Tag: coronavirus

July 23, 2020

The number of Americans who filed for unemployment benefits rose more than expected last week as the coronavirus pandemic inflicted more damage to the U.S. economy. The Labor Department said Thursday initial jobless claims came in at 1.416 million for […]

July 22, 2020

The South China Morning Posts reports that the 11 lenders will partially or completely shut down operations at some 58 branches – about 5% of the city’s total – from 21 July. The restrictions come as the latest outbreak pushed […]

July 20, 2020

The study, published on 16 July, used a match-pair “mystery shopper” test, where a Black and a white applicant with nearly identical business profiles and strong credit histories would contact the same bank. In 27 of the 63 cases, white […]

July 17, 2020

Maryland uncovered a massive criminal enterprise involving identity theft and more than 47,500 fraudulent unemployment insurance claims in the state adding up to more than $501 million, Governor Larry Hogan said Wednesday, saying the case relates to activity in at […]

July 17, 2020

The coronavirus outbreak has had an adverse, but manageable, impact on the European insurance sector, leading to a drop in company earnings rather than capital erosion, says Moody’s Investors Service in a report. Central bank intervention has reversed much of […]

July 16, 2020

Bank of America on Thursday posted second-quarter earnings that were bolstered by stronger-than-expected bond trading and investment banking revenue. The bank said it generated earnings of $3.5 billion, or 37 cents a share, exceeding the 27 cents a share expected […]

July 16, 2020

Gold futures headed lower on Thursday as commodity investors assessed the landscape for the global economy and markets amid rising U.S. coronavirus cases, while the European Central Bank, as expected, kept both its key rate and asset-buying program unchanged. Bullion […]

July 15, 2020

Goldman Sachs on Wednesday reported blowout second-quarter earnings as its reliance on trading and investment banking paid off amid the market turbulence caused by the coronavirus pandemic. The bank said it generated $2.42 billion in profit, or $6.26 a share, […]

July 10, 2020

Gold futures turned lower on Friday, but held ground above $1,800 an ounce, on track to score a fifth weekly gain in a row as the spread of coronavirus in many U.S. states and other countries raised the need to […]

July 7, 2020

U.S. Treasury yields declined slightly in early Tuesday trade before a debt auction is expected to highlight the U.S. government’s ultra-low borrowing costs as the economy recovers from the coronavirus crisis. What are Treasurys doing? The 10-year Treasury note yield […]

July 6, 2020

Rising coronavirus cases will limit growth in what will be an otherwise robust third-quarter rebound in the U.S., according to Goldman Sachs. The bank’s economists now see third-quarter gross domestic product rising by 25% on an annualized basis. That’s down […]

July 2, 2020

The numbers: The U.S. added 4.8 million jobs in June and the unemployment rate fell for the second straight month to 11.1%, but the economy’s recuperation from the coronavirus might already be suffering a setback from a renewed surge in […]

July 2, 2020

St. Louis Federal Reserve Bank President James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis, the Financial Times reported. “Without more granular risk management on the part of […]

July 1, 2020

As the economy moves into the second half of the year, economists expect to see a bounceback, but the resurgence in Covid-19 threatens to make that rebound less potent than expected. More than a dozen states have now paused or […]

June 30, 2020

U.S. stock-index futures were sliding lower early Tuesday as investors awaited a congressional hearing featuring Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin that could provide more investor guidance about the government’s economic response to rising coronavirus cases. […]

June 29, 2020

Banks’ dividends could be at risk. Banking stocks tumbled Friday after the Federal Reserve highlighted potential vulnerabilities in the sector. The central bank suspended buybacks and capped dividends on financial institutions through the third quarter after its recent stress tests. […]

June 26, 2020

U.S. stock benchmarks skidded sharply lower Friday, adding to losses after Texas, one of the coronavirus hot spots, further tightened social-distancing rules in the state, highlighting worries about a resurgence in the viral outbreak. Investors were also paring the results […]

June 18, 2020

Clear screens on underwriting boxes, temperature-check thermal cameras and a click and collect take-away catering service are among changes Lloyd’s of London insurance workers will see when they return to the office in September. Having shut its London “underwriting room” […]

June 18, 2020

U.S. stocks were trading mixed to moderately lower on Thursday as investors digested a weekly report on the labor market in the U.S. and contend with signs of rising cases and hospitalizations of COVID-19 in several American states. How are […]

June 16, 2020

The credit market, which seized up during the start of the coronavirus turmoil in the financial markets, is now one of the few things equity investors can take solace in as volatility returns. As scary as the stock market’s wild […]