Page 63 - Us Economy
No one really knows how many Americans need unemployment benefits
Another 1.9 million people filed for unemployment benefits for the first time last week, according to data released by the Labor Department on Thursday
 "No one really knows how many Americans need unemployment benefits")
US unemployment rate in May could hit highest level since World War II
Consumer confidence, manufacturing and services industries are also stabilising, though at low levels, hopeful signs that the worst was over
 "US unemployment rate in May could hit highest level since World War II")
US Fed likely to keep near zero rates for a few years to boost economy
Roberto Perli, a former Fed staffer and now head of global policy research at Cornerstone Macro, also expected the SEP to show that Fed officials would not want to raise rates before 2022
 "US Fed likely to keep near zero rates for a few years to boost economy")
Covid-19 could trim US GDP by $15.7 trn in next 10 yrs, says budget office
After adjusting for inflation, CBO said the lost output would total $7.9 trillion, a loss of 3 per cent of inflation-adjusted GDP
 "Covid-19 could trim US GDP by $15.7 trn in next 10 yrs, says budget office")
Second wave of Covid-19 could derail US economic recovery: Fed chief Powell
Powell believes that the second wave of coronavirus cases would dampen consumer confidence and hurt economic recovery
 "Second wave of Covid-19 could derail US economic recovery: Fed chief Powell")
US restaurants concerned over sales losses due to capacity constraints
A survey of 2,500 US consumers conducted this month found that three-quarters planned to avoid restaurants or dine out less frequently, according to Wall Street firm Cowen
 "US restaurants concerned over sales losses due to capacity constraints")
US economy shrank at 5% annual rate in Q1, higher than initial estimate
It was the biggest quarterly decline since an 8.4 per cent fall in the fourth quarter of 2008 during the depths of the financial crisis
 "US economy shrank at 5% annual rate in Q1, higher than initial estimate")
New wave of job cuts likely across US as Covid-19 crisis crushes economy
The Labor Department's weekly jobless claims report on Thursday is also expected to show the number of people on jobless benefits hitting a new record high in mid-May
 "New wave of job cuts likely across US as Covid-19 crisis crushes economy")
Covid-19: US Fed survey on economic revival, outlook and consumer behaviour
The sharp plunge in economic activity recounted in the US central bank's latest temperature check of business activity across its 12 districts shed light on the depth of the economic pain
Chevron Corp sees up to 15% reduction in positions amid Covid-19 crisis
Most of the reductions will take place this year, according to an internal memo said.
 "Chevron Corp sees up to 15% reduction in positions amid Covid-19 crisis")
Wealth managers advise clients to invest in US-oriented offshore products
International funds delivered 6.8% returns in one year, against large drawdowns in domestic funds
 "Wealth managers advise clients to invest in US-oriented offshore products")
Liquidity, labour and logistics are the key challenges: JSW Steel's Rao
Ensuring return of labour as important as sending them back home, says Seshagiri Rao
 "Liquidity, labour and logistics are the key challenges: JSW Steel's Rao")
The economic crisis and India's role in post-coronavirus multilateralism
The world gross domestic product is expected to contract by 3%, international trade may decline by up to 32%, and 49 million people could slip into extreme poverty
 "The economic crisis and India's role in post-coronavirus multilateralism")
Richer in pandemic: Bezos, Musk among US billionaires whose net worth rose
The wealth surge of America's richest men happened during a period marred by the coronavirus crisis, when as many as 22 million Americans filed for unemployment benefits
 "Richer in pandemic: Bezos, Musk among US billionaires whose net worth rose")
RBI monetary policy review: Walking the extra mile
Since March 27, the RBI has acted proactively and ahead of time to contain the fallout of the Covid-19 pandemic.
 "RBI monetary policy review: Walking the extra mile")
US will not shut down in case of second Covid-19 wave, says Trump
"A permanent lockdown is not a strategy for a healthy state or a healthy country. Our country wasn't meant to be shut down," the president says
 "US will not shut down in case of second Covid-19 wave, says Trump")
Covid-19 crisis: Warren Buffett cuts crisis-era bet on Goldman Sachs
Berkshire Hathaway sold 84 per cent of its Goldman Sachs stock in the first quarter, marking a reversal for an investor who generally holds large stakes in the banking sector.
 "Covid-19 crisis: Warren Buffett cuts crisis-era bet on Goldman Sachs")
US economy to recover from Covid-19 shock by end of 2021: Fed Chief Powell
The US has expressed disappointment over China's handling of the Covid-19 which has claimed nearly 90,000 lives in America
 "US economy to recover from Covid-19 shock by end of 2021: Fed Chief Powell")
World coronavirus dispatch: The US' $3-trn incremental response to slump
From a flop technology becoming a life-saver because of Covid-19, to a thread on last 'normal' photo on your phone, and Trump planning to restore WHO funding - read these and more in today's dispatch
 "World coronavirus dispatch: The US' $3-trn incremental response to slump")
US House passes $3-trillion coronavirus relief package to revive economy
The rescue plan was approved on Friday night by a tight 208-199 margin amid opposition by Republicans
 "US House passes $3-trillion coronavirus relief package to revive economy")