February 25, 2021 Biz in 60

Business in 60 Seconds

US weekly unemployment claims fall sharply to 730,000 The number of Americans filing for unemployment benefits fell more than expected amid an easing of COVID-19 infections. Another 730-thousand people lodged jobless claims last week, compared with 841-thousand in the week prior. But the number is still well above the 665-thousand peak recorded during global financial crisis more than a decade ago. Qantas shares rise despite $820M loss in first half Qantas Airways swung to an 820 million dollar first-half underlying loss, compared with a 615 million dollar profit a year ago. Earnings were hit by strict quarantine restrictions and limits on travel due to the pandemic. But the Australian carrier has laid out a plan to resume most international flights from October, sending its shares up as much as 5 percent. Netflix to spend $500M in South Korea this year Netflix is planning to spend half-a-billion dollars on original movies and television shows in South Korea this year. Since entering the country in 2016, the US streaming giant has already invested 700 million dollars to expand its slate of Korean content. Netflix said it had 3-point-8 million paid subscribers in South Korea as of the end of last year.