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Business News
Reddit co-founder Ohanian resigns from board, wants a black candidate to take over
Reddit co-founder Alexis Ohanian on Friday resigned from the social network firm's board and sought to be replaced by a black candidate.
Categories: Business News
UPDATE 1-Indian travel firm Yatra scraps merger deal with U.S.-based Ebix
India's Yatra Online Inc said on Friday
it was terminating a pending merger agreement with U.S. software
firm Ebix Inc, and had filed a litigation seeking
"substantial" damages for Ebix's alleged breach of deal terms.
Categories: Business News
Occidental Petroleum shuts in U.S. Gulf of Mexico production, evacuates workers
Occidental Petroleum Corp has
shut in production at its central and eastern Gulf of Mexico
facilities ahead of Tropical Storm Cristobal, the company said
on Friday.
Categories: Business News
PG&E Corp preparing $11 billion debt financing: investor
California utility PG&E Corp is preparing an $11 billion debt-financing package as it prepares to exit from its bankruptcy, an investor involved with the company's funding plan said on Friday, sending its shares up more than 12%.
Categories: Business News
UPDATE 3-Twitter, Facebook disable Trump video tribute to Floyd over copyright complaint
Twitter Inc, Facebook Inc
and Instagram disabled U.S. President Donald Trump's campaign
tribute video to George Floyd on their platforms on Friday,
citing copyright complaints.
Categories: Business News
UPDATE 1-PG&E Corp preparing $11 bln debt financing – investor
California utility PG&E Corp is
preparing an $11 billion debt-financing package as it prepares
to exit from its bankruptcy, an investor involved with the
company's funding plan said on Friday, sending its shares up
more than 12%.
Categories: Business News
Trump touts job gains as 'greatest comeback in American history'
President Donald Trump on Friday celebrated a stunning U.S. employment report that showed more than 2.5 million jobs were added last month during the thick of the coronavirus pandemic, and predicted the battered economy will recover all of its lost jobs by next year.
Categories: Business News
MassMutual explores sale of its retirement services business -sources
Massachusetts Mutual Life
Insurance Company (MassMutual) is exploring a sale of its
retirement services division, which has about $175 billion of
assets under management and administration, people familiar with
the matter said on Friday.
Categories: Business News
Ireland hopes to restart international travel later in the summer
Ireland is hopeful that it will
be able to resume air travel to other European countries later
in the summer, acting prime minister Leo Varadkar said on
Friday.
Categories: Business News
GRAPHIC-Tech drives Nasdaq to all-time high as signs of recovery emerge from coronavirus pandemic
The heavyweight technology and growth
stocks that drove Wall Street higher in recent years are again
fueling a surge that has taken the Nasdaq from a brutal selloff
to an intraday record high in just 11 weeks, as investors look
beyond the economic upheaval caused by the coronavirus.
Categories: Business News
India's Yatra scraps merger deal with U.S. firm Ebix
Indian travel services company Yatra
Online Inc said on Friday it is terminating its pending
merger agreement with U.S. software firm Ebix Inc and
filed a litigation over Ebix's breach of agreement terms.
Categories: Business News
Surprise U.S. unemployment rate drop leaves out blacks, Asians
The U.S. unemployment rate dropped unexpectedly in May, but not all workers benefited equally as joblessness among African Americans and Asians rose, signaling some minorities face a longer recovery as the economy slowly rebounds from the coronavirus shutdowns.
Categories: Business News
May's jobs report stunner: real deal or head fake?
The U.S. economy unexpectedly added jobs in May, surprising economists and analysts who had forecast millions more losing their livelihoods, and raising hopes of a faster economic recovery than expected.
Categories: Business News
Wall Street rallies to end higher on surprise U.S. jobs report
Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery.
Categories: Business News
Equities surge, bonds tumble on surprise U.S. jobs gains
An unexpected jump in U.S. employment sent world equities and oil surging on hopes that the global economy has started to recover from the coronavirus pandemic, pulling investors out of perceived safe havens like government bonds and gold.
Categories: Business News
Trump opens Atlantic sanctuary to commercial fishing
President Donald Trump announced on Friday he will open up a 5,000 square mile conservation area in the Atlantic Ocean off the coast of New England to commercial fishing.
Categories: Business News
GLOBAL MARKETS-Equities surge, bonds tumble on surprise U.S. jobs gains
An unexpected jump in U.S.
employment sent world equities and oil surging on hopes that the
global economy has started to recover from the coronavirus
pandemic, pulling investors out of perceived safe havens like
government bonds and gold.
Categories: Business News
Powell spoke almost daily with Mnuchin in April
U.S. Federal Reserve Chair Jerome Powell
spoke on an almost daily basis with Treasury Secretary Steven
Mnuchin in April as the two officials scrambled to erect
programs to soften the economic blow from the coronavirus
pandemic, Fed records released Friday showed.
Categories: Business News
U.S. labor market unexpectedly improves; recovery years away
The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
Categories: Business News