Sailing past pristine islands and turquoise lagoons, the first cruise ship offering Saudi tours serves a twin purpose — jump-starting tourism despite coronavirus fears and showcasing austerity-defying megaprojects planned along the Red Sea. In August, the cruise liner Silver Spirit began offering tours along the unspoilt Red Sea coastline which […]
Economic
Facing resurgent virus infections, Spain’s government on Wednesday unveiled an EU-funded recovery plan aimed at creating over 800,000 new jobs and yanking the country out of its worst economic slump in decades. The pandemic has pulverised Spain’s tourism-dependent economy, with the government warning Tuesday that GDP would fall by 11.2 […]
Stocks swooned. The S&P 500 closed down 1.4 percent. More importantly, Trump’s move threatens to hobble an already stumbling recovery, swelling the ranks of the 26 million relying on jobless assistance while leaving struggling Americans in increasingly desperate straits as unemployment benefits dry up and bans on evictions and utility […]
(Bloomberg) — Europe may be staring down the barrel of its worst recession in living memory, but its market for initial public offerings has held up well thus far, all things considered. “This is a very healthy IPO market given that we are in an economic recession,” said Manuel Esteve, […]
As the economy recovers from the Covid crisis and we approach the November elections, Americans are confused about where the economy is heading. Stock prices are up sharply from their March lows, yet many small businesses and those who lost their jobs are in dire straits. Understanding where we stand […]
By BARRY HATTON, Associated Press LISBON, Portugal (AP) — Spain’s prime minister unveiled a major plan Wednesday to boost his country out of recession by spending 140 billion euros ($162 billion) of European Union aid to reshape the economy, with the aim of creating 800,000 jobs over the next three […]
Donald Trump’s position on an economic aid package was already a mess. As of three weeks ago, the president was telling the public that a proposal from congressional Democrats was both too generous and not generous enough. He simultaneously said he stood with Republicans, whose plan he opposed. The president […]
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By Stephanie Copeland, Alex Flachsbart, Colin Higgins, and the Sorenson Impact Center Birmingham, Alabama Getty Images The way Americans work and live is facing a once-in-a-lifetime challenge in the form of simultaneous crises of public health, the economy, climate change, and racial justice. Our response will shape generations of American […]
Walt Disney Co. chairman Bob Iger has quit Gov. Gavin Newsom’s economic recovery task force, a Disney spokesperson confirmed Thursday evening. Load Error The spokesperson would not say why or precisely when Iger left the task force, but the news comes as the Newsom administration is preparing to release guidance […]
Federal Reserve Chair Jerome Powell has said the Fed is ready to support the economy as a recovery falters. Andrew Caballero-Reynolds/AFP via Getty Images hide caption toggle caption Andrew Caballero-Reynolds/AFP via Getty Images Federal Reserve Chair Jerome Powell has said the Fed is ready to support the economy as a […]
© SCMP Hong Kong leader Carrie Lam (centre) attends a flag-raising ceremony to mark the 71st anniversary of the People’s Republic of China. Photo: Nora Tam Hong Kong’s leader has vowed to be fearless in facing down hostile foreign governments, and said the city must rely on Beijing’s strong backing […]
Sitting atop power transformers are wavy shaped bushing systems that play a critical role in supplying communities with electricity. However, these objects are also susceptible to breaking during earthquakes. Once damaged, bushings can cause widespread outages and burden the state with expensive repairs. In a recent study, Texas A&M University […]
“The jobs number is positive, but it’s flashing warning signs,” said Ernie Tedeschi, a former Treasury Department economist. “It’s decelerating fast, and that worries me. If jobs growth is slowing, it’s going to take us longer and longer to recover from this recession.” The modest gains in jobs were driven […]
Klaus Schwab, founder and president of the World Economic Forum (via) How we choose to address such philosophical quandaries as “What will happen when we discover alien life?” and “What morality allows for a solution to overpopulation?” will be decided in part by the persuasive pitches of researchers looking for […]
Press release from the City of Temecula: Oct. 2, 2020 The U.S. Small Business Administration, Orange County / Inland Empire District Office has selected the City of Temecula’s Office of Economic Development to be honored with a 2020 Community Excellence Award. This award recognizes the creation of an environment conducive […]
© Yahoo News WASHINGTON — As President Trump and Joe Biden debated on Tuesday evening in Cleveland, Steve Bannon was not huddled with other campaign advisers backstage, scrolling nervously through Twitter. Nor was he watching from a flatscreen in the White House. He doesn’t have a West Wing office anymore, […]
As if the president didn’t have enough to worry about Friday, it looks like his economic recovery is sick, too. © Provided by Slate Airline industry workers at a protest in Chicago on Sept. 9. Kamil Krzaczynski/AFP via Getty Images Job growth slowed drastically in September, the Bureau of Labor […]
By David Stanway QINGYANG, China, Oct 1 (Reuters) – Red coal trucks zip up and down narrow dirt tracks, churning up clouds of dust in China’s remote Gansu province. Nearby, the towering stanchions of a new railway bridge rise out of a muddy river winding through the hills. The Huaneng […]
The pandemic continues to decimate the nation’s economy. Real people are in real pain. State and local governments face unprecedented budget gaps. All eyes turn to Washington, where dysfunction has reigned for months. There’s one last chance before the presidential election to get needed relief to the unemployed, to struggling […]
OTTAWA — The pace of Canada’s economic rebound from the COVID-19 pandemic slowed in July, and maybe even more in August, Statistics Canada says, suggesting the country is in what experts described as a long, choppy path to recovery. © Provided by The Canadian Press Statistics Canada says real gross […]
By Stephen Culp © Reuters/Lucas Jackson New York Stock Exchange opens during COVID-19 NEW YORK (Reuters) – Wall Street closed higher at the end of a whipsaw session on Thursday as investors juggled hopeful and pessimistic news on the progress of stimulus talks Washington amid signs of waning momentum of […]
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ROME (Reuters) – U.S. Secretary of State Mike Pompeo delivered a warning to Italy over its economic relations with China on Wednesday, and described Chinese mobile telecoms technology as a threat to Italy’s national security and the privacy of its citizens. “The foreign minister and I had a long conversation […]
U.S. stock indexes closed higher Wednesday, but booked their worst month since March, as hopes faded for another round of fiscal stimulus from Washington ahead of November’s election. Market participants also were wary of a potentially contested November result following Tuesday’s rancorous first presidential debate. The Dow Jones Industrial Average […]