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The American jobs machine tottered last month, confounding optimistic forecasts of the labor market’s recovery and sharpening debates over the impact of federal pandemic-related jobless benefits on the nation’s workforce.

Employers added 266,000 jobs in April, the government reported Friday, far below the gains registered in March. The jobless rate rose slightly, to 6.1%, as the labor force grew faster than the number of jobs.

“It turns out it’s easier to put an economy into a coma than wake it up,” Diane Swonk, chief economist for the accounting firm Grant Thornton, said of the disappointing report. Economists had forecast an addition of about 1 million jobs.

The prolonged uncertainty generated by a virus that killed millions around the world has not yet dissipated, creating skittishness among employers and workers. And there are still 8.2 million fewer jobs than existed before the pandemic.

Despite the modest rate of hiring in April, there are strong signals that the economy is returning to health as infections ebb, vaccinations continue, restrictions lift and businesses reopen. Economists still predict a big expansion in the course of the year.

The largest job gains in April were in leisure and hospitality, two industries that had been particularly hard-hit during the pandemic. More dining out may mean less dining in, though. So as the number of restaurant workers rose, the number of grocery store clerks and couriers declined.

The manufacturing sector lost 18,000 jobs even though consumer demand for goods has been strong. The Alliance for American Manufacturing blamed supply chain problems, noting that “drops in automotive sector employment are almost entirely due to semiconductor shortages.”

Economists, too, have raised concerns that supply bottlenecks in major industries could hamstring growth at a time when people are eager to buy.

As the economy fitfully recovers, there are divergent accounts of what’s going on in the labor market. Employers, particularly in the restaurant and hotel industries, have reported scant response to help-wanted ads. The U.S. Chamber of Commerce and Republican officials have faulted what they call overly generous government jobless benefits.

This week, the Republican governors of Montana, South Carolina and Arkansas said they planned to cut off federally funded pandemic unemployment assistance at the end of June.

That means jobless workers there will no longer get a $300-a-week federal supplement to state benefits, and the states will abandon a pandemic program that helps freelancers and others who don’t qualify for state unemployment insurance. (Montana will, however, offer a $1,200 bonus for unemployed workers who take jobs.)

“What was intended to be short-term financial assistance for the vulnerable and displaced during the height of the pandemic has turned into a dangerous federal entitlement, incentivizing and paying workers to stay at home,” declared Gov. Henry McMaster of South Carolina.

But federal regulations prohibit people from continuing to collect unemployment insurance if they turn down suitable work. And economists have found little evidence to indicate that unemployment benefits are discouraging people from working. At the same time, there are other potent forces constraining the return to work.

Fewer than half of adults are fully vaccinated, leaving most of the population at continuing risk of infection. Millions of Americans have said health concerns and child care responsibilities — with many schools and day care centers not back to normal operations — have kept them from taking a job.

“I do think it is a temporary issue,” Ben Herzon, executive director of U.S. economics at the financial services company IHS Markit, said of the impediments to hiring. By the fall, the risk of infection should drop further as vaccination rates climb. More schools will return to full-time instruction, and extended jobless benefits will expire. “I don’t think there’s anything that will prevent labor force participation and job growth,” Herzon said.

Workers say the real problems are poorly paid jobs with shifting schedules, few benefits and insufficient safety protocols. “The shortage of restaurant workers we are seeing across the country is not a labor-shortage problem; it’s a wage-shortage problem,” said Saru Jayaraman, president of One Fair Wage, a minimum-wage advocacy group.

Former food service workers and others may also be migrating to warehousing jobs with wages as high as $23 an hour and to customer service jobs that are done from home, said Amy Glaser, senior vice president at the staffing firm Adecco.

The most solid evidence of a real shortage of workers, economists say, would be a sustained rise in wages. The Labor Department report showed that hourly wages grew by 0.7% last month while the average number of hours worked per week increased slightly. But economists were cautious about interpreting the wage figure, which reflects a hodgepodge of factors. Wages could also be up because more higher-earning workers are joining the workforce.

The broader debate about the availability of jobs as well as the costs and benefits of returning to work is playing out in cities all over the country.

Home Chef, a meal-kit delivery service owned by supermarket giant Kroger that has seen business explode during the pandemic, has been hiring rapidly. The company employs about 2,000 hourly and salaried workers and expects to hire an additional 2,000 by the end of the year, said Patrick Vihtelic, the founder and CEO.

“In recent weeks, we’ve seen a sharp decline in terms of the number of new job applicants at our plants, despite permanently increasing wages across each of our production facilities in recent months,” Vihtelic said of hiring at his three plants in San Bernardino, California; Lithonia, Georgia; and Bedford Park, Illinois.

He said the company had instituted more employee appreciation programs like paying for celebratory lunches, bringing in food trucks and offering morning coffee and doughnuts.

Despite the falloff in applicants, he is confident the company will get the workers it needs. “Our funnel hasn’t been filling as fast but there’s been no major service disruptions,” he said.

Returning to work is not yet an option for Lauren Fine, an education consultant in Denver. Fine, who is single and has a toddler, lost her job early in the pandemic. She initially collected unemployment benefits, but for the last nine months she has cobbled together jobs like tutoring and contract work.

She said she has been making less than half of her previous salary, creating something of an inescapable cycle: She cannot afford to send her son to day care for more than two days a week, and her child-care responsibilities are preventing her from taking a full-time job. In addition, she said, she has an autoimmune illness, making the possibility of contracting COVID-19 in the workplace especially harrowing.

“I like to say it’s just like spinning plates,” she said. Fine is considering giving up looking for a full-time job for the next year, until her son is old enough to attend school five days a week.

Economists say it is natural for the transition from closure to reopening to be bumpy for a mammoth economy. Employers are wary, wanting to maintain flexibility over hours, pay and long-term commitments. Workers have demands at home and health concerns. Supplies have been redirected or have run out.

