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Updated: 4 years 21 weeks ago
WRAPUP 4-U.S. weekly jobless claims drop, but economic recovery still elusive
The number of Americans
seeking jobless benefits fell for an eighth straight week last
week, likely as some people returned to work, but claims
remained at astonishingly high levels, suggesting it could take
the economy a while to rebound as businesses reopen.
Categories: Business News
China backs away from U.S. chicken during COVID-19 recovery -Sanderson Farms
China will be out of the market
for U.S. chicken in June as it recovers from the coronavirus
pandemic, in a reversal from a recent surge of imports, the
president of American poultry company Sanderson Farms Inc
said on Thursday.
Categories: Business News
Google says use existing EU laws, not new ones to govern AI
Google has called on
the European Union to use current EU laws to govern the use of
artificial intelligence rather than draft new ones and cautioned
against a one size fits all regulatory framework because of AI's
diverse applications.
Categories: Business News
MEDIA-UPS adds peak delivery surcharge to manage e-commerce demand amid coronavirus - WSJ
Categories: Business News
IMF sees reversal in capital flows out of emerging markets
The International Monetary
Fund on Thursday said it estimates that emerging market
economies have raised some $77 billion in debt in April and May,
partially reversing massive capital outflows of $100 billion
seen after the coronavirus outbreak.
Categories: Business News
UPDATE 2-Trump executive order takes aim at social media firms -draft
U.S. President Donald Trump
is expected to order a review of a law that has long protected
internet companies, including Twitter and Facebook
, an extraordinary attempt to intervene in the media that
experts said was unlikely to survive legal scrutiny.
Categories: Business News
EMERGING MARKETS-Brazil's real breaks 6-session winning streak; Latam stocks fall
Latin American stocks slid on Thursday
amid escalating U.S.-China tensions, while surging unemployment
in Brazil led the country's currency to break a six-session
winning streak.
Brazil's real slid 1% after gaining about 7.5%
against the dollar over the last six sessions.
Data on Thursday showed Brazil's unemployment rate rose to
12.6% in the three months to April, up 5.2% from the previous
three-month period, underlining the impact of the coro
Categories: Business News
Pfizer ties up with glass maker Corning for vial supply
U.S. drugmaker Pfizer Inc has
signed a long-term agreement with glass maker Corning Inc
to procure vials for storing drugs, the companies said
on Thursday.
Categories: Business News
CORRECTED-Gum, mints and snack bar sales slump, as U.S. consumers order online amid COVID-19 crisis
Impulse purchases - gum, mints
and snack bars tossed into a shopping basket as one snakes
through the supermarket checkout line - are falling as more
people get groceries delivered or pick them up curbside.
Categories: Business News
CANADA STOCKS-TSX treads water as rising U.S.-China tensions offset recovery hopes
Canada's main stock index struggled for
direction on Thursday as investors weighed a slide in energy
stocks and rising U.S.-China trade tensions against hopes of an
economy recovery as countries reopened more businesses.
Categories: Business News
General Electric CEO warns of negative cash flow in 2020
General Electric Co on Thursday
warned 2020 free cash flow would be negative as it struggles
with weakness in its aviation and power units due to the
coronavirus outbreak.
Categories: Business News
UPDATE 1-CEE MARKETS-Polish zloty changes course after surprise rate cut
The Polish zloty changed course on
Thursday, trading down before paring its losses after the Polish central bank
surprised markets with a third rate cut since the start of the coronavirus pandemic,
sending bank stocks and bond yields tumbling.
The central bank cut its key interest rate by 40 basis points to 0.1%, meaning
it has cut the cost of borrowing by 140 basis points since the virus reached Poland
in Ma
Categories: Business News
CORRECTED-Japanese automakers' April sales halved
Global auto sales for Japanese carmakers
halved in April as the coronavirus pandemic forced governments
to impose lockdowns that left streets empty and showrooms
deserted.
Categories: Business News
China's Geely Automobile launches share placement of up to $859 mln
China's Geely
Automobile Holdings Ltd has launched an$836
million-$859 million placement of 600 million new shares,
according to a term sheet seen by Reuters.
Categories: Business News
WRAPUP 3-U.S. weekly jobless claims still elevated; core capital goods orders fall
The number of Americans
filing for unemployment benefits held above 2 million last week
for a 10th straight week amid job cuts by U.S. state and local
governments whose budgets have been decimated fighting the
COVID-19 pandemic and more second-wave layoffs in the private
sector.
Categories: Business News
If Trump kicks out Twitter, there's always Germany
If U.S. President Donald Trump
goes ahead with his threat to close Twitter, the
micro-blogging site can always relocate to Germany.
Categories: Business News
REFILE-DoorDash to create websites for restaurants' online food ordering
Food delivery company DoorDash
will announce on Thursday a service to help restaurants build
their own websites for online ordering so they do not have to
pay marketing commissions to the platform itself.
Restaurants will also not have to pay most fees for the new
DoorDash Storefront service through the end of the year,
providing some relief to a ravaged industry as it starts
reopening in some areas, DoorDash's Chief Operating Officer
Christopher Payne told Reuters e
Categories: Business News