Business

Fall in unemployment numbers buoys slow reopening of U.S. economy

Politico's Gabby Orr also tweeted that Trump said "Floyd is marveling at today's jobs numbers from Heaven", but appears to have deleted the comment. "Censoring out the president's important message of unity around the George Floyd protests is an unfortunate escalation of this double standard". A separate report showing state data on weekly initial claims for unemployment benefits showed over 42 million people have lost their jobs, at least temporarily, since mid-March when the ...

Business

Coronavirus Economy: May Unemployment Rate Improves To 13.3% As Economy Reopens

Alberta's unemployment rate hit a new record high of 15.5 per cent in May, just as COVID-19 restrictions began to lift and the province launched Stage 1 of its economic re-opening plan. Some of this difference may be accounted for by individuals applying for traditional UI instead of the new Pandemic Unemployment Assistance program, either by mistake or because of State requirements.

Business

British protesters topple 125-year-old statue of slave trader

Edward Colston's bronze memorial, situated on Colston Avenue in the city centre, was built to honour one of the "most virtuous and wise sons" of Bristol . He is a controversial figure as a big part of his death was accumulated through the trade and exploitation of slaves. The ex-England youth worldwide, who grew up in Bristol, said "pardon me for enjoying this moment of irony" as the statue was torn to the ground by ropes and thrown into one of the quays .

Business

Canada's unemployment rate reaches record 13.7%

The US unemployment rate declined to 13.3% in May, bucking forecasts expecting a near-record 19% reading. The government said Friday that the economy added 2.5 million jobs last month, driving unemployment down from 14.7% in April . Another sign that job growth will continue is May's jump in average weekly hours, as increasing hours can be a sign that employers need to hire more workers to meet demand.

Business

Tesla's Elon Musk calls for breakup of Amazon in tweet

Berenson tweeted a screenshot of the email he claims he received from Amazon, saying the company "censored" his book. It doesn't say coronavirus isn't real or doesn't kill people. Musk later opened the plant without getting sign-off from local authorities - then said the police could arrest him if they needed to. We'll have to wait and see if Musk will continue to accuse Amazon of being a monopoly.

Business

Oil prices rising in anticipation of OPEC meeting+

OPEC sources said an extension of cuts was contingent on compliance as countries that produced above their quota in May and June must compensate by cutting more in future months. Prices collapsed as the coronavirus and the COVID-19 illness it causes largely halted global travel. In addition to cuts of 9.7 million barrels per day in May and June, OPEC+ agreed at their April meeting that the cuts would be softened to 7.7 million bpd between July and December, and to 5.8 million bpd between ...


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