Tue. Jan 19th, 2021

business weekly

PRECIOUS-Gold on track for weekly gain as U.S. stimulus hopes dent dollar 1 min read

PRECIOUS-Gold on track for weekly gain as U.S. stimulus hopes dent dollar

[email protected]_84 2 months ago

(Adds comment, update prices)

* Further downside likely for gold in medium-term – analyst

* Silver set for 1st weekly gain in four

* U.S. non-farm payrolls data at 1330 GMT eyed

* Interactive graphic tracking global spread of coronavirus:
https://tmsnrt.rs/3mvcUoa

By Nakul Iyer

Dec 4 (Reuters) – Gold prices firmed on Friday, set for
their first weekly gain in four, as growing optimism over a U.S.
fiscal stimulus deal pressured the dollar and boosted the
metal’s appeal as an inflation hedge.

Spot gold rose 0.2 % to $1,843.99 per ounce by 0310
GMT. U.S. gold futures were up 0.4% at $1,847.90.

Gold has added over 3% so far this week.

“Upward momentum (in gold) is strong partly because of a
weakening dollar and prices have been technically oversold, so
its also a technical rebound,” said Margaret Yang, a strategist
at DailyFX, adding that the metal could find strong support

… Read More ... Read More
US weekly jobless claims fall more than expected to 712,000, offering an encouraging sign of labor-market recovery 1 min read

US weekly jobless claims fall more than expected to 712,000, offering an encouraging sign of labor-market recovery

[email protected]_84 2 months ago



a person sitting at a table using a laptop: Nick Oxford/The Washington Post/Getty Images

© Nick Oxford/The Washington Post/Getty Images
Nick Oxford/The Washington Post/Getty Images
  • New US jobless claims for the week that ended Saturday totaled 712,000, the Labor Department said Thursday. The reading came in below the consensus economist estimate of 775,000 and also showed a decline from the previous week’s revised figure.
  • Continuing claims, which track Americans receiving unemployment benefits, declined to 5.5 million for the week that ended November 21. The reading also came in below economist forecasts.
  • Visit Business Insider’s homepage for more stories.

The number of Americans filing for unemployment insurance fell by more than expected last week as the US labor market’s recovery showed signs of strength.

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New US weekly jobless claims totaled an unadjusted 712,000 for the week that ended Saturday, the Labor Department announced Thursday. Economists surveyed by Bloomberg expected a reading of 775,000. The decline snapped a two-week streak of increases for initial

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Open For Business 1 min read

Open For Business

[email protected]_84 2 months ago

That ringing of bells you can hear is not yet Santa, but the tinkle of doors opening as businesses, particularly of the “non-essential” kind, open back up for much of England at least after a second national lockdown.

As we head into the Christmas period, there is a tangible sense of relief across many small businesses that they can open up again, and that footfall might to some degree return in time for a bit of a Christmas flurry. This week has seen huge changes to the retail, hospitality and leisure landscape as rules have changed and for many, if certainly not all, there is some hope returning. And just in time for Small Business Saturday on the 5th December.

Although Christmas does do its best to inspire a sense of

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U.S. weekly jobless claims fall; services sector activity slows 1 min read

U.S. weekly jobless claims fall; services sector activity slows

[email protected]_84 2 months ago

WASHINGTON (Reuters) – The number of Americans filing first-time claims for jobless benefits fell last week, but remained extraordinarily high amid widespread business restrictions to slow a rising tide of new COVID-19 infections and lack of additional fiscal stimulus.

FILE PHOTO: People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston/File Photo

The bigger-than-expected decline in weekly unemployment claims reported by the Labor Department on Thursday was likely influenced by the Thanksgiving Day holiday, which economists said could have impacted the model the government uses to strip seasonal fluctuations from the data.

The pandemic and almost depleted coronavirus relief package are hampering the economic recovery, with services industry activity slowing to a six-month low in November, other data showed. Republicans and Democrats in Congress remained unable to reach agreement on another package on Wednesday, with

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U.S. weekly jobless claims fall; labor market momentum ebbing 1 min read

U.S. weekly jobless claims fall; labor market momentum ebbing

[email protected]_84 2 months ago

By Lucia Mutikani



a group of people that are talking to each other: FILE PHOTO: People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort

© Reuters/Bryan Woolston
FILE PHOTO: People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort

WASHINGTON (Reuters) – The number of Americans filing first-time claims for jobless benefits fell last week, but remained extraordinarily high amid widespread business restrictions to slow a rising tide of new COVID-19 infections and lack of additional fiscal stimulus.

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The weekly unemployment claims report from the Labor Department on Thursday included the Thanksgiving holiday, which could have impacted the model the government uses to strip seasonal fluctuations from the data.

“Jobless claims continue to signal a struggling labor market recovery, and as we approach the end of the year, risks are mounting that millions of unemployed workers will lose access to their unemployment benefits,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania.

