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“#Feds to slap accuracy warning on US jobless claim reports” The US Department of Labor will add an accuracy warning to its weekly unemployment reports after a federal watchdog found flaws in how the figures were reported. The agency’s closely watched reports have equated the number of weeks for which Americans claimed unemployment benefits with…
“#S&P Global to buy data provider IHS Market for $44 billion” S&P Global has agreed to buy rival financial data provider IHS Markit for $44 billion in the largest merger deal of the year, the companies announced Monday. The massive all-stock tie-up will create a powerful player in the competitive financial information market by uniting…
“#Nearly one-third of NY, NJ small businesses closed in 2020: report” It has been a bad year for ma and pa. Nearly one-third of small businesses in New York and New Jersey remain closed since January amid the coronavirus pandemic, according to a watchdog. In the Empire State, 27.8 percent of small businesses have not…
“#778,000 workers seek unemployment aid” Some 778,000 American workers applied for unemployment benefits last week as a surge in coronavirus infections kept the labor market’s recovery under pressure, the feds said Wednesday. The latest initial jobless claims reported by the US Department of Labor brought the seasonally adjusted total for the COVID-19 pandemic to about…
“#Time is not on Trump’s side to overturn 2020 election: Goodwin” In calendar time, it’s less than three weeks since the election. In political time, it’s beginning to feel like an eternity. President Trump has every right to pursue substantive court challenges and doing so does not undermine democracy, despite what the left insists. But…
“#Federal Reserve fights Treasury move to end COVID-19 programs” The Trump administration plans to pull the plug on five loan programs that supported the economy during the coronavirus crisis — prompting a rare objection from the Federal Reserve. Treasury Secretary Steven Mnuchin said his department won’t renew the emergency programs — which shored up the…
“#Pershing Square’s Bill Ackman ‘bullish’ on 2021 but sees volatility in coming months” Billionaire hedge fund investor Bill Ackman said Thursday that he expects to see market gains next year but warned there could be volatility in the months ahead as the coronavirus continues to take its toll. Ackman told investors that he’s “happy to…
“#US retail sales hit a wall amid coronavirus surge” The recovery in US retail sales slowed last month as consumers confronted a surge in coronavirus infections and a lack of government aid to see them through the pandemic. Retailers’ total sales rose just 0.3 percent to about $553 billion in October following September’s 1.6 percent…
“#Joe Biden brought in experts to focus on racial gap as he fills posts” President-elect Joe Biden is relying on experts to help his team address racial inequality as he prepares to fill key economic posts. He selected Mehrsa Baradaran, whose book “The Color of Money” focuses on the racial gap. Baradaran is a member…
“#Deutsche Bank proposes tax on people working from home” White-collar staff reaping the financial benefits of working from home should be taxed to help other workers who aren’t getting the same advantages, experts at Deutsche Bank said in a new report. In its report on how to rebuild the economy after COVID-19, the bank proposed…