“It’s understandable — it’s going to take some time,” said Diane Lim, an economist who has worked at the White House and in Congress and now writes the blog EconomistMom.com. “You’re not just going to snap your fingers and get everyone back to work.”

The American jobs machine tottered last month, confounding optimistic forecasts of the labor market’s recovery and sharpening debates over the impact of federal pandemic-related jobless benefits on the nation’s workforce.

The American jobs machine tottered last month, confounding optimistic forecasts of the labor market’s recovery and sharpening debates over the impact of federal pandemic-related jobless benefits on the nation’s workforce. Employers added 266,000 jobs in April, the government reported Friday, far below the gains registered in March. The jobless rate rose slightly, to 6.1%, as the labor force grew faster than the number of jobs. “It turns out it’s easier to put an economy into a coma than wake it up,” Diane Swonk, chief economist for the accounting firm Grant Thornton, said of the disappointing report. Economists had forecast an addition of about 1 million jobs. The prolonged uncertainty generated by a virus that killed millions around the world has not yet dissipated, creating skittishness among employers and workers. And there are still 8.2 million fewer jobs than existed before the pandemic. Despite the modest rate of hiring in April, there are strong signals that the economy is returning to health as infections ebb, vaccinations continue, restrictions lift and businesses reopen. Economists still predict a big expansion in the course of the year. The largest job gains in April were in leisure and hospitality, two industries that had been particularly hard-hit during the pandemic. More dining out may mean less dining in, though. So as the number of restaurant workers rose, the number of grocery store clerks and couriers declined. The manufacturing sector lost 18,000 jobs even though consumer demand for goods has been strong. The Alliance for American Manufacturing blamed supply chain problems, noting that “drops in automotive sector employment are almost entirely due to semiconductor shortages.” Economists, too, have raised concerns that supply bottlenecks in major industries could hamstring growth at a time when people are eager to buy. As the economy fitfully recovers, there are divergent accounts of what’s going on in the labor market. Employers, particularly in the restaurant and hotel industries, have reported scant response to help-wanted ads. The U.S. Chamber of Commerce and Republican officials have faulted what they call overly generous government jobless benefits. This week, the Republican governors of Montana, South Carolina and Arkansas said they planned to cut off federally funded pandemic unemployment assistance at the end of June. That means jobless workers there will no longer get a $300-a-week federal supplement to state benefits, and the states will abandon a pandemic program that helps freelancers and others who don’t qualify for state unemployment insurance. (Montana will, however, offer a $1,200 bonus for unemployed workers who take jobs.) “What was intended to be short-term financial assistance for the vulnerable and displaced during the height of the pandemic has turned into a dangerous federal entitlement, incentivizing and paying workers to stay at home,” declared Gov. Henry McMaster of South Carolina. But federal regulations prohibit people from continuing to collect unemployment insurance if they turn down suitable work. And economists have found little evidence to indicate that unemployment benefits are discouraging people from working. At the same time, there are other potent forces constraining the return to work. Fewer than half of adults are fully vaccinated, leaving most of the population at continuing risk of infection. Millions of Americans have said health concerns and child care responsibilities — with many schools and day care centers not back to normal operations — have kept them from taking a job. “I do think it is a temporary issue,” Ben Herzon, executive director of U.S. economics at the financial services company IHS Markit, said of the impediments to hiring. By the fall, the risk of infection should drop further as vaccination rates climb. More schools will return to full-time instruction, and extended jobless benefits will expire. “I don’t think there’s anything that will prevent labor force participation and job growth,” Herzon said. Workers say the real problems are poorly paid jobs with shifting schedules, few benefits and insufficient safety protocols. “The shortage of restaurant workers we are seeing across the country is not a labor-shortage problem; it’s a wage-shortage problem,” said Saru Jayaraman, president of One Fair Wage, a minimum-wage advocacy group. Former food service workers and others may also be migrating to warehousing jobs with wages as high as $23 an hour and to customer service jobs that are done from home, said Amy Glaser, senior vice president at the staffing firm Adecco. The most solid evidence of a real shortage of workers, economists say, would be a sustained rise in wages. The Labor Department report showed that hourly wages grew by 0.7% last month while the average number of hours worked per week increased slightly. But economists were cautious about interpreting the wage figure, which reflects a hodgepodge of factors. Wages could also be up because more higher-earning workers are joining the workforce. The broader debate about the availability of jobs as well as the costs and benefits of returning to work is playing out in cities all over the country. Home Chef, a meal-kit delivery service owned by supermarket giant Kroger that has seen business explode during the pandemic, has been hiring rapidly. The company employs about 2,000 hourly and salaried workers and expects to hire an additional 2,000 by the end of the year, said Patrick Vihtelic, the founder and CEO. “In recent weeks, we’ve seen a sharp decline in terms of the number of new job applicants at our plants, despite permanently increasing wages across each of our production facilities in recent months,” Vihtelic said of hiring at his three plants in San Bernardino, California; Lithonia, Georgia; and Bedford Park, Illinois. He said the company had instituted more employee appreciation programs like paying for celebratory lunches, bringing in food trucks and offering morning coffee and doughnuts. Despite the falloff in applicants, he is confident the company will get the workers it needs. “Our funnel hasn’t been filling as fast but there’s been no major service disruptions,” he said. Returning to work is not yet an option for Lauren Fine, an education consultant in Denver. Fine, who is single and has a toddler, lost her job early in the pandemic. She initially collected unemployment benefits, but for the last nine months she has cobbled together jobs like tutoring and contract work. She said she has been making less than half of her previous salary, creating something of an inescapable cycle: She cannot afford to send her son to day care for more than two days a week, and her child-care responsibilities are preventing her from taking a full-time job. In addition, she said, she has an autoimmune illness, making the possibility of contracting COVID-19 in the workplace especially harrowing. “I like to say it’s just like spinning plates,” she said. Fine is considering giving up looking for a full-time job for the next year, until her son is old enough to attend school five days a week. Economists say it is natural for the transition from closure to reopening to be bumpy for a mammoth economy. Employers are wary, wanting to maintain flexibility over hours, pay and long-term commitments. Workers have demands at home and health concerns. Supplies have been redirected or have run out. “It’s understandable — it’s going to take some time,” said Diane Lim, an economist who has worked at the White House and in Congress and now writes the blog EconomistMom.com. “You’re not just going to snap your fingers and get everyone back to work.”

