Business

U.S. will allow Chinese passenger carriers two flights per week

WASHINGTON (Reuters) – The United States will permit Chinese passenger air carriers to operate two flights per week after Beijing said it would ease coronavirus-related restrictions to allow in more foreign carriers, the U.S. Transportation Department said on Friday. FILE PHOTO: A China Eastern Airlines aircraft and a Shanghai Airlines …

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Bonds falter as blazing stock rally lures investors

(Reuters) – Improving U.S. economic data is pushing investors out of U.S. government bonds at the fastest pace in months, the latest sign that risk appetite is returning to broader markets. FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange in response …

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PG&E Corp preparing $11 billion debt financing: investor

(Reuters) – California utility PG&E Corp (PCG.N) is preparing an $11 billion debt-financing package as it prepares to exit from its bankruptcy, an investor involved with the company’s funding plan said on Friday, sending its shares up more than 12%. FILE PHOTO: PG&E works on power lines to repair damage …

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Trump touts job gains as ‘greatest comeback in American history’

WASHINGTON (Reuters) – President Donald Trump on Friday celebrated a stunning U.S. employment report that showed more than 2.5 million jobs were added last month during the thick of the coronavirus pandemic, and predicted the battered economy will recover all of its lost jobs by next year. “Today is probably, …

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Surprise U.S. unemployment rate drop leaves out blacks, Asians

(Reuters) – The U.S. unemployment rate dropped unexpectedly in May, but not all workers benefited equally as joblessness among African Americans and Asians rose, signaling some minorities face a longer recovery as the economy slowly rebounds from the coronavirus shutdowns. FILE PHOTO: People who lost their jobs wait in line …

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