The novel coronavirus pandemic has forced e-commerce giant Amazon to postpone its marquee shopping event Prime Day. The company now plans to hold the event not before early October at the earliest. While previously planning on a September date for… Read More ›
New jobs were created by companies in the American economy in the month of June at a record pace as companies hired more people following relaxation of novel coronavirus pandemic related restrictions. With addition to 4.8 million payroll jobs in… Read More ›
The New York Federal Reserve Bank purchased agency mortgage-backed securities worth $22.705 billion during the June 25 to July 1 period. This is compared to $22.859 billion purchase in the previous week. The move is aimed at helping the housing… Read More ›
On Friday, official data showed retails sales in Australia saw a record surge in May following a wide scale easing in coronavirus lockdowns which allowed entire sectors to reopen. The bounce back underscores growing confidence that consumer spending will not… Read More ›
In a statement, the Europe, Middle East and Africa head of Citigroup said, the bank is planning to hire more bankers in Saudi Arabia for its direct custody business. The development comes in the wake of Citigroup adding more than… Read More ›
On Friday the People’s Bank of China (PBOC) skipped open market operations making the biggest weekly net fund drain in four and a half months. In a statement on its website, the PBOC said, the move was due to “relatively… Read More ›
On Thursday, the European Union’s First Chamber of the Court of Justice ruled that BlackRock is not exempt from paying value added tax (VAT) on part of a service from an outside supplier to help manage its funds. BlackRock, the… Read More ›
PG&E Corp has emerged from Chapter 11 bankruptcy proceedings marking an end to a long-drawn restructuring process which began after its equipment sparked some of the deadliest wildfires in California. Thanks to a state-backed fund, PG&E managed to get out… Read More ›
While the June numbers for factory activity of China were encouraging and was better than expected, fueling hopes for a fast economic recovery globally and domestically. However, the Chinese economy will however be dragged for some time because of the… Read More ›
With China imposing its draconian security law in Hong Kong in violation of a prior agreement, on Monday the Trump Administration began taking steps to eliminate Hong Kong’s special status under U.S. law; it is also halting defense exports and… Read More ›
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