U.S. weekly jobless claims drop sharply; second-quarter GDP growth unrevised at 6.4 pct
The number of Americans filing new claims for unemployment benefits dropped more than expected last week as layoffs subsided, with companies desperate for workers to meet surging demand unleashed by a rapidly reopening economy.
What you need to know about the coronavirus right now
Here’s what you need to know about the coronavirus right now.
Asian shares step back from 2-wk highs, dollar firm
Asian shares retreated from two-week highs on Thursday and China started on the backfoot on fears central banks were closer to considering winding back their emergency stimulus while the dollar held at a one-week top.
HSBC exits loss-making U.S. retail banking as part of Asia pivot
HSBC (HSBA.L) announced it is withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market.
U.S. trade chief Tai says U.S. faces ‘very large challenges’ on China
U.S. Trade Representative Katherine Tai said on Wednesday that the United States still faces “very large challenges” in its trade and economic relationship with China that require the Biden administration’s attention across the board.
EXCLUSIVE Hyundai to slash combustion engine line-up, invest in EVs – sources
Hyundai Motor Group will slash the number of combustion engine models in its line-up to free up resources to invest in electric vehicles (EVs), two people close to the South Korean automaker told Reuters.
Senator Warren attacks JPMorgan’s Dimon over ‘baloney’ overdraft fees
Progressive firebrand Senator Elizabeth Warren on Wednesday attacked JPMorgan Chase & Co (JPM.N) chief executive Jamie Dimon after the country’s largest lender reaped $1.46 billion in overdraft fees during 2020 while borrowers were struggling to make ends meet amid pandemic lockdowns.
Wall Street edges up as U.S. bond yields stay tame
U.S. stocks closed out Wednesday’s session with modest gains as recent comments from Federal Reserve officials helped tamp down concerns about runaway inflation and kept bond yields in check.
Wall Street edges up with U.S. bond yields in check
U.S. stocks edged higher on Wednesday as recent comments from Federal Reserve officials helped tamp down concerns about runaway inflation and kept bond yields in check.
Ford boosts EV spending, outlines 2030 sales targets, shares near 5-year high
Ford Motor Co (F.N) on Wednesday outlined plans to boost spending on its electrification efforts by more than a third and said it aims to have 40% of its global volume be all electric by 2030, sending shares near a five-year high.
