Page 40 - Us Economy
Federal Reserve wrestles with next moves as coronavirus stalls US economy
No major changes are likely when the Fed releases a statement Wednesday after its two-day policy meeting ends and just before Chair Jerome Powell holds a news conference.
 "Federal Reserve wrestles with next moves as coronavirus stalls US economy")
US Fed dials back recovery hopes, extends lending offers through year-end
The extensions apply to those facilities that were due to expire on or around September 30, the Fed said in a statement
 "US Fed dials back recovery hopes, extends lending offers through year-end")
US Republicans unveil coronavirus aid plan, face opposition on both sides
Senate Majority Leader Mitch McConnell calls the proposal a 'tailored and targeted' plan focused on getting children back to school and employees back to work
 "US Republicans unveil coronavirus aid plan, face opposition on both sides")
White House pushes for narrow coronavirus aid; Pelosi blasts GOP delay
Republicans argue that unemployment assistance has made many people better off financially than they were before the pandemic and were disinclined to return to their jobs therefore
 "White House pushes for narrow coronavirus aid; Pelosi blasts GOP delay")
Donald Trump may nominate his top aide Christopher Liddell to head OECD
The New Zealand-born former businessman handles policy coordination at the White House
 "Donald Trump may nominate his top aide Christopher Liddell to head OECD")
US weekly jobless claims unexpectedly rise as labour market takes step back
Initial claims for state unemployment benefits increased 109,000 to a seasonally adjusted 1.416 million for the week ended July 18.
 "US weekly jobless claims unexpectedly rise as labour market takes step back")
Walmart to spend another $428 mn on employee bonuses amid Covid-19 crisis
The United States' largest employer said the new spending brings the total expenditure on employee bonuses to $1.1 billion this year.
 "Walmart to spend another $428 mn on employee bonuses amid Covid-19 crisis")
Wall Street opens higher on upbeat corporate earnings, stimulus hopes
The Dow Jones Industrial Average rose 152.27 points, or 0.57%, at the open to 26,833.14, and the S&P 500 opened higher by 16.68 points, or 0.51%, at 3,268.52.
 "Wall Street opens higher on upbeat corporate earnings, stimulus hopes")
S&P 500 gains on promising Covid-19 vaccine data, more stimulus hopes
US drugmaker Pfizer and German biotech firm BioNTech reported additional data from their experimental Covid-19 vaccine that showed it was safe and induced an immune response in patients
 "S&P 500 gains on promising Covid-19 vaccine data, more stimulus hopes")
This is how you can get free Netflix subscription for 83 years in US
Netflix is giving a free subscription for 83 years, or 1,000 months, calling it an 'immortal' account. All you have to do is play a video game and get the highest score
 "This is how you can get free Netflix subscription for 83 years in US")
US GDP in Q2 to contract by annualised rate of 37% due to Covid-19: IMF
The longest economic expansion in US history has been derailed by the unanticipated advent of the Covid-19 pandemic
 "US GDP in Q2 to contract by annualised rate of 37% due to Covid-19: IMF")
US economy to shrink by 6.6% in 2020, faces significant risks: IMF staff
The coronavirus has infected more than 3.5 million Americans and killed nearly 140,000, both figures leading the world
 "US economy to shrink by 6.6% in 2020, faces significant risks: IMF staff")
Wall Street slips on fears of economic pain due to rising Covid-19 cases
Netflix's shares fell 7.2% after it forecast slower-than-expected subscriber growth during the third quarter and weighed the most on the S&P 500 and the Nasdaq.
 "Wall Street slips on fears of economic pain due to rising Covid-19 cases")
Wall Street opens higher as investors bet on stimulus-led economic revival
The Dow Jones Industrial Average rose 39.91 points, or 0.15%, at the open to 26,774.62.
China rebounds from coronavirus crisis, economy grows 3.2% in Q2
However, Shanghai Composite slips 4.5% over policy tightening, foreign selling
 "China rebounds from coronavirus crisis, economy grows 3.2% in Q2")
Morgan Stanley posts record profit on trading boom amid Covid-19 crisis
Trading powerhouses Morgan Stanley and Goldman Sachs performed better than Main Street rivals JPMorgan Chase, Bank of America and Citigroup
 "Morgan Stanley posts record profit on trading boom amid Covid-19 crisis")
US June retail sales up 7.5% but Covid-19 dashes hopes of economic recovery
The Census Bureau reported Thursday that retail sales are 1.1% higher than their levels from a year ago
 "US June retail sales up 7.5% but Covid-19 dashes hopes of economic recovery")
Fed survey says economic activity has picked up but outlook remains cloudy
And the report said that business contacts in the Fed's 12 regions remained wary about the future
 "Fed survey says economic activity has picked up but outlook remains cloudy")
Goldman Sachs revenue from trading stocks and bonds surges 93%
Revenue from trading stocks and bonds surged 93 per cent, surpassing what analysts had expected
 "Goldman Sachs revenue from trading stocks and bonds surges 93%")
US industrial output surges in June, but still below pre-Covid levels
The June performance was better than economists had forecasts and reflected the reopening of many parts of the US economy after lockdowns in the spring
 "US industrial output surges in June, but still below pre-Covid levels")
