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| IMF predicts long recovery |
10/8/2020 |
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“We continue to project a partial and uneven recovery in 2021,” Georgieva said in a speech previewing next week’s fall meetings of the 189-nation IMF and its sister lending agency the World Bank where the IMF will release its updated economic outlook.
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| Fed Chairman: Recovery will be slow without further stimulus |
10/8/2020 |
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Powell asserted that economic support from the government — including expanded unemployment insurance payments, direct payments to most U.S. households and financial support for small businesses — has so far prevented a recessionary “downward spiral” in which job losses would reduce spending, forcing businesses to cut even more jobs.
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| U.S. reach highest trade deficit in 14 years |
10/7/2020 |
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the gap between the goods and services the United States sells and what it buys abroad climbed 5.9% in August to $67.1 billion, highest since August 2006. Exports rose 2.2% to $171.9 billion on a surge in shipments of soybeans, but imports rose more.
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| Modern great bullion relocations |
10/6/2020 |
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The Netherlands' central bank transported its Dutch-based stock of gold — 14,000 bars and about 1,000 boxes of gold coins — from its headquarters in Amsterdam to a safe in the nearby city of Haarlem in a meticulously and closely guarded operation.
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| Microsoft seeks to build three data center sites in Greece |
10/6/2020 |
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Greece recently emerged from a years-long financial crisis but its economy has been hard hit by the pandemic, suffering a 15.2% drop in output on the year in the second quarter. Unemployment in June climbed to 18.3% from 16.4% at the start of the year.
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| WTO countries seek to prevent rich countries from hoarding virus vaccine |
10/6/2020 |
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South Africa and India have asked the World Trade Organization to waive some provisions in the international agreements that regulate intellectual property rights, to speed up efforts to prevent, treat and contain the COVID-19 pandemic and make sure developing countries are not left behind.
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| $28.8 billion airline aid bill held at congress |
10/6/2020 |
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Congress approved $25 billion in payroll aid six months ago in hopes that the travel industry might be stronger by fall. The money and an accompanying ban on layoffs expired Thursday. There is widespread support in Congress for giving the airlines another $25 billion, but the plan bogged down as congressional Democrats and the White House failed to agree on a larger pandemic-relief measure
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| Judge lifted visa ban on a large number of work permits |
10/5/2020 |
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U.S. District Judge Jeffrey White said his ruling applied to members of organizations that sued the administration — the U.S. Chamber of Commerce, National Association of Manufacturers, National Retail Federation, TechNet, a technology industry group, and Intrax Inc., which sponsors cultural exchanges.
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| Boeing to consolidate 787 assembly into South Carolina |
10/5/2020 |
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“Consolidating to a single 787 production location in South Carolina will make us more competitive and efficient, better positioning Boeing to weather these challenging times and win new business,” Stan Deal, CEO of Boeing’s commercial aircraft business, told workers in an email.
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| U.S. has lost more jobs than the 2008-2009 recession |
10/5/2020 |
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With September’s hiring gain, the economy has recovered only slightly more than half the 22 million jobs that were wiped out by the viral pandemic. Nearly 10 million jobs remain lost — more than were shed during the entire 2008-2009 Great Recession.
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| House approved bill to ban force labor produced products from China |
10/2/2020 |
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The bill would require publicly traded companies in the U.S. to disclose whether any of their goods — or any part of their supply chain — can be traced to internment camps or factories suspected of using forced labor of Muslim Uighurs or other ethnic minorities in China.
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| U.S. consumer spending up only 1% in August |
10/2/2020 |
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The Commerce Department reported Thursday that spending grew by just 1%, the weakest growth since spending fell 12.7% in April when rapidly spreading COVID-19 infections shut down large parts of the economy.
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| Airline furlough begins as relief package run out |
10/2/2020 |
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American Airlines and United Airlines say they will begin to furlough 32,000 employees after lawmakers and the White House failed to agree on a broad pandemic relief package that includes more federal aid for airlines.
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| International Space Station has an air leak |
10/1/2020 |
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The two Russians and one American on board were awakened late Monday to hurriedly seal hatches between compartments and search for the ongoing leak, which appeared to be getting worse.
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| Layoff comes to the energy sector |
10/1/2020 |
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Dutch Shell said around 1,500 employees have already agreed to take voluntary redundancy this year and that it's looking at a raft of other areas where it can cut costs, such as travel, its use of contractors and virtual working. Overall, it said it expects the cost-cutting measures to secure annual cost savings of between $2 billion and $2.5 billion by 2022.
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| NTT DoCoMo announced $38 billion deal to go private |
9/30/2020 |
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The restructuring dovetails with newly installed Prime Minister Yoshihide Suga's push for lower telecoms rates and more consumer and business-friendly services. It is expected to enable DoCoMo to offer cheaper rates in competition with rivals such as SoftBank and KDDI.
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| U.S. consumer confidence index rose sharply |
9/30/2020 |
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The Conference Board reported Tuesday that its consumer confidence index rose sharply to a reading of 101.8, up from 86.3 in August, largely due to a more favorable view on current business and labor market conditions.
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| Amazon finance manager accused of insider trading |
9/30/2020 |
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Laksha Bohra, a former manager in Amazon’s tax division who lives in Bothell, Washington; her husband, Viky Bohra; and father-in-law Gotham Bohra have agreed to pay back the stock gains, as well as another $1.2 million in penalties and interest.
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