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Economy (50)

Economy suffers record-breaking GDP fall due to COVID-19 - YouTube
Submitted 6 day(s) ago by system

ABC News’ Rebecca Jarvis explains the significance of the U.S. economy’s 32.9% drop last quarter. ABC News Live Prime, Weekdays at 7EST & 9EST WATCH the ABC ...

Russia's economy contracts more slowly in June
Submitted 19 day(s) ago by kennadi0,80777,0,posty,0,baltimorecultureNETFLIX.html

VIDEO: Insurance agent fired after mask meltdown at Costco | KUTV
Submitted 28 day(s) ago by system

A Florida man has been fired from his job as an insurance agent after his videotaped tirade when asked to wear a face mask at a Costco Wholesale store drew a massive audience on social media. The video posted Monday on Twitter shows a man wearing flip-flops and a red T-shirt emblazoned with "Running the world since 1776" shouting in the store after reportedly being asked why he was not wearing a face covering, as required at all Costco locations.

Fed suspends share buybacks and limits dividends for big banks after stress test results | Markets Insider
Submitted 41 day(s) ago by system

The Federal Reserve on Thursday imposed new restrictions on the US banking system after its annual stress test showed that some banks may approa...

Coronavirus: Chinese firm says its vaccine candidate passes phase two clinical trials | South China Morning Post
Submitted 50 day(s) ago by system

China National Biotec Group (CNBG) says tests show its vaccine is safe, and now looks to clinical trials overseas; China has five vaccines under clinical study, with Sinovac Biotech’s candidate also completing a phase two trial.

Submitted 56 day(s) ago by system

Federal Reserve Chairman Jerome Powell said he believes millions of people will not ‘get to go back to their old job’ and ‘there may not be a job in that ind...

Hedge funds in Hong Kong are considering pulling out over fears that China's new security law could ruin their operations | Markets Insider
Submitted 57 day(s) ago by system

Hedge funds in Hong Kong are exploring exit strategies from Asia's financial hub as Beijing's new security law threatens data privacy and capita...

Additional 1.88 Million People File For Unemployment, Matching Expectations | Morning Joe | MSNBC - YouTube
Submitted 62 day(s) ago by system

1.88 million more Americans filed initial unemployment claims last week due to the coronavirus pandemic, which was in line with expectations showing a downward trend in jobless claims. Aired on 06/04/2020. » Subscribe to MSNBC: MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rachel Maddow Show, Morning Joe, Meet the Press Daily, The Beat with Ari Melber, Deadline: White House with Nicolle Wallace, Hardball, All In, Last Word, 11th Hour, and more. Connect with MSNBC Online Visit Subscribe to MSNBC Newsletter: Find MSNBC on Facebook: Follow MSNBC on Twitter: Follow MSNBC on Instagram: Additional 1.88 Million People File For Unemployment, Matching Expectations | Morning Joe | MSNBC

Watch live: NY Gov. Andrew Cuomo holds a press conference on the coronavirus and George Floyd protests
Submitted 62 day(s) ago by system

"I know a lot of the protesters are so annoyed they don't want to hear about Covid anymore," Cuomo said on Tuesday. "Covid is yesterday's news.' No, Covid is still a problem. Covid still kills also, so be mindful and respectful of that."

U.S. manufacturing activity crawls off 11-year low - Reuters
Submitted 65 day(s) ago by system

U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.

China's May factory activity cools as weak demand curbs output - Reuters
Submitted 67 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
Submitted 68 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.

Coronavirus crisis: govt borrowing hits record level - BBC News - YouTube
Submitted 75 day(s) ago by system

Government borrowing has surged to its highest level on record, underlining the scale of the economic damage caused by the coronavirus pandemic. The deficit, the difference between government spending and tax receipts, soared to more than £62 billion in April, due to the level of financial support provided by the Treasury, to help businesses and employees through the crisis. The hole in the government finances wasn't helped by a big drop in retail sales. They plummeted by a record amount in April, as many high street stores closed in the coronavirus lockdown. Clothing sales were hit hardest, down more than 50 per cent, although online spending online rose. The company which owns the coach firm Shearings has gone into administration. The Specialist Leisure Group, which is based in Wigan and employs more than 2,500 people also runs the brands UK Breakaways, Caledonian Travel and Country Living Hotels. Clive Myrie presents BBC News at Ten reports from Economics Editor Faisal Islam, Business Correspondent Emma Simpson and Judith Moritz in Wigan. Please subscribe HERE

Businesses 'will have to pay a fifth of furloughed workers' wages'
Submitted 75 day(s) ago by system

Chancellor is expected to start asking companies to share the cost of the scheme which will run until October

China will not set an economic growth target amid 'great uncertainty' - CNN
Submitted 76 day(s) ago by system

China will not set a specific target for economic growth this year — a sign of how much uncertainty the coronavirus pandemic has caused the world's second largest economy.

UK farming and car industry to be protected in post-Brexit trade regime | Business | The Guardian
Submitted 79 day(s) ago by system

Government sets out plan to cut tariffs, with many import duties to be reduced to zero

White House economic adviser Kevin Hassett expects unemployment rate to climb past 20% - CBS News
Submitted 86 day(s) ago by system

Kevin Hassett predicted that the unemployment rate will likely reach its peak in May or June.

