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Airbus deliveries reach monthly high in September but sales stay subdued

October 10, 2020

So far this year, Airbus has sold 379 planes or a net total of 300 after cancellations. Photo: Getty

Airbus (AIR.PA) reached the highest number of monthly deliveries in September, although order activity remained quiet as COVID-19 continues to hammer the aviation sector.

It delivered 57 jets in September this year, up from 39 in August and exceeding the 55 achieved in February 2020, just before the onset of the airline crisis.

The European planemaker made 341 deliveries over the last nine months including 18 A220s, 282 A320 Family, 9 A330s and 32 A350s. This figure was down 40% from the 571 deliveries the same period last year, with the fall in output triggered by the pandemic.

A significant number of planes were delivered from a parked backlog. Its backlog stands at 7,441 aircraft compared to 7,133 at the same point in 2019.

The only order change registered was the

US weekly jobless claims remain high at 840,000

October 10, 2020

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WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell slightly last week to a still-high 840,000, evidence that job cuts remain elevated seven months into the pandemic recession.

The latest sign of a flagging recovery comes two days after President Donald Trump cut off talks over a new rescue aid package that economists say is urgently needed for millions of unemployed Americans and struggling businesses. A failure to enact another round of government aid would crimp household income and spending, and some economists say it would raise the risk of a double-dip recession.

Thursday’s report from the Labor Department said the number of people who are continuing to receive unemployment benefits dropped 1 million to 11 million. The decline suggests that many of the unemployed are being recalled to their old jobs. But it also reflects the fact that some have used up the 26 weeks of their

CANADA FX DEBT-Canadian dollar, “super-charged” by jobs data, posts 1-month high

October 9, 2020

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(Adds strategist quotes and details throughout; updates prices)

* Canadian dollar rises 0.5% against the greenback

* Canada adds 378,200 jobs in September

* Loonie touches a 1-month high at 1.3111

* Canadian bond yields were mixed across a steeper curve

By Fergal Smith

TORONTO, Oct 9 (Reuters) – The Canadian dollar strengthened
against its U.S. counterpart on Friday to notch its biggest
weekly advance in four months, driven by domestic data showing a
faster pace of job gains and rising hopes of U.S. stimulus that
boosted Wall Street.

Canada added 378,200 jobs in September after an increase of
246,000 in the previous month, handily beating analyst
expectations, as children returned to school and the economy
continued to reopen from coronavirus shutdowns, Statistics
Canada said.

“Accelerating job creation in Canada in September has
super-charged the Canadian dollar” said Michael Goshko,
corporate risk manager at Western Union Business Solutions.

Adding to

TSX at one-month high on strong employment data, commodity gains

October 9, 2020

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(Reuters) – Canada’s main stock index hit a one-month high on Friday after better-than-expected employment data underscored a consistent economic recovery from the coronavirus, while elevated gold and base metal prices also helped.

* At 9:36 a.m. ET (13:36 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 59.53 points, or 0.36%, at 16,594.07.

* The index was also set for its largest weekly gain since mid-July, as heavyweight gold and oil-linked stocks benefited from higher resource prices.

* Canada added 378,200 jobs in September and the unemployment rate fell to 9.0%, beating analyst expectations.

* The materials sector, which includes precious and base metal miners and fertilizer companies, added 2.1% as gold and base metal prices rose on the back of a weak dollar and supply woes.

* While the energy sector fell on the day in tandem with oil prices, it was set to add nearly 9%

‘It’s infuriating’: Backlog of unpaid jobless claims in Washington is still high, advocates say

October 9, 2020

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Even as the number of new jobless claims continues to fall, the number of workers still waiting for jobless benefits in Washington state remains stubbornly high.

Last week, Washingtonians filed 15,496 new unemployment claims, a 12.6% drop from the prior week, the Employment Security Department (ESD) said Thursday. It’s the lowest tally since early March, when pandemic-related layoffs were picking up — and a potential sign of a gradually improving economy. Almost 317,000 Washingtonians were collecting unemployment benefits as of last week. Nationally, there were 840,000 new claims last week, down 1% from a week earlier.

But there were also 20,223 Washingtonians as of last week who are waiting for the ESD to resolve issues with their unemployment claims, according to the agency’s weekly report.

And that figure doesn’t reflect the many thousands of workers who have already been turned down for benefits and are now trying to appeal.

