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Economic News (50)

Pope Francis says coronavirus pandemic has further exposed capitalism’s flaws - MarketWatch

www.marketwatch.com
Submitted 17 day(s) ago by system

Belief in markets as all but infallible has been exposed as a ‘magic theory,’ the pontiff argues in ‘Brothers All’ encyclical issued on feast day of St....

UK risks new lockdown as COVID cases hit highest since May | Reuters

www.reuters.com
Submitted 32 day(s) ago by system

Britain is likely to need to reintroduce some national coronavirus lockdown measures sooner rather than later, a leading epidemiologist said on Saturday, as new cases rose to their highest level since early May.

U.S. 'won't cede an inch' in Pacific, Esper says in swipe at China - Reuters

www.reuters.com
Submitted 56 day(s) ago by system

The United States has a responsibility to lead in the Pacific and "won't cede an inch" to other countries that think their political system is better, U.S. Defense Secretary Mark Esper said on Wednesday in a thinly-veiled swipe at China.

U.S. retail sales slow in July; obstacles mount for nascent economic recovery - Reuters

www.reuters.com
Submitted 68 day(s) ago by system

U.S. retail sales increased less than expected in July as consumers cut back on purchases of motor vehicles, and could slow further in the months ahead amid spiraling new COVID-19 infections and a reduction in unemployment benefit checks.

China's economic recovery underwhelms as consumer comeback stays elusive - Reuters

www.reuters.com
Submitted 69 day(s) ago by system

China's retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world's second-largest economy failed to shake off wariness about the coronavirus, while the factory sector's recovery struggled to pick up pace.

Morocco shuts down major cities after spike in coronavirus cases - Reuters

www.reuters.com
Submitted 87 day(s) ago by system

Morocco will stop people entering and leaving some of its biggest cities from midnight to contain a surge in COVID-19 cases, the interior and health Ministries said on Sunday.

China slams U.S. sanctions related to Hong Kong as 'gangster logic' - Reuters

www.reuters.com
Submitted 98 day(s) ago by system

China accused the United States of "gangster logic" on Wednesday after U.S. President Donald Trump ordered an end to Hong Kong's special status under U.S. law in response to Beijing's imposition of new security legislation on the territory.

China to Impose Retaliatory Sanctions on GOP Senators Over Xinjiang Penalties - WSJ

www.wsj.com
Submitted 100 day(s) ago by system

China’s Foreign Ministry said it planned to impose corresponding sanctions on several senior GOP figures in retaliation for sanctions the Trump administration imposed last week on senior Chinese officials accused of carrying out human-rights abuses in the Xinjiang region.

Australia closes state border for first time in 100 years after COVID-19 spike - Reuters

www.reuters.com
Submitted 108 day(s) ago by system

The border between Australia's two most populous states will close from Tuesday for an indefinite period as authorities scramble to contain an outbreak of the coronavirus in the city of Melbourne.

Croatia's ruling HDZ set to win parliamentary vote: exit poll - Reuters

www.reuters.com
Submitted 108 day(s) ago by system

Croatia's ruling centre-right Croatian Democratic Union (HDZ) is set to win a parliamentary election on Sunday, held at a time of rising coronavirus infections and a sharp economic downturn due to the pandemic, a state television exit poll showed.

Fed’s Kaplan Says Systemic Racism Holding Economy Back - WSJ

www.wsj.com
Submitted 129 day(s) ago by system

‘A more inclusive economy where everyone has opportunity will mean faster workforce growth, faster productivity growth, and we’ll grow faster,’ the Dallas Fed president said.

The OECD warns a second virus wave is as likely as not — here’s what that would do to the economic recovery - MarketWatch

www.marketwatch.com
Submitted 134 day(s) ago by system

The Paris-based economics group says it is just as likely a second wave will ravage the global economy as not.

New Zealand says coronavirus 'eliminated' and life can resume without restrictions - Reuters

www.reuters.com
Submitted 136 day(s) ago by system

New Zealand has eliminated transmission of the coronavirus domestically and will lift all containment measures except for border controls, Prime Minister Jacinda Ardern said on Monday, making it one of the first countries to do so.

