Daily Archive: June 19, 2020

Japan lifts coronavirus travel curbs to help economy bounce back By Reuters

© Reuters. Passersby are seen on a street in Yokohama’s China Town inn Yokohama, Japan

TOKYO (Reuters) – Japan lifted all coronavirus-related curbs on domestic travel on Friday, with Prime Minister Shinzo Abe calling on people to go sightseeing or attend concerts and other events to help the nation’s economy bounce back from a pandemic recession.

Japan began lifting its pandemic lockdown in May as coronavirus infections fell. The latest easing on Thursday comes after the end of an emergency declaration that allowed people to return to work and for bars and restaurants implementing social distancing measures to reopen.

“I would like people, while observing social distancing, to go out on sightseeing trips. We would like you to make an effort to engage in social and economic activity,” Abe said in an address to the country late on Thursday.

The end of a government advisory for people to stay put

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Antitrust investigations into Big Tech are heating up, but analysts say their stocks won’t suffer

The antitrust investigations targeting American big tech companies appear to be once again gaining momentum, but analysts are not overly concerned with the spectre of intervention and don’t believe it should affect the outlook for four of the five FAANG stocks.

Google LLC parent Alphabet Inc., Amazon.com Inc., Apple Inc. and Facebook Inc. are facing increasing pressure in both the United States and the European Union over the business practices they employ to dominate their markets as questions are being asked about whether they harm both consumers and competition.

The legal issues are coming on multiple fronts. The U.S. House of Representatives has requested that the respective chief executives testify in Congress in its probe. The Department of Justice is reportedly getting ready to file antitrust lawsuits against Google over its control of advertising. And the EU is targeting Apple over the large revenue cuts it takes from subscriptions generated

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So much for ‘high yield’: Goldman Sachs cuts rate to 1.05% on Marcus accounts

In 2016, Goldman Sachs launched its flagship consumer product, known as Marcus, and enticed new customers with the promise of “high yield” savings accounts. The rates were never jaw-dropping but, at this time last year, offered a healthy 2.15% return.

Now, the online bank’s rates are clearing 1%—but just barely. This week, Marcus told customers in an email that it was slashing savings returns to 1.05%. The email is the fifth in a series of bad news missives from the bank which began last August, with the latest cut representing a 0.25% decline from a previous cut in early May.

None of this is surprising given that the Federal Reserve signaled last week it intends to keep its benchmark interest rate near zero till 2020. But it’s still discouraging for investors who, only a year ago, could choose from a glut of online banks offering rates that topped 2.5% in … Read More