Markets

Venezuela files claim to force Bank of England to hand over gold

Venezuela has launched a legal battle to access $1bn (£815m) of gold stored at the Bank of England (BOE) as it claims it needs the money to tackle the coronavirus pandemic. In April, Venezuela, which has been struggling under a COVID-19 quarantine while crippled by U.S. sanctions, demanded that the Bank of England sell part of the gold reserves it has kept there to help fund the country's efforts ... [Full Article...]

Proud at economy reopening in 'safe way': Mnuchin

Proud at economy reopening in 'safe way': Mnuchin Powell , by contrast, stressed, as he has in recent weeks, that the nation is gripped by an economic shock "without modern precedent" and that Congress must consider providing further financial aid soon to support states, localities, businesses and individuals to prevent an even deeper recession. [Full Article...]

How major U.S. stock indexes fared Wednesday

How major U.S. stock indexes fared Wednesday Communications companies and banks also helped drive the market higher. The lower open in Europe followed a mixed trading session in Asia. The Dow Jones Industrial Average rose 249.08 points, or 1.03%, at the open to 24,455.94. comparable sales as online sales soared due to stockpiling of essentials during the Covid-19-related lockdown. Ahead of the opening bell in NY, shares in Expedia ... [Full Article...]

Some stimulus payments will be sent in the form of debit cards

Some stimulus payments will be sent in the form of debit cards The stimulus provides up to $1,200 for individuals, $2,400 for married couples and $500 per child. For consumers, the stimulus checks have prompted many questions about who is eligible to receive the money and how to ensure timely payment. [Full Article...]

Australia and China spat over coronavirus inquiry gets uglier

Australia and China spat over coronavirus inquiry gets uglier Australia's states and territories are implementing a three-step federal government plan to unwind lockdown measures that have been in place for two months, but the staggered pace means different restrictions around the country at any point in time. [Full Article...]

Walmart Hires 235,000 Workers As Pandemic Sales Soar

Walmart Hires 235,000 Workers As Pandemic Sales Soar And given uncertainty, the company withdrew previously issued financial guidance for the fiscal year. But Walmart was likely looking at the bigger picture. The company has more than 3,000 locations for grocery pickup and 1,600 locations that offer grocery delivery. But its e-commerce growth, like Amazon's, is coming with expensive investments in fulfillment, including having 2,500 stores serve a... [Full Article...]

Qantas will offer dirt-cheap flights without social distancing

Qantas will offer dirt-cheap flights without social distancing Limiting passenger numbers would ultimately hurt the company's bottom line, which has already taken a massive hit since the pandemic. According to Qantas chief executive Alan Joyce , social distancing on an aircraft isn't practical. Qantas says there will be temporary changes to lounges, including increased physical distancing, hand sanitising stations, enhanced disinfection of surfaces and a... [Full Article...]

Warren Buffett’s Berkshire Hathaway cuts stake in Goldman Sachs, JP Morgan & Chase

Warren Buffett’s Berkshire Hathaway cuts stake in Goldman Sachs, JP Morgan & Chase The market value of its Goldman investment fell to about $297 million from about $2.76 billion. But in this current crisis, Berkshire has soured on Goldman. Overall the banking system is not going to be the problem. Bottom line, per Bloomberg's Tara Lachapelle: "Buffett, 89, said proudly just two weeks ago that he thinks 'nothing can stop America, ' but it's getting harder to believe him ". [Full Article...]


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