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  • The No. 1 thing Americans are spending their stimulus checks on -- even more than shopping at Costco, Walmart and Target

    'Americans are aware of how grim the near future could be'. Nearly one-third of people said they used their stimulus checks to pay bills, according to a survey released this week, another sign that Americans are struggling to make ends meet, particularly with more than 38 million people filing for unemployment since mid-March. Those bills-- including for cellphones, utilities, cable TV and rent-- are the No. 1 priority, even more than purchasing essentials and "relief spending" on apparel,...

  • Peet's Coffee Raises $2.5 Billion From IPO, Defying Pandemic -- Update

    The European owner of Peet's Coffee saw its shares jump almost 14% in their trading debut Friday, marking one of the world's biggest initial public offerings so far this year in a deal that valued the coffee business at EUR15.6 billion. Backed by investment firm JAB Holding Co., JDE Peet's BV's shares closed at EUR35.84 Friday following its listing on the Euronext Amsterdam stock exchange. The IPO was priced at EUR31.50 a share, toward the high end of the target range.

  • KBRA Assigns Ratings to First Republic Mortgage Trust 2020-1 (FRMT 2020-1)

    Kroll Bond Rating Agency assigns ratings to 15 classes of mortgage certificates from First Republic Mortgage Trust 2020-1, First Republic Bank’s first prime RMBS transaction since credit crisis. The pool consists entirely of hybrid ARMs, with loans possessing initial fixed-rate periods of ten years.

  • Get ready for stock-market 'consolidation' as China tensions rise, says Wall Street bull

    Consolidation would present' entry-point opportunity': Canaccord's Dwyer. After a sharp run-up for U.S. stocks, rising tensions between Washington and Beijing could spark a round of near-term consolidation that could prove to be an entry point for investors, a prominent Wall Street bull said Friday. "Escalating tension with China as the global economy attempts to find its footing, coupled with such strong recent gains, opens the door for potential consolidation," wrote Tony Dwyer,...

  • The stock market has been rising. Is that why Trump is attacking China?

    Investors may not like being played, but they may like it less if the players lose control, one analyst says. With the worst of the pandemic market wreckage likely in the rearview mirror and some signs that the economy may have touched bottom, skittish investors were just starting to breathe easier. Then came a flare-up of a familiar old tension.

  • Fed's Powell says he's sleeping better than at start of the COVID-19 outbreak

    Second wave of coronavirus remains a concern, Fed chairman says. Federal Reserve Chairman Jerome Powell on Friday indicated he was a little less tense about the economy and the coronavirus crisis than he was during the early days of the pandemic, but said he is still concerned about a potential "second wave" of the outbreak. Better than I was in late February and early March, let's just put it that way, "' Powell said when asked how he was sleeping by a former Fed vice chairman, Alan Blinder, in...

  • Spending Plunge Will Keep Weighing on U.S. Growth

    With more businesses starting to reopen, consumer spending looks as if it is starting to dig its way out of the hole caused by the coronavirus crisis. But the hole is very deep. The Commerce Department on Friday reported that consumer spending fell a record 13.6% in April from a month earlier following a 6.9% drop in March.

  • UK PM Johnson and U.S. President Trump criticise China's Hong Kong plan

    • BY Reuters|
    • 12:53 PM ET 05/29/2020

    British Prime Minister Boris Johnson and U.S. President Donald Trump said on Friday that China's plan to impose national security legislation on Hong Kong would undermine Hong Kong’s autonomy.

  • Businesses will need to contribute to wage bills as U.K government scales back financial support

    Furloughed workers will continue to have the majority of their wages covered by the state, but bosses will have to start contributing from August. Bosses will have to start contributing to the wages of their employees as the U.K. government starts scaling back its employment support program, finance minister Rishi Sunak announced on Friday. From August, employers will have to contribute to National Insurance, the U.K.' s social security network, and pension pots.

  • Palladium shows signs of life after the pandemic halted its record rally, but a bargain it is not

    Palladium futures down nearly 30% from record highs. Palladium trades nearly 30% below the record prices in February, and there are signs of improving demand for the metal, which has managed to hold a gain for the year despite economic pain brought on by the coronavirus pandemic. Palladium, however, is still far from a bargain.

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