WASHINGTON — President Biden and his top economic aides brushed aside criticism from Republicans on Friday about the administration’s $1.9 trillion stimulus package and vowed to forge ahead with the proposal, saying the bill was critical for a flagging economic recovery and overwhelmingly popular with voters. The comments came as Mr. Biden was briefed by […]
‘The entire community is outraged’ Robinhood had to raise $1 billion from investors yesterday to help it cover cash demands during the week’s trading frenzy, while traders and lawmakers sharply criticized the online broker for halting some trading in Reddit-touted stocks. In short: The consequences of the mania in GameStop, AMC and other stocks are […]
(Reuters) – Visa Inc beat Wall Street estimates for quarterly profit on Thursday, as its customers shopped online during Christmas and New Year holidays, driving a recovery in payment volumes from the coronavirus-induced slump.FILE PHOTO: Visa credit cards are seen in this picture illustration taken June 9, 2016. REUTERS/Maxim Zmeyev/IllustrationA surge in online shopping helped […]
(Reuters) – McDonald’s Corp expects overall sales growth in the “low double digits” in 2021, forecasting on Thursday that an increase in its U.S. market would be offset by the impact of the COVID-19 pandemic in parts of Europe.Slideshow ( 4 images )The Chicago-based hamburger chain missed Wall Street estimates for profit and revenue in […]
By Neal E. Boudette General Motors said Thursday that it aimed to phase out gasoline-powered cars and trucks and sell only vehicles that have zero tailpipe emissions by 2035, one of the most significant environmental commitments made by a large automaker. The announcement is part of a broader plan by the company to become carbon […]
G.D.P. grew in the fourth quarter but isn’t back to pre-pandemic levels. 2019 Q4 LEVEL $20 trillion +1.0% Q3 to Q4 15 10 Gross domestic product, adjusted for inflation and seasonality, at annual rates 5 ’15 ’16 ’17 ’18 ’19 ’20 2019 Q4 LEVEL $20 trillion +1.0% Q3 to Q4 15 10 Gross domestic product, […]
(Reuters) – Wall Street’s main indexes rose on Thursday, as a reversal of declines in mega-cap technology stocks helped investors look past data which showed another sharp contraction in the U.S. economy.FILE PHOTO: Traders wearing masks work,on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid/File […]
WASHINGTON — The number of Americans applying for unemployment benefits fell but remained at a historically high 847,000 last week, a sign that layoffs keep coming as the coronavirus pandemic continues to rage. Last week’s claims dropped by 67,000, from 914,000 the week before, the Labor Department said Thursday. Before the virus hit the United […]
The nervousness and caution that persisted this week, for the first time in a long while, caught up with the New Zealand sharemarket which fell more than two per cent following a plunge on Wall Street. The main board was a sea of red as the S&P/NZX 50 Index slumped 287.54 points or 2.15 per […]
Trustpower says a strategic review of its retail business is driven by a plan to grow its generation base, but it will not sell at any price. The Tauranga-headquartered company announced on Thursday it had retained Forsyth Barr to seek interest in its mass customer business and whether it could operate as a standalone generation […]