Job growth slowed in April, muddling expectations

Chinese&nbsp;exports&nbsp;grew at a forecast-busting rate last month, data showed Friday, while&nbsp;imports&nbsp;surged at their strongest in a decade as the global economy bounces back from the pandemic crisis and domestic consumption recovers.

With vaccines being rolled out around the world - particularly in the key US market - and economically painful lockdowns being eased, demand for&nbsp;China's goods has picked up this year, having fallen off a cliff in 2020.

Shipments abroad soared 32.3 percent on-year in April - smashing the 24.1 per cent expected in a Bloomberg survey - thanks to a sharp rise in demand for electronics and medical masks.

Also read:&nbsp;<a href="'Military knows all about biological warfare': Bolsonaro's swipe at China over COVID-19">'Military knows all about biological warfare': Bolsonaro's swipe at China over COVID-19</a>

The impressive figures are attributable to last year's very low base of comparison owing to the pandemic.

But they still show that the global recovery is underway, led by the United States where the economy is scorching along on the back of vast government spending and central bank largesse.

"The stimulus in developed economies, especially in the US, sustained their demand for Chinese manufactured products," Nomura chief&nbsp;China&nbsp;economist Lu Ting told AFP.

He added that the worsening Covid-19 outbreak in emerging markets including India also supported Chinese&nbsp;exports, in part because they then rely on&nbsp;China&nbsp;to supply protective gear.

At home, with the coronavirus largely brought under control,&nbsp;China's vast army of consumers are getting back to their daily lives after last year's travails, sending&nbsp;imports&nbsp;up 43.1 per cent, slightly below forecast but the&nbsp;best&nbsp;rise since early 2011.

The jump was also fired by a surge in commodity prices - iron ore is at a record and copper close to one - electronics and integrated circuits, which are then mostly turned around before being shipped abroad.

The strong figures will provide cheer to&nbsp;China's leaders who are looking to recalibrate the economy from state investment and&nbsp;exports-led&nbsp;growth&nbsp;to one more reliant on domestic consumer demand.

But Lu warned of the surging prices of imported commodities noting it "will both trigger higher inflation and depress domestic demand".

Rajiv Biswas, Asia Pacific chief economist at IHS Markit, added that factors such as rising container freight shipping costs, on&nbsp;top&nbsp;of global semiconductor shortages, had "added to&nbsp;China's&nbsp;import&nbsp;bill".

In April,&nbsp;China's trade surplus with the US - a key point of contention during their bruising trade war - rose 23 per cent to $28.1 billion.

Chinese exports grew at a forecast-busting rate last month, data showed Friday, while imports surged at their strongest in a decade as the global economy bounces back from the pandemic crisis and domestic consumption recovers.

Chinese exports grew at a forecast-busting rate last month, data showed Friday, while imports surged at their strongest in a decade as the global economy bounces back from the pandemic crisis and domestic consumption recovers. With vaccines being rolled out around the world - particularly in the key US market - and economically painful lockdowns being eased, demand for China's goods has picked up this year, having fallen off a cliff in 2020. Shipments abroad soared 32.3 percent on-year in April - smashing the 24.1 per cent expected in a Bloomberg survey - thanks to a sharp rise in demand for electronics and medical masks. Also read: 'Military knows all about biological warfare': Bolsonaro's swipe at China over COVID-19 The impressive figures are attributable to last year's very low base of comparison owing to the pandemic. But they still show that the global recovery is underway, led by the United States where the economy is scorching along on the back of vast government spending and central bank largesse. "The stimulus in developed economies, especially in the US, sustained their demand for Chinese manufactured products," Nomura chief China economist Lu Ting told AFP. He added that the worsening Covid-19 outbreak in emerging markets including India also supported Chinese exports, in part because they then rely on China to supply protective gear. At home, with the coronavirus largely brought under control, China's vast army of consumers are getting back to their daily lives after last year's travails, sending imports up 43.1 per cent, slightly below forecast but the best rise since early 2011. The jump was also fired by a surge in commodity prices - iron ore is at a record and copper close to one - electronics and integrated circuits, which are then mostly turned around before being shipped abroad. The strong figures will provide cheer to China's leaders who are looking to recalibrate the economy from state investment and exports-led growth to one more reliant on domestic consumer demand. But Lu warned of the surging prices of imported commodities noting it "will both trigger higher inflation and depress domestic demand". Rajiv Biswas, Asia Pacific chief economist at IHS Markit, added that factors such as rising container freight shipping costs, on top of global semiconductor shortages, had "added to China's import bill". In April, China's trade surplus with the US - a key point of contention during their bruising trade war - rose 23 per cent to $28.1 billion.

China's exports top forecasts, imports growth best in 10 years

Japan&nbsp;Airlines&nbsp;posted an annual net loss of $2.6 billion Friday but did not release a forecast for the current financial year, citing uncertainty around the coronavirus pandemic.

The carrier,&nbsp;Japan's second-largest by market share, suffered a net loss of 286.7 billion yen for the year through March, its first full-year result in the red since it relisted on the Tokyo Stock Exchange in 2012.

"There has been no indication of passenger demand recovery yet" due to restrictions on international travel and tougher immigration measures,&nbsp;JAL&nbsp;said.

"Our situation has been severe throughout this fiscal year."

The company last week revised its projection for 2020-21 net loss to 287 billion yen from a 300 billion yen forecast in February.

JAL&nbsp;said it had decided not to release an outlook for the year ending March 2022, warning "it is difficult to foresee the recovery of demand while the global spread of Covid-19 shows no sign of slowdown".

Sales plunged 65.3 per cent compared to the previous year to 481.2 billion yen.

