Markets


Pandemic Unemployment Assistance Application Portal to Launch Pandemic Unemployment Assistance Application Portal to Launch
- May 01, 2020

Some could qualify for Pandemic Unemployment Assistance (PUA), but must meet certain criteria. Be unable to go to work because a health care provider has instructed that the individual self-quarantine due to COVID-19. Workers who certify for benefits on Friday will also receive a separate $600 supplemental payment as part of the CARES Act for each week they were eligible for PUA since March 29. (more...)
30 million Americans have filed for unemployment since the COVID-19 outbreak 30 million Americans have filed for unemployment since the COVID-19 outbreak
- May 01, 2020

With so many processing offices inundated with claims, some Americans have reported weeks-long lags or not receiving benefits at all. The count of initial claims filed in the week ending April 25 slowed slightly from the record levels observed in prior weeks, both nationally and in MA, but continued a trend of unprecedented demand. (more...)
Most deaths recorded in one day from COVID-19 in Ontario Most deaths recorded in one day from COVID-19 in Ontario
- May 01, 2020

We're getting close, I'm giving you hope. "We are in the path to reopening the economy because that curve is flatting". That surge in our hospitals, we avoided. "If the above recommendations are still not enough for your workplace, as a last resort, consider personal protective equipment (PPE)", the guidelines for cashiers say. (more...)
Record decline in carbon emissions due to coronavirus Record decline in carbon emissions due to coronavirus
- April 30, 2020

With no drug to treat Covid-19 and a vaccine not expected until at least the end of the year, reducing the interactions between infected people is the only effective way to control the spread. The pandemic has only hastened its demise. Global demand is projected to fall by 8%, the largest decline since the Second World War. Lockdown measures are also fuelling the shift towards green energy such as wind, solar PV and hydropower - which are on track to help lift renewable electricity ... (more...)
Jobless Claims Fall to 3.84 Million Jobless Claims Fall to 3.84 Million
- April 30, 2020

Many people have still been unable to file claims through the state's overwhelmed website and phone system. The new figure comes a day after GDP figures show the United States economy contracting at an annual rate of 4.8 percent. That brings the total number of new claims in NY to about 1.6 million people since the coronavirus pandemic began. Ioana Marinescu, an associate professor of economics at the University of Pennsylvania, told Newsweek: "These high numbers are the sign of an ... (more...)
Unemployment in the United States exceeds 30 million Unemployment in the United States exceeds 30 million
- April 30, 2020

There were 293,948 unemployment claims filed in March - amounting to a more than 1,150% increase in total filed unemployment claims in March 2020 from February 2020 - in northern IL according to state data released this month. The state was among the last in the nation to implement a stay-at-home order and thus is experiencing a later spike in unemployment claims. Between April 19 and April 25, about 3.8 million out-of-work employees submitted new applications across the country, as did ... (more...)
PM Says You Are Eligible For One, But Not Both Wage Subsidies PM Says You Are Eligible For One, But Not Both Wage Subsidies
- April 30, 2020

The CEWS aims to prevent further job losses, encourage employers to re-hire workers who were laid off as a result of COVID-19, and help position businesses to resume normal operations more easily following the crisis. Trudeau also hinted that the government is working on an initiative for essential workers. "We're going to get that balance right". The prime minister addressed media shortly before departing for a reduced sitting of the House of Commons, which votes later in the day on a ... (more...)
Hundreds of protesters in Lebanon clash with security forces despite virus lockdown Hundreds of protesters in Lebanon clash with security forces despite virus lockdown
- April 30, 2020

Anti-government protesters carry their friend who was wounded by a rubber bullet during clashes with Lebanese army soldiers in Tripoli on Tuesday. Thousands of protesters took to the streets across Lebanon on Monday, blocking roads and attacking banks, after the currency's rapid devaluation wiped out a large percentage of their salaries and savings. (more...)
US GDP shrinks 4.8%, ends decade's growth, Economy News & Top Stories US GDP shrinks 4.8%, ends decade's growth, Economy News & Top Stories
- April 30, 2020

The Commerce Department released the GDP numbers for the first quarter of 2020 on Wednesday. The BEA said "stay-at-home" orders in March had "led to rapid changes in demand, as businesses and schools switched to remote work or cancelled operations, and consumers cancelled, restricted, or redirected their spending". (more...)
Canada's reopening won't depend on immunity: Trudeau Canada's reopening won't depend on immunity: Trudeau
- April 30, 2020

