Bailey Says Bank Of England Not Ruling Out Negative Interest Rates

Bank of England Governor Andrew Bailey said the UK central bank is currently reviewing all its tools and it would be foolish to rule out any one of them, including negative interest rates. “We do not rule things out as a matter of principle,” Bailey told lawmakers at a Treasury committee hearing on Wednesday. Specifically on negative interest rates, the […]

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Is mortgage forbearance an option? Here's what to know

Fox Business Flash top headlines for May 20 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Suddenly out of work or making due with reduced paychecks, an estimated 4.1 million Americans have sought forbearance on their mortgage, according to data released Monday by the Mortgage Bankers Association. That’s a staggering number, and experts anticipate more […]

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6 mortgage myths debunked

With mortgage rates in decline, more Americans will try to land a new home at a great deal or refinance an existing one. Along the way, watch out for these “mortgage myths.” (iStock) The average 30-year fixed mortgage rate stands at 3.55 percent in mid-May. That’s an interest rate that should grab the attention of any American house hunting or planning to refinance […]

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Cash, long a refuge in uncertain times, now under suspicion

Fox Business Flash top headlines for May 19 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here. Continue Reading Below In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty. […]

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New Uber layoffs bring total cuts to 25 percent of workforce

Shares of Uber spiked as much as 8 percent Monday on reports that the ride-hail giant is axing an additional 3,000 employees and closing 45 offices as the coronavirus slams the brakes on its business. Combined with 3,700 pink slips the company handed out earlier this month, the latest cuts — which CEO Dara Khosrowshahi announced in a company-wide email — […]

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JCPenney files for bankruptcy protection amid coronavirus woes

JCPenney filed for bankruptcy protection on Friday, the latest among traditional brick-and-mortar retailers to crumble as prolonged store closures due to the COVID-19 pandemic deliver the final blow to troubled businesses. The department store chain, known for selling family apparel, cosmetics and jewelry at roughly 850 locations, said it reached an agreement with creditors for about $900 million of fresh […]

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China’s Industrial Production Rebounds; Sales Fall At Slower Pace

China’s industrial production rebounded and the decline in retail sales slowed in April, suggesting that the economy is recovering slowly as coronavirus, or Covid-19, subsides. Industrial production grew 3.9 percent in April from the last year, reversing a 1.1 percent fall in March, data published by the National Bureau of Statistics showed Friday. Economists had forecast a moderate 1.5 percent […]

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US consumer sentiment inches higher unexpectedly following coronavirus stimulus checks

US economy, consumer will see coronavirus recovery: Moody’s economist John Lonski Moody’s Analytics chief markets economist on why he sees optimism in Federal Reserve Chairman Jerome Powell’s coronavirus comments. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below U.S. consumer sentiment edged higher in the first weeks of May after […]

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