Last month,&nbsp;Japan's top airline ANA reported its worst-ever annual loss of 404.6 billion yen, which was smaller than the firm's earlier projection.

Also read |&nbsp;<a href="https://www.wionews.com/world/japan-extends-virus-emergency-as-india-posts-record-infections-383528">Japan extends virus emergency as India posts record infections</a>

But ANA Holdings said it expects to see a rebound to 3.5 billion yen net profit in 2021-22, as the coronavirus disruption that has battered the aviation industry worldwide begins to ease.

Japan's&nbsp;airlines&nbsp;had expected a bumper year in 2020 when the Tokyo Olympics were originally due to be held and tourist numbers were expected to break records.

The postponed games are now set to open in July, but overseas spectators have already been barred from the event, with a decision on domestic fans delayed until June.

Japan Airlines posted an annual net loss of $2.6 billion Friday but did not release a forecast for the current financial year, citing uncertainty around the coronavirus pandemic.

Japan Airlines posted an annual net loss of $2.6 billion Friday but did not release a forecast for the current financial year, citing uncertainty around the coronavirus pandemic. The carrier, Japan's second-largest by market share, suffered a net loss of 286.7 billion yen for the year through March, its first full-year result in the red since it relisted on the Tokyo Stock Exchange in 2012. "There has been no indication of passenger demand recovery yet" due to restrictions on international travel and tougher immigration measures, JAL said. "Our situation has been severe throughout this fiscal year." The company last week revised its projection for 2020-21 net loss to 287 billion yen from a 300 billion yen forecast in February. JAL said it had decided not to release an outlook for the year ending March 2022, warning "it is difficult to foresee the recovery of demand while the global spread of Covid-19 shows no sign of slowdown". Sales plunged 65.3 per cent compared to the previous year to 481.2 billion yen. Last month, Japan's top airline ANA reported its worst-ever annual loss of 404.6 billion yen, which was smaller than the firm's earlier projection. Also read | Japan extends virus emergency as India posts record infections But ANA Holdings said it expects to see a rebound to 3.5 billion yen net profit in 2021-22, as the coronavirus disruption that has battered the aviation industry worldwide begins to ease. Japan's airlines had expected a bumper year in 2020 when the Tokyo Olympics were originally due to be held and tourist numbers were expected to break records. The postponed games are now set to open in July, but overseas spectators have already been barred from the event, with a decision on domestic fans delayed until June.

Japan Airlines logs $2.6 billion loss over pandemic

The number of Americans filing new claims for unemployment benefits fell below 500,000 last week for the first since the COVID-19 pandemic started more than a year ago, signaling the labor market recovery had entered a new phase amid a booming economy.

World Business Watch: US weekly jobless claims drop below 500,000, layoffs lowest since 2000

Demand for workers from British employers soared this month at the fastest rate since the late 1990s as much of the economy reopened following the latest coronavirus lockdown, a survey of recruitment consultants showed on Friday.

World Business Watch: UK jobs market hits full throttle as lockdown eases

World's largest economy US is recovering at a fast pace. Businesses and households improved their balance sheets late last year with the help of government support, but some consumers and the smallest businesses continued to struggle.

World Business Watch: US households and businesses facing unequal recovery

One of Europe's largest airline Air France- KLM has posted a wider first quarter operating loss. Air France-KLM sales are showing little sign so far of the travel recovery it still hopes to see by summer, with the group also confirming it's intention to raise more capital within months.

World Business Watch: Air France-KLM falls further into red as European recovery lags

Oil prices slipped on Thursday, reversing early gains under pressure from rising COVID-19 infections in India and elsewhere although prices retained some support from a report the previous session that showed US crude inventories fell much more sharply than expected.

Brent crude oil futures fell by 43 cents, or 0.6 per cent, to $68.54 a barrel by 11:47 a.m. ET (1547 GMT). West Texas Intermediate (WTI) US crude futures slipped 54 cents, or 0.8 per cent, to $65.09.

"When Saudi Arabia cut their crude selling price, it was a stark reminder that there are still pockets of danger of COVID that could impact demand," said Phil Flynn, a senior analyst at Price Futures Group in Chicago.

On Wednesday, both benchmarks hit their highest since mid-March before retreating to close little changed after two days of gains.

India posted record daily COVID-19 infections and deaths, with the virus spreading from cities to villages across the world's second-most populous nation, dashing hopes that the country's deadly second wave was about to peak.

"The record numbers of new infections in India have been making the headlines and fueling fears that demand may recover more slowly," Commerzbank said.

Yet easing restrictions in Europe and falling US crude inventories supported prices.

"As the rollout of vaccines continues and a pent-up summer driving season continues to manifest, this trend should accelerate, keeping demand for motor fuels robust and boosting market confidence in the recovery story," Citi analysts said in a note.

US crude stocks fell more than expected last week as refining output rose and exports surged, the Energy Information Administration said on Wednesday.&nbsp;

Crude inventories fell by 8 million barrels to 485.1 million barrels in the week to April 30, compared with expectations in a Reuters poll for a drop of 2.3 million barrels.

Commerzbank analysts cited "a massive fall in net crude oil imports to around 1.3 million barrels per day, their lowest level in at least 40 years".&nbsp;

They added that gasoline demand in the world's largest oil importer has proved disappointing, with stocks rising slightly last week.

Oil prices slipped on Thursday, reversing early gains under pressure from rising COVID-19 infections in India and elsewhere although prices retained some support from a report the previous session that showed US crude inventories fell much more sharply than expected.

