Markets


Chinese graduate students may be next hit by US-China tensions Chinese graduate students may be next hit by US-China tensions
- May 29, 2020

The statement has been released a day before the US President Donald Trump is due to announce later his response to the Chinese parliament's new security laws for Hong Kong. But Hong Kongers and several Western governments see the move as crushing the city's unique freedoms, and Washington has vowed to punish Beijing over it. (more...)
Wall Street rally ends on fears about US-China tensions Wall Street rally ends on fears about US-China tensions
- May 29, 2020

Johnson & Johnson rose 1.4%, Pfizer gained 2.1% and Eli Lilly added 3.4%. On Wednesday, all three key indices of Wall St. Asian markets were mixed as tensions continue to heighten between the United States and China. The S&P 500 has improved 2.7%, the NASDAQ 0.9%, and the Dow 4.4% since the start of the holiday-shortened week. Financial, industrial, department store chains and health care stocks accounted for a big slice of the gains. (more...)
Amazon may buy robo-taxi startup Zoox Amazon may buy robo-taxi startup Zoox
- May 29, 2020

Zoox emerged at a time when Silicon Valley investors were intrigued by the thought of autonomous taxis and delivery vehicles. Instead of outfitting an existing vehicle for autonomous driving, the vehicles were purposefully built from the ground up by Zoox engineers for a mobility service that the company's hopes might one day rival Uber or Waymo. (more...)
Oil prices fall as US fuel demand remains weak Oil prices fall as US fuel demand remains weak
- May 29, 2020

Oil prices edged lower on Friday after US inventory data showed lacklustre fuel demand in the world's largest oil consumer while worsening U.S. Brent crude futures were down 1.12 per cent, or 39 cents at $34.35 per barrel, after dropping to as low as $33.62 in earlier trade. (more...)
Google To Start Reopening Offices, Targets 30% Capacity In September Google To Start Reopening Offices, Targets 30% Capacity In September
- May 29, 2020

Alphabet and Google CEO Sundar Pichai said that the company will restart opening more buildings in more cities from July 6. More companies are extending remote options for most employees, and this update comes shortly after Facebook announced the company will allow employees to work remotely beyond the pandemic, as well as Twitter and Square. (more...)
Ford’s Explorer Police Interceptor Utility Now Heats Up To Kill The Coronavirus Ford’s Explorer Police Interceptor Utility Now Heats Up To Kill The Coronavirus
- May 29, 2020

Ford got the idea from NY police officers who were concerned about safely and thoroughly eradicating Covid-19 from their cars, according to the Detroit Free Press . Ford does note, however, that the system is not meant to be a replacement to other safety measures but is meant to supplement them. Hau Thai-Tang, Ford's chief product development and purchasing officer, said first responders "are on the front lines protecting all of us". (more...)
What to do if you still haven't gotten your stimulus check What to do if you still haven't gotten your stimulus check
- May 29, 2020

Information in the envelope states that it is an economic impact payment card. After being reassured it was, they activated the card and found out they are getting the maximum allowed for a couple, which is $2,400. Several transactions can be made without any fees, including online and in-store purchase, cash withdrawals from an in-network ATM and transfers to a personal bank account. (more...)
NJ unemployment has paid claims to 1.1 million people NJ unemployment has paid claims to 1.1 million people
- May 29, 2020

Why it matters: Even as states reopen their economies, the number of newly filed unemployment applications remains historically high as the pandemic slams the labor market. This figure reports with a two-week lag. Among Tennessee's three largest cities, Nashville had the highest unemployment rate in April of 15.9%, Memphis hit 14.3%, and Knoxville recorded 14.7%. (more...)
COVID-19 causing biggest fall in energy investment in history: IEA COVID-19 causing biggest fall in energy investment in history: IEA
- May 28, 2020

The investment in the sector has been on track for a 2 percent expansion in 2020 at the start of the year, which marked the largest rise since 6 years. "Today's investment trends are clear warning signs for future electricity security", Dr Birol said. Estimated investment in efficiency and end-use applications is set to fall by an estimated 10-15 per cent as vehicle sales and construction activity weaken and spending on more efficient appliances and equipment is dialled back. (more...)
Riot police deployed across Hong Kong as US-China tensions rise Riot police deployed across Hong Kong as US-China tensions rise
- May 28, 2020

