Page 38 - Us Economy
Cong leaves Washington with no deal; Trump pushes for more virus relief
Both chambers of Congress have left for their August recesses and are not expected to return until September unless they strike a COVID-19 relief deal
 "Cong leaves Washington with no deal; Trump pushes for more virus relief")
US weekly jobless claims fall below 1 million for first time in 5 months
The report also showed that the four-week moving average, a method to iron out data volatility, decreased by 86,250 to 1.25 million
 "US weekly jobless claims fall below 1 million for first time in 5 months")
US budget deficit climbs to record $2.81 trillion, expected to rise further
The federal government rang up a $63 billion deficit in July, the department reported
 "US budget deficit climbs to record $2.81 trillion, expected to rise further")
US economy does not need big dose of Covid-19 stimulus: White House adviser
"The numbers are coming in very, very nicely," National Economic Council Director Larry Kudlow told Fox Business Network
 "US economy does not need big dose of Covid-19 stimulus: White House adviser")
Slowdown to continue as states announce more curbs: Fed official
Consumer spending is likely to say low relative to the past as people avoid activities that require high levels of social interaction for health reasons, Rosengren said
 "Slowdown to continue as states announce more curbs: Fed official")
Covid-19 pandemic worsens the US gender pay gap, with women losing out
In a regular recession, the pay gap between men and women shrinks by two percentage points as men tend to get hit harder by job losses
 "Covid-19 pandemic worsens the US gender pay gap, with women losing out")
Donald Trump says he is 'seriously' considering a capital gains tax cut
The president can't unilaterally cut the 20 per cent long-term capital gains rate without Congress, but some advisers tell him he could issue an executive order
 "Donald Trump says he is 'seriously' considering a capital gains tax cut")
S&P 500 inches closer to record high as coronavirus stimulus bets climb
Ultra-low interest rates, trillions of dollars in stimulus and, more recently, a better-than-feared second-quarter earnings season have allowed all three of Wall Street's main indexes to recover
 "S&P 500 inches closer to record high as coronavirus stimulus bets climb")
Covid-19 pandemic speeds up JSW Steel's US business revamp plan
JSW Steel outlined plans two years ago to invest $1 billion in the US to expand its global footprint
 "Covid-19 pandemic speeds up JSW Steel's US business revamp plan")
Oil prices rise 1% on Saudi Aramco's upbeat demand view, Iraq output cut
West Texas Intermediate crude futures rose 50 cents, or 1.2%, to $41.72 a barrel at 0301 GMT, while Brent crude futures were up 40 cents, or 0.9%, at $44.80 a barrel
 "Oil prices rise 1% on Saudi Aramco's upbeat demand view, Iraq output cut")
Covid-19 crisis: Donald Trump bypasses Congress to halt payroll tax
"Because the Trump plan taps a limited pool of existing funds to extend unemployment benefits at $400 per week, there is a high risk they run short ahead of the election," Husby said
 "Covid-19 crisis: Donald Trump bypasses Congress to halt payroll tax")
Why RBI has allowed one-time restructuring of corporate and personal loans
Like almost everywhere else, the ability of assets to earn returns in industries ranging from airlines, hotels and commercial real estate - from large firms to their small vendors - has been impaired
 "Why RBI has allowed one-time restructuring of corporate and personal loans")
US employment growth slows sharply in July amid Covid-19 pandemic
Talks have been dragging over differences on major issues, including the size of a government benefit for unemployed workers
 "US employment growth slows sharply in July amid Covid-19 pandemic")
Berkshire Hathaway shows signs of appetite ahead of earnings report
Buffett's conglomerate began putting more of its $137 billion cash pile to work after a period of relative silence during the start of the pandemic
 "Berkshire Hathaway shows signs of appetite ahead of earnings report")
How did it happen? America's unique failure to control coronavirus
How prioritising individualism, govt missteps hindered Covid-19 control in US
 "How did it happen? America's unique failure to control coronavirus")
How women, immigrants, nonwhites helped American economy boom after WW II
The hopeful truth is that when Americans band together to force open the gates of opportunity for women, for Black men, for the groups that have long been oppressed in our economy, everyone gets ahead
 "How women, immigrants, nonwhites helped American economy boom after WW II")
Wall Street opens slightly lower; markets await fresh stimulus package
The Dow Jones Industrial Average fell 30.70 points, or 0.11%, at the open to 27,170.82.
 "Wall Street opens slightly lower; markets await fresh stimulus package")
Donald Trump to sign 'Buy America' order on medicines, medical equipment
The order will include a "Buy America" provision governing federal purchases of medical supplies and equipment
Fed policymakers say pickup in infections slowing US economic recovery
The increase in infections has raised the downside risks to the economic outlook and suggests the reopening of the U.S. economy may be more protracted
 "Fed policymakers say pickup in infections slowing US economic recovery")
Wall Street gains on Disney's surprise profit, Covid-19 fiscal aid hopes
White House negotiators on Tuesday vowed to work "around the clock" with congressional Democrats to try to reach a deal on the package by the end of this week
