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Europe Readying Vaccine Rollout; U.K. Spread Slows: Virus Update

Nations across Europe are pushing ahead with fast-track Covid-19 jab programs, even as significant proportions of the public from France to Sweden remain opposed to the idea. The U.K. is hoping to inoculate millions of Britons before year-end, while Spain aims at vaccinating up to 20 million people by June. Sweden expects to get enough doses next quarter to immunize a fifth of the population.

American Airlines Echoes Delta in Warning of Demand Slowdown

American Airlines Group Inc. is seeing a slowdown in demand because of surging coronavirus cases, signaling a weaker outlook heading into the year-end holidays.

Consumer confidence remains grim in Nov, optimism intact for year ahead: RBI

Weak confidence was attributed to the consumer sentiments on general economic situation, employment scenario, price levels and household incomes

Bitcoin will go 'substantially higher' over the next 20 years as adoption of digital currencies increases globally, says billionaire Paul Tudor Jones

Paul Tudor Jones told Yahoo Finance: "I'm going to assume that the path forward from here is north," for bitcoin.

Economy adds 245,000 jobs in November as unemployment dips to 6.7% while COVID-19 rages across country

The economy 245,000 added jobs in November as unemployment fell to 6.7% amid a pandemic that hit new case records across the country

U.S. dollar hovers around two-and-a-half year low; Analysts see further weakness in 2021

The U.S. dollar is currently hovering around lows last seen in April 2018 as investors continue to pour back into riskier assets.

U.S. Jobs Recovery Slows as Virus Rages, Boosting Aid Chances

The U.S. labor-market rebound slowed markedly in November, indicating the surge in Covid-19 cases is hitting workers and curbing the broader economic recovery.

Citi CEO Says Long-Term Productivity May Suffer With Remote Work

Citigroup Inc.’s Michael Corbat said he’s worried about potential long-term negative effects after many of his employees spent the vast majority of 2020 working from home.

Stocks Gain as Jobs Miss Boosts Stimulus Bets: Markets Wrap

U.S. stocks climbed to all-time highs and Treasury yields jumped after a report showing U.S. employment gains slowed in November bolstered expectations for more federal stimulus.

US stocks climb as disappointing jobs report lifts stimulus hopes

The jobs report may have been weak, but that just means there will be more pressure on Congress to nail down further stimulus that investors want.

Your movie theater experience is going extinct

WarnerMedia announced Thursday that its 2021 movie releases will debut simultaneously in theaters and on HBO Max.

The UK economy will expand 7% in 2021 on COVID-19 vaccine rollout and Brexit trade deal, Goldman Sachs says

Over half of the country's population is expected to be immunized by March, pointing to a significant rebound in economic activity from Q2.

Copper Surges as Macro Investors Bring Metals in From the Cold

Copper rallied to a fresh seven-year high on bets that further economic stimulus and a global post-pandemic recovery will fuel demand for the metal into next year.

DoorDash boosts its IPO target, now seeks to raise $3.1 billion

DoorDash's IPO is scheduled for December 8 and its trading debut on the NYSE follows the next day under the ticker symbol "DASH."

RBI's FY21 GDP estimates more optimistic than others

The RBI's revised projection stems from the recent boost in the economic revival -- both in rural as well as urban areas -- in many sectors

Looking for an edge, esports team Fnatic hires sports scientists to try to boost gamers’ performance

Fnatic has set up a "High Performance Unit" to assess how things like lack of sleep impact its gamers, who compete in esports competitions with big prize money.

As COVID-19 persists, more Americans are unemployed beyond 6 months. Does that carry a stigma even in a pandemic?

Is long-term unemployment of more than six months a stigma even in a pandemic that destroyed tens of millions of jobs?

Reuben Brothers to Buy New York City’s Surrey Hotel

Billionaire British brothers David and Simon Reuben are buying New York City’s upscale Surrey Hotel in their latest push into U.S. real estate, according to a person familiar with the matter.

Pfizer, BioNTech Shares Ripe for a Bumpy Ride Ahead of Panel

It’s been a wild ride for Pfizer Inc. shares as the S&P 500 heavyweight got caught up in the vaccine-stock euphoria. A key panel next week could mean even more volatility.

