U.S. Federal Reserve policymakers on Wednesday will publish their first economic projections since the coronavirus pandemic set off a recession in February, estimates expected to signal a collapse in output this year and near-zero interest rates for the next few years.
Medium | Gonzalo Espinoza Graham | May 31, 2020 Since the pandemic started, there’s been approximately 61,260 tech layoffs [1]. Close to 30% of the layoffs came from public tech companies, 85% of those companies are unprofitable. No deep insights here, just the simple fact that the once growth hyper focused startups grew to be
Glass maker Corning Inc said on Tuesday it would receive $204 million from the U.S. government to boost manufacturing capacity of its vials that will be used to package coronavirus vaccines and treatments.
Clad in black, Beijing's city inspectors descended on street vendors this week and ordered them to clear out, just days after the Chinese premier had sparked a rush to set up curbside stalls by praising them as a creator of jobs in the coronavirus-hit economy.
A recent run of optimism in markets hit the brakes on Tuesday as investors mostly pulled back from stocks, though the Nasdaq extended its record run to a new high, while the safe-haven yen, Swiss franc and gold rallied.
The S&P 500 and Dow fell on Tuesday, pausing after recent strong gains as focus shifted to the Federal Reserve, while the Nasdaq ended at an all-time high for a second straight day after briefly rising above the 10,000 mark for the first time.
British government borrowing is soaring to levels not seen since World War Two, something Prime Minister Boris Johnson and his finance minister Rishi Sunak will try to fix once the worst of the coronavirus crisis has passed.
The S&P 500 and Dow fell on Tuesday after recent strong gains, while the Nasdaq extended its record run and briefly rose above the 10,000 mark for the first time.
Oil prices rose on Tuesday, as optimism about recent commitments from major oil producers to curb production offset concerns about a resurgence in coronavirus cases.
Ian Taylor, who built Vitol into the world's biggest oil trader, has died from pneumonia at the age of 64, the company said on Tuesday, after surviving bouts of cancer and a stroke last year.
Financial Post | Adam Felesky | Jun 5, 2020 Opinion: Open banking infrastructure and data are helping governments around the world better respond to the crisis Times of crisis confront societies with challenges — in the current crisis, increased unemployment, strained public finances and severe social hardship. But they can also generate opportunities for improvement
Critics suggested the Trump administration tampered with data to reduce the unemployment rate in May. Economists say the allegation is baseless.
AltFi | Oliver Smith | Jun 8, 2020 A watershed moment, when it eventually arrives. It’s hard to believe that just 12 months ago Plaid surprise-expanded to Europe with the announcement that it had already helped with the launch of Emma, the financial management app. Now the US fintech is celebrating its first year in
Goldman Sachs is closing its easy access savings business to new customers in Britain from Wednesday, after deposits surged to near regulatory limits during the coronavirus lockdown.
The nonprofit Wall Street Bound has partnered with Maverick Trading to provide training and access to financial jobs for underserved communities.