Latest Economic policy News
Trump orders encroach on Congress' powers, invite challenges
BEDMINSTER, N.J. (AP) — President Donald Trump has bypassed the nation's lawmakers as he claimed the authority to defer payroll taxes and replace an expired unemployment benefit with a lower amount after negotiations with Congress on a new coronavirus rescue package collapsed. Trump's orders on Saturday...
Saudi Aramco half-year profits plunge 50% from virus impact
DUBAI, United Arab Emirates (AP) — Saudi Aramco's net income plunged by 50% in the first half of the year, according to figures published Sunday, offering a revealing glimpse into the impact of the coronavirus pandemic on one of the world's biggest oil producers. Profits for the first six months of the...
Trump allows some unemployment pay, defers payroll tax
BEDMINSTER, N.J. (AP) — President Donald Trump on Saturday bypassed the nation's lawmakers as he claimed the authority to defer payroll taxes and replace an expired unemployment benefit with a lower amount after negotiations with Congress on a new coronavirus rescue package collapsed. Trump's orders...
The Latest: Brazil surpasses 100,000 deaths from COVID-19
RIO DE JANEIRO -- Brazil has surpassed a grim milestone — 100,000 deaths from COVID-19. And five months after the first reported case, the country is showing no signs of crushing the disease. The nation of 210 million people has been reporting an average of more than 1,000 daily deaths from the pandemic...
US sanctions pro-China leader of Hong Kong, other officials
WASHINGTON (AP) — The U.S. on Friday imposed sanctions on Hong Kong officials, including the pro-China leader of the government, accusing them of cooperating with Beijing’s effort to undermine autonomy and crack down on freedom in the former British colony. The sanctions are the latest in a string...
Q&A: What's up with Trump's orders on TikTok and WeChat?
NEW YORK (AP) — President Donald Trump has ordered sweeping but vague ban on dealings with the Chinese owners of popular apps TikTok and WeChat, saying they are a threat to U.S. national security, foreign policy and the economy. But it's far from clear what the administration intends to actually do when...
S&P 500 ekes out 6th straight gain following jobs report
NEW YORK (AP) — Wall Street’s big rally let off the accelerator on Friday, despite a better-than-expected report on the U.S. job market, amid worries about worsening U.S.-China tensions and whether Washington can deliver more aid for the economy. The S&P 500 inched up 2.12 points, or 0.1%, to...
Canada says it will impose retaliatory tariffs on US imports
TORONTO (AP) — Canada’s deputy prime minister said Friday that the country plans to impose $3.6 billion Canadian (US$2.69 billion) tariffs on U.S. imports in response to President Donald Trump saying the U.S. is reinstating a 10% import tax on Canadian aluminum. Deputy Prime Minister Chrystia...
AP Explains: 5 key takeaways from the July jobs report
WASHINGTON (AP) — A resurgence in COVID-19 cases didn’t shut off the American job creation machine last month — but it did slow it down. Employers added 1.8 million jobs in July, slightly more than had been expected but far fewer than the gains of the previous two months. And while the...
UK to spend millions to ease Brexit red tape for N Ireland
The British government will spend up 355 million pounds ($465 million) to help businesses in Northern Ireland deal with the red tape caused by Brexit, officials said Friday. Brexit’s supporters, including British Prime Minister Boris Johnson, say leaving the European Union will be a boon for U.K....
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