Dollar rises again on safe-haven bids; shrugs off poor U.S. jobs number
The dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.
The dollar resumed its climb against major currencies on Friday as investors took refuge in safety bids amid worsening economic fallout from the coronavirus pandemic.
The U.S. economy shed 701,000 jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the novel coronavirus outbreak shuttered businesses and factories, confirming a recession is underway.
With the future of many coronavirus hit firms in their hands, British banks, still scarred by the financial crisis, are worried that they are being asked by a desperate government to make loans that will never be repaid.
Britain's Finance Minister Rishi Sunak on Friday announced updates to a scheme designed to get banks to help businesses hit by the coronavirus.
Bank On It podcast | John Siracusa | March 11, 2020 This nugget was pulled from episode 160 from an interview with Brett Crosby, co-founder & COO of PeerStreet. This nugget is on turning a funding failure into a win. About Brett Crosby: Brett is the co-founder and COO of PeerStreet, a platform for investing
"I had a business that was closed. It was doing great, and then one day I learned I was closed. You better help," CNBC's Jim Cramer said.
Amazon, Anthem, Decker Truck Line and Home Depot posted the highest number of open job listings last week, according to CareerBuilder.
A $349 billion loan program opened April 3 for small businesses to help cushion the economic blow from the coronavirus pandemic. Independent contractors and self-employed workers must wait another week.
Amazon.com Inc is postponing its major summer shopping event Prime Day at least until August and expects potentially a $100 million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.
Wall Street's main indexes fell on Friday as the longest period of employment growth on record in the United States came to an abrupt end due to the coronavirus, confirming a recession is underway.
Italy plans to tighten health checks to ensure that work is not disrupted in a small northern town specialising in the production of medical supplies to tackle its coronavirus crisis.
A flood of loan applications from coronavirus-hit businesses inundated lenders on Friday as the U.S. government launched its $349 billion bailout fund for small and midsize companies amid widespread confusion about just how the program works.
Crude futures surged for a second day on Friday, with benchmark Brent up 10% on hopes that a global deal to cut crude supply worldwide will emerge early next week.
FedEx Corp said on Friday it would pull $1.5 billion from a credit line and slash CEO pay as stay-at-home orders aimed at stemming the spread of the coronavirus in the United States and Europe hammer demand for its lucrative express services.
The U.S. Transportation Department on Friday issued a notice to airlines reminding them they are obligated to refund tickets when they cancel a flight or make a significant flight schedule change that passengers opt not to accept, but will not take any immediate action against airlines.