The Nasdaq Composite on Friday became the first of the three major U.S. stock indexes to bounce back to a record high, recovering from a stunning coronavirus-led slump on growing hopes of a swift economic rebound.
The Bureau of Labor Statistics reported a 13.3% unemployment rate for May. The real jobless figure likely exceeds 16%.
President Donald Trump on Friday celebrated a stunning U.S. employment report that showed more than 2.5 million jobs were added last month during the thick of the coronavirus pandemic, and predicted the battered economy will recover all of its lost jobs by next year.
United Airlines Holdings Inc is closing its international bases for flight attendants in Frankfurt, Hong Kong, and Tokyo effective Oct. 1, 2020, according to an internal memo to crew on Friday seen by Reuters.
The U.S. economy unexpectedly added jobs in May, surprising economists and analysts who had forecast millions more losing their livelihoods, and raising hopes of a faster economic recovery than expected.
The owner of British Airways is considering a legal challenge to Britain's quarantine plan, as relations between airlines and the government are frayed by steps to curb the coronavirus pandemic.
U.S. Vice President Mike Pence said the jobs report released on Friday was a sign the U.S. economy was beginning to recover from the deep hit caused by the novel coronavirus outbreak, but said President Donald Trump is still in favor of a payroll tax cut.
As the U.S. economy slowly starts again, lawmakers are considering various ideas to stimulate growth. President Donald Trump has said he wants a payroll tax cut. But experts aren't so sure that would help the people who need it most. Plus, it would be costly for Social Security.
Volkswagen has completed an internal report into how it came to publish a racist advert, the German carmaker said on Friday, adding that its findings will be released once its management board has reviewed the matter.
U.S. stock indexes jumped on Friday, with the Nasdaq Composite less than 1% away from a record high, after a closely watched report showed surprise job additions in May, lending weight to hopes of a faster economic rebound from a coronavirus-led slump.
The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
French luxury goods giant is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whether to do so, people familiar with the matter said on Friday.
Takeshi Niinami, the head of Japanese drinks and food group Suntory Holdings and a government adviser, predicted on Friday that more than 20% of bars and restaurants could fail due to the coronavirus pandemic.
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WeWork will invest $100 million in its Indian business as the office-sharing startup looks to work its way through the ongoing coronavirus crisis, which has hit its business and kept people indoors for months.