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SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation into the Fairness of the Merger of Roth CH Acquisition III Co. with Urban Cable Technology
Commodity shipping prices posted their biggest one-day increase in a decade due to strong demand for raw materials
This year has been a landmark year for commodity shipping. Commodity freight rates have just recorded their biggest one-day rise in a decade. The average price of Capesize bulk carriers carrying commodities such as coal and iron ore rose $6700 on Monday, the biggest one-day rise since 2010, as shipowners continued to benefit from strong demand for raw materials. The rate continued its rally on Tuesday, rising to an 11-year high of nearly $53700, according to the Baltic Exchange. As the economy reopens, commodity shipping companies benefit from global stimulus measures. In addition, the recent storm in Asia
US Treasury Secretary Yellen: Temporary measures to help avoid breaking the debt ceiling will be exhausted in October
US Treasury Secretary Janet Yellen said on Wednesday that temporary measures taken by the Treasury to prevent federal debt from breaking the upper limit may be exhausted sometime in October. She provided more detailed forward-looking guidance on this than in the past. “Based on the best and most recent information we have available, the most likely outcome is that cash and unconventional measures will run out in October,” Yellen said in a letter to Congress. “We will continue to update Congress on the situation as more information becomes available in the future.”
Euro zone economic confidence index hit a 21-year high at a time of economic restart
The eurozone's index of economic confidence rose to its highest level in more than 20 years in June as shops, restaurants and other services reopened to lift the economy out of the gloom of the epidemic. The Eurozone economic confidence index released by the European Commission rose to 117.9, exceeding the expectations of almost all economists surveyed by Bloomberg. Upsurge in optimism in the service sector contributed to this growth, but industry, retail trade and construction also improved. With the decline in infection rates and the lifting of restrictions on epidemic prevention, the region's economy is rebounding rapidly. Many countries expect demand for summer months as travel and business activities resume.
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