Oil prices slipped on Thursday, reversing early gains under pressure from rising COVID-19 infections in India and elsewhere although prices retained some support from a report the previous session that showed US crude inventories fell much more sharply than expected. Brent crude oil futures fell by 43 cents, or 0.6 per cent, to $68.54 a barrel by 11:47 a.m. ET (1547 GMT). West Texas Intermediate (WTI) US crude futures slipped 54 cents, or 0.8 per cent, to $65.09. "When Saudi Arabia cut their crude selling price, it was a stark reminder that there are still pockets of danger of COVID that could impact demand," said Phil Flynn, a senior analyst at Price Futures Group in Chicago. On Wednesday, both benchmarks hit their highest since mid-March before retreating to close little changed after two days of gains. India posted record daily COVID-19 infections and deaths, with the virus spreading from cities to villages across the world's second-most populous nation, dashing hopes that the country's deadly second wave was about to peak. "The record numbers of new infections in India have been making the headlines and fueling fears that demand may recover more slowly," Commerzbank said. Yet easing restrictions in Europe and falling US crude inventories supported prices. "As the rollout of vaccines continues and a pent-up summer driving season continues to manifest, this trend should accelerate, keeping demand for motor fuels robust and boosting market confidence in the recovery story," Citi analysts said in a note. US crude stocks fell more than expected last week as refining output rose and exports surged, the Energy Information Administration said on Wednesday. Crude inventories fell by 8 million barrels to 485.1 million barrels in the week to April 30, compared with expectations in a Reuters poll for a drop of 2.3 million barrels. Commerzbank analysts cited "a massive fall in net crude oil imports to around 1.3 million barrels per day, their lowest level in at least 40 years". They added that gasoline demand in the world's largest oil importer has proved disappointing, with stocks rising slightly last week.

Oil prices slip on worries of pandemic surge in India

Ether, the world's second-largest&nbsp;cryptocurrency&nbsp;after Bitcoin, on Thursday rose to a&nbsp;record&nbsp;high&nbsp;of $3,591.65 on the Bitstamp Exchange.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/bitcoin-other-cryptocurrencies-tumble-over-biden-tax-plan-fears-379752">Bitcoin, other cryptocurrencies tumble over Biden tax plan fears</a>

Ether&nbsp;was last up about 3.0 per cent&nbsp;at $3,568.92. Bitcoin was down 0.7 per cent&nbsp;at $57,109.40 and about 12 per cent&nbsp;below its&nbsp;record&nbsp;intraday&nbsp;high&nbsp;at $64,895.22 set on April 14.

Ether, the world's second-largest cryptocurrency after Bitcoin, on Thursday rose to a record high of $3,591.65 on the Bitstamp Exchange. Also read | Bitcoin, other cryptocurrencies tumble over Biden tax plan fears Ether was last up about 3.

Ether, the world's second-largest cryptocurrency after Bitcoin, on Thursday rose to a record high of $3,591.65 on the Bitstamp Exchange. Also read | Bitcoin, other cryptocurrencies tumble over Biden tax plan fears Ether was last up about 3.0 per cent at $3,568.92. Bitcoin was down 0.7 per cent at $57,109.40 and about 12 per cent below its record intraday high at $64,895.22 set on April 14.

Cryptocurrency 'Ether' rises to new record high

Exercise equipment maker Peloton Interactive is recalling its Tread+ and Tread treadmill machines after injuries and a death, according to a statement by the United States Consumer Product Safety Commission.

The recall comes more than a month after Peloton Chief Executive Officer John Foley asked owners of its treadmills to check safety warnings after a child died in an accident involving the company's exercise equipment.

"I want to be clear, Peloton made a mistake in our initial response to the Consumer Product Safety Commission's request that we recall the Tread+," Foley said in a statement.

"We should have engaged more productively with them from the outset. For that, I apologise".

The agency said Peloton has also stopped sale and distribution of the Tread+ and continues to work on additional hardware modifications.

Peloton reports earnings on Thursday (May 6).

 
&nbsp;

Exercise equipment maker Peloton Interactive is recalling its Tread+ and Tread treadmill machines after injuries and a death, according to a statement by the United States Consumer Product Safety Commission.

Exercise equipment maker Peloton Interactive is recalling its Tread+ and Tread treadmill machines after injuries and a death, according to a statement by the United States Consumer Product Safety Commission. The recall comes more than a month after Peloton Chief Executive Officer John Foley asked owners of its treadmills to check safety warnings after a child died in an accident involving the company's exercise equipment. "I want to be clear, Peloton made a mistake in our initial response to the Consumer Product Safety Commission's request that we recall the Tread+," Foley said in a statement. "We should have engaged more productively with them from the outset. For that, I apologise". The agency said Peloton has also stopped sale and distribution of the Tread+ and continues to work on additional hardware modifications. Peloton reports earnings on Thursday (May 6).

Peloton recalling treadmills after child death

PayPal Holdings reported its strongest first quarter on record and beat profit estimates on Wednesday, with a coronavirus-driven shift to online shopping and digital transactions boosting payment volumes.

World Business Watch: PayPal profit tops estimates on digital payments boom

According to ADP's monthly employment report, US Private payrolls grew by 742,000 last month in April. The Wednesday reading marks a fourth straight month of job growth and places private-sector payrolls at their highest since March 2020, when the pandemic first rocked the US economy.

World Business Watch: US private payrolls climb by 742,000 as labor market improves

WASHINGTON (Reuters) - The International Monetary Fund on Thursday said the recent upsurge in COVID-19 cases in India posed downside risks to the Fund`s April forecast for 12.5% growth in India`s economic output in fiscal years 2021 and 2022. The IMF will revisit that forecast when it issued a fresh World Economic Outlook in July, IMF spokesman Gerry Rice told reporters at a regular briefing, but gave no further details. He said the developments in India would have spillover effects for the region and the global economy, depending on how long the crisis lasted. (Reporting by Andrea Shalal and David Lawder; Editing by Chizu Nomiyama)

WASHINGTON (Reuters) - The International Monetary Fund on Thursday said the recent upsurge in COVID-19 cases in India posed downside risks to the Fund`s April forecast for 12.

