01 Jun 2020

U.S. Jobless Claims Pass 40 Million

As US jobless claims surpass 40 million as a result of lockdown measures combatting the spread of COVID-19, Nordstrom sales dropped 40% in the first quarter. Other companies are also trying to relieve economic pressure, with airlines such as Delta and American offering buyouts to their employees. Delta has offered

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01 Jun 2020

Lockdowns ease across Europe and Asia with new tourism rules

On June 1, COVID-19 restrictions eased across Asia and Europe. Public spaces such as the Colosseum in Rome have reopened while transportation, recreation, schools, and restaurant businesses begin to resume activity with limitations. Greece now allows hotels, open-air cinemas, campsites, golf courses, and public swimming polls to operate on social

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22 May 2020

India’s Central Bank Combats Coronavirus Pain With a Surprise Rate Cut

India is still in the middle of the world’s largest lockdown in an effort to reduce the spread of the COVID-19 virus. To ease the economic pressure, India’s central bank pulled a surprising move by cutting its key lending rate in hopes to reignite growth. India’s economy has suffered greatly

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21 May 2020

China focused on jobs as national legislature meets

China is seemingly following the US and other governments in distributing stimulus spending checks to restart its economy, which has been crippled by months of strict lockdown measures. On Friday, companies and the public will meet for the ceremonial national legislature to discuss this option. Although China reopened in March

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08 May 2020

Why China Is Withholding Stimulus Amid Coronavirus-Sparked Downturn

China’s economy has been severely impacted by the COVID-19 pandemic that caused Chinese cities to go into lockdown for over two months in some cases. The country suffered its first quarter of economic contraction since the 1970s, with millions of jobs lost and businesses closing. However, China has not yet

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17 Apr 2020

Pandemic Makes U.S.-China Economic Breakup More Likely, U.S. Businesses in China Say

The coronavirus pandemic is creating concern that the US and Chinese economies will “decouple,” as COVID-19 disrupts supply chains and strains relations between the two countries. In March, 44% of 25 major US companies stated that decoupling would be impossible, compared to 66% in October. Therefore, enterprises have become increasingly

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13 Apr 2020

OPEC, oil nations agree to nearly 10M barrel cut amid virus

Russia, OPEC, and other oil-producing nations have announced on Sunday that they have finalized an unprecedented production cut. The cut consists of nearly 10 million barrels, which represents a tenth of the global supply. The measure aims to boost oil prices amid the coronavirus pandemic and a price war, according

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09 Apr 2020

U.S. Unemployment Claims Total 6.6 Million Last Week

Last week, 6.6 million Americans filed for unemployment claims as efforts to halt the Covid-19 spread result in thousands of businesses and workplaces closing, leaving their employees without an income. In the week ending on April 4, 6.6 million unemployment applications were filed, a slight decrease from the previous week

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09 Apr 2020

Half billion more people face poverty due to virus

According to a report based on research from King’s College London and the Australian National University, approximately half a billion people could be pushed under their respective poverty lines due to economic fallout from the COVID-19 pandemic. The report states that this will likely occur unless wealthier countries take aggressive

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06 Apr 2020

Emerging-Market Economies Brace for Coronavirus Hit

After dramatically impacting developed economies across Asia, Europe, and North America, the COVID-19 pandemic is projected to effect economies across the developing world. Capital Economics has published data stating that economic output in emerging markets will fall by 1.5% this year. This would represent the first decline since records began

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