Page 3 - Us Government Shutdown

Lack of jobs data due to govt shutdown muddies view of hiring, US economy

From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 am eastern as everyone awaits the Labor Department's crucial monthly jobs report. But with the government shut down, no information was released Friday about hiring in September. The interruption in the data has occurred at a particularly uncertain time, when policymakers at the Federal Reserve and Wall Street investors would need more data on the economy, rather than less. Hiring has ground nearly to a halt, threatening to drag down the broader economy. Yet at the same time, consumers particularly higher-income earners are still spending and some businesses are ramping up investments in data centres developing artificial intelligence models. Whether that is enough to revive hiring remains to be seen. It's the first time since a government shutdown in 2013 that the jobs report has been delayed. .

US visa applicants may face delays as shutdown takes effect: Embassy warns

US government shutdown halts non-essential services, but visa and passport processing at embassies will continue, with possible delays

Asian stocks clock weekly gains on Fed rate cut wagers, AI fervour

Asian markets were taking cues from Wall Street, where all three major indexes closed at record highs buoyed by technology stocks as investor enthusiasm for all things AI remains unchallenged

Bitcoin reclaims $120K as US shutdown fuels demand for safe-haven assets

The original cryptocurrency has long been referred to as "digital gold" by advocates, who see it serving a similar role as the precious metal during times of turmoil

Trump goes online to target Democrats as US govt shutdown continues

On Thursday morning, as thousands of federal employees stayed home and faced potential layoffs because of the government shutdown, President Donald Trump got right to work on social media. He started by sharing praise from supporters. Then he falsely claimed that DEMOCRATS WANT TO GIVE YOUR HEALTHCARE MONEY TO ILLEGAL ALIENS. And then he announced that he would meet with his top budget adviser to figure out where to make permanent cuts to federal programmes that are a political SCAM. All that was before 8 am, just one flurry in a blizzard of online commentary from the president as the government shutdown entered a second day. Like so many other times when he's faced complex crises with no easy solutions, Trump seems determined to post his way through it. The stream of invective and trolling has been remarkable even for a 79-year-old president who is as chronically online as any member of Gen Z. His style is mirrored by the rest of his administration, which so far seems more interest

Trump uses govt shutdown to target federal workers, halt key projects

President Donald Trump has seized on the government shutdown as an opportunity to reshape the federal workforce and punish detractors, by threatening mass firings of workers and suggesting irreversible cuts to programmes important to Democrats. Rather than simply furlough employees, as is usually done during any lapse of funds, White House press secretary Karoline Leavitt said layoffs were imminent. The Office of Management and Budget announced it was putting on hold roughly USD 18 billion of infrastructure funds for New York's subway and Hudson Tunnel projects in the hometown of the Democratic leaders of the US House and Senate. Trump has marvelled over the handiwork of his budget director. He can trim the budget to a level that you couldn't do any other way, the president said at the start of the week of OMB Director Russ Vought, who was also a chief architect of the Project 2025 conservative policy book. So they're taking a risk by having a shutdown, Trump said during an event

US govt shutdown: Impact on H-1B, student and tourist visas decoded

US government shutdown may not stop visa processing, but Indian applicants could face slowdowns in H-1B, labour checks and embassy resources

New York's Statue of Liberty torch may go dark as US govt shutdown drags on

The shutdown threatens to close New York's Statue of Liberty and freeze billions in federal funds, hitting social services, safety programmes and city infrastructure

US govt shutdown threatens timely economic data amid Fed uncertainty

The government shutdown that began Wednesday will deprive policymakers and investors of economic data vital to their decision-making at a time of unusual uncertainty about the direction of the US economy. The absence will be felt almost immediately, as the government's monthly jobs report scheduled for release Friday will likely be delayed. A weekly report on the number of Americans seeking unemployment benefits a proxy for layoffs that is typically published on Thursdays will also be postponed. If the shutdown is short-lived, it won't be very disruptive. But if the release of economic data is delayed for several weeks or longer, it could pose challenges, particularly for the Federal Reserve. The Fed is grappling with where to set a key interest rate at a time of conflicting signals, with inflation running above its 2 per cent target and hiring nearly ground to a halt, driving the unemployment rate higher in August. The Fed typically cuts this rate when unemployment rises, but ...

