US annual trade deficit largest since 2008 financial crisis

US annual trade deficit largest since 2008 financial crisis

The goods-and-services trade gap widened to $678.7bn in 2020 from $576.9bn in 2019, the US Department of Commerce said. /PRNewswire/ — Ventoux CCM Acquisition Corp. (the “Company”) announced today that, commencing February 5, 2021, holders of the units sold in the Company’s…

The gap in the trade of goods and services widened to $678.7bn in 2020 from $576.9bn in 2019, the US Department of Commerce said.

The U.S. last year posted its biggest annual trade deficit since 2008 as the global health crisis depressed export markets for American companies.

The gap in trade of goods and services widened to $678.7 billion in 2020 from $576.9 billion in 2019, according to Commerce Department data released Friday. The December deficit narrowed 3.5% from the prior month to $66.6 billion, but is wider than the $65.7 billion median estimate of economists.

The pandemic played a pivotal role in spoiling Donald Trump’s four-year push to rebalance the deficit, with Covid-19 crimping demand and upending supply chains. The former president slapped hundreds of billions of dollars of tariffs on the European Union and on China, sparking a trade war that hurt U.S. manufacturing and agriculture even as it protected some slices of industry like steelmakers.

China regained the top spot among U.S. trade partners for goods after finishing behind Mexico and Canada in 2019. The Asian nation and the U.S. a year ago signed the first phase of a trade agreement that’s supposed to see China buying an extra $200 billion of American goods in two years, the result of nearly three years of contentious talks that roiled markets.

For the full year, exports plunged 16%, the most in six decades of data, to $2.13 trillion, the least since 2010. The decline was propelled by a 61% drop in travel, which represents visitors to the U.S., to $76.1 billion. Transport exports retreated by more than one-third to $56.4 billion.

Imports declined 9.5% to $2.81 trillion, the smallest value in four years.

The merchandise-trade deficit for 2020 swelled to $915.8 billion, the most since records started in 1961, while the nation’s surplus in services fell 18% to $237.1 billion, the smallest since 2012.

Overall, the value of U.S. exports plus imports in December rose to $446.5 billion, the highest since February, but still down from $469 billion at the end of 2019.

Source: www.aljazeera.com

Author: By Eric MartinBloomberg


mogo 7Y 10% notes issue

mogo 7Y 10% notes issue

Last update: 06.02.2021 08:56 (GMT+2)

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  • Nominal1,000 EUR
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  • Maturity31.03.2021
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  • Source: nasdaqbaltic.com


    Ventoux CCM Acquisition Corp. Announces the Separate Trading of its Common Stock, Rights and Warrants, Commencing February 5, 2021

    Ventoux CCM Acquisition Corp. Announces the Separate Trading of its Common Stock, Rights and Warrants, Commencing February 5, 2021

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    NEW YORK, Feb. 2, 2021 /PRNewswire/ — Ventoux CCM Acquisition Corp. (the “Company”) announced today that, commencing February 5, 2021, holders of the units sold in the Company’s initial public offering may elect to separately trade shares of the Company’s common stock, rights and warrants included in the units.

    The shares of common stock, rights and warrants that are separated will trade on The Nasdaq Capital Market under the symbols “VTAQ,” “VTAQR” and “VTAQW,” respectively. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of common stock, rights and warrants.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Ventoux CCM Acquisition Corp.

    Ventoux CCM Acquisition Corp. is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. While Ventoux CCM Acquisition Corp. may pursue an initial business combination in any region or sector, it intends to focus our efforts on businesses in North America within the hospitality, leisure, travel and dining sectors with an emphasis on consumer branded businesses that have attractive growth characteristics. In addition, Ventoux CCM Acquisition Corp. intends to pursue technology companies operating in these sectors, such as business and consumer services and infrastructure.

    Forward Looking Statements

    This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company’s initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    Contact:

    Ed Scheetz
    Chairman and CEO, Ventoux CCM Acquisition Corp.
    [email protected]

    SOURCE Ventoux CCM Acquisition Corp.

    Source: www.prnewswire.com

    Author: Ventoux CCM Acquisition Corp.


