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Coronavirus unemployment: State begins pause for jobless claims
Submitted 22 day(s) ago by system

California is partway through a deliberate pause in processing an avalanche of unemployment claims that poured into the embattled state labor agency amid coronavirus-linked business shutdowns -- and state officials disclosed on Thursday a backlog of jobless claims that is still about 1.6 million.

US jobless claims drop sharply as government changes counting method | Business | The Guardian
Submitted 50 day(s) ago by system

Claims down to 881,000 from 1m the previous week, after labor department said it was changing its statistical model to better reflect impact of Covid

China fires 'aircraft-carrier killer' missile in warning to US | News | Al Jazeera
Submitted 58 day(s) ago by system

Ballistic missiles launched in response to US aerial activities in a 'no-fly zone' area during a Chinese naval drill.

U.S. retail sales slow in July; obstacles mount for nascent economic recovery - Reuters
Submitted 70 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.

Uber Calls for a New Deal for Gig Workers | Technology News
Submitted 71 day(s) ago by system

Uber outlined proposals for a new type of relationship with gig workers, including its own drivers, that would keep them as independent contractors but with some guaranteed benefits.

China's economic recovery underwhelms as consumer comeback stays elusive - Reuters
Submitted 71 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.

Trump embraces jobs report signaling slowdown | TheHill
Submitted 77 day(s) ago by system

The White House is trying to capitalize on the latest jobs numbers, arguing they point to a strong economic recovery under President Trump even as millions remain out of work and states grapple with increases in cor

Economy suffers record-breaking GDP fall due to COVID-19 - YouTube
Submitted 85 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 ...

VIDEO: Insurance agent fired after mask meltdown at Costco | KUTV
Submitted 107 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 120 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 129 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 135 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 136 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...

Watch live: NY Gov. Andrew Cuomo holds a press conference on the coronavirus and George Floyd protests
Submitted 141 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 144 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 146 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 147 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 154 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 154 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 155 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 158 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 165 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 167 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 169 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 172 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 172 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 175 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 179 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 183 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 191 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 194 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 197 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 197 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

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