Page 34 - Us Economy

US economy grows 7.4 % in Sept quarter after Covid-induced plunge

The figure topped economists' estimates for a 32% increase, which was already well above forecasts three months ago for an 18% gain

Asian indices fall as coronavirus cases surge; Wall Street declines

Stock benchmarks fell in Hong Kong, Sydney and Seoul. Tokyo was flat. Shanghai recovered from early losses to edge higher

Concerns over US fiscal stimulus, Covid-19 surge roil global markets

Sensex drops 540 points; Wall Street's indices deep in the red

Coronavirus isn't going away soon, world must reset hopes for economy

For decades, the world economy relied on central bankers and finance ministers to pull it out of crisis

US presidential debate: Joe Biden says he would push for $15 minimum wage

Joe Biden says he would push for a $15-per-hour minimum wage and rejects the idea that it would hurt small businesses

Indian economy set for a near double-digit contraction this fiscal: Poll

With over 7.6 million coronavirus infections, India is the second worst hit country in the world after the United States and the spread shows no signs of abating

US economy's rebound sets up test of US Federal Reserve's new pledge

The US economy probably grew by more than 30% on an annualized basis last quarter, economists say, making up most of the 31.4% drop in the second quarter

Wall Street opens higher on hopes of Covid-19 vaccine, stimulus deal

The Dow Jones Industrial Average rose 27.24 points, or 0.10%, at the open to 28,633.55

The new orthodoxy

Developed countries may be permanently ending austerity

US elections 2020: Joe Biden vows racial and economic justice efforts

Joe Biden is promising a sweeping effort for racial and economic justice if he's elected president

America chooses

Ethnic divisions will play a major role

Asian indices decline on US stimulus package uncertainty ahead of polls

Wall Street's benchmark S&P500 had dropped 0.7 per cent on Wednesday, after Treasury Secretary Steven Mnuchin said he and congressional leaders were "far apart" on a new aid for the struggling economy

Sensex falls 1,066 points on fading US stimulus hopes, Covid-19 surge

It was the biggest single-day fall for the benchmark indices since September 24 and fifth-biggest decline in this financial year.

Covid: After two lost decades, US's weakest local economies may face worse

For 5,000 or so "distressed" zip codes it was by contrast a period of lost opportunity as they fell further behind, with the number of jobs declining even deep into the recovery

JPMorgan, Citigroup profits improve amid signs of economic recovery

Two of the nation's biggest banks JPMorgan Chase and Citigroup said Tuesday that their profits improved markedly over the summer

White House coronavirus aid offer is panned by Pelosi, Senate GOP

Pelosi said she is still hopeful that progress can be made toward a deal but it''s as clear as ever that GOP conservatives don''t want a deal on her terms

White House increases fiscal-stimulus offer to $1.8 trillion: Report

McConnell later told reporters that "even if an agreement" on stimulus is reached, his first priority is securing Senate confirmation of Trump's nominee for the Supreme Court

US Senate Majority Leader McConnell says pre-election Covid deal unlikely

The leading Republican in Congress, McConnell said he hoped lawmakers could rise above partisan jockeying to agree on "hopefully one last rescue package,

Asian markets to inch up as US economic stimulus talks restart

In energy markets, oil prices rallied on production shutdowns ahead of a storm in the US Gulf of Mexico and the possibility of supply cuts from Saudi Arabia and Norway

Wall Street closes higher as Donald Trump boosts hopes of stimulus

Two days after calling off negotiations on a comprehensive bill, Trump in an interview with Fox News said talks with Congress have restarted over further Covid-19 relief