Nine in ten Brits 'don't want UK lockdown lifted' amid coronavirus fears - Mirror Online
Submitted 88 day(s) ago by system

An overwhelming majority of Brits are scared of a second wave of coronavirus and do not want Boris Johnson to lift the lockdown yet - despite concern for their jobs - a Deltapoll survey has found

Great Depression-like U.S. job losses, unemployment rate expected in April - Reuters
Submitted 90 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.

Strict social distancing measures 'to be in place for a year' after lockdown is lifted - Mirror Online
Submitted 93 day(s) ago by system

An industry insider has revealed Government guidelines to allow safe return to work for seven key sectors could be in place for a year due to fears the virus is seasonal

Citing 'vein of toxicity' and firing of whistleblowers, Amazon VP resigns in disgust - GOOD
Submitted 93 day(s) ago by system

"This is a really big deal. This kind of courage is what we need right now, in every workplace and walk of life."

Global markets recoil as Trump threatens US-China trade war | Business | The Guardian
Submitted 96 day(s) ago by system

US president escalates attack on Beijing’s handling of coronavirus pandemic

Several states ease coronavirus mitigation despite warnings - YouTube
Submitted 100 day(s) ago by system

A rising number of states will start to reopen this week, despite the risk people will get sick from the coronavirus. In California, people crowded beaches over the weekend, even though a stay-at-home order is still in place. In Georgia, some businesses are now open to customers, after a controversial decision by the state's governor. Mark Strassmann reports on the state of lockdowns across the country.

Oil bounces after Trump uses the 'oldest Middle East oil trick in the book' to kickstart prices
Submitted 104 day(s) ago by system

Oil prices gained ground on Thursday after US President Donald Trump issued a bellicose tweet leading to supply fears in the key oil producing r...

Trump's big show of opening the economy will hide the real story - CNNPolitics
Submitted 112 day(s) ago by system

President Donald Trump's make America open again campaign will deliver exactly what he wants Thursday -- a victory lap over the coronavirus pandemic that leaves the life and death decisions to others.

Small businesses starting to get SBA loan approvals | WRGB
Submitted 115 day(s) ago by system

We have been talking about those small business loans. There has been frustration has many have been applying and banks were not prepared or overwhelmed. But we are hearing some applications started getting approved Friday. Now the SBA is officially starting to accept applications for the Paycheck Protection Plan Loan from independent contractors and sole proprietors.

The Curve: Cramer's 'Mad Money' Recap (Thursday 4/9/20) - TheStreet
Submitted 118 day(s) ago by system

Jim Cramer says Americans are flattening the Covid-19 curve, while the Fed and Treasury are getting ahead of the economic curve.

6.6 million Americans file for unemployment l ABC News - YouTube
Submitted 118 day(s) ago by system

Over 16 million people have filed for unemployment over the last three weeks as many businesses shut down due to COVID-19. #ABCNews #BreakingNews #Covid19 #JoblessClaims #Unemlployment #UnemploymentClaims #JobsReport #Economy

Coronavirus: State scrambles to issue extra $600 jobless payments
Submitted 120 day(s) ago by system

More than 2 million Californians have recently filed for jobless benefits, Gov. Gavin Newsom said Tuesday, and state officials are scrambling to get newly out-of-work residents the larger unemployment benefits enabled by the federal CARES Act to ease coronavirus-spawned economic devastation.

U.S. Jobs Report Likely to Show Start of Record Labor-Market Collapse - WSJ
Submitted 125 day(s) ago by system

The March jobs report is expected to show the start of a collapse that this spring could shed all the U.S. jobs added by employers in the past decade and push the unemployment rate to record highs.

Coronavirus deaths rising fast in Europe and US - BBC News - YouTube
Submitted 129 day(s) ago by system

Coronavirus is claiming more lives across Europe and in the United States. Italy is seeing the fastest rise in deaths since the beginning of the outbreak, almost 1,000 in the last 24 hours. Spain also faces a rising number of deaths and critically ill patients. In the US President Trump has authorised a two-trillion dollar emergency package in an attempt to protect the economy. Millions of Americans have lost their jobs. Sophie Raworth presents BBC News at Ten reports from Mark Lowen in Rome, Damian Grammaticas in Madrid and Nick Bryant in New York. Please subscribe HERE

3.3 Million Unemployment Claims Are Likely the 'Tip of the Iceberg'
Submitted 132 day(s) ago by system

According to the Department of Labor, 3.3 million Americans—roughly the population of Utah—have filed for unemployment insurance since last week. Huge doesn’t even begin to capture the scale of mass job loss, and yet there’s every reason to believe the reality is even worse.

5 things to know for March 26: Coronavirus, economy, Dems, cruise, Great Barrier Reef - CNN
Submitted 133 day(s) ago by system

Here's what else you need to know to Get Up to Speed and Out the Door.

House and Senate leaders plot quick passage of economic relief bill, with a possible fix
Submitted 133 day(s) ago by system

Bipartisan leaders in the House and Senate said they hoped to pass a $2 trillion emergency relief package quickly, but they must first convince rank-and-file lawmakers to support it.

Liz Cheney: 'There will be no normally functioning economy if our hospitals are overwhelmed' - CNNPolitics
Submitted 134 day(s) ago by system

Rep. Liz Cheney, the No. 3 House Republican, said on Tuesday that the US must address its health care crisis in order to restore the economy, as some of President Donald Trump's allies push to reopen the country despite the threat of the coronavirus pandemic.

Walmart to hire 150,000 temp workers as consumers stock up - CBS News
Submitted 138 day(s) ago by system

Retailer also offering cash bonuses to hourly workers, saying that "many people could use more cash" right now.

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