A man walks past a retail store that is going out of business due to the coronavirus pandemic in Winnetka, Illinois. File/Associated Press
The US unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record.
New York: Three big US banks reported strong earnings even as warning signs emerged that the playing field is beginning to tilt against the financial industry. While the biggest risk ahead is that lower interest rates will pressure banks’ bottom lines in the coming months, the squeeze is already beginning. JPMorgan Chase & Co and Wells Fargo
Italy’s jobless rate was stable at 10.2% in April, national statistics bureau ISTAT reported on Tuesday, with employment levels little changed from the month before.
The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll on the labour market as the government winds down its huge job-protection scheme.
Emaar Malls reported revenue of Dhs1.657 billion ($ 451 million) in the first half of 2020. With a first-half net profit of Dhs345 million ($ 94 million) the result demonstrates the resilience of the business.
Dubai Land Department, in cooperation with Property Finder, launched the fourth edition of Mo’asher, Dubai’s official sales price index. The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012,