Business

Dollar firms as weak China retail sales sound warning

The safe-haven U.S. dollar rose modestly on Thursday afternoon as worries about rising numbers of coronavirus infections spurred a broader risk-off move, pushing U.S. equities lower. Another jump in coronavirus infections has forced California and other states to shut down again, raising fears the U.S. economy and labor market will continue to suffer. Retail sales […]

Business

Tesla registrations in California nearly halve in second quarter

Tesla Inc’s (TSLA.O) vehicle registrations nearly halved in the U.S. state of California during the second quarter, according to data from Cross-Sell, a marketing research firm that collates title and registration data. Most parts of the United States were under government-imposed stay-at-home orders between April and June to combat the spread of the coronavirus outbreak, […]

Business

Delayed tax day to bring revenue lift to cash-strapped U.S. states

A downward spiral in revenue in the wake of the coronavirus outbreak will pause this month for most U.S. states as Wednesday’s income tax filing deadline generates billions of dollars in payments that would have been due in April. But looking past the burst of last-minute payments of taxes incurred in 2019 before the pandemic […]

Business

Trumps tweet support for Goya Foods amid boycott campaign

U.S. President Donald Trump and his daughter and adviser Ivanka Trump are rallying support for Goya Foods on Twitter, as social media pressure continues for boycotting the largest Hispanic-owned U.S. food company over its CEO’s effusive praise for Trump. Early on Wednesday, the Republican president tweeted, without citing evidence, that “Goya Foods is doing GREAT. […]

Business

IMF chief warns global economy ‘not out of the woods,’ dangers lurk

Global economic activity is picking up after an unprecedented decline this year due to the coronavirus pandemic, but a second major wave of infections could trigger more disruptions, the International Monetary Fund’s top official said. IMF Managing Director Kristalina Georgieva said the fiscal costs of actions aimed at containing the pandemic and mitigating its economic […]

Business

ECB to go all the way on stimulus even as economy recovers, Lagarde says

The European Central Bank will use its stimulus firepower fully even as the euro zone economy shows some signs of rebounding from its pandemic-induced recession, ECB President Christine Lagarde said on Thursday. Tackling the biggest economic collapse in living memory, the ECB is buying massive amounts of debt and paying banks to lend out its […]

Business

Ladbrokes owner GVC’s long-time CEO Alexander quits

Ladbrokes owner GVC (GVC.L) announced on Thursday the departure of Chief Executive Officer Kenny Alexander, who transformed the company into one of the world’s biggest gambling businesses during 13 years at the helm. Shares in the company fell around 6% following the news that 51-year old Alexander will be replaced by Shay Segev. Segev has […]