Weekly jobless claims jump to 281,000 ahead of surge in coronavirus layoffs
Jobless claims rose to 281,000 last week, reflecting only the first indications of the impact the coronavirus will have on the U.S. employment picture. That number reflected a significant rise from last week’s 211,000, which was unrevised from the initial...
Economist: Next week’s jobless claims could hit 2 million as coronavirus halt slams labor market
Next Thursday’s look at weekly new jobless claims may show a tenfold spike to two million as the full force of the coronavirus halt in the U.S. economy slams the labor market, economist Ian Shepherdson told CNBC. Shepherdson’s comments came...
Investor Ray Dalio estimates the corporate losses in the US from coronavirus will top $4 trillion
Investor Ray Dalio said the U.S. corporations will lose as much as $4 trillion due to the economic damage from the coronavirus outbreak. “What’s happening has not happened in our lifetime before … What we have is a crisis,” Dalio...
From Boeing to Tennessee whiskey, coronavirus bailout requests top $1 trillion
As the coronavirus outbreak threatens to bring U.S. economic activity to a grinding halt, American businesses are jockeying for a financial lifeline from the administration of President Donald Trump. The below have asked Washington, D.C., or state lawmakers for aid...
Federal Reserve to shore up prime money market funds amid Wall Street rout
US Federal Reserve Chair Jerome Powell speaks at a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images The Federal Reserve took another page out of its 2008 crisis-era playbook late Wednesday...
Ex-Citigroup CEO Sandy Weill urges executives to buy their own stock in show of confidence
Former Citigroup CEO Sandy Weill said executives should buy the stocks of their companies to project confidence to Wall Street in a time of historic market volatility. “I think this is a very important time for CEOs and leaders of industry to really show...
‘Hell is coming’ — Bill Ackman has dire warning for Trump, CEOs if drastic measures aren’t taken now
Investor Bill Ackman urged President Donald Trump and corporate America in an impassioned plea on CNBC to shut down the country for 30 days to contain the fast-spreading coronavirus, calling it the only option to rescue the economy. “What’s scaring the American people...
US housing starts fall less than expected in February
Contractors secure a wall section on a home under construction at the Toll Brothers Cantera at Gale Ranch housing development in San Ramon, Calif. David Paul Morris | Bloomberg | Getty Images U.S. homebuilding fell in February, pulled down by...
British challenger bank Revolut launches accounts for children
Revolut, one of Europe’s biggest fintech (financial technology) firms, has launched a “money management” product for children, which can be monitored by parents via the app. The online-only bank, which claims more than 10 million users worldwide, announced Wednesday it...
Fed will help businesses get up to $1 trillion in funding in the short-term borrowing markets amid coronavirus crisis
The Federal Reserve said Tuesday it is providing help to companies that are having a hard time getting the short-term funding they need to operate. In a move much anticipated on Wall Street, the bank announced a special credit facility...
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