In a statement, Foreign Affairs Minister François-Philippe Champagne said he was "deeply concerned" by China's security law but he did not threaten any consequences for it. More than 300 were arrested, but they say they're going to continue that protest. "US politicians such as Pompeo arrogantly believe that Hong Kong's destiny is in their hands", Xijin wrote. (more...)
The New York Stock Exchange Is Back The New York Stock Exchange Is Back
- May 28, 2020

While the NYSE is ramping only gradually, the moment was an important one symbolically for Wall Street and the United States as the country charts its recovery from the COVID-19 crisis. Since the move to electronic-only trading, there have been no major disruptions, even with record volumes and volatility, prompting rivals to say the floor, where stocks have changed hands since 1792, has no real utility. (more...)
Macau King of Gambling Stanley Ho Dies at 98 Macau King of Gambling Stanley Ho Dies at 98
- May 28, 2020

He was the great-nephew of one of Asia's first tycoons, Robert Hotung, an influential Eurasian businessman and philanthropist who was among Hong Kong's wealthiest individuals at the turn of the 20th century. About the same time, Ho married Lucina Laam under a Qing dynasty code allowing men to take multiple wives that Hong Kong outlawed in 1971. "Investors are keen on SJM in anticipation that it will become more aggressive in its business approach on the back of stronger control of the ... (more...)
Stocks rally on EU stimulus plan, euro gains Stocks rally on EU stimulus plan, euro gains
- May 28, 2020

Riot police fired pepper pellets on protesters in Hong Kong's main business district, rekindling concern about the protests seen a year ago that hit the territory's economy. The commission's plan also includes 1.1 trillion euros for the EU's next long-term budget that would contribute to the recovery fund that is aimed especially at Italy and Spain. (more...)
Stock indexes rise on optimism of recovery, shrink back Stock indexes rise on optimism of recovery, shrink back
- May 28, 2020

On Wednesday, U.S. Secretary of State Mike Pompeo declared Hong Kong was no longer autonomous, thereby placing its special trade status at risk. Secretary of State Mike Pompeo said Wednesday that Hong Kong no longer warrants special treatment under USA law as it did when it was under British rule, potentially a big blow to its status as a major financial hub. (more...)
Coronavirus job losses creating 'lockdown generation,' United Nations group warns Coronavirus job losses creating 'lockdown generation,' United Nations group warns
- May 28, 2020

According to the "ILO Monitor: Covid-19 and the World of Work", youth are being disproportionately affected by the pandemic, and the substantial and rapid increase in youth unemployment seen since February is affecting young women more than young men. (more...)
Facebook Announces Permanent Work from Home Option for Employees Facebook Announces Permanent Work from Home Option for Employees
- May 28, 2020

But there's a lot of "ifs", "ands" and "buts" attached - although not butts in the seats. Facebook will reportedly allow existing employees to request permanent remote work if they meet a specific criteria. Zuckerberg believes a change like this could impact some of what he calls "the softer stuff", like social connections, group brainstorming and creativity. (more...)
Japan approves second stimulus package amid COVID-19 Japan approves second stimulus package amid COVID-19
- May 28, 2020

Economists have predicted that there could be an enormous drop to as much as -20% this quarter. The budget also will pay for measures to help prepare for possible future waves of infections, including development of vaccines and treatments for COVID-19. (more...)
Renault Nissan Mitsubishi Alliance doubles down on tech sharing Renault Nissan Mitsubishi Alliance doubles down on tech sharing
- May 28, 2020

Nissan will be leader for North America and Japan. Renault will be the champion for Europe, Russia, South America and North Africa; Nissan will be the champion for North America, Japan and China; and Mitsubishi will be the champion for Southeast Asia and the Pacific. (more...)
How major U.S. stock indexes fared Wednesday How major U.S. stock indexes fared Wednesday
- May 28, 2020

By noon, it had dropped to 25,226.56. The Nasdaq Composite Index was up 72.14 points, or 0.77 percent, to 9,412.36. USA stock indexes S&P 500 and Nasdaq are under pressure from the technology sector, investors are also carefully watching the growth of tension in relations between the United States and China. (more...)
Boeing cuts more than 12,000 USA jobs, warns workers its not done Boeing cuts more than 12,000 USA jobs, warns workers its not done
- May 28, 2020

The company also disclosed it plans "several thousand remaining layoffs" in the next few months but did not say where those would take place. That shutdown, and closing other Boeing facilities, cost the company $137 million, and overall the pandemic has cost the manufacturer $1.7 billion , CNN reported. (more...)

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