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United Kingdom plunges into largest recession on record

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ADP Small Business Report for April 2020

Unemployment Due to Coronavirus Crisis in US Reaches 26.4 Million as 4.4 Million Workers File New Claims for Jobless Benefits in Past Week. The private payrol...

Coronavirus outbreak: Trump valet tests positive for COVID-19, President tests negative

In early March, the president said that he would continue to shake people's hands , despite health officials' warnings, saying "you can't be a politician and ...

Trump, Putin speak over phone on COVID-19, arms control

Later, US officials insisted the supplies were purchased, albeit at a "discount". Russian President Vladimir Putin on Thursday exchanged good wishes for Vic...

Grant to help Vermont surplus milk products get to foodbank

Producers will be eligible for aid to cover 70% of income they have lost during April and May. It also comes as the government today backed a £1 million campa...

Uber Cuts Workforce by 14 Percent Due to Plummeting Ride-Hailing Demand

That was a 61% reduction from a year ago. Twenty-two of 29 analysts have a Buy rating on Lyft's shares and the remainder have a Hold rating. Lyft ended ...

Zoom Buys Keybase to Bolster Encryption in First Acquisition

To address security concerns, Zoom embarked on a 90-day plan which has included hiring former Facebook security chief Alex Stamos and other known industry figur...

US firms return virus loans as Treasury threatens penalties

Nearly 2.4 million applications had been processed so far, the SBA said. Wells, the third-largest USA bank by assets, was unable to fully participate in the a...

U.S. stocks end higher amid oil rally, hopes for economy reopening

The S&P 500 was up 25.70 points, or 0.90 per cent, to end at 2,868.44. For the second day in a row a late fall has pushed Wall Street lower but unlike Tues...

Bank of England keeps interest rates at record low of 0.1%

Such a scenario would require very significant monetary and fiscal stimulus, it said. Consumer confidence has declined markedly and housing market activity has ...

Uber to cut 3,700 jobs as pandemic ravages its business

Since February, more than 2,000 California ride-hailing drivers have filed claims against the companies , alleging Uber and Lyft owe them over $630 million in ...

Million More Unemployment Claims Filed; 33.5 Million In 7 Weeks

It's such a different animal from anything that we've ever seen". The government will offer another read on employment on Friday with the closely watched mo...

China April copper imports rise 4.3% month-on-month - Reuters calcs

Exports rose 3.5 per cent in dollar terms in April from a year earlier, while imports dropped 14.2 per cent, the customs administration said Thursday. But many ...

Oversupply Fears Weigh on Oil Prices

Gasoline stocks in the US, the world's biggest producer and consumer of oil, fell by 2. 2 million barrels, API reported , compared with analysts' expectations...

McDonald’s workers shot in argument over closed dining room

According to officers, one male victim was shot in the shoulder and the second male victim was shot in the arm. Their injuries are not considered life-threateni...

Donald Trump backtracks on scrapping White House coronavirus taskforce

He also dismissed two new projections that painted a gruesome picture of what could happen if the country lifts shutdown orders too quickly: a Johns Hopkins U...

Bank of England predicts economic record crash and soaring unemployment

In its minutes the MPC said the illustrative scenario incorporates a "very sharp fall in UK GDP in 2020 H1 and a substantial increase in unemployment" in additi...

ADP's April private jobs report shows worst losses in its history

The Labor Department's official report for April, which also includes the government sector, is expected to show a drop of more than 20 million jobs and unemplo...

Nigeria's Bonny light crude up by 22.7% as global oil demand improves

Also, in a related development, the Brent crude surged to $31.06 per barrel, while the American WTI crude is selling at $24.69 per barrel. Worldwide bench...

Amazon workers told to work overtime as demand for online shopping surges

Inc.is prioritizing the stocking of household staples and medical supplies as it struggles to deal with a surge in demand for online orders from customers avoid...

UP govt hikes petrol price by Rs 2/L, diesel by Rs 1/L

However, the notification clarified that the retail price of fuels won't rise to avoid hurting the consumer. Diesel price has been hiked to Rs 69.39 per litre...

Lockdown restrictions lifted in Australia on Friday

The federal government's coronavirus tracing app COVIDSafe is available for download from your phone's app store. "That's a welcome response, and we would lik...

Rishi Sunak planning to wind down furlough scheme by July

UK Chancellor of the Exchequer Rishi Sunak said, 5 May, that there would be no sudden cliff edge in June but that he was looking at the best way to phase the sc...

EU Faces 'Recession Of Historic Proportions,' Economic Forecast Warns

The EU's economic commissioner, Paolo Gentiloni, said there was an urgent need to mitigate the inevitable exacerbation of existing social and economic fissures,...

Carnival Cruise Line Announces Limited Return to Sailing

The filing cited "meaningfully lower" cruise ship bookings for the rest of 2020 and into 2021, in addition to lower pricing levels. A month after the no-sail or...

Airbnb laying off 1,900 employees due to travel decline

CEO Brian Chesky announced the elimination of almost 2,000 jobs at Airbnb in a blog note to employees Tuesday, writing, "This is my seventh time talking to yo...

Banks receive hundreds of applications within minutes for small business lockdown loans

However, the loans have come in for criticism by some businesses, especially smaller ones. How will these loans work and who is eligible to apply for them? Borr...

Amazon exec quits after company fires employee activists

Amazon has said it fired Costa and Cunningham for "repeatedly violating internal policies". Vice-president and top engineer at Amazon Web Services Tim Bray ...

Coronavirus: UK service sector activity plummets at record pace

Data firm IHS Markit said its flash US Composite Output Index, which tracks the manufacturing and services sectors, tumbled to a reading of 27.0 last month. Thi...

Native American Coronavirus Fund Distribution

The Treasury's net borrowing last fiscal year, by contrast, was $1.28 trillion. The previous record for second-quarter borrowing was $344 billion in 2010. "Even...

EU forecasts recession of ‘historic proportions’ with huge output fall

The european Commission has also predicted, on Wednesday, a recession of "historic" in the EU this year, with a record loss of GDP of 7.7 % in the euro zo...