Tag: Economic Conditions and Trends

Stock Market Jitters Persist After Wall Street’s Worst Drop in 2 Years

Stocks dropped again on Tuesday, and bond yields fell to record lows, as the spreading coronavirus rattled investors concerned that it could hamper global growth. The outbreak, now in its sixth week, has upended expectations that 2020 would be a rebuilding year for the global economy after the disruptions of the trade war between China […]

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Wall Street Wakes Up to Coronavirus

The big surprise was not that global markets fell sharply this week on fears of the coronavirus, but that it took so long for them to wake up to the threat. Before Monday, Wall Street was full of instant experts in epidemiology predicting — on the basis of widely circulated charts showing the number of […]

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Wall Street Is (Finally) Waking Up to the Damage Coronavirus Could Do

ImageA railway station in normally bustling Milan on Monday morning. A surge of coronavirus cases in northern Italy has prompted closings of many public sites and workplaces, and has raised concerns about the economic impact on the country and beyond.Credit…Matteo Corner/EPA, via Shutterstock For weeks, there has been a strange divergence among those trying to […]

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Stock Markets Fall, but Show Signs of Stabilizing

SHANGHAI — Share prices in Asia on Tuesday slid for the second straight day, albeit at a more moderate pace, as investors took their cue from Monday’s sell-offs in Europe and the United States related to the global coronavirus outbreak. The steepest losses in Asia on Tuesday occurred in Japan, where markets were closed for […]

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The Coronavirus Stalls Milan, Italy’s Economic Engine

MILAN — The landmark Duomo Cathedral, its spires towering over Milan, is closed. So is La Scala, Italy’s premier opera house, and the city’s universities and schools. Bars are shuttered at the sacred aperitivo hour. The usually buzzing streets, trams, restaurants and shops are all eerily empty. Private companies, including the insurance giant Generali, the […]

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As Fears of a Pandemic Mount, W.H.O. Says World Is Not Ready

BEIJING — As new cases of the coronavirus spiked on two continents, the World Health Organization warned on Monday that the world was not ready for a major outbreak, even as it praised China’s aggressive efforts to wrest the epidemic under control. After two weeks on the ground in China, a team sent by the […]

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U.S. Stocks Plunge as Coronavirus Crisis Spreads

Stocks on Wall Street plummeted on Monday, following sharp declines in global markets after spreading coronavirus outbreaks in Italy and in South Korea stoked concern among investors about the potential damage they might inflict on the global economy. The S&P 500 dropped nearly 3 percent at the start of trading, after European markets recorded their […]

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On Russia-China Border, Life and Commerce Frozen by Coronavirus

BLAGOVESHCHENSK, Russia — With a contagious illness raging in China, just 600 yards away across the frozen Amur River, the Cathedral of the Annunciation in the Russian border city of Blagoveshchensk thundered with promises of salvation from the plague. “A thousand may fall at your side, ten thousand at your right hand, but it will […]

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Global Stocks Plummet Over Coronavirus Concerns

Spreading coronavirus outbreaks in Italy and in South Korea over the weekend incited broad slides in global stock markets on Monday, as investors appeared to fear that the economic disruption already seen in China might affect other economies as well. Futures markets indicated that Wall Street would suffer a decline of more than 2 percent […]

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Finance Ministers Grapple Over Economic Threat of Climate Change

RIYADH, Saudi Arabia — The United States, under pressure from European countries to address the economic threat of climate change, agreed on Sunday to include a reference to those risks in a joint statement at the conclusion of a meeting of the world’s top economic leaders. The inclusion of the term “climate change” in a […]

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Venezuela’s Socialists Embrace Business, Making Partner of a ‘Parasite’

CARACAS, Venezuela — As Venezuela tumbled deeper into economic crisis in 2017 and its people searched for a way out, one name kept coming up: Lorenzo Mendoza. The family name is universally known in Venezuela. Empresas Polar, the food conglomerate started by Mr. Mendoza’s grandfather, had grown into the country’s largest private company. Its corn […]

