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Job growth slows in US as virus cases surge
Hiring in the US slowed sharply last month as the country grappled with a surge in coronavirus cases.
Employers added just 245,000 jobs in November, the Labor Department said, below many economists' expectations.
The jobless rate dropped to 6.7% from 6.9% a month earlier, partially because many people stopped looking for work.
The report comes as several key virus relief programmes, inclu... |
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Levi's cuts 700 jobs due to falling sales
US jeans brand Levi Strauss is cutting 700 jobs, or about 15% of its corporate staff, as it grapples with the downturn caused by the pandemic.
The firm, hit by a 62% fall in sales in its most recent quarter, said the reductions were necessary "given the uncertainties" of the virus impact.
However, Levi's said shoppers are returning as stores reopen.
But it warned that it expected sales to... |
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Why a recession can be a good time to start a business
What do General Motors, Burger King, CNN, Uber and Airbnb all have in common?
They were all founded during economic downturns.
GM launched in 1908, when the US economy was in turmoil after "the Panic of 1907" financial crisis. Meanwhile, Burger King flipped its first patty in 1953, when the US was again in recession, and CNN started its news broadcasts in 1980, when US inflation hit almost 1... |
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Oil plunges for a second day on gloomy outlook
The UK benchmark for oil has slumped 10% to around $16 (£13) a barrel in another day of declines.
It comes after the price of West Texas Intermediate (WTI), the benchmark for US oil, fell below zero for the first time ever earlier this week.
The falls are a striking illustration of just how much economic activity has slowed around the world.
Prices have weakened sharply because of a combi... |
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Dow slides 360 points, capping volatile week as US reports job losses in March
U.S. stocks posted a third week of losses in the past four, capping a volatile stretch after the government reported a big loss in jobs last month because of the coronavirus pandemic.
The Dow Jones industrial average dropped 360.91 points to close at 21,052.53. The Standard & Poor’s 500 fell 1.5% to end at 2,488.65, as energy shares gave back gains after crude prices eased. For the week, the Do... |
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Stocks post worst week since financial crisis despite coronavirus aid hopes
U.S. stocks dropped Friday, capping their worst week since the height of the financial crisis as investors remained jittery about the direction of the economy despite hopes for government and central bank action to combat the coronavirus pandemic.
The Dow Jones industrial average tumbled 913.21 points to close at 19,173.98, falling back below 20,000 after wild price swings over the past week. ... |
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Shares plunge as face worst day since financial crisis
The UK's leading share index is facing its worst day since the financial crisis after £130bn was wiped off the value of top shares in early trading.
The dramatic drop follows global falls as a row between Russia and Saudi saw oil prices plunge by more than a fifth.
Shares were already reeling from fears of the impact of the coronavirus as cases globally continue to rise.
The day has alrea... |
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Amazon wins injunction in US 'Jedi' contract fight
A judge has hit pause on a major US government contract in a win for Amazon, which had challenged the award.
The tech giant, which had been favoured to win the cloud computing deal, sued last year after the US Defense Department gave the opportunity to arch-rival Microsoft instead.
Amazon has accused officials of bowing to pressure from Donald Trump.
The US president has often attacked Am... |
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Rolls-Royce plans mini nuclear reactors by 2029
Mini nuclear reactors could be generating power in the UK by the end of the decade.
Manufacturer Rolls-Royce has told the BBC's Today programme that it plans to install and operate factory-built power stations by 2029.
Mini nuclear stations can be mass manufactured and delivered in chunks on the back of a lorry, which makes costs more predictable.
But opponents say the UK should quit nucl... |
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There are more ways to establish credit now than ever: Here are the smart ways to do it
Dipping your toe into the world of credit? You’re in luck: There are more ways to establish credit now than there were in decades past.
You build your credit score by adding positive information to your credit reports, which are files of financial data about you. These files are compiled by the three major credit bureaus, Experian, Equifax and TransUnion. Lenders, landlords and employers may ch... |
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