    Robinhood lifts trading restrictions on all stocks including GameStop, AMC – Ohio Daily News

    Robinhood lifts trading restrictions on all stocks including GameStop, AMC – Ohio Daily News

    Video above: An explanation of shorting and ‘democratizing’ stocksRobinhood lifted trading limits on GameStop, AMC and other Reddit favorites Friday, easing restrictions that engulfed the free-trading app in controversy last week.”There are currently no temporary limits to increasing your positions,” Robinhood said in a blog post.Robinhood outraged customers and lawmakers last week by temporarily suspending purchases of GameStop, AMC, BlackBerry and other stocks backed by an army of traders on Reddit. The restrictions set off calls to boycott the online brokerage and set in motion investigations in Congress.Robinhood has been gradually easing trading restrictions over the past week, increasing the number of shares that users can buy of Reddit stocks.The startup blamed the temporary buying ban on surging market volatility, which drove its deposit requirements at clearinghouses dramatically higher. Robinhood repeatedly denied it was acting at the behest of hedge funds hurt by the GameStop rally. The trading app turned to investors to rapidly raise $3.4 billion, exceeding its total fundraising in the company’s history to that point.After crashing more than 83% so far this week, GameStop shares rallied 8% during premarket trading Friday. AMC rose 5%, regaining a slice of its sharp losses this week.In a Twitter thread Thursday, Robinhood CEO Vlad Tenev acknowledged the challenges facing the fast-growing startup.”Transforming an industry from the inside takes determination, hard work, investment, and a laser focus on the people we want to serve,” Tenev said. “Occasionally there are shortfalls along the way.”Treasury Secretary Janet Yellen summoned regulators at the Securities and Exchange Commission, Federal Reserve and other agencies Thursday to discuss the Reddit-driven market volatility.”The regulators believe the core infrastructure was resilient during high volatility and heavy trading volume and agree on the importance of the SEC releasing a timely study of the events,” the Treasury Department said in a statement Thursday.Treasury said the SEC and Commodities Futures Trading Commission are reviewing “whether trading practices are consistent with investor protection and fair and efficient markets.”

    Video above: An explanation of shorting and ‘democratizing’ stocks

    Robinhood lifted trading limits on GameStop, AMC and other Reddit favorites Friday, easing restrictions that engulfed the free-trading app in controversy last week.

    “There are currently no temporary limits to increasing your positions,” Robinhood said in a blog post.

    Robinhood outraged customers and lawmakers last week by temporarily suspending purchases of GameStop, AMC, BlackBerry and other stocks backed by an army of traders on Reddit. The restrictions set off calls to boycott the online brokerage and set in motion investigations in Congress.

    Robinhood has been gradually easing trading restrictions over the past week, increasing the number of shares that users can buy of Reddit stocks.

    The startup blamed the temporary buying ban on surging market volatility, which drove its deposit requirements at clearinghouses dramatically higher. Robinhood repeatedly denied it was acting at the behest of hedge funds hurt by the GameStop rally. The trading app turned to investors to rapidly raise $3.4 billion, exceeding its total fundraising in the company’s history to that point.

    After crashing more than 83% so far this week, GameStop shares rallied 8% during premarket trading Friday. AMC rose 5%, regaining a slice of its sharp losses this week.

    In a Twitter thread Thursday, Robinhood CEO Vlad Tenev acknowledged the challenges facing the fast-growing startup.

    “Transforming an industry from the inside takes determination, hard work, investment, and a laser focus on the people we want to serve,” Tenev said. “Occasionally there are shortfalls along the way.”

    Treasury Secretary Janet Yellen summoned regulators at the Securities and Exchange Commission, Federal Reserve and other agencies Thursday to discuss the Reddit-driven market volatility.

    “The regulators believe the core infrastructure was resilient during high volatility and heavy trading volume and agree on the importance of the SEC releasing a timely study of the events,” the Treasury Department said in a statement Thursday.

    Treasury said the SEC and Commodities Futures Trading Commission are reviewing “whether trading practices are consistent with investor protection and fair and efficient markets.”

    Source: ohiodailynews.com

    Author: Ohio Daily News


    US annual trade deficit largest since 2008 financial crisis

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