Trump Might Ban Alibaba in U.S.
2020-08-15 23:54:54 UTC
<p>BEDMINSTER, N.J. (Reuters) - U.S. President Donald Trump said on Saturday during a press conference that he was “looking into” whether Chinese technology giant Alibaba should be banned in the United States. </p><p>Trump has been piling pressure on Chinese-owned companies, such...
Biden Slams Trump/GOP, Demands to Fix Unemployment Benefits
2020-08-12 22:25:37 UTC
WASHINGTON — Democratic presidential candidate Joe Biden on Saturday slammed Trump and Senate Majority Leader Mitch McConnell for letting the Senate go home for the weekend without a deal to extend the unemployment benefits or protect renters facing eviction.
“Because Donald Trump is abdicati...
WH Signals Willingness to Accept Keeping $600 Benefit For Now
2020-08-06 03:25:39 UTC
WASHINGTON (AP) — The White House and some of its Republican allies in the Senate are signaling they want to extend, at least temporarily, a $600-per-week expanded jobless benefit that has helped keep families and the economy afloat during the COVID-19 pandemic. The move looks to be too little, t...
GOP Has Left Millions of Out-of-Work Americans in Limbo
2020-08-12 22:27:39 UTC
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Saturday that Republicans were set to roll out the next COVID-19 aid package Monday and assured there was backing from the White House after he and President Donald Trump’s top aide met to salvage the $1 trillion proposal that had floundere...
GOP Senators Struggle with $600 Weekly Unemployment Boost
2020-07-23 02:04:36 UTC
WASHINGTON (AP) — Senate Republicans and the White House reached tentative agreement late Wednesday for more testing funds in the next COVID-19 relief package, but deep disagreements over the scope of the $1 trillion in federal aid have forced a shift in strategy.
Facing a GOP revolt, Senate M...
Tesla Quarterly Revenue Fell to $6.04 Billion
2020-07-22 23:42:19 UTC
(Reuters) - Tesla Inc on Wednesday beat analysts’ estimates for second-quarter revenue, helped by better-than-expected vehicle deliveries despite disruptions caused by the coronavirus crisis.
Revenue fell to $6.04 billion from $6.35 billion a year earlier. Analysts had expected revenue of $5.3...
Corruption in Washington: Federal Coronavirus Aid Was Awarded to Major Donors to Trump
2020-07-07 21:30:37 UTC
WASHINGTON (AP) — As much as $273 million in federal coronavirus aid was awarded to more than 100 companies that are owned or operated by major donors to President Donald Trump’s election efforts, according to an Associated Press analysis of federal data.
Many were among the first to be approv...
Germany, Australia, Brazil: Google to Pay Media Groups for Content
2020-07-03 03:03:29 UTC
BRUSSELS (Reuters) - Alphabet’s Google on Thursday took a step towards resolving its spat with publishers, saying it would pay some media groups in Australia, Brazil and Germany for high-quality content and expects to do more deals, but others were sceptical.
The U.S. internet giant has for y...
More Than A Century Old Hertz Filed For Bankruptcy
2020-05-23 16:59:28 UTC
<p>NEW YORK (Reuters) - The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much needed relief.</p><p>Hertz’s board earli...
Impasse: No Progress in Brexit Talks
2020-04-28 13:22:21 UTC
BRUSSELS (Reuters) - Negotiations between the European Union (EU) and ex-member Britain over new trade arrangements from next year are at an impasse due to disagreements and the coronavirus crisis, according to diplomats and officials in the bloc’s hub Brussels.
Halted when the epidemic starte...
European Carmakers Reopening Plants as COVID-19 Lockdown Eases
2020-04-27 18:58:17 UTC
FRANKFURT (Reuters) - German carmaking giant Volkswagen resumed production at its biggest factory on Monday as part of a broader industry drive to get back to work in Europe, where the coronavirus pandemic has hammered demand and pushed up inventory levels.
Encouraged by a fall in infection ra...