WASHINGTON (Reuters) - The International Monetary Fund on Thursday said the recent upsurge in COVID-19 cases in India posed downside risks to the Fund`s April forecast for 12.5% growth in India`s economic output in fiscal years 2021 and 2022. The IMF will revisit that forecast when it issued a fresh World Economic Outlook in July, IMF spokesman Gerry Rice told reporters at a regular briefing, but gave no further details. He said the developments in India would have spillover effects for the region and the global economy, depending on how long the crisis lasted. (Reporting by Andrea Shalal and David Lawder; Editing by Chizu Nomiyama)

IMF to revisit growth forecast for India due to surge in COVID-19 cases - spokesman

Indian stock markets closed with gains on the weekly expiry. S&amp;P BSE Sensex gained 272 points to close at 48,949 while the 50-share index closed at 14,725 level, up 107 points or 0.7 per cent.&nbsp;

Bajaj Auto and HDFC were the top gainers on Sensex, both gaining more than 2% each. On the other hand, Power Grid, ONGC, and Asian Paints were the top laggards.&nbsp;

Broader markets mirrored the up-move and so did India VIX, the volatility gauge. Bank Nifty ended with gains but the Nifty PSU Bank index recorded some profit booking.

Sectorally, the Nifty PSU Bank and Pharma indices nursed losses on the NSE today, down 1.2 per cent and 0.3 per cent, respectively. On the upside, metals and IT stocks continued to shine with the Nifty Metal and IT indices soaring up to 2.5 per cent.

Global markets

European stocks inched higher on Thursday, hovering near record levels, as strong earnings reports from AB Inbev and several eurozone banks added to an upbeat mood sparked by solid economic data.

The pan-European STOXX 600 index rose 0.2 per cent, with food and beverage, utilities and telecoms leading the gains.&nbsp;

In Asia, Japan's Nikkei jumped 1.8 per cent as it reopened after a five-day holiday while MSCI’s index of Asia-Pacific shares outside Japan gained 0.19 per cent. But Chinese shares, also resuming trade for the first time since last week, wobbled. The CSI300 fell 1.2 per cent, led by falls in biotech firms.

(With inputs from Reuters)&nbsp;

Indian stock markets closed with gains on the weekly expiry. S&P BSE Sensex gained 272 points to close at 48,949 while the 50-share index closed at 14,725 level, up 107 points or 0.

Indian stock markets closed with gains on the weekly expiry. S&P BSE Sensex gained 272 points to close at 48,949 while the 50-share index closed at 14,725 level, up 107 points or 0.7 per cent. Bajaj Auto and HDFC were the top gainers on Sensex, both gaining more than 2% each. On the other hand, Power Grid, ONGC, and Asian Paints were the top laggards. Broader markets mirrored the up-move and so did India VIX, the volatility gauge. Bank Nifty ended with gains but the Nifty PSU Bank index recorded some profit booking. Sectorally, the Nifty PSU Bank and Pharma indices nursed losses on the NSE today, down 1.2 per cent and 0.3 per cent, respectively. On the upside, metals and IT stocks continued to shine with the Nifty Metal and IT indices soaring up to 2.5 per cent. Global markets European stocks inched higher on Thursday, hovering near record levels, as strong earnings reports from AB Inbev and several eurozone banks added to an upbeat mood sparked by solid economic data. The pan-European STOXX 600 index rose 0.2 per cent, with food and beverage, utilities and telecoms leading the gains. In Asia, Japan's Nikkei jumped 1.8 per cent as it reopened after a five-day holiday while MSCI’s index of Asia-Pacific shares outside Japan gained 0.19 per cent. But Chinese shares, also resuming trade for the first time since last week, wobbled. The CSI300 fell 1.2 per cent, led by falls in biotech firms. (With inputs from Reuters)

Sensex rallies 272 points, Nifty ends above 14,700

US hotel operator Hyatt Hotels reported a bigger loss for the first quarter on Tuesday as people stayed at home due to the COVID-19 pandemic. Net loss attributable to Hyatt was $304 million, or $2.99 per share, in the three months ended March 31, compared with a loss of $103 million, or $1.02 per share, a year earlier.

World Business Watch: Hyatt posts bigger loss as COVID-19 pandemic keeps people at home

Pfizer sharply increased its projections for 2021 revenues and profits on Tuesday, citing much higher COVID-19 vaccine sales as it targets the inoculations as a "durable" revenue stream.

The drugmaker, which has a number of projects to expand vaccinations to additional populations and to provide booster doses, now estimates 2021 revenues of $26 billion from the vaccine, up from $15 billion previously.

Watch |&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/us-fda-to-approve-pfizer-covid-19-vaccine-for-teens-by-next-week-382704/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Pfizer now sees profits of between $3.55 and $3.65 a share for the year, an increase of 45 cents from the previous estimate.

Chief Executive Albert Bourla expects "durable demand" for COVID-19 vaccines, similar to that of the flu vaccine.

The company is ramping up capacity for the shots, which were developed with German company BioNTech.

"It is our hope that the Pfizer-BioNTech vaccine will continue to have a global impact by helping to get the devastating pandemic under control and helping economies around the world not only open -- but stay open," Bourla said in prepared remarks ahead of a conference call later Tuesday.&nbsp;

He said that would create "a scenario in which Pfizer can continue to be both a leader and a beneficiary."

Pfizer reported net income of $4.9 billion, up 45 per cent from the same period of the prior year.

Revenues also jumped 45 per cent to $14.6 billion, including $3.5 billion in COVID-19 vaccine sales.

Pfizer expects to deliver 1.6 billion doses this year under contracts signed through mid-April.

The company's results also included a "solid" performance in non-vaccine products. Products with higher sales included Eliquis, which is used to prevent blood clots, and Xeljanz, which treats rheumatoid arthritis, among other ailments.&nbsp;

As with other COVID-19 vaccine producers, Pfizer developed its version at an exceptionally fast pace. The company is expected to soon win approval in the United States to provide shots to children 12 to 15 years old, and is researching providing the doses to healthy children six months to 11 years old.

Pfizer also is evaluating a third dose of the treatment "to understand the effect of a booster" against COVID-19 variants now in circulation.

The drugmaker said it reached agreements with Israel to supply millions of doses in 2022, and with Canada to supply 125 million doses in 2022 and 2023, with options into 2024.

