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Economic News

Wed, Jul 8th, 2020
The Latest: Official says Tulsa rally likely led to surge

OKLAHOMA CITY — President Donald Trump’s campaign rally in Tulsa in late June that drew thousands of people, along with large protests that accompanied it, “likely contributed” to a dramatic surge...

'A hot mess': Americans face testing delays as virus surges

LOS ANGELES (AP) — For two weeks, Rachael Jones has stayed home, going without a paycheck while waiting and waiting for the results of a COVID-19 test from a pharmacy near Philadelphia.

Wall Street's rally gets back on track as tech leads the way

NEW YORK (AP) — Wall Street’s rally got back on track Wednesday after more gains for big technology stocks helped pull the S&P 500 to its sixth gain in seven days.

MSFT : 213.15 (+2.35%)
UAL : 32.53 (-0.06%)
NTRS : 80.16 (+2.97%)
MS : 48.91 (+2.99%)
Judge dismisses GM's bribery lawsuit against Fiat Chrysler

DETROIT (AP) — A federal judge in Detroit has tossed out General Motors’ lawsuit alleging that Fiat Chrysler paid off union leaders to get better contract terms than GM.

GM : 24.94 (-0.76%)
Brooks Brothers, worn by Lincoln and Kennedy, goes bankrupt

NEW YORK (AP) — Brooks Brothers, the 200-year-old company that dressed nearly every U.S. president, filed for bankruptcy protection Wednesday, the latest major clothing seller to be toppled by the coronavirus...

EBAY : 58.27 (+2.23%)
JCPNQ : 0.3150 (-3.96%)
WMT : 124.44 (-1.98%)
TGT : 117.70 (-0.30%)
Trump forgoes insults of past, calls Mexico cherished friend

WASHINGTON (AP) — President Donald Trump, who has denigrated Mexican migrants and threatened the U.S. ally with crippling tariffs, welcomed President Andrés Manuel López Obrador to the White House...

Canada predicts historic deficit due to pandemic spending

OTTAWA (AP) — The Canadian government is predicting a historic CDN$343 billion (US$254 billion) deficit for 2020-21 resulting from its economic and stimulus plans to battle COVID-19.

Saudi, Briton join race for top WTO post ahead of deadline

GENEVA (AP) — Britain and Saudi Arabia put forward late entries Wednesday for the contest to become the next director-general of the World Trade Organization, joining six others hoping to lead the Geneva-based...

US starts talks on free trade agreement with Kenya

WASHINGTON (AP) — The United States and Kenya began talks on a free trade agreement Wednesday that would mark the first U.S. trade deal with a sub-Saharan nation.

United will warn 36,000 workers they could be laid off

United Airlines is warning 36,000 employees - nearly half its U.S. staff - they could be furloughed in October, the clearest signal yet of how deeply the virus pandemic is hurting the airline industry....

DAL : 27.01 (unch)
UAL : 32.53 (-0.06%)
Housing market heats up, cruise industry in murky waters

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the...

UK gets creative: Job bonus and eating out schemes announced

LONDON (AP) — The British government unveiled a raft of measures Wednesday it hopes will limit an anticipated spike in unemployment as a result of the coronavirus pandemic.

United Airlines sending layoff warnings to 36,000 employees, nearly half its work force, as pandemic obliterates travel

CHICAGO (AP) — United Airlines sending layoff warnings to 36,000 employees, nearly half its work force, as pandemic obliterates travel.

UAL : 32.53 (-0.06%)
Renters face financial cliff ahead; limited help available

Renters are nearing the end of their financial rope.

Malaysian palm oil giant hit with forced labor allegations

MINNEAPOLIS (AP) — An anti-trafficking organization has filed a petition to ban the importation of palm oil produced by one of the world’s largest suppliers, saying it found evidence of child and forced...

Walgreens dives into primary care with clinic expansion

Walgreens will squeeze primary care clinics into as many as 700 of its U.S. stores over the next few years in a major expansion of the care it offers customers.

Hottest commodity in Lebanon's economic chaos: The US dollar

BEIRUT (AP) — The lines snaked around the block. Then they swelled to fill the whole street, before they turned into a raucous mob of men shoving to the front of the line. There at the exchange bureau,...

The Latest: New Zealand to charge patient who went shopping

WELLINGTON, New Zealand — New Zealand authorities say they will press charges against a coronavirus patient who escaped quarantine in Auckland and went shopping at a supermarket.

McConnell eyes virus aid as evictions, benefits cuts loom

WASHINGTON (AP) — An eviction moratorium is lifting. Extra unemployment benefits are ending. Parents are being called to work, but schools are struggling to reopen for fall as the shows no signs of...

Civil rights groups denounce Facebook over hate speech

Facebook keeps telling critics that it is doing everything it can to rid its service of hate, abuse and misinformation. And the company's detractors keep not buying it.

Chart of the Day

Drdgold Ltd (DRD)

The Barchart Chart of the Day belongs to the gold producer DRDGold (DRD). I found the stock by sorting Barchart's Top Stocks to Own list first by the most frequent number of new highs in the last month, then used the Flipchart feature to review ...
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