Treasury Secretary Mnuchin, Fed Chair Powell testify before Senate undefined Treasury Secretary Steven Mnuchin touted continued economic growth as the country recovers from being shut down earlier this year due to the coronavirus pandemic while warning that new restrictive measures are impeding that progress. Continue Reading Below Mnuchin is testifying before […]
Read morePfizer, BioNTech seek COVID-19 vaccine approval in Europe
More On: Coronavirus LA County supervisor dines outdoors just hours after voting to ban the practice Kim Jong Un received experimental COVID-19 vaccine from China, analyst says 16-year-old student abruptly dies of COVID-19-related illness Defiant NYC bar in COVID-19 hotspot closes for TV spot as people bang on door for […]
Read moreRefinancing your mortgage? 5 questions you should ask first
With interest rates low, homeowners may opt to refinance – but not without a good review of potential outcomes. (iStock) U.S. homeowners are on a refinancing binge in 2020, with mortgage refinance rates up by 98% from mid-November 2019 to the same period in 2020, according to the Mortgage Bankers […]
Read moreFed extends emergency lending programmes through March 31
The programmes include the Commercial Paper Funding Facility and the Primary Dealer Credit Facility. The US Federal Reserve said Monday it has extended several pandemic emergency lending programs for three months through March 31, with approval from the Treasury Department. The announcement came after Treasury Secretary Steven Mnuchin last week […]
Read moreIndia GDP Contraction Slows, Economy Enters Recession
India’s economic contraction slowed sharply in the September quarter, but the economy entered a technical recession due to the impact of the harsh lockdown imposed to curb the spread of the coronavirus, or Covid-19, pandemic. Gross domestic product fell 7.5 percent year-on-year, data from the statistics ministry showed on Friday. […]
Read moreAmazon to hand out holiday bonuses after flap over ‘turkey vouchers’
Amazon is handing out holiday bonuses to its warehouse workers companywide, just days after employees griped about getting “turkey vouchers” ahead of Thanksgiving that were worth as little as $10. The e-tailing giant will give $300 to full-time employees working on the front lines, while part-time workers will receive $150. […]
Read moreDisney (DIS) Raises Planned Layoffs to 32,000
The Walt Disney Company (DIS) has announced that it plans to lay off 32,000 employees by the end of March 2021, which is when the first half of its fiscal year 2021 concludes. The force reduction will be primarily in Disney's Parks, Experiences and Products segment, which had about 155,000 […]
Read moreSweden Central Bank Expands Quantitative Easing
Sweden’s central bank expanded its asset purchase programme and vowed to keep its interest rate at zero in coming years as tighter restrictions to contain the spread of Covid-19 infections lead to a new downturn in the economy. The Executive Board of Riksbank decided to expand the asset purchases by […]
Read moreTeetering airlines will struggle to outlast wait for vaccine
The trio of coronavirus vaccines racing toward approval may reach the masses too late to prevent another round of airline failures. With last week's insolvency filing at Norwegian Air Shuttle ASA, some 42 airlines worldwide have failed or entered administration this year, according to research from consultant IBA Group. The […]
Read moreGoing downhill: UK economy to be left with nasty pandemic scars
A mere 285 days into the job, Rishi Sunak made yet more history for reasons he could have barely imagined when he became Chancellor in February. Inevitably, a record peacetime deficit of £394 billion ($535 billion) is a headline-stealer but who in truth could claim to be surprised when the […]
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