COVID-19: U.S. Expects Flood of Business Bankruptcies
2020-04-27 01:48:54 UTC
NEW YORK (AP) — The billions of dollars in coronavirus relief targeted at small businesses may not prevent many of them from ending up in bankruptcy court.
Business filings under Chapter 11 of the federal bankruptcy law rose sharply in March, and attorneys who work with struggling companies ar...
UK Economy Will Suffer Devastating Consequences of COVID 19
2020-04-14 19:37:59 UTC
LONDON (Reuters) - Britain’s economy could shrink by 13% this year due to the government’s coronavirus shutdown, its deepest recession in three centuries, and public borrowing is set to surge to a post-World War Two high, the country’s budget forecasters said.
In the April-June period alone, e...
UK to Adapt Apple, Google's Coronavirus Tracking Tool
2020-04-12 07:06:43 UTC
(Reuters) - The technology arm of the National Health Service has been working on a mobile phone app with Alphabet Inc’s Google and iPhone maker Apple that the government hopes will help in ending the coronavirus lockdown, the Sunday Times newspaper reported.
The system will use Bluetooth tec...
Silicon Valley: Google, Apple to Create Tracing Tools to Slow Coronavirus Spread
2020-04-10 18:00:20 UTC
(Reuters) - Apple Inc (AAPL.O) and Alphabet Inc’s (GOOGL.O) Google said on Friday that they will work together to create contact tracing technology that aims to slow the spread of the coronavirus by allowing users to opt into a system that catalogs other phones they have been near.
The two Sil...
Trump's Economic Nationalism Will Not Save The US Economy From Collapse
2020-04-09 17:07:02 UTC
BALTIMORE (AP) — President Donald Trump has been telling voters that the U.S. economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus.
But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will ...
“Modern Piracy”: U.S. Snatches Masks Meant for Germany
2020-04-04 01:17:16 UTC
PARIS/BERLIN — The global scramble to secure face masks to shield frontline workers from the coronavirus has turned the marketplace into the “Wild West,” with the United States often ready to outbid buyers who have already signed deals, officials from Europe to the Americas say.
In France and ...
Markets Fall Sharply as Coronavirus Outbreak Worsens
2020-04-01 21:41:27 UTC
<p>NEW YORK (AP) — Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts — and as experts say they still can’t predict when it will end.</p><p>The S&P 500 lost 4.4% after the White House sa...
IMF: Global Economy Has Entered Recession, Worse Than 2008 Downturn
2020-03-27 23:26:50 UTC
WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn.
IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recove...
3.3 Million Americans Filed for Unemployment Aid in A Single Week
2020-03-27 00:45:33 UTC
WASHINGTON (AP) — Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus.
The surge in weekly applications was a stunning reflection of the damage the viral out...
U.S. Auto Sales Plummet 80 Percent
2020-03-26 04:24:17 UTC
(Reuters) - Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of the coronavirus will drop 80% or more, analysts said on Wednesday.
Auto retail sales through the week of March 22 declined 22% nationwide on a yearly basis and as much as 40% in some cities on the ...
Asian Markets Opened Sharply Higher
2020-03-25 03:14:56 UTC
NEW YORK (AP) — Shares opened sharply higher in Asia on Wednesday after the Dow Jones Industrial Average surged to its best day since 1933 with Congress and the White House nearing a deal on injecting nearly $2 trillion of aid into an economy ravaged by the coronavirus.
Japan’s Nikkei 225 inde...
Dow Ends Week With a 17.3% Loss
2020-03-21 00:53:35 UTC
<p>Wall Street ended the week the same way it began: in full retreat from the coronavirus.</p><p>Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of th...
Dow Erases All Its Gains Since Trump’s Inauguration
2020-03-18 23:34:43 UTC
NEW YORK (AP) — Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to ra...
Global Stocks Fall Sharply as Virus Cases Spread Around the World
2020-03-16 20:33:23 UTC
NEW YORK (AP) — Stocks fell sharply around the world Monday as the coronavirus forced huge swaths of the economy to the edge of a standstill, from parked airplanes to the nearly empty restaurant around the corner.
The Dow industrials took a 2,999-point nosedive on Monday as fears deepen that ...