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Reuters - Business

Explainer: May’s jobs report stunner: real deal or head fake?

Reuters
WASHINGTON (Reuters) – 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. FILE PHOTO: People who lost their jobs wait in line to file for unemployment following an outbreak......
Reuters - Business

Bonds falter as blazing stock rally lures investors

Reuters
(Reuters) – Improving U.S. economic data is pushing investors out of U.S. government bonds at the fastest pace in months, the latest sign that risk appetite is returning to broader markets. FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange in response......
Reuters - Business

Surprise U.S. unemployment rate drop leaves out blacks, Asians

Reuters
(Reuters) – 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. FILE PHOTO: People who lost their jobs wait in line......
Reuters - Business

Equities surge, bonds tumble on surprise U.S. jobs gains

Reuters
NEW YORK (Reuters) – 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. U.S. nonfarm payrolls rose by 2.509 million jobs......
Reuters - Business

U.S. labor market unexpectedly improves; recovery years away

Reuters
WASHINGTON (Reuters) – 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. The Labor Department’s closely watched employment report......
Reuters - Business

Trump touts job gains as ‘greatest comeback in American history’

Reuters
WASHINGTON (Reuters) – 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. U.S. President Donald......
Reuters - Business

United Airlines closing three of four international bases for flight crew

Reuters
FILE PHOTO: A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren/File Photo CHICAGO (Reuters) – United Airlines Holdings Inc (UAL.O) is closing three out of four international bases for flight attendants, according......
Reuters - Business

Cafe Rouge, Bella Italia could see nearly a third of outlets closed: sources

Reuters
LONDON (Reuters) – Britain’s high-street restaurant chains Bella Italia, Cafe Rouge and Las Iguanas could see around 30% of their outlets cut, two sources told Reuters, as their owner pushes ahead with talks to sell the businesses stricken by the COVID-19 crisis. FILE PHOTO: A worker packs away tables and......
Reuters - Business

Bombardier to cut 2,500 aviation jobs as pandemic dents travel demand

Reuters
(Reuters) – Canadian plane and train maker Bombardier Inc (BBDb.TO) said on Friday it would cut 2,500 jobs, or about 11% of the workforce at its aviation unit, as the coronavirus pandemic’s crushing impact on the air industry adds to its long list of problems. FILE PHOTO: a Bombardier Global......
Reuters - Business

U.S. unemployment rate unexpectedly falls in May

Reuters
FILE PHOTO – A man speaks with a library worker after receiving an unemployment form, as the outbreak of coronavirus disease (COVID-19) continues, in Miami Beach, Florida, U.S., April 8, 2020. REUTERS/Marco Bello WASHINGTON (Reuters) – The U.S. unemployment rate unexpectedly fell in May and layoffs abated, the Labor Department......
Reuters - Business

British Airways parent company considering legal challenge to UK quarantine rules

Reuters
LONDON (Reuters) – The owner of British Airways is considering launching a legal challenge against the UK’s looming quarantine plan, its chief executive said, warning that the new rules would torpedo its return to flying in July. FILE PHOTO: Tail Fins of British Airways planes are seen parked at Heathrow......
Reuters - Business

U.S. unemployment rate seen near 20% as COVID slams jobs market again in May

Reuters
WASHINGTON (Reuters) – The U.S. unemployment rate likely shot up to almost 20% in May, a new post World War Two record, with millions more losing their jobs, exposing the horrific human toll from the COVID-19 crisis. FILE PHOTO – A man speaks with a library worker after receiving an......
Reuters - Business

Explainer: No one really knows how many Americans need unemployment benefits

Reuters
(Reuters) – Another 1.9 million people filed for unemployment benefits for the first time last week, according to data released by the Labor Department on Thursday, marking 11 straight weeks in which millions of Americans have filed claims for jobless benefits. FILE PHOTO: People who lost their jobs wait in......
Reuters - Business

U.S. new weekly jobless claims drop below 2 million

Reuters
FILE PHOTO: People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fayetteville, Arkansas, U.S. April 6, 2020. REUTERS/Nick Oxford/File Photo WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits dropped below......
Reuters - Business

HSBC, StanChart criticised for backing Hong Kong security law

Reuters
HONG KONG/LONDON (Reuters) – Senior British politicians criticised HSBC (HSBA.L) and Standard Chartered (STAN.L) on Thursday after the banks backed China’s national security law for Hong Kong, in conflict with the British government’s opposition to the proposed legislation. In a break from their usual policy of political neutrality, the British......
Reuters - Business

U.S. new weekly jobless claims seen falling below 2 million

Reuters
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits likely dropped below 2 million last week for the first time since mid-March, but remains astonishingly high as companies adjust to an environment that has been significantly changed by COVID-19. FILE PHOTO: People who lost their jobs wait in......
Reuters - Business

Amazon is sued over warehouses after New York worker brings coronavirus home, cousin dies

Reuters
NEW YORK (Reuters) – Amazon.com Inc has been sued for allegedly fostering the spread of the coronavirus by mandating unsafe working conditions, causing at least one employee to contract COVID-19, bring it home, and see her cousin die. FILE PHOTO: The logo of Amazon is seen at the company logistics......
Reuters - Business

SoftBank launches $100 mln fund investing in ‘people of colour’

Reuters
TOKYO (Reuters) – SoftBank Group Corp (9984.T) is launching a $100 million fund to invest in “companies led by founders and entrepreneurs of colour”, in the latest corporate action as protests roil the United States. FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference......
Reuters - Business

Renault finalises 5 billion euro state-backed loan

Reuters
A Renault car is seen in a show room at a Renault carmaker dealer, amid the coronavirus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium May 29, 2020. REUTERS/Yves Herman PARIS (Reuters) – Renault (RENA.PA) finalised on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the......

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