People gather at the entrance for the New York State Department of Labor offices in Brooklyn on March 20, 2020. The Federal Reserve estimates that 47 million people could lose their jobs before the COVID-19 crisis ends. Andrew Kelly | REUTERS Futures tied to major U.S. equity averages held steady in overnight trading on Thursday
Finance
A top currency strategist is predicting an ugly quarter for the dollar. Brown Brothers Harriman’s Win Thin warns the nation’s inability to contain the coronavirus pandemic as effectively as other countries is spooking the market. “This is one of the rare occasions when Europe will actually outperform the U.S.,” the firm’s global head of global
Warren Buffett Gerard Miller | CNBC Berkshire Hathaway announced on Saturday it bought back a record amount of its own stock during the second quarter as the coronavirus pandemic dented operations for Warren Buffett’s conglomerate. The company said it repurchased a total of $5.1 billion worth in stock in May and June. Berkshire repurchased more than $4.6
Take a look at some of the biggest movers in the premarket: Booking Holdings (BKNG) – Booking Holdings lost $10.81 per share for its latest quarter, smaller than the loss of $11.50 predicted by Wall Street analysts. The parent of Priceline, Booking.com, Kayak and other travel services also saw revenue beat estimates, even as the
A Jos. A. Bank store location in San Francisco announces its permanent closure on Aug. 6. David Paul Morris/Bloomberg via Getty Images The unemployment rate fell for the third straight month, to 10.2% in July. That exceeded expectations, as employers added about 1.8 million jobs to their payrolls. That adds up to good news for
A FedEx logo on a delivery truck Jin Lee | Bloomberg | Getty Images Check out the companies making headlines in midday trading. T-Mobile — Shares of the wireless provider surged more than 8% to a new 52-week high on Friday following its better-than-expected quarterly earnings. T-Mobile earned 9 cents on revenue of $17.67 billion, compared
Anne Boden, CEO of Starling Bank, speaking at Web Summit 2019 in Lisbon, Portugal. Harry Murphy | Sportsfile for Web Summit via Getty Images British digital challenger bank Starling said Thursday that its losses doubled in 2019, but that it now expects to break even by year-end amid a rebound in activity from the coronavirus
Getty Images Financial technology start-ups in most of the world raised more money in the second quarter than they did in the first three months of the year, but deal activity remained on a decline, according to a new report from CB Insights. Fintech funding rose 17% on-quarter from $7.9 billion to $9.3 billion, according to
Men wait at dawn in order to be the first in line to enter a bookkeeping shop to fill out unemployment forms near the U.S.-Mexico border in Imperial County, which has been hard-hit by the COVID-19 pandemic, on July 24 in Calexico, California. Photo by Mario Tama/Getty Images Thousands of workers in California are turning
The Bank of England on Thursday held interest rates steady and maintained its existing level of asset purchases, as investors watched for signs that it is anticipating a slower economic recovery. The main lending rate was kept at 0.1%, with the central bank having cut rates twice from 0.75% since the beginning of the coronavirus pandemic.
The building of DBS, Singapore’s largest bank, at the city state’s central business district. Suhaimi Abdullah | Getty Images News | Getty Images DBS Group Holdings, the largest bank in Singapore and Southeast Asia, reported a 22% fall in second-quarter net profit compared to a year ago as it set aside more money for loan
Carlos Ponce joins other demonstrators participating in a protest asking Senators to support the continuation of unemployment benefits on July 16, 2020 in Miami Springs, Florida. Joe Raedle | Getty Images Losing a $600 boost to weekly unemployment benefits puts 6 million people at risk of not being able to pay their bills this month,
The Commerzbank AG logo sits on an illuminated sign outside a bank branch as the bank’s headquarters stand beyond at dusk in Frankfurt, Germany, on Monday, Feb. 5, 2017. Alex Kraus | Bloomberg | Getty Images Commerzbank on Wednesday reported a 21% fall in second-quarter net profit to 220 million euros ($259.7 million) on the
Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Shares of Square soared on Tuesday evening after posting better-than-expected quarterly results and strong growth in its consumer payments app. The San Francisco-based company reported $1.92 billion
The Securities and Exchange Commission is investigating Eastman Kodak‘s disclosure about getting awarded a $765 million loan from the U.S. government to start producing drug ingredients, which sent the stock up on heavy volume ahead of the official announcement, the Wall Street Journal reported Tuesday. On July 27, a day before Kodak, as well as President Donald
A summer slump may strike stocks. After the S&P 500 gained 5.5% in July, CFRA’s Sam Stovall sees it falling 5% to 10% over the next two months. “We have a lot of concerns out there — in particular the overbought condition of the market right now, tech and large-cap dominance, the concerns surrounding soaring
Traders work during the closing bell at the New York Stock Exchange (NYSE) on March 18, 2020. Johannes Eisele | AFP via Getty Images U.S. stock futures traded along the flatline on Monday night after the major averages logged in sharp gains to start the new month earlier in the day. Dow Jones Industrial Average
Bloomberg | Getty Images Check out the companies making headlines midday Monday: Nio — U.S.-traded shares of the China-based electric vehicle company jumped more than 10% after Nio reported July delivery figures. The company said that July deliveries jumped 322% year over year to 3,533 vehicles. Through the end of July the company has delivered
A pedestrian walks past illuminated signage for HSBC Holdings Plc displayed outside a bank branch in the Central district of Hong Kong, China. Anthony Kwan | Bloomberg | Getty Images HSBC is expected to report a sharp fall in earnings for the first half of 2020 as a result of the economic hit from the
Chinese President Xi Jinping (R) waves to the press as he walks with US President Donald Trump at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017. Jim Watson | AFP | Getty Images Both the U.S. and China have to “step up to the plate” and provide global leadership at a time