January 14, 2021 - Biz in 60

Business in 60 Seconds

US weekly jobless claims hit highest level since August The number of Americans filing for unemployment benefits last week surged by the most since March, as coronavirus infections continued to soar. Another 965-thousand people lodged jobless claims last week, compared to 784-thousand in the week prior. It's the highest reading since August and could put more pressure on lawmakers to introduce more pandemic relief measures. China's trade surplus hits record $78B as exports surge China's trade surplus climbed to 78-billion- dollars in December, the highest monthly figure on record. That's as coronavirus disruptions around the world continued to boost demand for Chinese goods. Exports rose 18-percent from a year ago, while imports were up 6-and- a-half percent. But its trade surplus with the US narrowed to 30-billion- dollars. South Korea court upholds sentence for ex-leader Park Geun-hye South Korea's highest court has upheld a 20-year prison sentence for former President Park Geun-hye. The country's first female leader was impeached in 2017 for bribery, extortion, abuse of power and other criminal charges. The court has also upheld fines and forfeits totaling 19-and- a-half million dollars. She has consistently denied any wrongdoing.