Economy

Donald Trump outlines the three major steps for reopening United States economy

Donald Trump outlines the three major steps for reopening United States economy

Employers should continue encouraging telework. Under Phase Two , non-essential travel can resume, schools can reopen, large venues can operate under "moderate" physical distancing protocols, gyms ...

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IEA forecasts huge drop in oil demand in 2020

IEA forecasts huge drop in oil demand in 2020

But the OPEC+ alliance of major producers, led by Riyadh and Moscow, agreed Sunday to slash daily production by 9.7 million bpd over the next two months. However, a few surprises were seen in the repo...

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India cuts deposit rate and infuses $7bn into financial system

India cuts deposit rate and infuses $7bn into financial system

The cut in reverse repo rate is to encourage banks to lend more, said RBI Governor Shaktikanta Das . "This will comprise Rs 25,000 crore to Nabard for refinancing regional rural banks, cooperativ...

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Early signs are encouraging for potential coronavirus drug

Early signs are encouraging for potential coronavirus drug

The video reportedly shows infectious disease specialist Dr. Kathleen Mullane discussing encouraging early results from the trial with colleagues at the university earlier in the week. "Nonetheless, t...

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Coronavirus: Weekly jobless claims hit 5.2 million

New unemployment claims in Missouri dipped from 104,230 for the week ending March 28 to 91,049 for the week ending April 4, but those 195,279 new claims are more than all of past year, when the state ...

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Midwest governors including Gov. Evers work to reopen region's economy

Midwest governors including Gov. Evers work to reopen region's economy

Here in the Midwest, we are bound by our commitment to our people and the community. Tony Evers announced that they are working together to eventually reopen the region's economy, as the coronaviru...

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Stock markets plunge after World Health Organization declares pandemic

USA markets closed sharply down again with the Dow Jones industrial average falling 1,300 points Wednesday, off 20% from highs set a month ago, the first such drop since the 2008 financial crisis . T...

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Dow spikes more than 1,000 points on hopes of coronavirus economic relief

Markets have also been slammed this week by a plunge in oil prices, after oil exporters said they would increase output rather than make coordinated cuts. In Europe markets trade higher as Britain's ...

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French economy to shrink by 8% in 2020, government estimates

French economy to shrink by 8% in 2020, government estimates

The extension would put additional strain on public finances, blowing the public sector budget deficit out to a post-war record of 9 per cent of GDP, up from 7.6 per cent last week, budget minister Ge...

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Coronavirus impact: USA weekly jobless claims top 5.2 million in latest week

Coronavirus impact: USA weekly jobless claims top 5.2 million in latest week

Labor Department stated on Thursday. Thursday's claims report also showed the number of people continuing to receive benefits after an initial week of aid surged 4.530 million to a record 11.976 mil...

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New IRS website allows tracking of coronavirus stimulus payment

New IRS website allows tracking of coronavirus stimulus payment

The US$2. 2 trillion stimulus package signed into law last month allocates US$1,200 to every adult earning as much as US$75,000 and US$500 for each of their children. A new IRS webpage lets users c...

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Insurers told to speed up virus payouts

It comes as a raft of insurance firms are facing legal action after declining payouts for business interruption claims, despite stating that they would cover firms forced to shut due to a notifiable d...

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Programmers Claim Amazon Fired Them for Criticizing of Warehouse Conditions

Programmers Claim Amazon Fired Them for Criticizing of Warehouse Conditions

US senators, labor leaders and some of Amazon's own workers have expressed concern that the company hasn't been doing enough to keep employees safe as Covid-19 cases pop up in dozens of facilities in ...

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For Some, Stimulus Checks Are

For Some, Stimulus Checks Are "Now You See It, Now You Don't"

The IRS projects the payments for this group will go out no later than early May. If the IRS doesn't yet have the 2019 return, it looks at the adjusted gross income on the 2018 tax return to det...

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Google tells all North America staff to work from home

Google tells all North America staff to work from home

Most of the big companies have so far limited the work-from-home option to specific regions in the United States. The company's move was announced firstly via an internal memo that recommended its...

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OPEC cuts oil demand view again as market faces 'historic shock'

OPEC cuts oil demand view again as market faces 'historic shock'

Oil fell 5 per cent to around US$28 a barrel on Wednesday, pressured by reports suggesting persistent oversupply and collapsing demand due to global coronavirus-related lockdowns. OPEC expects the dro...

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Trudeau warns against opening economy too soon

Trudeau warns against opening economy too soon

Since the launch of the CEBA on April 9, 2020, more than 195,000 loans have been approved by financial institutions, extending more than $7.5 billion in credit to small businesses. It will also be a w...

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Trump Says US Has Already 'Passed The Peak’ Of COVID-19 Outbreak

Trump Says US Has Already 'Passed The Peak’ Of COVID-19 Outbreak

Liz Cheney, the third highest ranking House Republican, pushed back against a false claim by President Donald Trump that he has "total" authority to decide to lift restrictions governors have impose...

