New York (CNN Business)Robinhood has officially started its life as a public company, marking a milestone for a company that has revolutionized the way Americans trade. The controversial trading platform opened at $38 on Thursday, matching its initial public offering price. That suggests Wall Street bankers priced the IPO correctly but that demand is lukewarm. Robinhood quickly broke below the […]
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Shares were higher across the board as we reached the midway point for Thursday trading. Continuing and initial jobless claims came in higher than expected, while the first estimate for second-quarter gross domestic product came in much lower than expected at 6.5%. The Wall Street estimates called for 8.5%. Supply chain issues were once again cited as a disrupting force […]
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(Reuters) – Emerging markets investors are increasingly concerned about the outlook for economic growth in developing countries and are clinging to high cash levels with scarce plans to deploy funds in the months to come, an HSBC poll showed on Thursday.FILE PHOTO: A man stands in front of an electronic display at B3 Brazilian Stock Exchange after an automatic circuit […]
Read moreAirlines struggle to find qualified pilots as travel rates rise FOX Business’ Jeff Flock speaks with Western Michigan College of Aviation Dean Dave Powell on the need for qualified pilots as air travel resumes. Airline travel is coming back in a big way and, while Nevada's second-largest airport, Reno-Tahoe International, is warning of fuel shortages, it has little to do […]
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(Reuters) – Canada and Mexico imported millions of doses of AstraZeneca’s COVID-19 vaccine and offered them to the public without health officials properly inspecting the operations of the U.S. manufacturer, according to inspection records and the regulators involved.FILE PHOTO: Vial labelled “AstraZeneca coronavirus disease (COVID-19) vaccine” placed on displayed AstraZeneca logo is seen in this illustration picture taken March 24, […]
Read moreFed decision like shooting firehose into a flood: Jim Grant Grant’s Interest Rate Observer founder and editor Jim Grant comments on Jerome Powell’s decision on rates. U.S. stock futures were mixed ahead of the release of second-quarter gross domestic product. Dow Jones Industrial Average futures rose 121 points, or 0.35%, while S&P 500 futures ticked up 0.14% and Nasdaq 100 […]
Read moreFitch Ratings on Wednesday downgraded China Evergrande one notch from B to CCC, while S&P Global Ratings on Monday took the property developer down two notches. China Evergrande has been struggling with liquidity issues since last year. However, last week's news of an asset freeze refocused attention on the company's debt troubles. Major credit ratings agencies this week downgraded China's […]
Read moreSYDNEY (Reuters) -Australia’s biggest city Sydney posted a record one-day rise in local COVID-19 cases on Thursday and warned the outbreak would get worse, as authorities sought military help to enforce a lockdown of 6 million people poised to enter its sixth week.A lone bird walks past the quiet Circular Quay train station during a lockdown to curb the spread […]
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The Federal Reserve acknowledged it is making some progress toward the economic improvement it wants to see before slowing down its bond buying. But Fed Chairman Jerome Powell also signaled the central bank wants to see more data, signaling to some in the markets that the Fed may now wait until November before it formally announces it is tapering the […]
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