More From Palash Ghosh
COVID-19 Pandemic Decimating US Coal Industry Production, Jobs
Plunging demand, low prices has caused havoc for U.S. coal mining companies
Aug 12, 2020
ABN AMRO To Cut 800 Jobs As It Slashes Investment Banking Unit, Departs Trade, Commodity Financing
ABN AMRO was heavily exposed to energy trading losses in Asia and the Wirecard fiasco in Germany
Aug 12, 2020
Media Tycoon, Billionaire Sumner Redstone Dies At 97
Redstone oversaw a vast media empire that included CBS, Paramount, MTV, DreamWorks
Aug 12, 2020
Tesla Unveils Five-For-One Stock Split As Shares Have Surged Since March
Tesla’s stock split comes on the heels of a similar measure by Apple
Aug 12, 2020
Britain Enters Recession As GDP Plunged By Record 20.4% In Second Quarter
Analysts fear that job losses will accelerate as government furlough, wage subsidy schemes expire
Aug 12, 2020
Mortgage Delinquency Rates Jumped To More Than Five-Year High In May; Miami, New York Hardest Hit
The overall mortgage delinquency rate more than doubled from May 2019 to May 2020.
Aug 11, 2020
UK Department Store Chain Debenhams Cuts 2,500 Jobs
Debenhams went into administration in April and has already cut 4,000 jobs
Aug 11, 2020
Credit Card Debtors Worry About Making Minimum Payments If COVID-19 Pandemic Persists
Eighty-seven percent of millennials said they might not make minimum payments if they’re unable to work.
Aug 11, 2020
UK Insurer Prudential Plans To Spin Off US Businesses
Prudential plc will now focus on its operations in Asia, Africa
Aug 11, 2020
Bezos, Dimon Other CEOs Pledge To Hire 100,000 Minority Workers In New York
Minority, low income New Yorkers have suffered the most from unemployment and the pandemic
Aug 11, 2020
UK Has Lost 730,000 Jobs Since March, Analysts Warn Of Worse Days Ahead
Economists point out the official jobless data does not reflect the true picture since millions have been furloughed on placed on unpaid leave.
Aug 11, 2020
Apple CEO Tim Cook’s Net Worth Surpasses $1 Billion, But He's 'Poor' Compared To Some Tech Peers
But Cook’s wealth pales in comparison to peers like Bezos and Zuckerberg, who founded their respective companies
Aug 10, 2020
Oilfield Job Losses Intensifying, May Get Worse As Pandemic Wreaks Havoc On Industry
Oilfields have lost almost 100,000 jobs since the pandemic emerged
Aug 10, 2020
Banks In US, Europe Preparing For Full Impact Of Coronavirus Pandemic
Aside from anticipated loan losses and bankruptcies, banks are also dealing with very low interest rates.
Aug 10, 2020
Energy, Hospitality Sectors At Greatest Risk Of Cash Crunch From Pandemic, NY Fed Says
Companies in the oil-mining and food-entertainment-hospitals suffered disproportionately from the pandemic
Aug 10, 2020
Hong Kong Banks May Suspend Accounts Of Officials Sanctioned By US
Banks are researching whether the networks of the officials put them at risk.
Aug 10, 2020
McDonald’s Sues Former CEO Steve Easterbrook For Allegedly Lying, Destroying Nude Photos
The board said it would not have agreed to a lucrative separation pact had it known about additional relationships
Aug 10, 2020
China Sanctions 11 US Officials, including Senators Cruz, Rubio, Toomey, Cotton, In Apparent Retaliation
China did not specify what exactly such sanctions will mean for the affected individuals
Aug 10, 2020
Eastman Kodak Shares Tank 40% In Monday Pre-Market After Federal Agency Pauses Government Loan
The SEC is probing Kodak for loan disclosure issues and unusual trading activity
Aug 10, 2020
Friday’s Stock Market Close: US Equities Finish Mixed As Strong July Jobs Report Offset By Stalled COVID-19 Relief Bill Talks
U.S. stocks were mixed on Friday although the economy added 1.8 million jobs in July.
Aug 07, 2020
Trump’s Order To Prohibit WeChat May Hurt Sales Of Apple’s iPhones In China
The order would prohibit Apple from providing the WeChat app on its phones in China.
Aug 07, 2020
White House Sanctions 11 Chinese, Hong Kong Officials, Including Carrie Lam, Over Rights Clampdown
Hong Kong Chief Executive Carrie Lam was specifically sanctioned because she is “directly responsible for implementing Beijing’s policies of suppression of freedom." ”
Aug 07, 2020
Goldman Sachs Lowers Second Quarter Earnings By $2 Billion After Increased Legal Costs
The investment bank agreed to pay the Malaysian government $3.9 billion to settle a criminal investigation.
Aug 07, 2020
Friday’s Stock Market Open: Equities Slip As Strong July Jobs Growth Countered By Rising China Tensions
U.S. stocks fell on Friday although the economy added 1.8 million jobs in July.
Aug 07, 2020
White House Seeks To Make It Harder For Chinese Companies To List On Stock Exchanges
Trump administration proposed tougher guidelines for Chinese firms seeking U.S. listings
Aug 07, 2020
Thursday’s Stock Market Close: US Equities Rise, Nasdaq Closes Above 11,000 For First Time
U.S. stocks rose on Thursday ahead of Friday’s jobs report.
Aug 06, 2020
Capital One Bank Hit With $80 Million Fine Over Cybersecurity Issues, Hacking Incident
The fine relates to a data breach incident from 2019 that affected more than 100 million people
Aug 06, 2020
Chinese Authorities Allow First Bankruptcy By Commercial Bank In 20 Years
Baoshang Bank collapsed due to illegal loans secured by Xiao Jianhua
Aug 06, 2020
New York Attorney General Letitia James Files Lawsuit Against NRA
Attorney General Letitia James is accusing the gun-rights group of spending millions of dollars on fancy meals, private jets and vacations to the Bahamas.
Aug 06, 2020
Thursday’s Stock Market Open: US Equities Slip As Initial Jobless Claims Again Top 1 Million
U.S. stocks fell on Thursday as 1.2 million Americans filed for jobless claims last week
Aug 06, 2020
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