Page 62 - Us Economy
Donald Trump extends Covid-19 relief package for small businesses
The legislation extends the June 30 deadline for applying for the programme to August 8.
 "Donald Trump extends Covid-19 relief package for small businesses")
Unemployment gap between black and white Americans widest in 5 years
Jobless rates for both groups fell in June, but the rate for whites came down at a much faster rate
 "Unemployment gap between black and white Americans widest in 5 years")
US Fed revisits Great Recession-era idea of keeping low interest rates
Fed officials anticipate the United States will suffer the worst economic downturn since World War Two, and they have no intent to let up on providing stimulus for the foreseeable future
'Extraordinarily uncertain': Fed chief Powell on outlook for US economy
Fed Chairman Jerome Powell said the outlook for the US economy was 'extraordinarily uncertain' and the success of the recovery effort would depend on its ability to contain the coronavirus spread
Wall Street opens higher on hopes of stimulus, decline in Covid-19 cases
The Dow Jones Industrial Average rose 136.90 points, or 0.55%, to 25,152.45 at the open.
 "Wall Street opens higher on hopes of stimulus, decline in Covid-19 cases")
Covid-19 woes: US jobless claims last week totalled to nearly 1.5 million
With the latest numbers, a staggering 47 million initial jobless claims have been filed over the past 14 weeks
 "Covid-19 woes: US jobless claims last week totalled to nearly 1.5 million")
Trump threat to 'decouple' US and China hits trade, investment reality
White House trade adviser Peter Navarro gave Asian markets a scare on Monday night by telling Fox News Channel that the U.S.-China trade deal was "over"
 "Trump threat to 'decouple' US and China hits trade, investment reality")
US economy improving, but a resurgence in Covid-19 cases pose a threat
Many states have reported record daily increases in Covid-19 infections, which health experts have blamed on local governments reopening their economies too soon
American lawmakers urge Trump to revoke temporary suspension of H-1B visas
Suspending this programme will only weaken our economy and our health care workforce at a time when the need to strengthen both is as clear as ever, Krishnamoorthi said
 "American lawmakers urge Trump to revoke temporary suspension of H-1B visas")
US economy to grow slowly than hoped due to Covid-19: Fed official
Since February, US employers have cut nearly 20 million jobs from payrolls, reversing almost 10 years of job gains, according to the Labor Department
 "US economy to grow slowly than hoped due to Covid-19: Fed official")
Economists warn of growing risk of second Covid-19 wave in the US
Federal Reserve Chairman warned that a second wave of Covid-19 infections could hurt public confidence and economic recovery
 "Economists warn of growing risk of second Covid-19 wave in the US")
US unemployment rate soars to post-WWII record high: Federal Reserve
The central bank's remarks were part of its Monetary Policy Report submitted to Congress on Friday
 "US unemployment rate soars to post-WWII record high: Federal Reserve")
IT companies jittery over Donald Trump's plan to suspend H-1B visa
The Indian information technology industry, which has long been a beneficiary of the H-1B visa regime, is likely to be directly impacted if such a suspension is announced for a longer term.
Wall Street opens higher after previous session's big rout; Dow up over 2%
The Dow Jones Industrial Average rose 531.25 points, or 2.11%, at the open to 25,659.42.
 "Wall Street opens higher after previous session's big rout; Dow up over 2%")
S&P 500, Dow Jones slip ahead of Fed outlook; Nasdaq scales fresh high
The tech-heavy Nasdaq, by contrast, hit a record high for the fourth straight session, with gains for Apple Inc, Amazon.com Inc and Microsoft Corp driving rally
 "S&P 500, Dow Jones slip ahead of Fed outlook; Nasdaq scales fresh high")
US entered recession in February, ending record-long expansion: Economists
The economists said employment peaked in February and fell sharply afterward, marking the beginning of the downturn
World Coronavirus Dispatch: A cancer drug offers hope to Covid-19 patients
Meanwhile India sixth most infected as it goes past Italy in overall count, US economy shows unexpected 2.5-million job additions in May
 "World Coronavirus Dispatch: A cancer drug offers hope to Covid-19 patients")
No 'silver lining': Donald Trump faces voter backlash amid crises
Some Republicans fear voters are simply worn out by Trump. People are just so disgusted with how things are
 "No 'silver lining': Donald Trump faces voter backlash amid crises")
US jobs report surprises analysts, raises hopes of faster economic recovery
Some of the jobs gains reported for May could be a reflection of the Paycheck Protection Program
 "US jobs report surprises analysts, raises hopes of faster economic recovery")
Trump hails US jobs report as 'greatest comeback in American history'
Says slain African-American George Floyd might be pleased by report, which shows over 2.5 mn jobs were added in May amid Covid-19, and predicts the battered economy will recover all jobs by next year
 "Trump hails US jobs report as 'greatest comeback in American history'")