The company and partner BioNTech have significant supply agreements with the United States and the European Union.&nbsp;

After logistical problems in Europe, Pfizer and BioNTech are on track to significantly boost vaccine production in Puurs, Belgium.

As of May 3, Pfizer and BioNTech have shipped about 430 million doses of the vaccine to 91 countries around the world.

The company is building more capacity and expects to manufacture at least three billion doses in 2022, up from 2.5 billion now expected in 2021. In February, Pfizer said it expected to produce up to two billion doses in 2021.

Pfizer shares rose 0.8 percent to $40.13 in pre-market trading.

Pfizer sharply increased its projections for 2021 revenues and profits on Tuesday, citing much higher COVID-19 vaccine sales as it targets the inoculations as a "durable" revenue stream.

Pfizer sharply increased its projections for 2021 revenues and profits on Tuesday, citing much higher COVID-19 vaccine sales as it targets the inoculations as a "durable" revenue stream. The drugmaker, which has a number of projects to expand vaccinations to additional populations and to provide booster doses, now estimates 2021 revenues of $26 billion from the vaccine, up from $15 billion previously. Watch | Pfizer now sees profits of between $3.55 and $3.65 a share for the year, an increase of 45 cents from the previous estimate. Chief Executive Albert Bourla expects "durable demand" for COVID-19 vaccines, similar to that of the flu vaccine. The company is ramping up capacity for the shots, which were developed with German company BioNTech. "It is our hope that the Pfizer-BioNTech vaccine will continue to have a global impact by helping to get the devastating pandemic under control and helping economies around the world not only open -- but stay open," Bourla said in prepared remarks ahead of a conference call later Tuesday. He said that would create "a scenario in which Pfizer can continue to be both a leader and a beneficiary." Pfizer reported net income of $4.9 billion, up 45 per cent from the same period of the prior year. Revenues also jumped 45 per cent to $14.6 billion, including $3.5 billion in COVID-19 vaccine sales. Pfizer expects to deliver 1.6 billion doses this year under contracts signed through mid-April. The company's results also included a "solid" performance in non-vaccine products. Products with higher sales included Eliquis, which is used to prevent blood clots, and Xeljanz, which treats rheumatoid arthritis, among other ailments. As with other COVID-19 vaccine producers, Pfizer developed its version at an exceptionally fast pace. The company is expected to soon win approval in the United States to provide shots to children 12 to 15 years old, and is researching providing the doses to healthy children six months to 11 years old. Pfizer also is evaluating a third dose of the treatment "to understand the effect of a booster" against COVID-19 variants now in circulation. The drugmaker said it reached agreements with Israel to supply millions of doses in 2022, and with Canada to supply 125 million doses in 2022 and 2023, with options into 2024. The company and partner BioNTech have significant supply agreements with the United States and the European Union. After logistical problems in Europe, Pfizer and BioNTech are on track to significantly boost vaccine production in Puurs, Belgium. As of May 3, Pfizer and BioNTech have shipped about 430 million doses of the vaccine to 91 countries around the world. The company is building more capacity and expects to manufacture at least three billion doses in 2022, up from 2.5 billion now expected in 2021. In February, Pfizer said it expected to produce up to two billion doses in 2021. Pfizer shares rose 0.8 percent to $40.13 in pre-market trading.

Pfizer raises 2021 sales forecast for Covid vaccines to $26 billion

The US trade deficit jumped to a record high in March amid roaring domestic demand, which is drawing in imports, and the gap could widen further as the nation's economic activity rebounds faster than its global rivals.

World Business Watch: US trade deficit hits record $74.4 billion in March

The restructuring option will be open to borrowers who hadn’t availed in 2020. Borrowers can now opt for it if the amount is less than Rs 25 crore.

RBI Governor announces loans restructuring facility for small borrowers

The benchmark S&amp;P BSE Sensex closed the session at 48,677.5 levels, up 424 points or 0.88 per cent. In the intra-day trade, the 30-share barometer hit a high and low of 48,743 and 48,254, respectively.

On the NSE, the Nifty50 hit an intra-day high of 14,637 but shut shop at 14,618 levels, up 121 points or 0.84 per cent.

In the broader markets, the S&amp;P BSE MidCap index settled over 1 per cent higher while the S&amp;P BSE SmallCap index gained 0.7 per cent.

Global markets

European stocks bounced back on Wednesday after a sharp selloff in the previous session, helped by gains in commodity and banking stocks. The pan-European STOXX 600 index rose 1.3 per cent, with the German DAX jumping 1.3 per cent and the UK's FTSE 100 gaining 1.1 per cent.

On Wall Street, futures of all three main indices were ruling up to 0.5 per cent higher.

(With inputs from Reuters)

The benchmark S&P BSE Sensex closed the session at 48,677.5 levels, up 424 points or 0.88 per cent. In the intra-day trade, the 30-share barometer hit a high and low of 48,743 and 48,254, respectively.

The benchmark S&P BSE Sensex closed the session at 48,677.5 levels, up 424 points or 0.88 per cent. In the intra-day trade, the 30-share barometer hit a high and low of 48,743 and 48,254, respectively. On the NSE, the Nifty50 hit an intra-day high of 14,637 but shut shop at 14,618 levels, up 121 points or 0.84 per cent. In the broader markets, the S&P BSE MidCap index settled over 1 per cent higher while the S&P BSE SmallCap index gained 0.7 per cent. Global markets European stocks bounced back on Wednesday after a sharp selloff in the previous session, helped by gains in commodity and banking stocks. The pan-European STOXX 600 index rose 1.3 per cent, with the German DAX jumping 1.3 per cent and the UK's FTSE 100 gaining 1.1 per cent. On Wall Street, futures of all three main indices were ruling up to 0.5 per cent higher. (With inputs from Reuters)

Sensex ends at 48,677, Nifty closes at 14,617

US automaker Ford Motor said on Monday that it was scaling back production at its plants in Cologne and Saarlouis for the next few weeks due to a semiconductor chip shortage.

