European shares surge … Awaiting jobs report … Lockheed Martin jet order
UNDATED (AP) – Shares surged today in early European trading and Wall Street futures were higher after a broad advance in Asia as investors await U.S. jobs data for May. Germany’s DAX gained 2% and the CAC 40 in Paris added 2.1%. Britain’s FTSE 100 rose 1.2%. In Asia, the Hang Seng in Hong Kong closed 1.7% higher and the Kospi in South Korea jumped 1.4%. Shares also rose in Taiwan and Southeast Asia.
WASHINGTON (AP) – America’s workers likely suffered another devastating blow in May, with millions more jobs lost to the viral pandemic and an unemployment rate near or even above 20% for the first time since the Great Depression. Economists believe that employers shed 8.5 million more jobs last month on top of the 21.4 million lost in April. A figure that large would raise the total losses since the coronavirus intensified in March to nearly 30 million – more than triple the number of jobs lost during the entire 2008-2009 Great Recession.
BOSTON (AP) -Google says state-based hackers have targeted the campaigns of both President Donald Trump and former Vice President Joe Biden, although it saw no evidence that the phishing attempts were successful. The director of its Threat Analysis Group, Shane Huntley, says a Chinese group known as Hurricane Panda targeted Trump campaign staffers while an Iranian outfit known as Charming Kitten had tried to breach accounts of Biden campaign workers.
WELLINGTON, New Zealand (AP) – New Zealand’s military says it will buy five Super Hercules transport planes from Lockheed Martin for $1 billion. The planes will replace the military’s existing fleet of Hercules, all of which are more than 50 years old and have been involved in a series of embarrassing breakdowns over recent years. Lookheed Martin is based in Bethesda, Maryland.
BERLIN (AP) -Factory orders in Germany plunged even more than anticipated in April, underlining the effect the coronavirus pandemic has had on Europe’s largest economy. The Economy Ministry says industrial orders dropped 25.8% in April over the previous month, in figures adjusted for seasonal and calendar effects. Economists had been predicting a 19.9% drop for April, which is thought to have been the worst month of the economic deterioration ascribed to the pandemic and lockdown measures meant to slow its spread.