Month: June 2020

Wall Street ends higher on recovery hopes, Nasdaq hits another record

By Sinéad Carew

(Reuters) – Wall Street’s three major indexes closed higher on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high.

While all the indexes pared gains late in the session to close below their peaks for the day, the Nasdaq managed to register its fifth record high close this month. Apple Inc provided the biggest boost followed by Amazon.com and Microsoft.

Data showed that the pace of contraction in the U.S. manufacturing and services sectors slowed in June as businesses reopened after lockdowns that started in mid-March.

Also, new home sales jumped 16.6% in May, blowing past estimates of a 2.9% rise.

“The cumulative effect of the economic data we’ve been seeing is helping to support the V-shaped rally we’ve had in stocks,” said Mark Luschini, chief

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American booking full flights next week; Big Lots still busy

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the spread of the virus.

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RETAIL ROUNDUP:

— Big Lots is seeing the continuation of strong demand that started in mid-April, with second quarter-to-date comparable sales through fiscal June increasing well ahead of expectations.

The discount retailer now anticipates second-quarter comparable sales will be up by a mid-to-high twenties percentage. Big Lots said Friday that it is in a very strong liquidity position, with current cash and short-term investments of approximately $890 million, and no amounts drawn on its $700 million revolving credit facility.

— Shopping mall owner Intu Properties is scrambling to avoid bankruptcy after failing to strike a deal with its creditors. The London-based company is being hammered by lower rent payments from retail clients during

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Why the ‘romance’ of plantation estates is more dangerous than confederate statues

<span>Photograph: John Moore/Getty Images</span>
Photograph: John Moore/Getty Images

Like all symbols, monuments to the Confederate south, the lost cause, are not confined to the public square. On the contrary, they are projected onto the silver screen, in our backyards, making up the names of countless suburban developments, shopping centers and schools. In Charleston, South Carolina, in particular, they undergird a billion-dollar tourist industry.

Voted the No 1 city in the US seven times in a row by Travel + Leisure and the best city in the world in 2017, millions come for the beaches, the beauty and charm of Rainbow Row and its old-timey cobblestone streets (built by slaves), and last but certainly not least, for the romance and sweep of its great houses and plantations. The image of Scarlett O’Hara sauntering around Tara in a hoop skirt is imprinted on our collective imagination. Black or white, who hasn’t fantasized about being her? We

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Australia Likely To Keep Borders Closed Until 2021 Due to COVID-19

The country is unlikely to open its borders to international travelers until at least 2021

Don’t expect to fly into Australia anytime soon. According to Trade Minister Simon Birmingham, the country is unlikely to open its borders to international travelers until at least 2021 due to the pandemic. Birmingham also told the National Press Club it is “more likely” Australians will be banned from overseas travel until 2021 as well — unless under special exemptions for limited business travel, the New Zealand Herald reports.

“I hope that we can look eventually at some of those countries who have similar successes in suppressing the spread of COVID to Australia and New Zealand, and in working … with those countries to find safe pathways to deal with essential business travel that helps to contribute to jobs across our economies,” Birmingham said, adding that “in terms of open tourist-related travel in or

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