European schoolchildren’s return to the classroom has boosted their parents’ office attendance, but leisure activity has begun to fall as fresh coronavirus-related restrictions hold back the economic recovery in the continent’s services sector, data suggest. Alternative economic data such as travel volumes, visits to entertainment venues and restaurant bookings indicate that the resurgence in infections is
Investing
Investors will be watching America’s unemployment numbers on Friday to gauge the strength of the recovery in the world’s biggest economy. US employers added 1.4m jobs last month, according to data from the Bureau of Labor Statistics, falling short of the 1.8m that were added in July. Growth has been slowing over the summer: July
The economy is made up of many different segments called sectors. These sectors are comprised of different businesses that provide goods and services to consumers. The companies that are grouped together in a sector provide a similar product or service. For instance, companies that offer agricultural services make up the agricultural sector. Corporations that provide
Deutsche Bank’s head of German retail banking Manfred Knof will become the new chief executive of domestic rival Commerzbank, the Frankfurt based lender announced on Saturday. The 55-year old former Allianz manager will join Commerzbank in January, ending an extended period of leadership limbo triggered by the joint resignation of chairman Stefan Schmittmann and CEO Martin
For anti-abortion campaigners, the ascension of Amy Coney Barrett to the US Supreme Court would be the victory of a lifetime. Ms Barrett, a faithful Catholic and deeply conservative lawyer, is set to be Donald Trump’s third appointee to the court — tilting it firmly to the right for a generation or more. A longtime
Repo vs. Reverse Repo: An Overview The repurchase agreement (repo or RP) and the reverse repo agreement (RRP) are two key tools used by many large financial institutions, banks, and some businesses. These short-term agreements provide temporary lending opportunities that help to fund ongoing operations. The Federal Reserve also uses the repo and reverse repo
Kim Sohee | Getty Images (CNBC Pro subscribers can access the 13D Active-Passive Investor Summit featuring the most influential activist investors by registering here with promo code ”13DCNBC20′ for a 20% discount.) Company: Apartment Investment and Management Co. (AIV) Business: Apartment Investment and Management Co. is a REIT that focuses on the ownership, management, redevelopment, and development
The US government has sanctioned China’s biggest chipmaker, dealing further damage to the country’s semiconductor industry after cutting Huawei off from its chip suppliers. On Friday, the US Department of Commerce told companies that exports to Semiconductor Manufacturing International Corporation (SMIC) posed an “unacceptable risk” of being diverted to “military end use”, according to a copy
At style-laden Cotswolds boutique Cutter Brooks – amid the full-length dresses, John Derian découpage plates and chequered table linens – you’ll find a small selection of pristine American quilts. From a c1870 diamond design from Pennsylvania to a rare 1930s floral appliqué example, the intricate patterns are often passed down through generations and inventively pieced together from
The Koch brothers, Charles and David, became well-known for their libertarian and conservative politics, often portrayed as significant personalities that impact elections and government decisions. However, despite fame as political influencers, their primary activities centered around running Koch Industries Inc., of which they owned over 80%. Koch Industries is a private company that has annual
Fewer than 10 per cent of Americans have antibodies that could protect them from developing Covid-19, according to the first nationally representative survey that shows the vast majority still have not developed an immune response to the virus. The serological survey of dialysis patients, published in the medical journal The Lancet on Friday, also found
In this week’s edition of Scoreboard, we explain how a decision by UK Prime Minister Boris Johnson to keep stadiums closed has plunged British sport into a financial crisis, assess the performance of Formula One chief Chase Carey set to leave the global motor racing series, explain the importance of legal cases into athlete abuse
Investors don’t agree on much, but they do agree that making money in the market comes with a steadfast strategy that is built around a set of rules. Think for a moment about your early days as an investor. If you’re like many, you jumped in with very little knowledge of the markets. When you
Donald Trump is expected to nominate Amy Coney Barrett to the US Supreme Court, according to media reports, in a move that would decisively shift the country’s highest bench in a conservative direction if she is confirmed. Ms Barrett, a 48-year-old federal appeals court judge, is favoured by religious conservatives and anti-abortion campaigners for the
Anthony Hopkins, Yayoi Kusama, Pamela Anderson, Marina Abramović and Lady Gaga. The stars of this week’s How To Spend It are some of the most single-minded artists in the world. In a year in which singular expression has been muted, it’s exhilarating to find people who inhabit such an uncompromising point of view. How To Spend It
