Kroger says demand easing after coronavirus stockpiling

Kroger says demand easing after coronavirus stockpiling
(Reuters) – U.S. supermarket chain Kroger Co (KR.N) stopped short of raising its annual forecasts on Thursday, saying a coronavirus-driven surge in demand for essential goods was fading as American households reconsider what they have on their shelves. FILE PHOTO: Customers browse grocery store shelves inside Kroger Co.’s Ralphs supermarket amid fears of the global growth of coronavirus cases, in... Read More

U.S. labor market recovery stalling; second wave of layoffs underway

U.S. labor market recovery stalling; second wave of layoffs underway
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell last week, but the pace of decline appears to have stalled amid a second wave of layoffs as companies battle weak demand and fractured supply chains, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession. The Labor Department’s weekly jobless claims report... Read More

World stock markets slip on second wave virus fears, safe-havens rise

World stock markets slip on second wave virus fears, safe-havens rise
NEW YORK/LONDON (Reuters) – Global stock markets drifted lower on Thursday as an increase in new coronavirus cases in some U.S. states and China crushed hopes of a swift economic comeback from the pandemic, underpinning demand for safe-haven currencies such as the dollar and Japanese yen. Traders wear masks as they work on the floor of the New York Stock... Read More

Saudi Aramco cuts hundreds of jobs amid oil market downturn, sources say

Saudi Aramco cuts hundreds of jobs amid oil market downturn, sources say
The logo of Aramco is seen as security personnel stand before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed DUBAI (Reuters) – State oil giant Saudi Aramco (2222.SE) started laying off hundreds of employees this month, two sources familiar with the matter said, as global... Read More

Cash flows into U.S. growth funds surge, value funds see outflows

Cash flows into U.S. growth funds surge, value funds see outflows
(Reuters) – U.S. investors have ramped up investments in growth funds over the past few months on expectations of higher returns and safety, while they dumped value funds despite cheaper prices after this year’s pandemic-linked selloff. FILE PHOTO: Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease... Read More

U.S. weekly jobless claims remain high as second wave of layoffs hits industries

U.S. weekly jobless claims remain high as second wave of layoffs hits industries
Hundreds of people line up outside the Kentucky Career Center, over two hours prior to its opening, to find assistance with their unemployment claims, in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston WASHINGTON (Reuters) – A second wave of layoffs amid weak demand and fractured supply chains is keeping new U.S. applications for unemployment benefits elevated, supporting views that... Read More

World stocks drift lower as second wave virus fears mount

World stocks drift lower as second wave virus fears mount
LONDON/TOKYO (Reuters) – Global stocks drifted lower on Thursday as an increase in new coronavirus cases in some U.S. states and China crushed hopes of a swift world economic comeback from the pandemic. FILE PHOTO: A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors... Read More