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Kanye, Out West

CODY, Wyo. — It’s surprising that a global celebrity who frequently self-identifies as the greatest artist living or dead has become an everyday presence in a tightly connected town of about 10,000 people. It’s more surprising just how much the town’s leaders want him to stay. There Kanye West is at the McDonald’s, the Best […]

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Paraguay’s Response to Modernist Architecture? Clay, Mud and Timber

UNTIL LESS THAN a century ago, the Ayoreo peoples of Paraguay lived nomadically in the Chaco, a hot, dry region of savannas and thorn forests covering nearly 200 million acres spread across western Paraguay, southeastern Bolivia, northern Argentina and a small fringe of southern Brazil, a region once known by the Spanish as the infierno […]

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Donald Trump Is Going to India to Find Himself

“I love Hindu,” Donald Trump proclaimed during his presidential campaign in 2016. That adoration of India’s majority population, and America’s richest and most obviously pro-Trump minority, may have just gotten deeper. On his first visit to India next week, Mr. Trump claims, he has been promised a welcoming crowd of “10 million” by the country’s […]

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Nevada Caucuses Arrive as the State Is Booming. But Will Trump Get the Credit?

HENDERSON, Nev. — The signs of Nevada’s resurgent economy are everywhere in this community outside Las Vegas, the fastest-growing city in one of the country’s fastest-growing states. New housing developments are spilling up the mountainsides, filled with families and retirees fleeing California and the East Coast for sunshine, cheaper land and lower taxes. Warehouses are […]

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Surging Dollar Reflects the Standout U.S. Economy

The dollar climbed to its highest level in years this week, a reflection of the standout status of the American economy against a global backdrop clouded by the coronavirus. Pessimistic economic updates from Japan, Britain and Germany have only added to the uncertainty created by the coronavirus, which all but idled China’s economy for weeks. […]

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As China Fights the Coronavirus, Some Say It Has Gone Too Far

SHANGHAI — China’s business leaders know better than to argue with Beijing. Leave the politics to the Communist Party, they long ago concluded, and the government will let them make money in peace. A vicious viral outbreak has upended that formula. China’s typically supercharged economy has ground to a near standstill as the authorities battle […]

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California Governor Declares Homelessness ‘a Disgrace’

SAN FRANCISCO — With tens of thousands of people living on the streets of California, the homelessness crisis has become the state’s defining issue. On Wednesday, Gov. Gavin Newsom went so far as to devote his entire annual state of the state address to the 150,000 Californians without homes. “Let’s call it what it is: […]

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Fed Focused on Coronavirus Fallout at January Meeting

WASHINGTON — Federal Reserve officials left interest rates unchanged at their January meeting as the economy grew steadily, but they spent their meeting reviewing risks to the outlook — including fresh concerns about the coronavirus that had begun to take hold in China. Minutes from the Fed’s Jan. 28 and 29 meeting showed that officials […]

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Coronavirus Epidemic Keeps Growing, but Spread in China Slows

HONG KONG — Chinese officials hailed recent figures as evidence that the spread of the coronavirus epidemic has slowed, and World Health Organization officials said on Tuesday that China’s strict limits on its people’s movements have helped. But the outbreak and its death toll continue to grow, the picture outside China has grown steadily more […]

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Pessimistic Outlook in Russia Slows Investment, and the Economy

MOSCOW — Last year, Russia set a goal to quicken its economic expansion — to grow faster than the world as a whole — as a way to secure the country’s position as a dominant global power. So far, the plan is off to a sputtering start. President Vladimir V. Putin’s proposal, which struck some […]

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HSBC Plans to Cut 35,000 Jobs as Challenges Mount in Asia

HONG KONG — HSBC plans to cut 35,000 jobs over the next three years as the global bank struggles to revive a business that has come to depend increasingly on China for growth. The London-based bank said on Tuesday that it aimed to cut $4.5 billion in costs as it faces headwinds that include the […]

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Coronavirus Empties European Cities of Chinese Tourists

PARIS — The line in front of the Louis Vuitton store was barely a line by Paris standards: only 10 people. All were Asian and many spoke in Chinese, with one couple dictating Mandarin into a smartphone and waiting for the answers in French. “Sometimes, the line’s been even shorter recently,’’ Yasmine Ben, who works […]

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