Prolonged US govt shutdown could impact travel plans amid flight delays

If a US government shutdown goes on long enough, it could throw a wrench in travel plans, potentially leading to longer airport wait times, flight delays and even cancellations. The shutdown began Wednesday after President Donald Trump and Congress failed to reach a deal to continue funding government services and operations. That means a vast majority of employees who keep US airports and air travel running are working without pay until the government reopens. The longer a shutdown drags on, the more likely we are to see longer TSA lines, flight delays and cancellations, national parks in disrepair and unnecessary delays in modernising travel infrastructure," Geoff Freeman, president and CEO of the US Travel Association, warned in a statement. Here's what to know about the shutdown and its potential impacts on your travel plans: Flying during a shutdown Travellers can still fly despite the lapse in funding, but during a prolonged shutdown, travellers should plan ahead for potenti

Who works, who waits: What the latest US government shutdown means

The US government shutdown affects over 750,000 federal employees, halting some services, delaying salaries, and raising questions about the impact on essential programmes and daily life

Caution sets in: Equities fall, gold hits record amid US shutdown fears

MSCI's broadest index of Asia-Pacific shares outside Japan, however, rose almost 0.5 per cent, poised for a gain of over 5 per cent this month

US govt on verge of shutdown as Trump pushes unilateral budget cuts

The longest government shutdown in US history during President Trump's first term, lasting 35 days from December 2018 to January 2019

Friday midnight deadline looms for US Congress to prevent govt shutdown

Congress has until midnight Friday to come up with a way to fund the government or federal agencies will shut down, meaning hundreds of thousands of federal employees could be sent home or stay on the job without pay just ahead of the holidays. Republicans abandoned a bipartisan plan Wednesday to prevent a shutdown after President-elect Donald Trump and billionaire Elon Musk came out against it. Trump told House Speaker Mike Johnson to essentially renegotiate the deal days before a deadline when federal funding runs out. Here's what to know about a possible government shutdown, what agencies would be affected and how long it could last: What does it mean if the government shuts down? A government shutdown happens when Congress doesn't pass legislation either temporarily or more permanently funding the government, and such a measure isn't signed by the president. When would a government shutdown start? If Congress doesn't approve a continuing resolution or more permanent spendin

'Nasty trap': Trump and Musk oppose stopgap bill, US govt shutdown looms

The stopgap spending measure, designed to extend government funding until March 14, met resistance from President-elect Donald Trump and Elon Musk

US Congressional leaders ready stopgap bill to extend govt funding to March

Congressional leaders are preparing a stopgap bill to keep the federal government running into March and avoid a partial shutdown next week. The temporary measure will run to March 1 for some federal agencies whose approved funds are set to run out on Friday and extend the remainder of government operations to March 8. That's according to a person familiar with the situation and granted anonymity to discuss it. The stopgap bill, expected to be released on Sunday, would come as House Speaker Mike Johnson has been under pressure from his hard-right flank in recent days to jettison a recent bipartisan spending deal with Senate Democrats. The bill would need Democratic support to pass the narrowly divided House. Johnson insisted on Friday that he is sticking with the deal he struck with Senate Majority Leader Chuck Schumer, despite pressure from some conservatives to renegotiate. Moderates in the party had urged him to stay the course. Still, in his first big test as the new leader, h

US Prez Biden signs stopgap spending bill, averts government shutdown

The two-step plan, a victory for House Speaker Mike Johnson, received bipartisan support in both chambers. It establishes new shutdown deadlines in January and February

US Congress approves temporary funding, averts government shutdown

Ending the threat of a government shutdown until after the holidays, Congress gave final approval Wednesday night to a temporary government funding package that pushes a confrontation over the federal budget into the new year. The Senate met into the night to pass the bill with an overwhelming 87-11 tally and send it to President Joe Biden for his signature one day after it passed the House on an overwhelming bipartisan vote. It provides a funding patch into next year, when the House and Senate will be forced to confront and somehow overcome their considerable differences over what funding levels should be. In the meantime, the bill removes the threat of a government shutdown days before funding would have expired. This Friday night there will be no government shutdown, Senate Majority Leader Chuck Schumer said in a floor speech ahead of the final vote. The spending package keeps government funding at current levels for roughly two more months while a long-term package is ...

Sensex down 316pts, Nifty below 19550 amid global selling; JSW Infra up 32%

Closing Bell on October 3, 2023: In the broader markets, the key indices outperformed the frontline indices with the BSE MidCap index gaining 0.09%, and the BSE SmallCap index advancing 0.6%

Crypto wrap: Ethereum outperforms Bitcoin as investors tread with caution

Apart from Ethereum, almost all the major crypto coins traded range bound in the last one week