Page 43 - Us Economy
New wave of job cuts likely across US as Covid-19 crisis crushes economy
The Labor Department's weekly jobless claims report on Thursday is also expected to show the number of people on jobless benefits hitting a new record high in mid-May
 "New wave of job cuts likely across US as Covid-19 crisis crushes economy")
Covid-19: US Fed survey on economic revival, outlook and consumer behaviour
The sharp plunge in economic activity recounted in the US central bank's latest temperature check of business activity across its 12 districts shed light on the depth of the economic pain
 "Covid-19: US Fed survey on economic revival, outlook and consumer behaviour")
Chevron Corp sees up to 15% reduction in positions amid Covid-19 crisis
Most of the reductions will take place this year, according to an internal memo said.
 "Chevron Corp sees up to 15% reduction in positions amid Covid-19 crisis")
Wealth managers advise clients to invest in US-oriented offshore products
International funds delivered 6.8% returns in one year, against large drawdowns in domestic funds
 "Wealth managers advise clients to invest in US-oriented offshore products")
Liquidity, labour and logistics are the key challenges: JSW Steel's Rao
Ensuring return of labour as important as sending them back home, says Seshagiri Rao
 "Liquidity, labour and logistics are the key challenges: JSW Steel's Rao")
The economic crisis and India's role in post-coronavirus multilateralism
The world gross domestic product is expected to contract by 3%, international trade may decline by up to 32%, and 49 million people could slip into extreme poverty
 "The economic crisis and India's role in post-coronavirus multilateralism")
Richer in pandemic: Bezos, Musk among US billionaires whose net worth rose
The wealth surge of America's richest men happened during a period marred by the coronavirus crisis, when as many as 22 million Americans filed for unemployment benefits
 "Richer in pandemic: Bezos, Musk among US billionaires whose net worth rose")
RBI monetary policy review: Walking the extra mile
Since March 27, the RBI has acted proactively and ahead of time to contain the fallout of the Covid-19 pandemic.
 "RBI monetary policy review: Walking the extra mile")
US will not shut down in case of second Covid-19 wave, says Trump
"A permanent lockdown is not a strategy for a healthy state or a healthy country. Our country wasn't meant to be shut down," the president says
 "US will not shut down in case of second Covid-19 wave, says Trump")
Covid-19 crisis: Warren Buffett cuts crisis-era bet on Goldman Sachs
Berkshire Hathaway sold 84 per cent of its Goldman Sachs stock in the first quarter, marking a reversal for an investor who generally holds large stakes in the banking sector.
 "Covid-19 crisis: Warren Buffett cuts crisis-era bet on Goldman Sachs")
US economy to recover from Covid-19 shock by end of 2021: Fed Chief Powell
The US has expressed disappointment over China's handling of the Covid-19 which has claimed nearly 90,000 lives in America
 "US economy to recover from Covid-19 shock by end of 2021: Fed Chief Powell")
World coronavirus dispatch: The US' $3-trn incremental response to slump
From a flop technology becoming a life-saver because of Covid-19, to a thread on last 'normal' photo on your phone, and Trump planning to restore WHO funding - read these and more in today's dispatch
 "World coronavirus dispatch: The US' $3-trn incremental response to slump")
US House passes $3-trillion coronavirus relief package to revive economy
The rescue plan was approved on Friday night by a tight 208-199 margin amid opposition by Republicans
 "US House passes $3-trillion coronavirus relief package to revive economy")
Covid-19 crisis: Donald Trump may tax firms manufacturing outside US
In an interview with Fox Business News, Trump said taxation was an incentive for companies to return manufacturing bases to the US.
 "Covid-19 crisis: Donald Trump may tax firms manufacturing outside US")
Covid-19 crisis: Jerome Powell warns of lasting harm; US stocks slump
The Dow Jones Industrial Average was down 496.84 points, or 2.09 per cent, at 23,267.94, the S&P 500 was down 52.72 points, or 1.84 per cent, at 2,817.40 (at 9:37 pm IST).
 "Covid-19 crisis: Jerome Powell warns of lasting harm; US stocks slump")
Government piled up record deficit of $737.9 bn in April: US Treasury
The deficit so far for the fiscal year that began September 1 climbed to $1.48 trillion
 "Government piled up record deficit of $737.9 bn in April: US Treasury")
Tesla to reopen California factory despite county order
The electric car company told employees to report to work Friday, but a county official said Tesla did not meet the requirements for resuming production.
 "Tesla to reopen California factory despite county order")
White-collar companies race to be last to return to the office
Google, Facebook, Amazon, Capital One and others are extending work-from-home policies to September and sometimes far beyond.
 "White-collar companies race to be last to return to the office")
Why get all made up with nowhere to go?
Staying at home has caused many people to change their makeup, hair-care and skin-care routines. Companies are feeling the effects.
 "Why get all made up with nowhere to go?")
Covid-19 impact: US unemployment rate surges to 14.7%, the worst since 1948
As the US lost over 20 million jobs in a pandemic-induced economic spiral during April, its unemployment rate zoomed to nearly 15 per cent
 "Covid-19 impact: US unemployment rate surges to 14.7%, the worst since 1948")
