Check in but never leave: Taiwan offers fake flights for travel-starved tourists

TAIPEI (Reuters) – Starved of the travel experience during the coronavirus lockdown? One Taiwanese airport has the solution – a fake itinerary where you check in, go through passport control and security and even board the aircraft. You just never leave. Taipei’s downtown Songshan airport on Thursday began offering travelers the chance to do just […]

Fed's Bullard warns of financial crisis risks as virus cases spike: FT

(Reuters) – St. Louis Federal Reserve Bank president James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis, the Financial Times reported. “Without more granular risk management on the part of the health policy, we could get a wave of substantial bankruptcies and (that) […]

Record U.S. job growth expected in June, but masks labor market weakness

WASHINGTON (Reuters) – The U.S. economy likely created jobs at a record clip in June as more restaurants and bars resumed operations, which would offer further evidence that the COVID-19 recession was probably over, though a surge in cases of the coronavirus threatens the fledgling recovery. The Labor Department’s closely watched monthly employment report on […]

Record U.S. job growth expected in June, but masks labor market weakness

WASHINGTON (Reuters) – The U.S. economy likely created jobs at a record clip in June as more restaurants and bars resumed operations, which would offer further evidence that the COVID-19 recession was probably over, though a surge in cases of the coronavirus threatens the fledgling recovery. The Labor Department’s closely watched monthly employment report on […]

DBS cuts again interest rates on flagship Multiplier savings account

SINGAPORE (THE BUSINESS TIMES) – Singapore’s largest lender DBS will again this year cut rates on its flagship deposit account from Aug 1 amid a low interest rate environment and macro uncertainties. This comes two months after a set of rate revisions for the DBS Multiplier account that took effect on May 1. The DBS […]

Fed deluged by letters from needy over U.S. loan program

(Reuters) – The U.S. Federal Reserve on Wednesday released thousands of letters and emails from individuals, businesses and nonprofit groups this spring urging wider access to its Main Street Lending Program for Americans slammed financially during the pandemic. The central bank announced the Main Street program in late March, offering loans to mostly medium-sized businesses […]

U.S. seeks Warhol, Monet paintings linked to 1MDB scandal

WASHINGTON (Reuters) – The U.S. Department of Justice on Wednesday said it was looking to recover another $96 million in assets in real estate and artwork linked to the 1Malaysia Development Berhad (1MDB) international money-laundering conspiracy. The assets include luxury real estate in Paris and paintings by Claude Monet and Andy Warhol linked to the […]

Fed deluged by letters from needy over U.S. loan program

(Reuters) – The U.S. Federal Reserve on Wednesday released thousands of letters and emails from individuals, businesses and nonprofit groups this spring urging wider access to its Main Street Lending Program for Americans slammed financially during the pandemic. The central bank announced the Main Street program in late March, offering loans to mostly medium-sized businesses […]

S&P, Nasdaq close higher on vaccine hopes, improving data

NEW YORK (Reuters) – The S&P 500 and Nasdaq indexes closed higher on Wednesday to kick off the third quarter as increasing optimism for a safe and effective COVID-19 vaccine eased concerns that another round of business lockdowns was likely. Pfizer Inc’s shares rose more than 3% after the drugmaker said a COVID-19 vaccine being […]

Dollar wobbles as decent U.S. data tempers safe-haven demand

NEW YORK (Reuters) – The dollar retreated on Wednesday in choppy trading, as generally solid U.S. economic data and improving European numbers diminished its appeal as a safe haven, though the currency’s outlook remained upbeat given renewed risks posed by the novel coronavirus. The greenback kicked off the third quarter with a decline against currencies […]