Page 44 - Us Economy

Coronavirus pandemic ravages US payrolls, April job losses top 20 million

The Labor Department's closely watched monthly employment report on Friday also showed the unemployment rate surging to 14.7% last month, shattering the post-World War Two record of 10.8%

Coronavirus task force to stay for now, new members will be added: Trump

Two of its top health officials, Dr Anthony Fauci and Dr Deborah Birx, would continue to be members of the task force, Trump told reporters

Trump admin begins talks on winding down Covid-19 taskforce: V-P Pence

The White House has already begun to talk about a transition plan with the Federal Emergency Management Agency

Donald Trump to replace Covid-19 taskforce with economy reopening group

The Task Force headed by Pence has focused its efforts on healthcare issues and has been effectively guiding the United States since the beginning of the novel coronavirus

Covid-19: New York governor Cuomo outlines 'phased reopening' of businesses

Cuomo says construction, manufacturing and select retail shops could open in a first phase of reopening

Coronavirus cannot stop America or Berkshire Hathaway, says Warren Buffett

Buffett said operating earnings will, through at least this year, be "considerably less" than they would have been had the pandemic not occurred

Amidst the gloom and doom, the market's exuberance is confounding

For the sake of context, the financial crisis of 2008 had seen the S&P 500 fall by more than 50 per cent from its peak

For Fed Chair Powell, March was intense as response to Covid-19 intensified

Though the calendar gives no details on what was discussed, it suggests an explosion of activity at the US central bank unseen since the darkest days of the 2007-2008 financial crisis

From seeking govt aid to snubbing it, what changed for Boeing in 6 weeks?

Boeing had lobbied extensively for aid and called for at least $60 billion in government loans for the entire aerospace manufacturing sector

Covid-19 impact: US personal spending plunged 7.5% in March amid shutdowns

Personal income decreased 2.0 per cent in the month, according to estimates released on Thursday by the Department's Bureau of Economic Analysis

30 million have sought US unemployment aid since coronavirus hit

Economists forecast that the unemployment rate for April could go as high as 20 per cent.

Won't extend social distancing guidelines, may hold rallies soon: Trump

Trump says he plans to resume out-of-state travel after spending more than a month mostly cooped up in the White House

Federal Reserve leaves rates near zero, sees coronavirus risks lingering

US stock markets pared some of the day's strong gains after the release of the statement

US GDP shrinks 4.8% in first quarter as pandemic decimates economy

It was the sharpest fall since the economy shrank at an 8.4 per centt annual rate in the fourth quarter of 2008 in the depths of the Great Recession

US Federal Reserve likely to renew vow to use all tools to support economy

The statement could reflect a sharp downgrade in the Fed's assessment of the job market, household spending, and energy markets

Trump immigration order to last 30-90 days, apply to permanent immigrants

Other workers such as those on so-called H1-B visas would be covered in a separate action

Ford issues $8 bn debt securities after coronavirus causes $2 bn loss

The Dearborn, Michigan-based company, which lost its investment-grade status in March, raised new funds with a three-part debt offering, according to a regulatory filing.

US announces $19 bn coronavirus aid for farmers, food buys for poor

The US Agriculture Department is partnering with regional and local distributors to purchase $3 billion in such farm goods to be distributed to food banks, churches and aid groups

Bharat Ramamurti to oversee how US govt handles $500 bn in bailout funds

This month, the Fed announced it was offering up to $2.3 trillion initially through five different lending facilities

RBI measures, global markets surge propel Sensex, Nifty to one month high

Most global markets surged as investor appetite for risk assets improved due to the progress of an experimental drug for treating covid-19 and on US's plan to reopen its economy.