COVID-19 crisis shakes Brazil, but Bolsonaro keeps impeachment at bay - Reuters

www.reuters.com
Submitted 139 day(s) ago by system

One of the world's worst coronavirus outbreaks, a paralyzed economy sending investors fleeing for the exit, and accusations that he has undermined Brazil's young democracy have not loosened President Jair Bolsonaro's grip on power.

U.S. Businesses Brace for Damage as Tensions Grow Over Hong Kong - WSJ

www.wsj.com
Submitted 143 day(s) ago by system

Rising tensions between the U.S. and China over Hong Kong have American businesses caught in the crossfire amid a fight that they fear could disrupt their operations and that casts doubt over their long-term future in the city.

China's May factory activity cools as weak demand curbs output - Reuters

www.reuters.com
Submitted 144 day(s) ago by system

China's factory activity grew at a slower pace in May but momentum in the services and construction sectors quickened, pointing to an uneven recovery in the world's second-largest economy as businesses emerge from coronavirus-led shutdowns.

U.S. consumer spending tanks; savings hit record high - Reuters

www.reuters.com
Submitted 146 day(s) ago by system

U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the economy could take years to recover from the COVID-19 pandemic.

European Union Plans $2 Trillion Coronavirus Response Effort - WSJ

www.wsj.com
Submitted 148 day(s) ago by system

The bloc proposed an $824 billion recovery plan and a $1.2 trillion budget over the next seven years, which, if approved, would deepen its economic union in a way that even the eurozone debt crisis failed to achieve.

India's coronavirus infections surpass China, but contagion slowing - Reuters

www.reuters.com
Submitted 159 day(s) ago by system

India's total novel coronavirus cases rose to 85,940 on Saturday, taking it past China, where the pandemic originated last year, though a strict lockdown enforced since late March has reduced the rate of contagion.

Great Depression-like U.S. job losses, unemployment rate expected in April - Reuters

www.reuters.com
Submitted 167 day(s) ago by system

The U.S. economy likely lost a staggering 22 million jobs in April, in what would be the steepest plunge in payrolls since the Great Depression and the starkest sign yet of how the novel coronavirus pandemic is battering the world's biggest economy.

Some countries tiptoe out of lockdowns, but UK sits tight - Reuters

www.reuters.com
Submitted 176 day(s) ago by system

Countries from Italy to New Zealand have announced the easing of coronavirus lockdowns but British Prime Minister Boris Johnson, back at work on Monday after being in intensive care with COVID-19, said it was too soon to relax the restrictions.

Fed expands municipal debt purchase plan to allow smaller counties and cities to participate - MarketWatch

www.marketwatch.com
Submitted 177 day(s) ago by system

The Federal Reserve on Monday said it expanded the scope of its municipal debt purchase program to include more counties and cities.

'Air on your face': Spanish children get outside for first time in six weeks - Reuters

www.reuters.com
Submitted 179 day(s) ago by system

On foot and with bicycles, skateboards and scooters, Spanish children went outside at last on Sunday, emerging from their homes for the first time after six weeks of living under one of Europe's strictest coronavirus lockdowns.

UK at 'dangerous' stage, no lockdown exit strategy in sight - Reuters

www.reuters.com
Submitted 179 day(s) ago by system

Britain's stand-in leader resisted pressure on Sunday to explain how the government plans to ease a coronavirus lockdown that has been in place for a month, warning that hasty action could result in a second peak of infections.

Italy's daily coronavirus death toll lowest since April 12 - Reuters

www.reuters.com
Submitted 186 day(s) ago by system

Deaths from the COVID-19 epidemic in Italy rose by 482 on Saturday, the lowest daily increase since April 12, while the number of new cases was stable at 3,491, the Civil Protection Agency said.

China reports fewer coronavirus cases but infections from Russia a worry - Reuters

www.reuters.com
Submitted 190 day(s) ago by system

China reported on Wednesday a decline in new confirmed cases of the coronavirus in the mainland, although an increasing number of local transmissions in its far northeast bordering Russia remained a concern for authorities.

U.S. weekly jobless claims seen hovering near record highs - Reuters

www.reuters.com
Submitted 196 day(s) ago by system

The number of Americans seeking unemployment benefits in the last three weeks likely totaled a staggering 15 million as tough measures to control the novel coronavirus outbreak abruptly ground the country to halt, which would cement views the economy was in deep recession.

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