Page 23 - Us Economy
Joe Biden to propose tax hikes, $80 billion for audits of the rich
The measures will be key elements to offset the cost of Biden's "American Families Plan" that he's set to unveil in a speech to Congress
 "Joe Biden to propose tax hikes, $80 billion for audits of the rich")
As US capital gains tax hike looms, wealthy seek ways to soften the blow
Wealthy Americans have deluged their advisers and accountants with calls for advice on how to avoid being caught by the potential increase.
 "As US capital gains tax hike looms, wealthy seek ways to soften the blow")
Fewer waiters, more scientists if pandemic job trends stick, US study shows
Air travel is still stuck at roughly 60%
 "Fewer waiters, more scientists if pandemic job trends stick, US study shows")
US Fed's 'maximum employment' push may fall short in post-pandemic economy
The Fed is not expected to change its policy guidance after its two-day meeting this week
 "US Fed's 'maximum employment' push may fall short in post-pandemic economy")
Joe Biden eyes tax rate as high as 43.4% in upcoming economic plan
The White House plans to propose almost doubling the capital gains tax rate for those earning $1 million or more, to 39.6%
 "Joe Biden eyes tax rate as high as 43.4% in upcoming economic plan")
World stocks at record high, oil up on strong China, United States data
U.S. stock futures pointed to a slightly lower open
 "World stocks at record high, oil up on strong China, United States data")
US retail sales post largest gain in 10 months; weekly jobless claims fall
Retail sales rebounded 9.8% last month, the largest increase since May 2020, the Commerce Department said
 "US retail sales post largest gain in 10 months; weekly jobless claims fall")
Higher rates offset by positive US spillovers: IMF chief economist Gopinath
She told a Peterson Institute for International Economics event that the better outlook is increasing demand for exports from many countries
 "Higher rates offset by positive US spillovers: IMF chief economist Gopinath")
US budget deficit jumps to an all-time high of $1.7 trillion this year
The US government's budget deficit surged to an all-time high of USD 1.7 trillion for the first six months of this budget year, nearly double the previous record
 "US budget deficit jumps to an all-time high of $1.7 trillion this year")
Biden's budget fuels health, education spending in sharp change from Trump
Biden would increase spending by $14 billion across agencies to deal with the effects of greenhouse gas emissions, a shift from the Trump administration's dismissal of climate science
 "Biden's budget fuels health, education spending in sharp change from Trump")
Gold hits three-week peak as Fed's dovish tone pressures dollar, yields
(Reuters) - Gold scaled a three-week peak on Thursday after minutes from the Federal Reserve's latest policy meeting reassured investors that interest rates will remain low for some time, pushing the dollar and U.S. yields lower.
 "Gold hits three-week peak as Fed's dovish tone pressures dollar, yields")
US jobless claims jump to 744,000 as Covid-19 still forces layoffs
Initial claims in regular state programs increased by 16,000 to 744,000 in the week ended April 3, Labor Department data showed Thursday. Economists in a Bloomberg survey estimated 680,000 claims
 "US jobless claims jump to 744,000 as Covid-19 still forces layoffs")
Fed expects to keep supporting economy 'for some time,' minutes show
The median Fed policymaker projection for economic growth in 2021 was increased from 4.2% as of December to 6.5%, which would if achieved be the fastest rate of expansion since 1984
 "Fed expects to keep supporting economy 'for some time,' minutes show")
US job openings jump to two-year high in boost to labour market
WASHINGTON (Reuters) - U.S. job openings rose to a two-year high in February while hiring picked up as strengthening domestic demand amid increased COVID-19 vaccinations and additional pandemic aid from the government boost companies' needs for more workers.
 "US job openings jump to two-year high in boost to labour market")
Biden says no evidence higher corporation taxes will drive companies abroad
President Joe Biden defended his proposal to raise corporate taxes to help pay for his infrastructure spending plans
 "Biden says no evidence higher corporation taxes will drive companies abroad")
S&P 500, Dow at all-time highs after strong jobs data; Nasdaq rises 110 pts
Ten of the 11 major S&P sectors rose, with consumer discretionary, industrials, financials and communication services leading gains
 "S&P 500, Dow at all-time highs after strong jobs data; Nasdaq rises 110 pts")
Covid-19 vaccines, fiscal stimulus power US employment; economy blooming
WASHINGTON (Reuters) - The U.S. economy created the most jobs in seven months in March as more Americans got vaccinated and the government doled out additional pandemic relief money, marking the start of what could be the strongest economic performance this year in nearly four decades.
 "Covid-19 vaccines, fiscal stimulus power US employment; economy blooming")
In US, dozens of big and profitable companies pay no federal taxes
A provision in the 2017 tax bill allowed businesses to immediately write off the cost of any new equipment and machinery.
 "In US, dozens of big and profitable companies pay no federal taxes")
US manufacturing sector sees robust growth in March, highest since 1983
The US manufacturing sector saw robust growth in March, marking the highest reading since December 1983, the Institute for Supply Management (ISM) reported Thursday
 "US manufacturing sector sees robust growth in March, highest since 1983")
Stock markets start new fiscal on a high, Sensex reclaims 50,000-level
IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Sun Pharma, Bajaj Finance, and UltraTech Cement were prominent gainers
 "Stock markets start new fiscal on a high, Sensex reclaims 50,000-level")