Credit ratings provide a useful measure for comparing fixed-income securities, such as bonds, bills, and notes. Most companies receive ratings according to their financial strengths, prospects, and past history. Companies that have manageable levels of debt, good earnings potential, and good debt-paying records will have good credit ratings. Investment grade refers to the quality of
Spain’s response to the worst resurgence of coronavirus in Europe was plunged into chaos on Friday as Madrid regional authorities defied a national government call to put the whole capital city under new restrictions. The dispute highlights the governance crisis that has accompanied the pandemic in Spain and the lack of political consensus over how
Apple will temporarily drop its contentious App Store fees for businesses that have been forced by the pandemic to pivot to online-only events, in an unexpected concession after increasingly vocal complaints over the rules of its store. The exemption, which lasts until the end of the year, will affect sales made through the iPhone apps
Real vs. Nominal Interest Rates: An Overview A real interest rate is an interest rate that has been adjusted to remove the effects of inflation to reflect the real cost of funds to the borrower and the real yield to the lender or to an investor. A nominal interest rate refers to the interest rate before taking inflation into account. Nominal can also refer to
The UK’s public finances have continued on a path towards a record peacetime deficit in 2020-21, with the central government borrowing £221.2bn in the first five months of the financial year to combat the coronavirus pandemic. Although that figure was lower than the Office for Budget Responsibility, the fiscal watchdog, had expected, the official statistics
Trading in onshore bonds of China Evergrande, the world’s most indebted developer, was halted after reports it was seeking government help to stave off a cash crunch caused the price of its shares and debt to tumble. Shanghai’s stock exchange suspended trading in Evergrande bonds for half an hour on Friday morning, citing “abnormal fluctuations”,
Healthcare, one of the largest and most complex sectors, is comprised of a broad range of companies that sell medical products and services. The healthcare sector includes companies that sell drugs, medical devices, and insurance, as well as hospitals and healthcare providers. Some of the largest healthcare companies in the world include UnitedHealth Group Inc. (UNH), Pfizer
Democrats in the House of Representatives are assembling a new economic stimulus package with a pricetag of $2.4tn, lower than the cost of their existing plan but potentially still too high to broker a compromise with Republicans. According to one Democratic aide in the House, Speaker Nancy Pelosi asked committee chairs in the lower chamber
Costco has incurred $280m of additional costs within three months because of the coronavirus pandemic, keeping a lid on the warehouse retailer’s profit growth despite another surge in sales. California reported more than 3,000 new coronavirus cases for the seventh time in eight days on Thursday, as well as back-to-back days of more than 100
Business Administration vs. Finance Degree: An Overview A degree in business administration or finance can lead to opportunities in both large and small organizations in the public and private sectors. Both degrees also provide a solid foundation and are good preparation for entrepreneurs who want to start their own businesses. There is often considerable overlap
Tim Cook, chief executive officer of Apple, speaks at the 2019 Dreamforce conference in San Francisco on November 19, 2019. David Paul Morris | Bloomberg | Getty Images With all due respect to the late, and great, Tom Petty, when it comes to today’s stock market averages, it’s “the weighting that is the hardest part.”
Siemens is good at engineering. That is apparent in its mechanism to unlock shareholder value, as well as the machinery produced by the German industrial giant. The main lever is a spin-off of a majority stake in Siemens Energy. Shares in the power generation and transmission division will begin trading on Monday with a target
More than 100 people were arrested in Louisville, Kentucky, as protests broke out at the news that only one of the three officers involved in the killing of Breonna Taylor would face criminal charges. The Kentucky attorney-general on Wednesday announced charges against former Louisville police department officer Brett Hankison for wanton endangerment but not for
Citibank was founded in 1812, has a presence in 99 countries, and offers consumer products, including personal loans. There are no origination fees, and applicants may be able to borrow up to $30,000 if applying online, and up to $50,000 if applying in person. This Citibank personal loans review will provide relevant details so
The horror show that is Cineworld continues. Interim results out this morning illustrate the impact of cinema closures on the multiplex owner. Group revenue more than halved to $712m for the six months to the end of June, down from $2.2bn for the same period last year. Underlying profits were even worse — down to