SYDNEY, June 15 (Reuters) – Australia’s government will run record budget deficits this year and next as it spends big on stimulus and infrastructure to cushion the economy from the coronavirus, Prime Minister Scott Morrison said on Monday, warning of tough times ahead. Announcing another A$1.5 billion ($1.02 billion) on infrastructure and fast-track approval for...
Category: News
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U.S. Futures Advance: Markets Wrap
In the U.S. Thursday, airlines, cruise and travel shares that had soared in recent weeks bore the brunt of the selling. The KBW Bank Index of financial heavyweights slid 9%, and energy producers joined a rout in oil. While much of the equity selling owed to the frantic pace of the recent rally, sentiment did...
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U.K. Car Sales Drop 90% in May After Lockdowns
Automakers in the U.K. sold just over 20,000 cars in May with dealerships shuttered for a second month. New-car registrations plunged almost 90% from a year earlier, according to preliminary figures from the Society of Motor Manufacturers and Traders. Final sales data will be released later Thursday. Britain’s car industry is sputtering back to life...
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Stocks Rally Eases
The global stock rally powered by investor optimism for a speedy economic recovery from the pandemic showed signs of pausing on Thursday as rallies fizzled in Asia. The dollar recouped some of the losses that pushed it to the weakest since early March. Shares in South Korea and Australia remained higher, equities in Japan pared...