Business

SAN SALVADOR (Reuters) — El Salvador on Tuesday became the first country in the world to adopt bitcoin as legal tender, a real-world experiment proponents say will lower commission costs for billions of dollars sent home from abroad but which critics warned may fuel money laundering. The plan spear…

LONDON (Reuters) — The dollar erased all losses sustained after last week’s poor U.S. jobs report and extended gains versus its rivals on Monday as concerns about slowing global growth boosted its safe-haven appeal in a big week for central banks. The dollar index, which measures the currency…

MANILA (Reuters) — Philippine Airlines will return 22 aircraft, mostly Airbus and Boeing jets, to lessors as it pursues a financial restructuring program to survive after the pandemic has decimated global travel, executives said on Monday. Philippine Airlines last week filed for Chapter 11 bankrupt…

LONDON (Reuters) — Oil prices fell on Monday, extending losses after the world’s top exporter Saudi Arabia cut crude contract prices for Asia over the weekend, reflecting well-supplied global markets and concerns over the demand outlook. Brent crude futures for November fell 28 cents, or 0.39…

NEW YORK (Reuters) — Investors are girding their portfolios for potential stock market volatility, even as equities hover near fresh highs after logging seven straight months of gains. Utilities are the S&P 500’s best-performing sector so far this quarter with a 10.2% gain. They have been…

WASHINGTON (Reuters) — The U.S. economy created the fewest jobs in seven months in August as hiring in the leisure and hospitality sector stalled amid a resurgence in Covid-19 infections, which weighed on demand at restaurants and hotels. But other details of the Labor Department’s closely wa…

(Reuters) — Bitcoin rose 0.49% to $50,188.4 at 1004 GMT on Sunday, adding $245.24 to its previous close. The world’s biggest and best-known cryptocurrency is up 81% from this year’s low of $27,734 on Jan. 4. Ether, the coin linked to the ethereum blockchain network, rose 1.16% to $3,932…

HAGÅTÑA (The Guam Daily Post) — The unemployment rate on Guam for June 2021 was 11.4%, a decrease from the March 2021 figure of 16.5%, according to the Guam Department of Labor. The total number of people unemployed in June 2021 was 8,150, which shows a substantial decrease in the latest quarter, b…

WASHINGTON (Reuters) — The number of Americans filing new claims for jobless benefits fell last week, while layoffs dropped to their lowest level in more than 24 years in August, suggesting the labor market was charging ahead even as new Covid-19 infections surge. The weekly unemployment claims rep…

WASHINGTON (Reuters) — General Motors Co will reduce production at most North American assembly plants this month because of the ongoing semiconductor chip shortage, hitting its profitable truck and sport utility vehicles, it said on Thursday. The largest U.S. automaker will halt production next we…