Sunday, 25 October 2020

‘Morning Joe’ Speculates Trump May Quit Before He Gets Fired

President Donald Trump hates being thought of as a loser, but maybe he wouldn’t mind being known as a quitter. That’s what “Morning Joe” host Joe Scarborough wondered on Friday in light of the president’s recent racially charged rallies and his administration’s latest attempt to overturn the Affordable Care Act….

Charting the Global Economy: That’s Not a V-Shaped Recovery

It’s tempting to take the recent rebound in business confidence and activity measures as a sign that the global economy is well on track to make up for its coronavirus-induced losses — except it’s misleading evidence. Here are some of the charts that appeared on Bloomberg this week, offering insight…

Stocks dive on coronavirus spike, Fed’s cap on shareholder payouts

Wall Street’s major indexes dropped on Friday as the US set a new record for a one-day increase in coronavirus cases and bank stocks tumbled after the Federal Reserve decided to cap shareholder payouts. The S&P 500 banks sub-index declined 5 percent after the Fed limited dividend payments and barred…

Unilever to halt US ads on Facebook, Twitter

Brands pulling ads from Facebook want to be practical, not political: Edelman CEO Edelman CEO Richard Edelman provides insight into the Facebook ad boycott. Consumer goods giant Unilever will halt U.S. advertising on Facebook Inc. and Twitter Inc. for at least the remainder of the year, citing hate speech and divisive content on the platforms, a significant escalation in…

Chinese Professor Found Guilty in U.S. of Economic Espionage

A Chinese professor was found guilty by a judge of trade-secret theft and and an even more serious and rarer charge of economic espionage, marking the latest conviction in the Trump administration’s pursuit of Chinese scientists and engineers. At an unusual in-person courtroom hearing Friday during the coronavirus pandemic, a…

Zimbabwe Halts Stock Exchange, Mobile Money to Steady Currency

Zimbabwe suspended all monetary transactions on mobile-phone platforms and halted trade on the local stock exchange in an effort to stabilize its currency. The measures come two days after President Emmerson Mnangagwa warned his government will tackle “malpractices” that he said have undermined his government’s efforts to end an economic…

Councilman demands booze bill break for struggling NYC restaurants

A New York City councilman wants state officials to give restaurants a break on strict rules for ordering booze that are weighing on their reopening plans. Manhattan Councilman Keith Powers urged the State Liquor Authority to temporarily lift rules that have landed legions of eateries on a “delinquent list” amid…

House Passes Police Reform Bill

House of Representatives has passed Democrats’ sweeping Police Reform Bill despite its bleak future as the Repulicans and President Donald Trump are against it. The lower chamber, where the Democrats have majority, voted 236-181 in favor of the legislaton with three Republicans crossing party lines Thursday night. The passage of…

U.S. Consumer Spending Rebounded in May While Incomes Fell

U.S. consumer spending surged by a record in May — while remaining well below pre-pandemic levels — as Americans spent relief payments and ventured out of their homes to newly reopened stores and restaurants. Household outlays rose 8.2% from the prior month, the sharpest increase in more than six decades…