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US stocks tick higher, as Wall Street coasts following surge
NEW YORK (AP) — U.S. stocks are inching further into record heights Thursday, as Wall Street continues to coast following its rocket ride on hopes for coming COVID-19 vaccines. The S&P 500 was up 0.3% in morning trading, a day after inching up to set another all-time high. The Dow Jones Industrial...
US jobless claims remain high at 712,000 as virus escalates
WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell as the nation celebrated Thanksgiving last week to a still-high 712,000, the latest sign that the U.S. economy and job market remain under stress from the intensified viral outbreak. Thursday's report from the Labor...
California paid $400 million in jobless benefits to inmates
SACRAMENTO, Calif. (AP) — California sent about $400 million in fraudulent unemployment benefit payments to state prisoners, a state official said Tuesday, nearly triple the amount disclosed last week and a number that could grow as a criminal investigation continues. Nine county district attorneys and a...
German unemployment dips despite 2nd partial shutdown
BERLIN (AP) — Germany's unemployment rate dipped in November despite a partial shutdown introduced to halt a sharp rise in coronavirus infections, official data showed Tuesday. However, estimates suggest that the number of companies using a short-term salary support program has risen. The unadjusted...
GAO says weekly unemployment benefits report flawed
WASHINGTON (AP) — A government watchdog has found that the Labor Department’s widely watched weekly unemployment benefits data are providing an inaccurate reading on the number of newly laid off workers because of flaws in the government’s data collection. The Government Accountability Office...
This Week: Construction spending, Fed survey, US jobs report
A look at some of the key business events and economic indicators upcoming this week: EYE ON CONSTRUCTION U.S. construction spending has been mostly rising this year after a spring swoon caused by the economic fallout from the pandemic. Spending fell in March, April and May and has notched gains every month...
The Latest: Biden urges Americans to forgo big Thanksgiving
WASHINGTON (AP) — The Latest on President-elect Joe Biden (all times local): 3:30 p.m. A big Biden family Thanksgiving is off the table for President-elect Joe Biden because of the pandemic. In remarks billed as a Thanksgiving address to the nation, the Democrat urged Americans to “hang on”...
Editorial Roundup: US
Excerpts from recent editorials in the United States and abroad: ___ Nov. 25 The Baltimore Sun on toilet paper purchases during the pandemic: You’ve got packages of toilet paper stacked in your bathroom closet. And some stashed in the basement. But then you throw some more rolls into your grocery cart,...
Picture of US economy is worrisome as virus inflicts damage
WASHINGTON (AP) — Gripped by the accelerating viral outbreak, the U.S. economy is under pressure from persistent layoffs, diminished income and nervous consumers, whose spending is needed to drive a recovery from the pandemic. A flurry of data released Wednesday suggested that the spread of the virus is...
California OK'd aid in name of Scott Peterson, other killers
SACRAMENTO, Calif. (AP) — California's system for paying unemployment benefits is so dysfunctional that the state approved more than $140 million for at least 20,000 prisoners, local and federal prosecutors said Tuesday, detailing a scheme that resulted in claims filed in the names of well-known convicted...
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