Markets

Deutsche Bank

Investigation launched into longtime banker of Trump, Kushner

Deutsche Bank launched an internal investigation into the longtime personal banker for President Trump and his son-in-law, Jared Kushner, a bank spokesman confirmed on Sunday.

Australia, the US, Britain, Canada and New Zealand

Five Eyes alliance could expand in scope to counteract China

The Five Eyes intelligence alliance could be expanded to include Japan and broadened into a strategic economic relationship that pools key strategic reserves such as critical minerals and medical supplies, according to centre-right MPs working internationally to decouple the west from China.

COVID-19

Trump administration sent $1.4bn in stimulus checks to dead people

The Trump administration sent almost $1.4bn in coronavirus stimulus payments to dead people, according to its own watchdog’s report.

Segway

The Segway is officially over

The Segway PT, which earned a place in pop culture but never realized its creators' world-changing ambitions, will come to an end this summer.

hydroxychloroquine

US stockpile stuck with 63 million doses

The federal government is stuck with 63 million doses of hydroxychloroquine now that the US Food and Drug Administration has revoked permission for the drug to be distributed to treat coronavirus patients.

Movies

The Oscars have been delayed until April 2021

Film's biggest night is being rescheduled for the first time in 40 years due to the coronavirus pandemic. The Academy of Motion Picture Arts and Sciences announced on Monday that the 93rd Oscars will no longer take place on February 28 as planned. Instead, the board of governors said the show will take place on April 25, 2021.

Wall Street

Wall Street suffered sharpest daily decline in months

Stocks on Wall Street suffered their sharpest daily decline in months on Thursday as investors’ confidence was rattled by grim new economic forecasts, another 1.5 million weekly unemployment claims and a worrisome uptick in cases in parts of the United States.

BITCOIN

People’s Bank of China Ex-Boss Optimistic about Bitcoin and Cryptocurrencies

Wu Xiaoling, former Vice-President of the People’s Bank of China (PBoC) and now chairperson of Wudaokou School of Finance at Tsinghua University, has once again praised bitcoin and other altcoins, saying although they have their pros and cons, they play a crucial role in development.

Shortnews

Federal Reserve

Fed: Unemployment will fall to 9.3 percent by end of 2020

Federal Reserve leaders predict the U.S. unemployment will fall to 9.3 percent by the end of this year and 6.5 percent by the end of 2021, signaling confidence the economy will begin to recover in coming months from the stunning recession caused by the coronavirus outbreak. In addition to releasing new forecasts, the Fed also announced the benchmark interest rate would remain near zero and the central bank’s extensive bond buying programs will continue “at least at the current pace” for the foreseeable future. Interest rates are likely to remain near zero through at least 2022, the Fed indicated. Low interest rates make it cheaper for Americans to borrow money to buy a home or car and for businesses to take out loans. Mortgage rates fell to an all-time low at the end of May, causing a surge in home buying, even during the pandemic.