Page 58 - Us Economy

How starving public health in US fuelled a Covid-19 fire in Florida

On a sweltering July morning, Rose Wilson struggled to breathe as she sat in her bed, the light from her computer illuminating her face and the oxygen tubes in her nose. Wilson, a retiree who worked as a public health department nurse supervisor in Duval County for 35 years, had just been diagnosed with COVID-19-induced pneumonia. She had a telemedicine appointment with her doctor. Staring back from her screen was Dr Rogers Cain, who runs a tidy little family medical clinic a couple of blocks from the Trout River in north Jacksonville, a predominantly Black area where the coronavirus is running roughshod. Wilson, 81, was one of Cain's patients who'd tested positive he had seven other COVID patients that morning before noon. Three of her grown children had contracted the virus, too. Cain and Wilson are nervous. Over the past two decades, both watched as the county health department was gutted of money and people, hampering Duval's ability to respond to outbreaks, including a small .

In interview Donald Trump threatens to decouple US economy from China

Trump entered into a high-stakes trade war with China before reaching a partial phase 1 trade deal in January

Signs of recovery? US business activity accelerates, home sales surge

(Reuters) - In signs an economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July, and purchasing managers in both the manufacturing and services sectors report business activity has accelerated at a brisker-than-expected pace this month.

US jobless claims jump back above 1 mn as Covid-19 pulls down economy

Jobless claims had fallen last week below 1 million for the first time since March, to 971,000

Will give tax incentives to companies bringing jobs to US from China: Trump

The US President also threatened to strip companies of federal contacts if they outsource manufacturing abroad

Trump policies boon to super rich. So where are 7-figure cheques?

Only a fraction of the president's top donors have given as much to his re-election effort

US economy is reliant on consumer spending: Can it survive Covid-19?

Today's consumer society emerged after the end of World War I, fueled by the emergence of the modern advertising industry and facilitated by widespread adoption of consumer credit

Cong leaves Washington with no deal; Trump pushes for more virus relief

Both chambers of Congress have left for their August recesses and are not expected to return until September unless they strike a COVID-19 relief deal

US weekly jobless claims fall below 1 million for first time in 5 months

The report also showed that the four-week moving average, a method to iron out data volatility, decreased by 86,250 to 1.25 million

US budget deficit climbs to record $2.81 trillion, expected to rise further

The federal government rang up a $63 billion deficit in July, the department reported

US economy does not need big dose of Covid-19 stimulus: White House adviser

"The numbers are coming in very, very nicely," National Economic Council Director Larry Kudlow told Fox Business Network

Slowdown to continue as states announce more curbs: Fed official

Consumer spending is likely to say low relative to the past as people avoid activities that require high levels of social interaction for health reasons, Rosengren said

Covid-19 pandemic worsens the US gender pay gap, with women losing out

In a regular recession, the pay gap between men and women shrinks by two percentage points as men tend to get hit harder by job losses

Donald Trump says he is 'seriously' considering a capital gains tax cut

The president can't unilaterally cut the 20 per cent long-term capital gains rate without Congress, but some advisers tell him he could issue an executive order

S&P 500 inches closer to record high as coronavirus stimulus bets climb

Ultra-low interest rates, trillions of dollars in stimulus and, more recently, a better-than-feared second-quarter earnings season have allowed all three of Wall Street's main indexes to recover

Covid-19 pandemic speeds up JSW Steel's US business revamp plan

JSW Steel outlined plans two years ago to invest $1 billion in the US to expand its global footprint

Oil prices rise 1% on Saudi Aramco's upbeat demand view, Iraq output cut

West Texas Intermediate crude futures rose 50 cents, or 1.2%, to $41.72 a barrel at 0301 GMT, while Brent crude futures were up 40 cents, or 0.9%, at $44.80 a barrel

Covid-19 crisis: Donald Trump bypasses Congress to halt payroll tax

"Because the Trump plan taps a limited pool of existing funds to extend unemployment benefits at $400 per week, there is a high risk they run short ahead of the election," Husby said

Why RBI has allowed one-time restructuring of corporate and personal loans

Like almost everywhere else, the ability of assets to earn returns in industries ranging from airlines, hotels and commercial real estate - from large firms to their small vendors - has been impaired

US employment growth slows sharply in July amid Covid-19 pandemic

Talks have been dragging over differences on major issues, including the size of a government benefit for unemployed workers