Friday, 3 April 2020 23:35 WIB
Wall Street's main indexes fell on Friday as the longest period of employment growth on record in the United States came to an abrupt end, with data showing that hundreds of thousands of people lost their jobs last month due to the coronavirus.
The Labor Department's report confirmed that a recession was underway as business activity came to a standstill, but investors fear it did not reflect...
Friday, 3 April 2020 19:48 WIB
The U.S. economy shed 701,000 jobs in the month to mid-March, the government said in a monthly labor market report that largely predates any impact from the Covid-19 pandemic on the U.S. economy.
The figures, normally the most eagerly-awaited data of the month in global financial markets, have already been rendered largely meaningless by the unprecedented spike in jobless claims over the...
Friday, 3 April 2020 23:26 WIB
Sterling sank on Friday after data showed a record slump among Britain's services and manufacturing firms in late March as businesses and households paused activity to try to prevent the spread of the coronavirus.
Sterling was last down 1.5% at $1.2205, having fallen earlier to its weakest level since Tuesday at $1.2243. Against the euro, it fell 0.8% to 88.32 pence.
Kit Juckes, macro...