while supply takes longer to recuperate. Demand for jet fuel is unlikely to return to past highs, Jeff Currie, head of global commodities research at Goldman, said in a Friday media briefing. The long-term damage to business-travel demand will keep demand below pre-virus levels until late 2022, Currie added.
Even as traders focus on the risks associated with rebooting economies, Bank of America forecasts the next stage in recovery will bring more uncertainty. The firm wrote Friday that the US isThe third phase will feel "like a recession," the bank said, as a wave of bankruptcies and additional job cuts present new economic hurdles. as investors shrugged off a gloomy jobs report and focused on hopes for economic reopening.as 20.5 million nonfarm payrolls were lost.
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Ask us anything about spending, saving, and investing your money during the coronavirus - Business InsiderWe want to help you make smart decisions with your money. Part of that is a commitment to addressing your most pressing questions about saving, investing, earning, and spending money
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Scott Galloway: US colleges will permanently close due to coronavirus - Business InsiderScott Galloway says if US universities don't stop viewing themselves as 'luxury brands' they may not be able to reopen after coronavirus. We can only wish It should be closed when poor cannot get admission in that institutions. Education should be the right of every person. If not then such institutions are of no use to open.
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US government rejected an offer to manufacture up to 1.7 million N95 masks weekly - Business InsiderMichael Bowen, owner of manufacturer Prestige Ameritech, warned officials of the supply shortage a day after the first coronavirus case in the US. If this administration can’t bid on it they’re not interested. But Obama 🥴 We didn’t need the masks then. Duhhhhh 🙄
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Negative interest rates are coming to the US, a CIO overseeing $270 billion says - Business InsiderCIO Scott Minerd says recent action from the Fed means companies that would normally be shut out of credit markets in times of stress can raise cash. who wants to meet me? 💄
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The tradeoffs between fatalities, GDP, and job loss as the US reopens - Business InsiderReopening could directly increase deaths from the coronavirus, per new research from the University of Pennsylvania's Wharton School of Business. im so high lol InVestors? Asking 'mainstream' economists about reopening the economy is unlikely to generate useful advice. These are the same people who missed the 2008 financialcrisis and were unable to predict the election in 2016.
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