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Business & Finance

Soaring unemployment increases odds U.S. banks will cut dividends

spike 1 year ago

NEW YORK (Reuters) – Questions are building about whether big U.S. banks will have to cut dividends later this year as the coronavirus crisis puts a record portion of Americans out of work, making it difficult for borrowers to pay back loans.

FILE PHOTO: Signage is seen posted on the entrance of the New York State Department of Labor offices, which closed to the public due to the coronavirus disease (COVID-19) outbreak in the Brooklyn borough of New York City, U.S., March 20, 2020. REUTERS/Andrew Kelly – RC2TNF9JT4Y7/File Photo

Wall Street analysts were initially skeptical that U.S. lenders would have

Payment

The blockchain report 2020 – a year in review and beyond

spike 1 year ago

A new report offers a comprehensive review of the blockchain landscape, COVID-19’s impact on crypto, and what’s in store for the rest of 2020.

“Crypto not blockchain” was the dominant narrative in 2019. Not only did Bitcoin have a very good year (up over 90{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}), but investors continued to fund companies building crypto infrastructure. Incumbent financial institutions also looked to expand their service offerings in areas such as custody and trading.

So far in 2020, amid the COVID-19-driven market sell-off, it’s clear that Bitcoin still behaves as a risk-on asset, not a store of value (yet). But despite the

Business News

Mall owner Brookfield will spend $5 billion to save retailers

spike 1 year ago

People walk through the Brookfield Place Pavilion at the World Trade Center West Concourse pedestrian transit connection on October 24, 2013 in New York City.

Getty Images

Property and mall owner Brookfield Asset Management is targeting spending $5 billion to help struggling retailers, as the retail industry reels from the coronavirus pandemic, the company announced Thursday.

The company said its retail revitalization program, backed by Brookfield and its institutional partners, will focus on taking noncontrolling stakes in retailers to assist them with their capital needs during this time of “dislocation.”

The announcement comes as mall-based retail has been one of

Business & Finance

Intel not updating full-year outlook due to ‘economic uncertainty’

spike 1 year ago

(Reuters) – Intel Corp (INTC.O) on Thursday forecast second-quarter earnings below Wall Street views as it cited the cost of readying a new PC chip and said it would not update its full-year forecast because of “significant economic uncertainty” amid the coronavirus pandemic.

FILE PHOTO: U.S. chipmaker Intel Corp’s logo is seen on their “smart building” in Petah Tikva, near Tel Aviv, Israel December 15, 2019. Picture taken December 15, 2019. REUTERS/Amir Cohen

Intel’s shares fell 6{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} in extended trading, even as Intel reported that demand for its processor chips surged in the first quarter as consumers

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