Prime minister Justin Trudeau announced on Saturday $62.5 million in funding to support the seafood processing industry, which officials hope will also filter through to the entire fishing sector. Ontario, in its latest report, snapped a three-day string of declining new cases as another 59 more people died. "We need to stay vigilant every step of the way". (more...)
Saudi Arabia's PIF discloses 5.7% stake in Live Nation Saudi Arabia's PIF discloses 5.7% stake in Live Nation
- April 30, 2020

The move earned the sovereign wealth fund over 12.3 million shares and makes Saudi Arabia the third-largest stakeholder of Live Nation . Stay-at-home orders, social-distancing guidelines, and nonessential business closures (besides concern for attendees' health, of course) prompted Live Nation to indefinitely postpone each of its previously planned shows. (more...)
Another 3.8 million in USA filed for jobless benefits last week Another 3.8 million in USA filed for jobless benefits last week
- April 30, 2020

The number of new filings has dropped for four consecutive weeks since peaking at 6.8 million in the last week of March as overwhelmed state offices drove through backlogs of claims. "Some good news is that UI claims are now clearly declining", she added, noting that it was "mind-boggling" that 3.5 million jobless claims had become a "welcome development" in the USA economy. (more...)
Trump orders USA meat factories to stay open despite virus cases
- April 30, 2020

Before the first cases in High River were confirmed, workers from the plant wrote a letter stating, "We the workers and our families are anxious and scared for the possibility that we might bring the virus with us at home". And the magic ingredient? Faced with thinning workforces as workers become infected or stay home in fear, meatpacking companies have also put millions of dollars towards boosting pay and giving workers bonuses to encourage healthy workers to stay on the job. (more...)
China Factory Activity Gauge Slipped in April China Factory Activity Gauge Slipped in April
- April 30, 2020

The new-orders subindex for the entire non-manufacturing sector, a measure of demand, increased to 52.1 from 49.2 in March while a sub-index measuring employment edged up to 48.6 from 47.7. Many sporting venues, cultural centers and cinemas have remained closed throughout April. It is still too early to conclude that the Chinese economy is growing again. (more...)
Alphabet: Google parent reveals coronavirus earnings impact
- April 30, 2020

Porat said Alphabet anticipates the second quarter will be hard for Google's advertising business. "GCP growth was led by our infrastructure offerings and our data and analytics platform". The exec said his employees have "marshalled our resources and product development in this urgent moment". Google has seen a significant rise in search activity. (more...)
Crude oil futures jump 12% in afternoon trade Crude oil futures jump 12% in afternoon trade
- April 30, 2020

The EIA reported a smaller-than-expected 8.99 million-barrel increase in US crude stockpiles and a 3.64 million-barrel build at Cushing, Oklahoma, the delivery point for futures. Traders "are bargain hunting after a couple of days of massive sell-offs", OANDA senior market analyst Jeffrey Halley told AFP . The Organization of Petroleum Exporting Countries (OPEC), Russia and other allied producers, a group known as OPEC+, agreed this month to cut their combined production by a record 9.7 ... (more...)
Large Price Gains for Oil on Hope of Re-Opened Economy Large Price Gains for Oil on Hope of Re-Opened Economy
- April 30, 2020

All economic signs pointed upward Wednesday, with oil prices jumping more than 30%, following a report that showed a smaller-than-expected build in US inventories, as well as on the hope that economies will reopen sooner than expected. Oil advanced for a second day on signs fuel consumption is starting to recover in the world's biggest economies, while global production cuts also begin to offset the demand destruction caused by the coronavirus. (more...)
Where Can I Cash My Stimulus Check? Try Walmart or PayPal Where Can I Cash My Stimulus Check? Try Walmart or PayPal
- April 30, 2020

But even some people who don't fall into that bucket have already received a paper check in the mail. That's more than half of the $290 billion set aside for direct disbursements to individuals as part of the $2.2 trillion CARES Act aimed at boosting the coronavirus-battered United States economy. (more...)
Assessment split over new coronavirus drug Assessment split over new coronavirus drug
- April 30, 2020

Fauci, who often accompanies President Donald Trump at news conferences, also said the drug will be the standard of care. But "whenever you have clear-cut evidence that a drug works, you have an ethical obligation to immediately let the people who are in the placebo group know so that they can have access", Fauci said. (more...)
Congress reaches deal on relief bill replenishing small business fund Congress reaches deal on relief bill replenishing small business fund
- April 30, 2020

The first $349 billion PPP package, which was part of the $2.2 trillion Coronavirus Aid, Relief and Economic Security (Cares) Act signed into law in late March, ran out of money on April 16. Public companies, after all, have access to funding via capital markets. Quantum, San Jose, Calif., employs about 800 people globally, including 550 workers in the U.S. (more...)

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