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The number of Americans filing new claims for unemployment benefits jumped to a three-month high last week, likely as a winter wave of COVID-19 infections disrupted business activity, which could constrain job growth this month. The third straight weekly increase in jobless claims reported by the Labor Department on Thursday was also influenced by unfavorable seasonal factors after the holidays. Coronavirus cases, driven by the Omicron variant, are subsiding and the seasonal factors, the model used by the government to iron out seasonal fluctuations from data, are seen normalizing soon, suggesting the recent surge in claims is a blip.
China must prevent and defuse the risk of external shocks this year while strengthening macro-prudential management and guiding market expectations, the country's foreign exchange regulator said on Friday. The comments come as the U.S. Federal Reserve is widely expected to start hiking interest rates as early as March, while its Chinese counterpart has stepped up monetary easing to prop up a slowing economy, raising concerns about possible capital outflows due to the policy divergence. During the previous round of Fed tightening in 2018, China's currency depreciated sharply.
Wall Street's main indexes fell on Friday, with the Nasdaq set for its fourth straight day of declines after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower. Netflix Inc plunged 22.7% after the streaming giant fell short of market forecast for new subscribers at the end of last year and offered a downbeat outlook for early 2022. Analysts on Thursday raised doubts about business prospects of pandemic market favorites including Netflix and Peloton Interactive.
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JAKARTA, Indonesia (AP) — Indonesia’s leader said Thursday that his country, which holds the presidency of the Group of 20 biggest economies this year, wants to strengthen global partnership and inclusiveness to aid the economic recovery amid a resurging COVID-19 pandemic. In an online address to the World Economic Forum, Indonesian President Joko Widodo committed to making the G-20 presidency an important part of the response, with a focus on inclusive health care, the digital transformation an
Solid Q4 production numbers, stellar outlook guidance, and surging silver prices are helping First Majestic Silver stock rally today. The post Why First Majestic Silver Stock Popped 12% Today appeared first on The Motley Fool Canada.
A swift recovery in global economy from the COVID-19 pandemic and a supply tightening by the Organization of the Petroleum Exporting Countries (OPEC) and its allies helped drive a 50% surge in oil prices last year, prompting companies to raise their capital budgets in anticipation of strong demand. The Calgary-based oil and gas lobby expects oil-rich Alberta to lead the country's provinces, forecasting C$24.5 billion in investments in 2022. "Rapid demand growth for oil and natural gas globally and strengthening commodity prices mean there is opportunity for Canada's industry for decades to come," said Tim McMillan, the group's president and chief executive officer.
The workers went on a strike on Jan. 12 after rejecting at least two offers from the grocery chain. The union had rejected a $170 million offer made last week by Kroger, which termed it as the "last, best and final offer". Rising COVID-19 infections and inflation have pushed U.S. workers to demand better working conditions and higher pay, with employees at Deere & Co and Kellogg Co's cereal plants recently securing better deals after weeks of strike.
U.S.-listed shares of Unilever rose 10.1% on the news, while GSK's fell 2.8%. GSK has rejected three bids from Unilever for its consumer arm, which is home to brands such as Sensodyne toothpaste, Emergen-C vitamin supplement and Panadol painkiller, saying the bids "fundamentally undervalued" the business and its prospects. A spokesperson for GSK responded that the group was strongly focused on maximising shareholder value and very confident in the future of the consumer healthcare business in which Pfizer has a 32% stake.
Ontario’s online sports betting and gambling market is expected to generate nearly a billion dollars in gross revenue in its first year.
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Tilting your stock portfolio toward energy and commodities could be a good play during inflationary conditions. The post Need a Hedge Against High Inflation? Buy This Energy Sector ETF appeared first on The Motley Fool Canada.
United Airlines Holdings on Wednesday trimmed its capacity forecast and warned of higher costs, after posting a smaller-than-expected fourth-quarter loss, citing turbulence from the Omicron coronavirus variant. United said its priority is to match capacity with demand. United's shares declined about 2.5% to $43.31 in extended trading.
Wall Street's main indexes ended sharply lower on Thursday and a rally in U.S. stocks evaporated late in the session as investors considered whether equities were bargains after a sell-off to start the year that has seen the Nasdaq fall into correction territory. The Nasdaq on Wednesday closed more that 10% below its November all-time high, confirming it was in a correction. “There seems to be a whole lack of conviction," said Randy Frederick, vice president of trading and derivatives for Charles Schwab.
Twitter Inc on Thursday announced the launch of a tool through which users can showcase non-fungible tokens (NFTs)as their profile pictures, tapping into a digital collectibles craze that has exploded over the past year. The feature, available on iOS to users of the company's Twitter Blue subscription service, connects their Twitter accounts to crypto wallets where the users store NFT holdings. Twitter displays the NFT profile pictures as hexagons, differentiating them from the standard circles available to other users.
Recent volatility should spur investors to snatch up undervalued and very promising Canadian stocks like goeasy Ltd. (TSX:GSY). The post 3 Super-Cheap Canadian Stocks to Buy Today appeared first on The Motley Fool Canada.
Global jet fuel demand, however, has again come under pressure with some countries reimposing border restrictions and other curbs to keep the Omicron coronavirus variant at bay, prompting travelers to reconsider their plans. "We saw a little bit more downside momentum on jet fuel due to omicron variant, but combined, we didn't really see a meaningful impact as we exited the year," senior executive Dax Sanders said in the earnings call. Kinder Morgan reported a 48% jump in jet fuel volumes and 7% jump in gasoline, following a year of coronavirus-driven decline.
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The U.S. Securities and Exchange Commission (SEC) will vote next week to propose boosting hedge fund disclosures in a bid to enhance industry oversight and investor protections, the agency's chair said on Wednesday. Gary Gensler told reporters that the SEC will vote to propose rule changes to the Form Private Fund (PF) which many hedge funds and other private funds file quarterly detailing their purchases and sales of securities.