A second wave of layoffs amid weak demand and fractured supply chains is likely keeping new U.S. applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession.
The dollar and the yen edged higher on Thursday as growing concerns about a rise in coronavirus cases underpinned safe-haven demand for both currencies.
Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year - and more pain to follow - as airlines park or retire thousands of aircraft due to the coronavirus pandemic.
A newly discovered spyware effort attacked users through 32 million downloads of extensions to Google's market-leading Chrome web browser, researchers at Awake Security told Reuters, highlighting the tech industry's failure to protect browsers as they are used more for email, payroll and other sensitive functions.
Oil prices fell around 1% on Thursday as a spike in new coronavirus cases in China and the United States renewed fears that a recovery in fuel demand could stall, even as lockdowns ease.
Oil prices slipped on Thursday on concerns that a spike in new coronavirus cases in China and the United States could dampen a recovery in fuel demand, even as lockdowns ease.
Asian stocks and Wall Street futures fell on Thursday as spiking coronavirus cases in some U.S. states and in China dented hopes of a quick global economic comeback from the pandemic.
The dollar held firm against many of its rivals on Wednesday after U.S. retail sales jumped far more than expected in May,
HSBC is resuming a massive redundancy plan it had put on ice after the coronavirus outbreak, and will cut 35,000 jobs over the medium term, a memo seen by Reuters on Wednesday showed.
United Airlines sweetened on Tuesday a voluntary exit package for flight attendants and extended the application deadline, saying it needed "a lot more people to sign up" to avoid involuntary layoffs in October, according to a document seen by Reuters.
Asian share markets took a cautious turn on Wednesday as a resurgence of global coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records.
The dollar was little changed on Wednesday after U.S. retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar.
HSBC is resuming a redundancy plan it put on ice after the coronavirus outbreak, and will cut around 35,000 jobs over the medium term, a memo seen by Reuters on Wednesday showed.
Oil prices declined on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery in demand.
There's a "healthy" pipeline of companies listing in Hong Kong, and one key trend ahead will be more tech firms who will increasingly do so, Hong Kong leaders say.