Business > Watch

Dow falls 200 points as record GDP growth and encouraging jobless claims fail to soothe trader nerves

1 month ago   |   By Business Insider

Summary List Placement
US equities slid on Thursday, even as economic data pointed to a stronger-than-expected pace of recovery.
The US economy grew at a record 33.1% annualized rate in the third quarter, the Commerce Department said Thursday. The reading exceeded the 32% estimate from economists surveyed by Bloomberg.
Weekly jobless claims fell to 751,000 in the week that ended on Saturday, according to the Labor Department. The reading exceeded the median economist estimate of 770,000.
Tech stocks outperformed ahead of earnings reports from Apple , Amazon , Facebook , and Alphabet after...
Read more ...

 

Here's why the record-shattering GDP report obscures the fact that the US economic recovery still has much further to go

Here's why the record-shattering GDP report obscures the fact that the US economic recovery still has much further to go

1 month ago   |   By Business Insider

Summary List Placement
The US economy expanded 7.4% during the third quarter of the year, the Commerce Department reported on Thursday. It's the largest growth rate ever recorded in a three-month period. At an annualized rate, it grew 33.1%.
The government reports gross domestic product figures in an annualized rate, which means it's what would happen if the economy grows or shrinks the same way for a year .
But the big figure veils a critical reality: The nation's economy has not fully recovered from the pandemic - and it still has a long way to go. The latest surge doesn't make up for...
Read more ...

 


Search by Tags

   Watch      Tech      US      Economics      Apple      Economy      People      Home      Matter      Business  


Tesco WILL repay £585 million it saved from Covid business rates relief scheme

Tesco WILL repay £585 million it saved from Covid business rates relief scheme

After declaring pre-tax profits of £551 million and paying shareholders £315 million, Tesco has announced it will return the money it saved from the Covid business rate holiday... Read more ...

Salesforce acquires Slack for $27.7 billion

Salesforce acquires Slack for $27.7 billion

Enlarge / Slack is evaporating into the Salesforce cloud, you could say. Salesforce, a cloud-services company that targets businesses, has announced that it will acquire... Read more ...

CEO Marc Benioff says Salesforce's $27.7 billion acquisition of Slack brings...

CEO Marc Benioff says Salesforce's $27.7 billion acquisition of Slack brings his 'ultimate vision' for workplace collaboration to life

Summary List Placement Salesforce is buying workplace chat app Slack for the huge sum of $27.7 billion and CEO Marc Benioff say that the deal is the culmination of one of his... Read more ...

Joe Biden unveils his economic team saying 'times are tough but help is on...

Joe Biden unveils his economic team saying 'times are tough but help is on the way'

Joe Biden unveiled his economic team on Tuesday, including the first female Treasury secretary and a lightening rod budget expert that has conservatives and liberals up in arms. Read more ...

Tesla gains 5% as S&P 500 committee says its stock will be added to the...

Tesla gains 5% as S&P 500 committee says its stock will be added to the index in one single step

Summary List Placement Tesla gained 5% on Tuesday as the S&P 500 Index Committee decided to add Tesla stock to the index all at once on December 21. Due to Tesla's large market... Read more ...

Airbnb seeks to raise $2.6 billion in its mid-December IPO, giving it a...

Airbnb seeks to raise $2.6 billion in its mid-December IPO, giving it a valuation of up to $35 billion

Summary List Placement Airbnb plans to raise $2.6 billion in its mid-December IPO, giving it a valuation of up to $35 billion. The company plans to list about 50 million shares... Read more ...

We got an exclusive look at the pitch deck ecommerce platform Fabric used to...

We got an exclusive look at the pitch deck ecommerce platform Fabric used to raise $9.5 million in funding. The cofounder and CEO break it down and give their advice for entrepreneurs to perfect their pitch

Summary List Placement When small businesses set up their online presence, they typically go to the ecommerce giants like Amazon and Shopify. But one startup believes the... Read more ...

Global equities kick off December with a rally, as investors cheer economic...

Global equities kick off December with a rally, as investors cheer economic data, vaccine progress

Summary List Placement Global equity markets rose on Tuesday, extending the record-breaking gains of the previous month, after strong factory data pointed to a robust recovery... Read more ...

Benefits fraud warning as £50m at risk of being lost in Scotland

Benefits fraud warning as £50m at risk of being lost in Scotland

Public spending body Audit Scotland raised the alarm as an economic crisis unfolds in the pandemic. Read more ...

S&P's $44 billion deal to buy IHS Markit - Rising stars of real estate - Top...

S&P's $44 billion deal to buy IHS Markit - Rising stars of real estate - Top banking lawyer joins Kirkland & Ellis

Summary List Placement The big news of Monday was S&P Global announcing plans to acquire IHS Markit for $44 billion, the biggest acquisition of 2020. Also of note, DoorDash and... Read more ...