“It’s

US layoffs still high, but so is skepticism on jobless data

October 8, 2020

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WASHINGTON (AP) — The number of Americans seeking unemployment benefits dipped last week to a still-high 840,000, evidence that layoffs remain elevated seven months into the pandemic recession.

Yet economists say they are increasingly dubious about the unemployment claims figures, even though there is little doubt that hiring has slowed and employers have continued to lay off workers.

Disney said last week that it would cut 28,000 jobs. And American Airlines and United Airlines combined furloughed 32,000 employees last week. Airlines had been barred from cutting jobs as long as they were receiving federal aid, which expired this month. The American Hotel & Lodging Association has said that nearly three-quarters of hotels say they’ll have to lay off more workers without further financial aid.

One reason layoffs remain high is that companies often hold on to workers when a recession begins, if they can, in hopes of outlasting the downturn.

U.S. weekly jobless claims inch lower, but remain stubbornly high

October 8, 2020

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By Dan Burns

Oct 8 (Reuters) – The number of Americans filing new claims for jobless benefits inched down last week, signaling the U.S. labor market is making little fresh headway in getting millions of people back on the job after being out of work due to COVID-19 disruptions.

Initial claims for state unemployment benefits totaled a seasonally adjusted 840,000 for the week ended Oct. 3, compared with an upwardly revised 849,000 in the prior week, the Labor Department said on Thursday. Economists polled by Reuters had forecast 820,000 applications in the latest week.

While last week’s level of new claims was the lowest since March, they have stalled at historically high levels after dropping below 1 million in August as the government changed the way it strips seasonal fluctuations from the data. They are above their 665,000 peak during the 2007-09 Great Recession, though filings have dropped from

Canadian dollar notches a 17-day high as oil rallies

October 8, 2020

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TORONTO (Reuters) – The Canadian dollar strengthened to a more-than two-week high against the greenback on Thursday as oil prices rose, while Bank of Canada Governor Tiff Macklem left negative interest rates on the table if the coronavirus crisis were to worsen.

The BoC is not actively discussing negative interest rates but they are a tool the bank could use in case it needs to do more to tackle economic challenges caused by the coronavirus outbreak, Governor Tiff Macklem said. “Never say never,” he said.

The price of oil, one of Canada’s major exports, was supported by output shutdowns in the U.S. Gulf of Mexico and the prospect of more supply losses in Norway, as well as by hopes for some U.S. coronavirus relief aid. U.S. crude <CLc1> prices were up 2.8% at $41.06 a barrel.

The Canadian dollar <CAD=> was trading 0.1% higher at 1.3243 to the greenback, or

British midcaps hit near 2-month high on upbeat Brexit views

October 8, 2020

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By Shashank Nayar

Oct 8 (Reuters) – British midcaps rose to their highest levels in nearly two months on Thursday following the Bank of England Governor’s upbeat views on Brexit and as a slew of corporate results showed signs of an improvement.

Bank of England Governor Andrew Bailey said he believed Britain and the European Union should be able to reach a trade deal, and that he did not expect the new wave of COVID-19 cases to be as damaging as the first.

Capping the market’s gains, however, Prime Minister Boris Johnson’s government said it is considering additional local COVID-19 restrictions for parts of northern England as the second wave of the novel coronavirus accelerates.

The mid-cap index .FTMC, considered a barometer for Brexit sentiment, gained 0.5%. Electrocomponent ECM.L was one of the biggest boosts after it said it expects the virus’ impact to ease in the second

Japan’s Service Sentiment Hits Two-And-A-Half-Year High, Bankruptcies Fall | Investing News

October 8, 2020

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By Daniel Leussink and Leika Kihara

TOKYO (Reuters) – Japan’s service sector sentiment rose in September to the highest level in 2-1/2 years, government data showed on Thursday, suggesting that the economy is gradually recovering from the devastating impact of the coronavirus pandemic.

A survey of workers such as taxi drivers, hotel workers and restaurant staff – called “economy watchers” for their proximity to consumer and retail trends – showed their confidence about current economic conditions grew 5.4 points from August to 49.3 in September.

It was the highest level since April 2018 and the fifth straight month of increase, boding well for the government’s efforts to prevent a pandemic-driven recession from deepening.

“While conditions remain severe due to the pandemic’s fallout, sentiment is improving,” the government said on the survey. “While there are concerns over the pandemic, sentiment is likely to continue recovering,” it said.

A separate private survey