Rural Daily

US Stocks Close Lower After Trump’s Positive COVID-19 Test

4Oct

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Lifestyle

US Stocks Close Lower After Trump’s Positive COVID-19 Test

FILE - A Wall Street sign is seen against the background of a giant American flag hanging on the building of the New York Stock Exchange, in New York City, Sept. 21, 2020. U.S. stocks closed lower Friday on news that U.S. President Donald Trump had tested positive for COVID-19, but the losses were less than what investors had braced for in the early morning. Stocks pared losses from the morning after the White House gave assurances that Trump, who was experiencing mild symptoms, was not incapacitated. The S&P 500 fell 32 points, or 1%, to 3,348. The Dow Jones industrial average dropped 134 points, or 0.5%, while the Nasdaq Composite Index fell 251, or 2.2%. The comeback from earlier losses was also the result of an announcement Friday by U.S. House Speaker Nancy Pelosi that a...

UK’s Johnson Doesn’t Want a No-deal Brexit but Can Live with it

4Oct

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Lifestyle, TRENDING NEWS

UK’s Johnson Doesn’t Want a No-deal Brexit but Can Live with it

British Prime Minister Boris Johnson is seen outside the BBC headquarters, as the spread of the coronavirus disease (COVID-19) continues, in London, Britain, Oct. 4, 2020. LONDON - British Prime Minister Boris Johnson does not particularly wish for the Brexit transition period to end without a new trade deal in place but believes that Britain could live with such an outcome, he said on Sunday. With the Dec. 31 expiry of the transition period fast approaching, Johnson and the head of the EU's executive, Ursula von der Leyen, agreed in a phone call on Saturday to step up negotiations on a post-Brexit deal. "I think it's there to be done," Johnson said during an interview on BBC television. "Alas, there are some difficult issues that need to be fixed, and there's no question that th...

What Will Happen To Gold Under The Fed’s New Monetary Framework?

4Oct

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Lifestyle

What Will Happen To Gold Under The Fed’s New Monetary Framework?

Did you believe that the monetary policy of Ben Bernanke in a response to the Great Recession was extraordinary? Nah, Bernanke was an amateur compared to Jerome Powell. The latter quickly reintroduced ZIRP, implemented unlimited quantitative easing, and provided bailouts to Wall Street – and now he risks higher inflation as a result. In August 2020, Federal Reserve Chair Jerome Powell delivered his Jackson Hole speech, unveiling a new monetary framework in the process. He announced a flexible average inflation targeting strategy (FAIT). The new regime implies that when the inflation undershoots its target in one period, the US central bank will try to push inflation above the target in the next period to compensate for the previous shortfalls. In other words, after periods of persistently...

Global Shares Fall As Caution Sets In After Wall St Retreat

24Sep

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Lifestyle

Global Shares Fall As Caution Sets In After Wall St Retreat

Global shares were lower Thursday as caution set in after a retreat on Wall Street driven by a decline in technology shares. France’s CAC 40 fell nearly 0.7% in early trading to 4,770.81. Germany’s DAX dipped 0.5% to 12,585.12. Britain’s FTSE 100 shed 0.7% to 5,857.35. U.S. shares looked set to drift lower, with Dow futures falling 0.2% to 26,633. S&P 500 futures slipped 0.2% to 3,224.88. Market players are feeling less optimistic about action from the U.S. Federal Reserve and Congress to help the U.S. economy amid the distractions of the presidential election and the battle over the Supreme Court seat left vacant by the death of Justice Ruth Bader Ginsburg. Risks of a broader sell-off of technology shares remain after a long due correction, said Hayaki Narita at Mizuho Bank in Singapo...

Original 9 Trailblazers Stood For Tennis Equality In 1970

24Sep

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Lifestyle

Original 9 Trailblazers Stood For Tennis Equality In 1970

NEW YORK: Billie Jean King and eight other women of the Original 9 are celebrating the 50th anniversary of signing $1 contracts and breaking away from the U.S. tennis establishment to form the Virginia Slims circuit in 1970. It helped launch the WTA Tour, which now offers millions in global prize money. Promoters were offering fewer tournaments and substantially less prize money for the women. They were galvanized when former player and promoter Jack Kramer announced the Pacific Southwest Open in Los Angeles would pay $12,500 to the men’s champion and $1,500 to the women’s champion. So they signed with promoter Gladys Heldman to play a tournament in Houston on Sept. 23, 1970, despite a threat from the U.S. Lawn Tennis Association (now the USTA) to ban them from Grand Slam events and intern...

Unilever’s CEO gives a lesson on what being an advocate quantifiably means at work

24Sep

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Lifestyle

Unilever’s CEO gives a lesson on what being an advocate quantifiably means at work

Alan Jope, CEO, Unilever. Photo: Unilever Alan Jope, CEO of Unilever (ULVR.L), has been crowned the number one advocate executive for women at work in 2020. The 2020 HERoes Advocates list celebrates 50 senior leaders who are advocates for women in business and dedicated to creating a more diverse and inclusive business environment. These executives work within at least three levels of the chief executive at large companies, or are the leaders of smaller organisations. Jope has been CEO since 2019 and has immediately enacted on making sure Unilever is a “beacon for diversity and inclusion, and a leader in progressive work practices.” He chairs a Global Diversity Board (GDB) — providing leadership and direction on setting stretching, transparent, and measurable targets — which has already...

23Sep

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Lifestyle

JPMorgan to move $230 bln assets to Germany ahead of Brexit – Bloomberg News

Sept 23 (Reuters) - JPMorgan Chase & Co is moving about 200 billion euros ($233.76 billion) from the UK to Germany as a result of Britain's exit from the European Union, Bloomberg News reported on Wednesday, citing people familiar with the matter. The lender plans to finish the migration of assets to its Frankfurt-based subsidiary by the end of 2020, the report https://bloom.bg/32Uxesv said. In January, the bank had also announced it will significantly expand its Paris hub as part of plans to relocate some services from London after Brexit. Banks using Britain as a gateway to the European Union must fully execute their plans for serving EU customers before a Brexit transition period ends in December, the EU's banking watchdog said in July. Last year, consultancy EY said assets wo...