US Unemployment claims
The US jobless claims hit 1.5 million bringing the total for the 13 weeks to 46 million the Labor Department said on Thursday. In addition, for the week ended June 6, continuing claims which represent the aggregate total people receiving unemployment benefits reached 20.5 million.
Canada employment
Elsewhere in Canada, jobs increased by 208,400 from April to May latest data from the Canada National Employment Report revealed on Thursday. Some of the biggest gainers include manufacturing 55, 300, construction 80, 700, natural resource and mining 12,100, and transportation and utilities 32,400 jobs.
Japan eases lockdown measures
Japan Prime Minister Shinzo Abe says that the nation will lift its restrictions on travel citing containment of the coronavirus. In this case, Abe will end the nationwide state of emergency announced in May thus reopening of travel across prefectures. Further, Abe said there are advance talks to ease Japan’s entry ban on Australia, New Zealand, Thailand and Vietnam, as it seeks to gradually step back from travel restrictions.
However, Abe maintained that people must avoid travel to and from Tokyo and Chiba, Kanagawa and Saitama prefectures in the Tokyo metropolitan area, as well as Hokkaido in northern Japan if it is not urgent. The easing of travel curbs opens the way for a recovery in tourism.
Bank of England Keeps Rates Unchanged
The Bank of England on Thursday announced it was keeping the benchmark interest rates unchanged at 0.1%. BOE’s Monetary Policy Committee also voted to increase the stock of UK Government and corporate bond purchases to £745 billion. In a statement, it noted the Global and the country’s economic outlook was uncertain citing the negative impact of the virus.
HertZ Suspends Plans to Sell $500M in Stocks
Hertz Global Holdings says it has abandoned plans to sell up to $500 million in stocks after the US Markets regulator SEC notified the company it wants to review the sale, according to Bloomberg. The firm last month filed for bankruptcy citing reduced demand for rental-vehicles and even failed to renegotiate debt obligations with its creditors. Despite issuing the bankruptcy notice, the United States Bankruptcy Court has allowed it to sell up to $1 billion in shares.