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RITA tax filing deadline extended to July 15

RITA tax filing deadline extended to July 15

The initiative includes a series of steps to help taxpayers by offering relief on different issues ranging from easing payment guidelines to postponing compliance actions. Besides the April 15 estim...

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Jeff Bezos gains $24 billion while world’s rich reap bailout rewards

Jeff Bezos gains $24 billion while world’s rich reap bailout rewards

To help its employees during the crisis, Amazon also increased pay for hourly employees by $2 per hour in the U.S., Canadian dollar 2 per hour in Canada, and 2 euros per hour in many European Union co...

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Best Buy to furlough 51,000 store employees, cut pay of executives

Best Buy to furlough 51,000 store employees, cut pay of executives

Best Buy said on Wednesday it would furlough about 51,000 hourly U.S. store employees and that its sales dropped about 5 percent in the first two months of the current quarter, as the electronics reta...

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Coronavirus Car Insurance Rebates for the Road Less Traveled

Coronavirus Car Insurance Rebates for the Road Less Traveled

This means they use less gasoline, emit less pollutants, and are not involved in as many accidents. So if you haven't used your vehicle at all lately, you might want to go for a drive around the blo...

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Retail Sales Crash By Record 8.7% in March

Sales at furniture and home furnishing stores declined 26.8%, sales at sporting goods stores fell 23.3% and electronics and appliance sales declined 15.1%. Grocery store sales soared 26.9% and receipt...

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Canada's GDP Drops 9% In March

Canada's GDP Drops 9% In March

But it did say the economic disruption caused by the pandemic was "both deep and widespread" in March. Canada's central bank estimates Q1 real activity fell 1%-3% and expects Q2 activity to fall 15%...

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Australian Treasury: Unemployment to hit 10% in Q2

Australian Treasury: Unemployment to hit 10% in Q2

Treasurer Josh Frydenberg said it could have been, with the government's Jobkeeper package expected to safeguard 700,000 jobs that may have otherwise gone missing. He was asked whether the governm...

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Global economy to see worst year since the 30's

Global economy to see worst year since the 30's

According to the report, among emerging market and developing economies, to which Ukraine belongs, "all countries face a health crisis, severe external demand shock, dramatic tightening in global fina...

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Trudeau Announces Even More Canadians Can Now Apply For CERB

Trudeau Announces Even More Canadians Can Now Apply For CERB

This will aim "to help make ends meet". Seasonal workers and people whose Employment Insurance benefits have recently run out also qualify. About 6 million of the country's 37 million people have ap...

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IRS releases tool to check stimulus status

IRS releases tool to check stimulus status

However, some people are still waiting for when that $1,200 per person will hit their bank accounts. That's a shift from its earlier policy mandating those recipients file a tax return to receive fu...

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United States futures drop as earnings roll in; bonds jump

United States futures drop as earnings roll in; bonds jump

The S&P 500 opened lower by 50.42 points, or 1.77%, at 2,795.64, while the Nasdaq Composite dropped 159.78 points, or 1.88%, to 8,355.96 at the opening bell. economic activity "contracted sharply". ...

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Turkey to free thousands of prisoners due to pandemic

Turkey to free thousands of prisoners due to pandemic

According to the law, about 45,000 prisoners will be temporarily released under judicial control till the end of May, and the authorities can extend the period twice by a maximum of two months. Convi...

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Amazon reaches employment goal; to hire 75,000 more

Amazon reaches employment goal; to hire 75,000 more

Emily Cunningham and Maren Costa , who worked as user experience designers, were fired on Friday, according to The Washington Post . An Amazon delivery driver delivers packages during the COVID-19 ...

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Crude Oil Continues To Drop Despite Historic Production Cut Agreement

Crude Oil Continues To Drop Despite Historic Production Cut Agreement

USA shale oil production is expected to drop by 193,625 barrels per day from March this month, while output is seen at 8.526 million barrels per day come May, according to new data published on Mond...

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Oil prices climb on bargain-hunting

Oil prices climb on bargain-hunting

This could be attributed to persistent oversupply and the consistent fall in demand due to global lockdown caused by the coronavirus pandemic . WASHINGTON-Oil-producing nations reached an agreeme...

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U.S. Futures Drop Before Earnings; Oil Fluctuates: Markets Wrap

U.S. Futures Drop Before Earnings; Oil Fluctuates: Markets Wrap

Shares in Tokyo were little changed, Chinese and Hong Kong stocks slipped, and Australian equities dropped as a record slump in consumer confidence reminded investors of the impact of the pandemic on ...

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Kia Motors Considers Halting Three South Korean Plants As Virus Hits Exports

Kia Motors Considers Halting Three South Korean Plants As Virus Hits Exports

South Korea reports a massive 18.6% decline in exports in the first 10 days of April. The management is expected to shut down these factories for one week from April 23 at the earliest after negotia...

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