Markets
S.Korea's economy shrinks 2.9% in Q2, worst in 2 decades
While the headline reading matches the decline recorded in 2008, the BoK said in a separate statement that when counting to two decimal places, the contraction was the worst since the 1998 Asian financial crisis. "It's possible for us to see China-style rebound in the third quarter as the pandemic slows and activity in overseas production, schools and hospitals resume", Mr Hong said at a policy ... [Full Article...]
United States stocks flat as Washington debates more stimulus
Tech stocks weighed on the European gauge after Intel Corp.'s warning on a production delay, sending the company's shares down more than 10 per cent in pre-market trading. The MSCI Emerging Market Index dipped 1.6%. Investors are selling the greenback on expectations the USA economy will likely underperform its peers in the developed world as the surge in new coronavirus infections pushed the ov... [Full Article...]
Wisconsin friends share Powerball jackpot win, keeping 1992 promise
Cook and Feeney went with their wives to the Wisconsin Lottery in Madison to collect their winnings. "He called me, and I said, 'are you jerking my bobber?'" said Feeney, an avid fisherman. "It was quite an experience when I read those first two or three numbers", Cook said in a Wisconsin Lottery video. 'A handshake's a handshake, ' he said. [Full Article...]
The Mini Countryman Works now has the GP’s 302bhp engine
The brake system consists of 360 mm front discs and four-piston fixed calipers finished in Chili Red, while the rear sees 330 mm discs and single-piston floating calipers instead. The spontaneous power delivery, which is sustained into high load ranges, enables the new MINI John Cooper Works Countryman to accelerate from 0 to 100 kmph in 5.1 seconds. [Full Article...]
Another 1.4 million workers filed for unemployment insurance last week
It's the first increase in new claims on a week-over-week basis since March, showing a weakening trend in the labor market. "The rising unemployment claims is a deeply concerning sign as the $600 weekly unemployment benefits soon expire for tens of millions of unemployed Americans", Glassdoor's senior economist Daniel Zhao said Thursday morning. [Full Article...]
Deal with European Union can still be reached in September - Frost
Michel Barnier, the EU's chief negotiator, said a deal needs to be reached by October to ensure it can be implemented by December 31. This means simply that by its [UK's] current refusal to commit to the conditions of open and fair competition, and to a balanced agreement on fisheries, the United Kingdom makes a trade agreement - at this point - unlikely . [Full Article...]
Australia’s JobKeeper Wage Subsidy Extended 6 Months With Changes
Morrison also said that no one should expect any new announcements on July 23 in the treasurer's financial statement. "The Government recognises the need for JobKeeper to be extended , we are conscious that there will still be businesses that will continue to be severely impacted by the coronavirus crisis". [Full Article...]
S&P 500 Index opens little changed as risk rally takes a break
Gold advanced for a fifth day and Treasuries were steady as attention turned to US jobless data due later Thursday. So far, the Standard & Poor 500, the index of the scintillating corporate titans responsible for over 45 per cent trading activities in the Wall St., remained in the positive territory on Wednesday's market closure, up by 1.4 per cent, while the tech-heavy Nasdaq added 19.3 per cent ... [Full Article...]