Initial claims for state unemployment

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Google acquires Actifio to step into the area of data management and business continuity 1 min read

Google acquires Actifio to step into the area of data management and business continuity

[email protected]_84 2 months ago

In the same week that Amazon is holding its big AWS confab, Google is also announcing a move to raise its own enterprise game with Google Cloud. Today the company announced that it is acquiring Actifio, a data management company that helps companies with data continuity to be better prepared in the event of a security breach or other need for disaster recovery. The deal squares Google up as a competitor against the likes of Rubrik, another big player in data continuity.

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The terms of the deal were not disclosed in the announcement; we’re looking and will update as we learn more. Notably, when the company was valued at over $1 billion in a funding round back in 2014, it had said it was preparing for an IPO (which never happened). PitchBook data estimated its value at $1.3 billion in 2018, but earlier this year it appeared to

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Intel Partners With Amazon on AI Deep Learning Technology 1 min read

Intel Partners With Amazon on AI Deep Learning Technology

[email protected]_84 2 months ago

The Intel Neural Compute Stick 2 is designed to build smarter AI algorithms and for prototyping computer vision at the network edge. It enables deep neural network testing, tuning and prototyping, so developers can go from prototyping into production.


Courtesy of Intel Corporation

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Intel

said this week that it had formed a partnership with

Amazon.com’s

cloud computing division to provide the hardware for artificial intelligence training from one of the companies Intel has acquired.

The cards running the hardware are designed by Habana, an Israeli company focused on AI technologies that Intel (ticker: INTC) acquired roughly a year ago for $2 billion. The announcement, made at an Amazon Web Services event, marks a significant moment for Intel, which has yet to field a product capable of competing directly with the graphics processing unit-powered devices for AI learning made by rival

Nvidia

(NVDA).

The Gaudi technology, Intel says,

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R.I. fitness clubs fined for refusing to close during two-week COVID-19 ‘pause’ 1 min read

R.I. fitness clubs fined for refusing to close during two-week COVID-19 ‘pause’

[email protected]_84 2 months ago

Matt D’Amico, who owns the Maxx Fitness Clubzz franchises in Lincoln and Warren, opened as usual on Monday, however, and has remained open since then. He said that closing would be financially devastating.

“We did it in March, and the shutdown lasted 10, 12 weeks. I just can’t survive it again,” D’Amico said. “It’s not about profitability — it’s landlords, equipment rentals, payroll, and staff. And, I don’t think it’s right, when everyone else gets to stay open.”

The Health Department issued $500 fines at both locations and ordered the facilities to close immediately and stay closed until the restrictions are lifted.

But D’Amico has refused to shut down. Both Maxx locations were open and busy on Wednesday.

“You can say we’re fighting for freedom. It’s what it is,” D’Amico said. “I invested millions of dollars.”

Raimondo ordered the two-week pause in an attempt to stem the rising wave of

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Liberty Steel to start due diligence on Thyssenkrupp steel business 1 min read

Liberty Steel to start due diligence on Thyssenkrupp steel business

[email protected]_84 2 months ago

FILE PHOTO: Thyssenkrupp’s logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle/File Photo

LONDON (Reuters) – Liberty Steel, which last month announced a non-binding indicative offer for Thyssenkrupp Steel Europe, will soon start looking into its financial records, it said on Wednesday.

“Liberty Steel will shortly begin a detailed due diligence and thus gain insight into key business data of Thyssenkrupp’s steel business,” Liberty said in a statement.

Last week, sources told Reuters that Thyssenkrupp was likely to give Britain’s Liberty Steel, headed by metals tycoon Sanjeev Gupta, access to the books of its steel unit.

Gupta’s hand has been strengthened due to consolidation talks between Sweden’s SSAB and Tata Steel that could result in a deal and potentially leave Liberty Steel as the sole bidder for Thyssenkrupp Steel Europe.

Thyssenkrupp, which confirmed it had agreed to open its books to Liberty, has

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NFL Week 13 teaser pick rankings: Taking the 49ers to keep rolling and six more teams to consider teasing 1 min read

NFL Week 13 teaser pick rankings: Taking the 49ers to keep rolling and six more teams to consider teasing

[email protected]_84 2 months ago

Our Teaser of the Week stayed in the win column with the Giants pulling out the outright win despite not covering the closing line and the Packers taking care of business, and the cash moves us to 7-4-1 on the year with our top two teaser options each week. And it’s a good thing we have a nice cushion heading into Week 13, because the options aren’t great.

Only two teams offer classic advantage teaser options this week, but I’m hesitant to tease the Raiders down under -3 on a road trip out east for a second straight week, even going against the putrid Jets. We dodged a bullet teasing the road Giants last week, and I’m in no hurry to try it again so soon.

I’ve done the legwork of going through all the lines as of Tuesday night and identifying the best teasing opportunities. Below, I’ve ranked all

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