The Texas electricity market faces "insurmountable distress" as more gas and service bills come due, power industry officials said on Thursday at a hearing into financial fallout from the state's February blackout.
As policymakers eye a possible recovery in 2021-2022, they must be vigilant about the side effects of prolonged monetary and fiscal stimulus, say William R Rhodes and Stuart PM Mackintosh.
Membership-only retail chain Costco Wholesale Corp beat analysts' estimates for second-quarter revenue on Thursday, as people stuck at home spent more on frozen foods, liquor and electronic products.
Shares of Broadcom Inc fell slightly on Thursday after the company reported chip sales slightly below Wall Street estimates, joining a growing list of chip industry peers hit by the global semiconductor shortage.
Membership-only retail chain Costco Wholesale Corp beat analysts' estimates for second-quarter revenue on Thursday, as people stuck at home spent more on frozen foods, liquor and electronic products.
Wall Street ended sharply lower on Thursday, leaving the Nasdaq down around 10per cent from its February record high, after remarks from Federal Reserve Chair Jerome Powell disappointed investors worried about rising longer-term U.S. bond yields.
U.S. travel demand remains low even as tens of millions of Americans get vaccinated for COVID-19, with just 12per cent planning a spring break trip this year, the industry said Thursday.
Shares in Reddit-darling GameStop climbed to a session high of US$147.87 as volume spiked on Thursday afternoon and the video game retailer's stock was last up 4.5per cent after paring some gains.
The U.S. Senate voted on Thursday to take up President Joe Biden's US$1.9 trillion coronavirus aid bill, setting up what is likely to be a contentious, days-long debate over the merits of the sweeping package.
A federal judge in Manhattan on Thursday dismissed litigation by traders and trading firms accusing Bank of America Corp and Morgan Stanley of manipulating the precious metals futures market by placing trades and then cancelling them before execution, or "spoofing".