Big Law career guide: The latest news on pay, hiring, and hot practice areas

The latest news on Big Law hiring, compensation, layoffs, law school recruiting, diploma privilege, people moves, hot practice areas.

LANDBANK nears target for loans to agriculture sector

LAND BANK of the Philippines (LANDBANK) disbursed credit worth P230.23 billion to the agriculture sector as of October, already 94% of its P245-billion target for the year. The state lender has also given assistance to 2.5 million farmers and fishers so far, beyond its 2-million goal this 2020, the Department of Finance (DoF) said in […]

Theaters Vexed by Warner Bros.’ Straight-to-Streaming Move

Theater chains such as AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. are firing back at Warner Bros. after the studio overhauled its film-release strategy and sent their shares plummeting.

House of Investments acquires property firm

House of Investments, Inc. (HI) has acquired San Lorenzo Ruiz Investment Holdings and Services, Inc. (SLRIHSI) for P1.95 billion. In a disclosure to the stock exchange, the listed holding company of the Yuchengco Group said it has acquired 11 million shares or 100% of the outstanding common stock of SLRIHSI. The property company owns a […]

Oil Pares Gains With U.S. Jobs Miss Stoking Demand Concerns

Oil faded from session highs after U.S. labor-market data showed the recovery markedly slowing last month in a warning sign for crude demand.

The stock market’s roller-coaster year exemplifies why staying invested pays off

The S&P 500's nearly 64% surge from March lows to recent record highs shows why long-term investors should stay in the market

Ryanair Chief Puts Rivals on Notice With Big Boeing Order

Ryanair Holdings Plc has a plan to thunder back from the air-travel slump, grabbing airport space while its weakened rivals are still in retreat.

RBI continues to wait and watch; limited scope for policy freedom: SBI Ecowrap

The RBI continues to be in wait and watch mode as there is very limited scope on what monetary policy can achieve given GDP in contraction mode and inflation risk on upside, says economists at State Bank of India

Group including Manila Water wins Saudi water project

A consortium, which includes Manila Water Company, has been awarded the contract to operate water and wastewater facilities in two provinces in Saudi Arabia. In a disclosure to the Philippine Stock Exchange on Friday, Manila Water said the consortium has signed a seven-year management, operation and maintenance contract for Saudi Arabia’s North West cluster with […]

McDonald’s Warns U.S. Franchisees of Higher Bills Next Year

McDonald’s Corp. is rolling out a series of financial changes that will result in heftier bills for its U.S. franchisees beginning next year, a move that is stoking tensions with restaurant owners.

The 5 books that helped me get on track to achieve financial independence in my 40s

Just Start Investing's Kevin Panitch shares the books that helped shape his approach to saving and investing

Consumer discretionary and IT stocks are ‘egregiously expensive,’ strategist says

Investors should avoid "scarily priced" sectors of stocks, such as IT and consumer discretionary, according to MBMG Group Managing Director Paul Gambles.

PSALM sells properties in Bohol, Cagayan

Power Sector Assets and Liabilities Management Corporation (PSALM) on Friday said it sold real estate assets in Bohol and Cagayan provinces to two power entities through a public bidding. In a statement, PSALM said Sta. Clara Power Corporation (SCPC) was the winning bidder for the Loboc property after making an offer of P12.2 million. The […]

Sy clan included in Asia’s top 20 wealthiest families –Bloomberg

The Sys, the richest family in the Philippines and owners of the SM Group, made it in the list of top 20 richest clans in Asia, according to business publication Bloomberg’s Billionaires Index. The Sy family, ranked 10th place, was worth about $19.7 billion. They are the only family from the country to be included in the Bloomberg list. “[Late] Henry Sy was born in China and immigrated to the Philippines when he was 12. He helped his father sell...

Billionaire Glasenberg’s Reign Spanned IPO Glory to Graft Probes

Ivan Glasenberg, a former coal trader who became the billionaire boss of Glencore Plc, will step down as the commodities behemoth navigates through corruption probes, scrutiny of its environmental bona fides and a share price that’s lost half its value during the past decade.

