Stocks slumped again on Wall Street Tuesday, driving the S&P 500 down 3%, piling on losses a day after the market’s biggest drop in two years as fears spread that the growing coronavirus COVID-19 outbreak will put the brakes on the global economy.
With much of China’s economy still idled as authorities try to contain an epidemic that has infected more than 75,000 people, millions of companies across the country are in a race against the clock to stay afloat.
Israel and the Palestinian Authority on Thursday appeared to have come to an agreement to end a major trade dispute in which both sides placed sweeping restrictions on some of each other’s goods.
Iranian Supreme Leader Ayatollah Ali Khamenei on Wednesday said the United States will sink like the ‘Titanic,’ blaming it on ‘wealthy Zionist individuals and corporate owners’ who he said controlled the US economy.
The Federal Reserve considers its current policy stance as appropriate ‘for a time’ despite the coronavirus outbreak presenting a new threat to the global economy, minutes of the Federal Open Market Committee meeting held in January revealed on Wednesday.
Suspected Islamic gunmen interrupted a weekly worship service at a Protestant church in northern Burkina Faso, killing 24 people, authorities confirmed late Monday, February 17. Another 18 people were wounded in Sunday’s attack rocking Pansy town in Yagha province, the regional governor said.
The impact of the spreading coronavirus risks bringing to life the worst-case economic scenarios contained in China’s annual banking stress tests. Last year’s exercise envisaged annual economic growth slowing to as low as 4.15% — a scenario which showed that the bad loan ratio at the nation’s 30 biggest banks would rise five-fold. Analysts now say that the outbreak could send first-quarter growth to as little as 3.8%.
The economy took another battering from the consumption tax increase in the last quarter, contracting by the most in more than five years and fueling recession concerns as the widening coronavirus outbreak hits activity.
PM Netanyahu and Economy Minister Eli Cohen appealed to the British government to include Judea and Samaria, the Golan Heights and Jerusalem in the free trade agreement between the two countries, which will come into effect with the completion of Brexit – Britain’s withdrawal from the European Union – in 2021.
The US budget deficit swelled at the beginning of 2020 even as the economy continued to grow at a steady pace.
Employers created more jobs in January than economists expected, with 225,000 workers added to payrolls, the Bureau of Labor Statistics reported, while unemployment ticked up to a still-low 3.6%.
The Trump administration is reportedly considering a novel source of leverage against the European Union in seeking a trade deal: ‘carousel’ retaliation, meaning tariffs applied to a shifting set of products.
Initial jobless claims declined by 15,000 to 202,000 in the week ending Feb. 1, the U.S. Department of Labor announced Thursday.
North Korea’s already tenuous economic lifelines to the outside world are now nearly severed as it seals its borders with China and Russia to prevent the spread of the new coronavirus.
China faced mounting isolation in the face of increasing international travel curbs and flight suspensions on Saturday, as the death toll from a spreading coronavirus outbreak rose to 259.
The latest Congressional Budget Office (CBO) report projects that the federal debt will grow to 98 percent of GDP by 2030, with the economy expanding at an average annual rate of 1.7 percent from 2021 to 2030.
The U.S. economy will grow at a ‘solid’ rate of 2.2 percent this year, the non-partisan Congressional Budget Office forecast on Tuesday, but with federal budget deficits hitting $1.015 trillion.
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu unveiled the “Deal of the Century” peace plan engineered by Trump son-in-law Jared Kushner and his team Tuesday, portending what Netanyahu called a ‘realistic path to a durable peace.’
The Trump Administration may present its ‘Deal of the Century’ to the world as early as next week in a ceremony at the White House to which both Israeli Prime Minister Benjamin Netanyahu and main political rival Benny Gantz of the Blue and White Party have been invited.
China will boost spending on U.S. products in exchange for the rolling back of some tariffs under an initial trade deal signed by the world’s two largest economies on Wednesday, defusing an 18-month row but leaving numerous thorny issues unresolved.