World Business Watch: Ford cuts production at two German plants due to chip shortage

Electric vehicle maker Tesla, facing scrutiny in China over safety and customer service complaints, is boosting its engagement with mainland regulators and beefing up its government relations team.

World Business Watch: Tesla under scrutiny in China, steps up engagement with regulators

Billionaire investor Warren Buffett has confirmed that the vice-chairman of his Berkshire Hathaway investment conglomerate, Greg Abel, will succeed him as chief executive of the company.

World Business News: Warren Buffett names Greg Abel as next CEO of Berkshire Hathaway

Domestic stock market indices fell sharply going into the last hour of trade on Tuesday amid fresh woes about the impact of coronavirus on business as BCCI cancelled the ongoing IPL season after several players and support staff turned COVID-19 positive.&nbsp;

S&amp;P BSE Sensex ended at 48,253, down 465 points while the Nifty 50 index closed just shy of 14,500. Reliance Industries was the biggest Sensex drag, falling 2.11%. It was followed by Sun Pharma, Dr Reddy’s, and HDFC Twins.&nbsp;

ONGC, Bajaj Finance, and TCS were the top gainers. &nbsp;Nifty PSU Bank index was the only sectoral gauge to close in the green. Broader markets mirrored the fall and closed with losses.

Global markets

Economically sensitive sectors, including miners, travel and energy, drove gains in European stocks on Tuesday, with British shares outperforming after a holiday-extended weekend.

The pan-European STOXX 600 index rose 0.4 per cent in early trading, with the German DAX up 0.2 per cent, and the UK's FTSE 100 rising 0.8 per cent.

Earlier in Asia, South Korea's Kospi added 0.6 per cent and Australia's S&amp;P/ASX200 gained 0.5 per cent.

(With inputs from Reuters)

Domestic stock market indices fell sharply going into the last hour of trade on Tuesday amid fresh woes about the impact of coronavirus on business as BCCI cancelled the ongoing IPL season after several players and support staff turned COVID-19 positive.

Domestic stock market indices fell sharply going into the last hour of trade on Tuesday amid fresh woes about the impact of coronavirus on business as BCCI cancelled the ongoing IPL season after several players and support staff turned COVID-19 positive. S&P BSE Sensex ended at 48,253, down 465 points while the Nifty 50 index closed just shy of 14,500. Reliance Industries was the biggest Sensex drag, falling 2.11%. It was followed by Sun Pharma, Dr Reddy’s, and HDFC Twins. ONGC, Bajaj Finance, and TCS were the top gainers. Nifty PSU Bank index was the only sectoral gauge to close in the green. Broader markets mirrored the fall and closed with losses. Global markets Economically sensitive sectors, including miners, travel and energy, drove gains in European stocks on Tuesday, with British shares outperforming after a holiday-extended weekend. The pan-European STOXX 600 index rose 0.4 per cent in early trading, with the German DAX up 0.2 per cent, and the UK's FTSE 100 rising 0.8 per cent. Earlier in Asia, South Korea's Kospi added 0.6 per cent and Australia's S&P/ASX200 gained 0.5 per cent. (With inputs from Reuters)

Sensex ends 465 points lower, Nifty just shy of 14,500

Volkswagen expects semiconductor supplies to car sector to remain tight incoming months. Ralf Brandstaetter, CEO of the Volkswagen brand and member of the carmaker's management board said "I think the situation will remain tense".

World Business Watch: Volkswagen expects chip supply to remain tight in coming months

Oil prices climbed on Monday (May 03) as optimism about a strong rebound in fuel demand in developed countries and China in the second half of the year overshadowed growing concerns of a full lockdown in India to curb the COVID-19 pandemic.

World Business Watch: Oil prices rise amid strong rebound in fuel demand

American investor and business tycoon Warren Buffett has accepted that selling some shares of Apple in Berkshire Hathaway's portfolio last year was likely a mistake, with the company remaining a tech leader providing massive utility to users around the world.&nbsp;

Warren Buffett said he was likely wrong to cash out some of his Apple shares last year.

"I sold some stock last year," the famed investor said at Berkshire Hathaway's annual meeting on Saturday. "That was probably a mistake."

The annual meeting was held in Los Angeles, where Buffett joined Berkshire's 97-year-old vice chairman Charlie Munger, to answer more than three hours of shareholder questions.

Greg Abel and Ajit Jain, Berkshire's other vice chairmen and potentially successors to Buffett as chief executive, also fielded several questions.

Asked about their rapport, Jain said that they don't interact as much as Munger and Buffett, but they talk every quarter about businesses they oversee.

Buffett stood by Apple, calling the iPhone maker an "extraordinary business" with "indispensable" products.

(With inputs from agencies)

American investor and business tycoon Warren Buffett has accepted that selling some shares of Apple in Berkshire Hathaway's portfolio last year was likely a mistake, with the company remaining a tech leader providing massive utility to users around the world.

American investor and business tycoon Warren Buffett has accepted that selling some shares of Apple in Berkshire Hathaway's portfolio last year was likely a mistake, with the company remaining a tech leader providing massive utility to users around the world. Warren Buffett said he was likely wrong to cash out some of his Apple shares last year. "I sold some stock last year," the famed investor said at Berkshire Hathaway's annual meeting on Saturday. "That was probably a mistake." The annual meeting was held in Los Angeles, where Buffett joined Berkshire's 97-year-old vice chairman Charlie Munger, to answer more than three hours of shareholder questions. Greg Abel and Ajit Jain, Berkshire's other vice chairmen and potentially successors to Buffett as chief executive, also fielded several questions. Asked about their rapport, Jain said that they don't interact as much as Munger and Buffett, but they talk every quarter about businesses they oversee. Buffett stood by Apple, calling the iPhone maker an "extraordinary business" with "indispensable" products. (With inputs from agencies)

Selling some Apple stock was a mistake, accepts Warren Buffett