Argentina May Spend Over $880 Million to Prop Up State Airline

Argentina may have to dole out at least $880 million in subsidies this year to keep its state airline afloat, further weighing on government finances after the nation’s ninth sovereign default. Aerolineas Argentinas President Pablo Ceriani said the carrier’s budget shortfalls, up from about $680 million last year, will persist until demand rebounds, which isn’t expected for a couple of […]

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Great Depression-Like Jobless Rate Seen for U.S.: Eco Week Ahead

The devastation of the coronavirus pandemic on the U.S. labor market will be on display this week, with Friday’s jobs report likely to show the unemployment rate soared to nearly 20% and employers cut millions more from their payrolls in May. The Labor Department’s data may mark the worst of the fallout from the disease as states have started to […]

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Varney: Elon Musk is the most important executive in the world

Varney: Elon Musk isn’t just a ‘showman,’ he’s a ‘game changer’ FOX Business’ Stuart Varney says his initially opinion on Tesla CEO Elon Musk was wrong. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below FOX Business’ Stuart Varney, in his latest “My Take,” admitted that he has been "wrong" about Tesla […]

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Nordstrom's sales fell 40% as coronavirus shut stores

Fox Business Flash top headlines for May 28 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here. Continue Reading Below Nordstrom saw its sales plummet 40 percent in the first quarter after the coronaviirus pandemic caused the upscale department store […]

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California regulator approves PG&E's Chapter 11 reorganization plan

Fox Business Flash top headlines for May 28 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below (Reuters) – PG&E Corp said on Thursday its Chapter 11 reorganization plan has been confirmed by a California power regulator, […]

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Bath & Body Works closing 50 US stores after coronavirus shutdown

Coronavirus will permanently change retail, travel: Resort owner Grove Shopping Center and Miramar Beach Resort owner Rick Caruso discusses extreme measures taken to reopen Los Angeles malls and resorts. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below Malls across the nation are beginning to reopen during the COVID-19 pandemic, […]

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Asia Stocks Mixed; U.S. Futures Dip; Dollar Down: Markets Wrap

Asian stocks saw a mixed open Wednesday as investors weighed a report that the Trump administration is considering sanctions on Chinese officials, another sign of deteriorating Sino-American relations. The dollar and Treasuries held overnight losses. Shares in Seoul and Sydney dropped, while those in Tokyo saw smaller losses. S&P 500 futures dipped after the gauge closed at an 11-week high. […]

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NYSE reopens trading floor

New York (CNN Business)Floor trading reopened at the New York Stock Exchange Tuesday. New York Governor Andrew Cuomo rang the opening bell, and traders exulted in cheers. It was the perfect setting for investors’ unbridled enthusiasm about the markets. The Dow (INDU) rocketed 580 points, or 2.4%, higher and the broader stock market rallied — boosted by optimism about the […]

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The Bond Market Thinks It Knows What’s Coming Next From the Fed

The Federal Reserve has already unleashed a barrage of new policies to keep the economy out of depression. Investors reckon it’s lining up another one. The Fed’s version of the strategy known as yield-curve control is expected to involve capping yields on government bonds of a chosen maturity -– by buying however much it takes. For central banks that already […]

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Singapore Slashes Growth Target With 7% Contraction Possible

Singapore’s economy probably will contract 4% to 7% this year as the coronavirus outbreak and measures to contain it pummel the trade-reliant city state. The government revised its forecast from a previous projection for a contraction of 1% to 4% as the outlook for external demand deteriorates, the Ministry of Trade and Industry said in a statement Tuesday. The MTI […]

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