Markets
India's factory activity slumped to record low in April: PMI
It is the first time in almost three years that the manufacturing PMI has contracted. IHS Markit's final Manufacturing Purchasing Managers' Index (PMI) for the euro zone sank to 33.4 from March's 44.5, its lowest since the survey began in mid-1997, below an earlier flash reading of 33.6 and significantly below the 50 mark separating growth from contraction. [Full Article...]
Warren Buffet’s Berkshire Hathaway Sells Full Slate of U.S. Airlines Investments
US equity futures declined and stocks opened lower in the Asia, indicating the risk-off move that's hit markets at the start of this month may have further to run. By that measure, Berkshire's operating earnings improved to $5.87 billion, or $3,617.62 per Class A share, from $5.56 billion, or $3,387.56 per Class A share. [Full Article...]
Mega Millions jackpot jumps to $215 million; Sunday’s Ohio Lottery numbers
All POWERBALL prizes are set payouts, except the jackpot. Power Play costs $1 more per play. The jackpot prize will be shared among winners in all POWERBALL states. The Colorado Lottery announced that a man identified as "Joe B." won two $1 million Powerball jackpots on March 25. The other multi-state lottery is Mega Millions , which is played on Tuesdays and Fridays. [Full Article...]
Westpac profits plunge 70 per cent as bank suspends dividends coronavirus impact
Like ANZ , Westpac deferred a decision on interim shareholder dividend payments due to the ongoing economic uncertainty. Westpac has suspended its dividend, after the banking giant's cash profit plunged 70 per cent. Hit by steep costs from a money laundering scandal and a surge in charges for bad loan provisions due to the coronavirus outbreak, Australia's second-largest lender said it would po... [Full Article...]
Oil prices fall on demand concerns, U.S.-China trade tension
Abu Dhabi: Oil markets on Friday closed on their first weekly high in a month, with Brent trading at $26.44 and West Texas Intermediate (WTI) on $19.78, as prices flickered with some good news on Opec+ production cuts of nearly 10 million barrels per day (bdp) coming into effect. [Full Article...]
Pinoy workers at meat-packing plant faces discrimination over COVID-19 outbreak
The plant is in High River, about 40 miles south of Calgary, and is critical to Canada's meat supply, accounting for almost 40% of the country's beef production. Cargill also idled a beef-processing in Hazleton, Pa., on April 7 after 164 workers there were diagnosed with COVID-19. On April 12, Local 401 called for the plant to close for two weeks, saying in a letter to top Alberta government off... [Full Article...]
Warren Buffett abandons US airlines with a $6B billion stock sale
Buffett made the remarks during the shareholder meeting , which this year is being held in a virtual format as most states are under shelter-in-place measures due to COVID-19. "We got a long way to go, but we moved in the right direction", he said , referencing the abolition of slavery and women's suffrage. Buffett said he couldn't promise Berkshire would outperform the S&P over the next dec... [Full Article...]
CARES Act Unemployment Benefit Guidance for Employers
PEUC is available to those claimants who have exhausted their regular unemployment benefits with Benefit Year Begins of July 2, 2018 or later or for claimants who have ended their benefit year. "We're still working on all the configurations necessary to process that claim". People who applied for benefits on or after April 5 and were deemed ineligible will get additional application informatio... [Full Article...]