Late last month, a mysterious new video app called Zynn began appearing at the top of app store charts, beating out household names like Instagram and YouTube. Zynn is a near identical copy of TikTok, and both apps are the product of Chinese tech giants. The biggest difference is that […]
South Korea Jobless Rate Jumps to 10-year High Amid Pandemic
Forex7 hours ago (Jun 09, 2020 07:18PM ET) South Korea Jobless Rate Jumps to 10-year High Amid Pandemic (Bloomberg) — South Korea’s jobless rate jumped to a 10-year high in May as businesses continued to reel from the coronavirus pandemic. The unemployment rate climbed to 4.5% last month, from 3.8% […]
English house sales rebound to near pre-lockdown levels, Zoopla says
Economic Indicators7 hours ago (Jun 09, 2020 07:10PM ET) (C) Reuters. A crane is seen above some high rise building construction works at Lewisham, in London LONDON (Reuters) – House sales in England have rebounded since the government allowed estate agents to reopen last month, and in much of the […]
U.S. layoffs ease in April; hiring slumps to record low
(C) Reuters. The spread of the coronavirus disease (COVID-19), in Fort Smith By Lucia Mutikani WASHINGTON (Reuters) – Layoffs in the United States fell in April, but remained the second highest on record, while hiring hit an all-time low, suggesting the labor market could take years to recover from the […]
Black Investors Call on VCs to Fix Hiring and Funding
When Monique Woodard started Black Founders in 2011, she wanted to help black entrepreneurs like herself find mentorship, community, and funding in a tech industry that was predominantly white. Career advice and networking opportunities became abundant, as Black Founders grew to include conferences, hackathons, and many warm introductions. Money, however, […]
Exclusive: Savings surge forces Goldman to shut Marcus to new UK clients
Economic Indicators13 hours ago (Jun 09, 2020 12:40PM ET) (C) Reuters. FILE PHOTO: A woman looks at Marcus, a new savings and loans app recently launched by Goldman Sachs in New York By Sinead Cruise LONDON (Reuters) – Goldman Sachs (N:GS) is closing its easy access savings business to new […]
Turkey’s April current account $4.5 billion in deficit: Reuters poll
Economic Indicators2 hours ago (Jun 09, 2020 11:00AM ET) ISTANBUL (Reuters) – Turkey’s current account is expected to record a deficit of $4.5 billion in April, a Reuters poll showed on Tuesday, remaining high as measures against the coronavirus hamper exports and tourism revenues. Turkey’s long history of current account […]
U.S. April wholesale inventories revised slightly down
Economic Indicators2 hours ago (Jun 09, 2020 10:45AM ET) WASHINGTON (Reuters) – U.S. wholesale inventories rebounded less than initially estimated in April and will likely be eclipsed by a plunge in stocks at retailers, suggesting inventory investment could again be a drag on economic output in the second quarter. The […]
U.S. Job Openings Slump to Lowest Since 2014, Separations Ease
Forex3 hours ago (Jun 09, 2020 10:27AM ET) (C) Bloomberg. The Pressroom Restaurant and bar stands temporarily closed on the square in Bentonville, Arkansas on May 28. Photographer: Terra Fondriest/Bloomberg (Bloomberg) — U.S. job openings plummeted in April to the lowest since 2014 and separations remained elevated as the pandemic […]
Turkish industrial production plunged 17% in April as pandemic took hold: Reuters poll
Economic Indicators3 hours ago (Jun 09, 2020 10:10AM ET) (C) Reuters. ISTANBUL (Reuters) – Turkey’s industrial production is expected to have contracted 17% annually in April due to a severe economic downturn brought on by measures to stem the spread of the novel coronavirus. Turkey identified its first case of […]