Page 26 - Us Economy
US consumer prices rise in Feb; underlying inflation muted for now
The consumer price index increased 0.4% last month after rising 0.3% in January.
 "US consumer prices rise in Feb; underlying inflation muted for now")
The recovery risks
Economic management in India will remain tricky
 "The recovery risks")
Wall Street opens higher on tepid inflation data as economy gains momentum
Major U.S. stock indexes opened higher on Wednesday after data showed underlying consumer prices remained tepid in February, easing concerns about a spike in inflation
 "Wall Street opens higher on tepid inflation data as economy gains momentum")
$1.9 trillion Biden relief package a bet government can help cure US
President Joe Biden wants America to know that he's from the government and he's here to help
 "$1.9 trillion Biden relief package a bet government can help cure US")
Undocumented Indian immigrants in US hold $15.5 billion in spending power
Undocumented Indian immigrants to the US, numbering over half a million, hold a spending power of $15.5 billion and contribute $2.8 billion to the federal, state and local tax revenue, says a report
 "Undocumented Indian immigrants in US hold $15.5 billion in spending power")
Surging yields drag indices: Sensex falls 440 pts, Nifty ends at 14,938
10-year US Treasury yield crosses 1.5% again following Powell's comments
 "Surging yields drag indices: Sensex falls 440 pts, Nifty ends at 14,938")
US job growth beats expectations in Feb amid falling new Covid-19 cases
Nonfarm payrolls surged 379,000 jobs last month after rising 166,000 in January, the Labor Department said on Friday. In December, payrolls fell for the first time in eight months
 "US job growth beats expectations in Feb amid falling new Covid-19 cases")
US Senate nears $1.9 trillion relief bill votes after half-day GOP delay
There was a half-day holdup forced by a Republican foe of President Joe Biden's top legislative priority
 "US Senate nears $1.9 trillion relief bill votes after half-day GOP delay")
Wipro stocks fall nearly 4% after signing deal to buy Capco for $1.45 bn
IT services major Wipro's shares on Friday went down nearly 4% in early trade after the firm said it has signed an agreement to acquire Capco
 "Wipro stocks fall nearly 4% after signing deal to buy Capco for $1.45 bn")
US unemployment claims tick up to 745,000 as layoffs remain high
This is a sign that many employers continue to cut jobs despite a drop in confirmed viral infections
 "US unemployment claims tick up to 745,000 as layoffs remain high")
US private payrolls rise less than expected in February, shows data
Private payrolls increased by 117,000 jobs last month, the ADP National Employment Report showed on Wednesday
Jobless aid, direct checks could get trimmed as US Senate takes up aid bill
With Republican cooperation unlikely, Democrats who narrowly control the chamber need to stick together to pass Biden's top legislative priority
An open letter to Biden on international corporate taxation
The negotiating process has, nonetheless, reached agreement that multinationals should be considered unitary businesses
Oil prices rise on Covid-19 vaccine optimism, US economic stimulus
Brent crude was up 34 cents, or 0.5%, at $64.76 a barrel by 1448 GMT, and U.S. West Texas Intermediate (WTI) crude rose 13 cents, or 0.2%, to $61.63 a barrel.
 "Oil prices rise on Covid-19 vaccine optimism, US economic stimulus")
Dow jumps 600 pts on vaccine cheer, stimulus optimism; cyclical stocks rise
US bond market rout eases; shares of cruise liner and hotel operators, and carriers including Carnival Corp, Hilton, Delta Air Lines Inc and American Airlines gained between 1.8% and 4.6%
 "Dow jumps 600 pts on vaccine cheer, stimulus optimism; cyclical stocks rise")
Biden urges Senate to quickly pass $1.9 trillion economic relief package
"If we act now - decisively, quickly, and boldly - we can finally get ahead of this virus. We can finally get our economy moving again," he said
Buffett upbeat on US, Berkshire; buys back stock even as Covid hits results
Buffett also signaled a long-term commitment to Apple Inc
 "Buffett upbeat on US, Berkshire; buys back stock even as Covid hits results")
US House passes $1.9 trillion pandemic relief bill, sends it to Senate
The House approved a $1.9 trillion relief bill in a win for President Biden, even as top Democrats tried assuring agitated progressives that they'd revive their derailed drive to boost minimum wage
US owes India $216 bn as American debt soars to $29 trillion: Lawmaker
In 2020, the US national debt was $23.4 trillion, that was $72,309 in debt per person
 "US owes India $216 bn as American debt soars to $29 trillion: Lawmaker")
Yellen supports new allocation of IMF's SDR currency to help poor nations
Yellen said an SDR allocation and steps to boost low- and zero-interest lending by the World Bank and International Monetary Fund were needed to help contain the pandemic and mitigate its devastating
 "Yellen supports new allocation of IMF's SDR currency to help poor nations")