Bath & Body Works' annual Candle Day sale returns Friday with $9.95 candles; lasts longer amid COVID-19

Bath & Body Works' anticipated Candle Day sale with $9.95 three-wick candles is back with some changes amid the coronavirus pandemic.

Schumer ups pressure for Covid stimulus deal, warns of double dip recession as job growth slows

Senate Minority Leader Chuck Schumer said coronavirus stimulus is "more important than ever" after a disappointing November jobs report.

Pound Soars to 2018 High on Brexit Optimism, Dollar Weakness

The pound rallied on mounting speculation that Britain and the European Union are closing in on a Brexit trade agreement.

Fed’s Evans Says Jobs Data Disappoint, Outlook for Action Rises

The November jobs report published Friday by the U.S. Labor Department was “a little disappointing,” Federal Reserve Bank of Chicago President Charles Evans said.

Here are 9 fascinating facts to know about BlackRock, the world's largest asset manager popping up in the Biden administration

The asset manager has become a force in DC, and two executives with BlackRock on their resumes are set to hold prominent roles in Biden's cabinet.

Peso up on holiday rise in OFW remittances

The Philippine peso ended the week stronger against the US dollar on Friday amid the increase of holiday-related remittances from Filipinos abroad. The local currency appreciated slightly against the greenback by P0.005 to close at P48.04:$1 from 48.045 on Thursday. This is the strongest for the peso in more than four years when it closed at P47.99:$1 on September 23, 2016. “The peso exchange rate again slightly stronger vs. the US dollar......

German Prosecutors Open Probe Into Ernst & Young Over Wirecard

German prosecutors opened a probe into Ernst & Young’s audit of Wirecard AG after 1.9 billion euros ($2.3 billion) went missing at the payment company.

Cheesecake Factory Settles SEC Charges It Didn’t Report Distress

The U.S. Securities and Exchange Commission said it has settled charges against Cheesecake Factory Inc. over “materially false and misleading” statements after the restaurant chain failed to disclose the financial impact of the coronavirus pandemic earlier this year.

ECB Urged to Extend Bank Dividend Ban Six Months by Watchdog

Europe should extend its de-facto ban on bank dividends by six months, a top official at the European Central Bank’s supervisory arm said, casting a shadow over investors’ hopes for a return to payouts early next year.

Canada’s Job Market Shows Surprising Strength Amid New Lockdowns

Canada’s job market remained surprisingly resilient in November despite a new surge in Covid-19 cases.

Weak Jobs Data Sink Treasuries as Traders Bet on U.S. Stimulus

Treasuries declined, pushing 10-year notes up closer to a 1% yield, as traders bet that a weaker-than-expected November jobs report will light a fire under Washington policy makers to get an economic stimulus deal done soon.

Zoom CEO Eric Yuan says he's enjoyed working longer hours during the pandemic - and that his net worth jumping to $20 billion hasn't changed his life all that much

"I do enjoy more, work more long hours," Zoom CEO Eric Yuan said Thursday. "We are helping people stay connected during the pandemic crisis."

Facebook to remove false claims, conspiracy theories about COVID-19 vaccines

Facebook said, "Given the recent news that COVID-19 vaccines will soon be rolling out around the world, over the coming weeks we will start removing false claims about these vaccines that have been debunked by public health experts on Facebook and Instagram"

Italpinas signs P250-M DBP loan

Real estate developer Italpinas Development Corporation (IDC) said on Friday it signed a deal to get a P250 million new term loan with the Development Bank of the Philippines (DBP) to boost its operating capital. The listed company in a disclosure on Friday said this would “sustain positive momentum” as its receivables increase and an […]

The EU could go ahead with its Covid stimulus, despite Hungary and Poland’s veto

The European Union could implement its massive coronavirus stimulus plan without Hungary and Poland, which are vetoing its budget, top EU officials have said.

Bank Bonuses Rise 3.9% in Canada as ‘Crazy’ Payouts Stopped

Canada’s biggest banks set aside 3.9% more for bonuses, a relatively small increase in a year when record revenue from trading and dealmaking helped firms weather the Covid-19 pandemic.