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US jobless claims fall, still millions laid off; Labour market distress persists

13-06-2020
US Labour Department's jobless claim data for the week that ended on June 6 had reported a decline of applications by 355,000, however, still millions of Americans were applying for unemployment benefits

Washington says US household wealth fell by 5.6% in Q1, 2020 as pandemic hurts

13-06-2020
US Federal Reserve said on Thursday that the US household wealth was slumped by 5.6 per cent over the first quarter of the year

Oil slides 8 per cent as pandemic-driven demand concerns re-emerge

12-06-2020
Both US and UK crude tumbled as much as 8 per cent on Thursday over frets of a resurgence of pandemic outbreak amid an ongoing demand destruction

Fed pledges years of extraordinary support in US economy’s ‘long road’ to recovery

11-06-2020
On Wednesday's FOMC Minutes, the Fed Chair Powell had pledged to a number of fiscal stimulus for years including at least $120 billion worth of bond buybacks every month

US layoffs ease in April, hiring slumped to record low: JOLTS

10-06-2020
On Tuesday, JOLTS data for April had reflected a mixed texture with layoffs easing and new hiring tottering to an all-time low

Poland halts work at 12 coal mines in light of pandemic; union inflames

10-06-2020
The Polish Government of Law and Justice party had halted work at 12 coal mines for three weeks on Tuesday citing growing risks of contagion among the miners

Cambridge National Bureau confirms US economy entered recession in February

09-06-2020
US National Bureau of Statistics had confirmed on Monday that the US economy had fallen into a recession back in February this year

Saudi oil exports' revenue dive 21.9% in first quarter

09-06-2020
On Sunday, Saudi official data had revealed that the Kingdom's oil exports' revenue had suffered a slump of 21.9% over the first quarter of the year

China’s Forex reserves unexpectedly rise in May; regulator sees stability

09-06-2020
On Sunday, China's Central Bank data had revealed that the country's FX reserves grew unexpectedly last month

Kosovo removes trade barriers on Serbia en routes to UN recognition

08-06-2020
Newly elected Government of Kosovo had removed all of the trade barriers with Serbia in a bid to resume talks

$1 trillion Ocean shipping industry sinks as pandemic plummets retailers

08-06-2020
As a raft of retailers had been grunting for fresh airs amid a pandemic-led drawdown, $1 trillion ocean shipping industry seems to have bottomed

Zimbabwe grain deficit to widen by 1.17 million tons as nationwide hunger looms large

08-06-2020
Zimbabwean official crop report said that the nation's grain deficit would likely to double up this year, stoking frets of nationwide hunger

Canada posts surprise job gains in May; analysts say June could be even better

08-06-2020
In line with an unprecedented 2.5 million job gains in the United States on May, Canada had also reported a surprise job gain last month

OPEC, Russia extend record oil output cuts until end-July

07-06-2020
In the latest leg of meeting of the OPEC+ leaders, OPEC members and Russia-led allies had decided to extend record output cut until end-July

ECB’s Lagarde forecasts big 2020 recession, partial rebound next year

07-06-2020
After release of a mammothlike $1.35 trillion debt buyback program, ECB Chief Lagarde said in a statement that the bloc's economy would likely to face off deep recession this year in a base-case scenario

Oil surges 5 per cent in 6th straight weekly gain on US job data, OPEC+ meet

06-06-2020
Both US and Brent crude futures' prices gained as much as 5 per cent over hopes of Saturday's OPEC+ meet alongside an upbeat US non-farm payroll data

US Labour market rebounds unexpectedly in May, recovery years away

06-06-2020
US non-farm payroll data released earlier on Friday had revealed that the US economy had added 2.5 million jobs last month against an analysts' forecast of a decline of 9 million jobs

US initial Jobless claims drops bellow 2 million for first time since mid-March

06-06-2020
On Thursday, US Labour Department said that the Americans filing for initial jobless claims fell below 2 million for the first time since late-March

American billionaires’ wealth jump over $500 billion during pandemic outbreak

06-06-2020
An IPS report published earlier this week had revealed that the American billionaires' net asset had surged over 19 per cent during the pandemic-driven forced lockdown

US labour market stabilizes as layoffs slow down

04-06-2020
US May Private Payroll data released on Wednesday had revealed that the US private employers had shrugged off 2.7 million jobs last month compared to a staggering 20.2 million in April

Australian Treasurer confirms recession as bushfires, pandemic gobble down growth

04-06-2020
Australian Treasurer said on Wednesday that the country had entered into a recession for the first time since early 1990s

Moody’s cut India’s rating to lowest investment grade with negative outlook

02-06-2020
On Monday, New York-based credit rating agency Moody's had slashed India's credit rating to Baa3 with a negative outlook citing a persistent sluggishness in economic growth

New York lender Citi says Global remittances could fall by $100 billion in 2020

02-06-2020
On Monday, Citibank analysts wrote in a client note that this year could witness a plunge in global remittances by $100 billion in the worst-case scenario

China May factory activity slips marginally amid signs of rebound in domestic demands

01-06-2020
China's National Bureau of Statistics data released earlier on Sunday had revealed that the world's second-largest economy's manufacturing activity had slipped marginally in May

US crude oil opens higher ahead of OPEC+ meet,closes May with record 88% monthly gain

01-06-2020
On Monday, the US crude opened the market broadly higher in early Asia-Pacific trading following a record 88 per cent monthly gain in May