September 24, 2020 Biz in 60 - a podcast by TRT World

US weekly jobless claims rise slightly to 870,000
Another 870-thousand Americans filed for unemployment benefits last week, marking a slight increase from the previous reading. The US Labor Department's latest figures represent the fourth consecutive week that new jobless claims have come in below the 1-million mark. But the pace of the labour market's recovery has slowed, as coronavirus cases surge in parts of the US.

TikTok asks US judge to block Trump's download ban
TikTok has asked a US federal judge to block a Trump administration order that would remove the video-sharing app from US app stores. The company says the order exceeds the Commerce Department and the president's powers under US law. Meanwhile, TikTok's Chinese owner, ByteDance, has applied for a tech export license in China, after it reached a deal with Oracle and Walmart for a stake in the app.


Westpac to pay $920M over money-laundering scandal
Australia's Westpac has agreed to pay a record 920-million- dollar fine for systematically allowing money laundering to occur occur through the bank. The country's oldest lender has also admitted it violated anti-money laundering and counter- terrorism laws on more than 23-million occasions. The scandal has already led to the ouster of the bank's chief executive and chairman.

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