Hello, I'm Neil Nunes with the BBC News. US stocks fell on Thursday, but rose sharply over April as a whole, driven by expectations that the economy will soon start to recover from coronavirus restrictions. Analysts say the latest gloomy data on unemployment and consumer spending indicate the recovery will be much slower than the Wall Street figures suggest. Michelle Fleury reports. The latest economic data out of the United States is terrible. Millions more Americans filed for unemployment benefits, bringing the total since the pandemic started to about 30 million. The grim news weighed on stocks. The three major US indexes ended the trading day in the red, but the losses were relatively small for what has otherwise been a stellar month for Wall Street. So why is the market doing well even as the economy craters?
Investors are looking past the dismal economic news and focusing on rescue efforts in Washington, hopes for a vaccine or treatment for the coronavirus and a gradual reopening of the country.
Amazon says its profits for the first three months of this year plunged by 29% compared to 2019. This is despite a surge in revenue driven in part by people's inability to get out of their homes during the coronavirus pandemic. Zoe Thomas has more. Amazon's profits fell sharply, dropping 30% from this time last year. That's because Amazon is spending a lot to keep operations going during the coronavirus pandemic. It's hired 175, 000 new workers and temporarily raised their salaries. Its spending on cleaning and protective gear and its shipping costs have gone up. Amazon told investors it expects to spend even more next quarter on COVID-19 related expenses, saying its operating profits for the next three months would go to those costs.
Scientists have identified the highest levels of microplastics ever recorded on the seafloor. In samples from the bottom of the Mediterranean, researchers counted up to 1.9 million tiny pieces of plastic per square meter in mud from the Tyrrhenian Basin, west of Italy.
The Nigerian drummer Tony Allen, who helped his compatriot Fela Kuti create afrobeat, has died suddenly at the age of 79. Allen took up the drums as a teenager and learned his trade in clubs, playing a myriad of musical styles. When he teamed up with Kuti, the pair melded west African music with American Jazz and funk to build afrobeat and produced a series of classic albums. He's been called the greatest drummer ever. BBC news.