A Degree Doesn’t Buy Privilege for Black Graduates

Amie Jean had once hoped her college identity would keep her safe from police violence. “I used to think that if I get pulled over, the officer will see the Longhorns sticker on the back of my car,” said Jean, who graduated in May from the University of Texas in Austin. “Now I know that it doesn’t make a difference.” College […]

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Nasdaq hits record high as U.S. economy shows signs of rebound

(Reuters) – The Nasdaq Composite .IXIC on Friday became the first of the three major U.S. stock indexes to bounce back to a record high, recovering from a stunning coronavirus-led slump on growing hopes of a swift economic rebound. Wall Street has surged following a crash into bear territory in March as investors bet on a revival in business activity with […]

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WeWork co-founder McKelvey to leave company by June end

(Reuters) – WeWork co-founder Miguel McKelvey will leave the company at the end of June, a spokesman for the troubled office-sharing start-up said on Friday. McKelvey’s exit comes as WeWork, majority owned by SoftBank Group Corp (9984.T), was hit hard by the COVID-19 pandemic which affected its core business and weighed heavily on its occupancy rates. “After 10 years, I’ve […]

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Nasdaq closes in on record high after surprise jobs report

(Reuters) – A stunning U.S. jobs report on Friday put the Nasdaq within striking distance of its record high as investors flocked back to riskier assets on hopes of a swift economic rebound from the coronavirus-driven slump. The blue-chip Dow Jones index added 1,000 points, briefly hitting a level not seen since early March, while the S&P 500 is less […]

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Scaramucci: Stimulus 'tsunami of money' is buoying stocks

New York (CNN Business)Anthony Scaramucci fears the tsunami of easy money from the Federal Reserve that’s catapulting the stock market ever higher will amplify America’s inequality problem. “There is so much racial tension and anxiety. The haves have so much. The have-nots don’t. And they’re pissed,” Scaramucci, former White House communications director to President Donald Trump, told CNN Business. Despite […]

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Jaguar Land Rover borrows £560m from Chinese banks to secure cashflow

Jaguar Land Rover has borrowed 5bn yuan (£560m) from five Chinese banks as it seeks to ease the financial strains prompted by the coronavirus pandemic. The UK’s largest carmaker has borrowed the money under a three-year revolving credit facility from lenders including Bank of China, ICBC, China Construction Bank, Bank of Communications and Shanghai Pudong Development Bank. The loan will […]

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Futures gain as recovery optimism lingers ahead of May jobs data

(Reuters) – U.S. stock index futures rose on Friday with S&P 500 futures hitting a three-month high, as investors focused on tentative signs of a post-coronavirus economic rebound ahead of another expected plunge in U.S. employment data. Friday’s report from the Labor Department is likely to show the U.S. unemployment rate shooting up to almost 20% in May, a new […]

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Global stocks and euro surge ahead of U.S. jobs data

LONDON/SYDNEY (Reuters) – World stocks held their ground near three-month highs as the euro hit its highest level since March 10, thanks to Europe’s stimulus boost, fuelling hopes for a global rebound. Investors are pricing in an economic recovery despite data showing the severe damage wrought by coronavirus lockdowns. Later in the day, U.S. nonfarm payrolls figures are expected to […]

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U.S. Airlines Object to China’s Once-a-Week Flight Limit

U.S. carriers objected to China’s plan to ease its ban on foreign airlines starting June 8 — a course-change that came a day after the Trump administration issued its own limit on Chinese flights. “While the Chinese response to the Department of Transportation is a step toward parity for U.S. carriers, more is needed to achieve the goals of the […]

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