Thursday, 14 May 2020

Daily Investor Update: Seven weeks into coronavirus lockdowns, Fed has a new, darker message

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Seven weeks into coronavirus lockdowns, Fed has a new, darker message

One Thursday morning seven weeks ago, Federal Reserve Chair Jerome Powell made a rare appearance on NBC's "Today Show" to offer a reassuring message to Americans dealing with economic fallout from measures to contain the coronavirus outbreak.

Disney reaches deal with Walt Disney World unions on safeguards for returning to work

Walt Disney Co and unions representing workers at Florida's Walt Disney World have reached an agreement on safeguards to protect employees from coronavirus, a union statement said on Thursday, removing one of the company's hurdles to reopening its popular theme parks.

Trump says doesn't want to talk to Xi right now, could even cut China ties

U.S. President Donald Trump signaled a further deterioration of his relationship with China over the novel coronavirus, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with the world's second largest economy.

Delta, others wrestle with too many planes, too many pilots

Delta Air Lines moved to retire its Boeing Co 777 fleet and reduce its pilot ranks on Thursday as it joins other airlines wrestling with the need to shrink their operations to match reduced air travel due to the coronavirus crisis.

S&P gains as investors juggle pandemic fears with recovery prospects

The S&P edged higher on Thursday as investors weighed the prospect of additional stimulus and states reopening for business against bellicose remarks from President Donald Trump about U.S.-China trade negotiations and dire warnings from a whistleblower about the U.S. response to the coronavirus pandemic.

Lufthansa restores routes, targets 1,800 weekly flights

Lufthansa plans to resume flights to destinations including Los Angeles, Toronto and Mumbai next month as it begins to restore some of the capacity grounded by the coronavirus crisis, the German airline group said on Thursday.

Lower-income workers hit harder by coronavirus job losses, Fed survey finds

The coronavirus crisis drove a dramatic weakening in American households' finances as millions of people lost work or had their hours or pay reduced, with low-wage workers taking the biggest hit, according to a report released by the Federal Reserve on Thursday.

U.S. SEC charges two companies, CEO over misleading COVID-19 claims

The U.S. Securities and Exchange Commission said on Thursday it has charged two companies and a chief executive officer with making misleading claims related to COVID-19, the disease caused by the novel coronavirus.

Uber offer for Grubhub fans worries over delivery fees charged to restaurants

The possibility that Uber Technologies Inc , which runs Uber Eats, could acquire Grubhub Inc is reigniting some restaurants' worries over the commissions charged to eateries by the third-party delivery companies.

Second layoffs, backlogs wave keeps U.S. jobless claims sky high

The novel coronavirus crisis continues to pummel the U.S. labor market, with the number of Americans filing for unemployment benefits falling less than expected last week, suggesting a second wave of layoffs in industries and jobs not initially impacted by business closures caused by the pandemic.

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