Wall Street Aims To Open Lower

Weekly jobless claims report, the Conference Board’s Leading Indicators for April, Existing Home Sales report and the Fed weekly reports are the highlights on Thursday. In the early signs of the U.S. Futures Index point to a lower opening. Asian shares finished mostly lower, while European shares are trading down. Total COVID-19 infections are more than 5.11 million, while the […]

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Govt to discontinue 7.75% taxable savings bonds scheme

The bonds were available for seven years. Since these were not traded in the secondary market, redemption took place at maturity. The government will no longer sell its savings bonds that provided returns at 7.75 per cent (on a taxable basis), it said in a notification on Wednesday. This was a popular instrument among the retired, who used to invest […]

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European Shares Fall Ahead Of China’s Top Policy Meeting

European stocks were subdued on Thursday as investors digested weak exports data from Asia and looked ahead to a report on U.S. weekly jobless claims as well as a key policy gathering in China for directional cues. Meanwhile, the euro area private sector remained stuck in its deepest downturn ever in May due to the containment measures taken amid coronavirus […]

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‘Shopping for clothes won’t be a priority’

‘Fear psychosis has gripped the entire world.’‘Nobody is going to enter shops freely in the next 5, 6 months.’‘Secondly, the priority has changed.’‘Now that they have seen the bottom of the economy, people will prefer to save for tomorrow.’ In the first part of his interview to Shobha Warrier/Rediff.com, Raja Shanmugham, president, Tirupur Exporters Association, explained how garment exporters were […]

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SpaceX Chases History With Launch While Bigger Hurdles Loom

Elon Musk’s SpaceX is angling to become the first U.S. company to join an elite club of government space powers with the know-how and wealth to blast humans into orbit. While that’s uncharted territory, what comes next will be far more difficult. Musk is trying to turn such voyages into a sustainable business that supports a thriving space colony hundreds […]

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U.S. Stocks Remain Firmly Positive After Early Rally

After moving sharply higher in morning trading on Wednesday, stocks continue to see significant strength in the early afternoon. The strong upward move on the day has offset the pullback seen late in the previous session. The major averages have pulled back off their best levels of the day but currently remain firmly positive. The Dow is up 339.99 points […]

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Hong Kong police stamp out protests against national anthem bill

Hong Kong (CNN)Around 300 people were arrested across Hong Kong Wednesday, as sporadic protests over a controversial new national security law were met by a massive police presence and zero tolerance approach, with pepper spray, kettling and searches used to quickly contain any potential unrest. Riot police detained and arrested dozens of people in the busy shopping area of Causeway […]

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COVID-19 Could Push 60 Mln People Into Extreme Poverty: World Bank

COVID-19, which forced shutdown of advanced economies across the world, could push as many as 60 million people into extreme poverty, erasing much of the recent progress made in poverty alleviation, according to the World Bank. This was unveiled by World Bank Group President David Malpass Wednesday while announcing the details of its emergency operations to fight coronavirus pandemic in […]

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