Tag: Economic Conditions and Trends

Stock Markets Edge Lower: Live Business Updates

Here’s what you need to know: Markets enter the second half of 2020 on uncertain footing. U.S. stock futures edged downward on Wednesday as investors started a new quarter on a cautious note, balancing tentative signs of economic resilience and a steady climb in coronavirus cases in the United States. European markets were modestly lower, […]

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N.Y.C.’s Budget and a Cut to N.Y.P.D. Funding, Explained

ImageCredit…Diana Zeyneb Alhindawi for The New York Times New York City’s budget process isn’t usually this heated. As the city slowly reopens during the coronavirus pandemic, Mayor Bill de Blasio and other officials are facing a gloomy fiscal reality and demands from protesters against police brutality to slash the Police Department’s funding. I asked my […]

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$1 Billion Is Shifted From N.Y.P.D. in a Budget That Pleases No One

New York City officials on Tuesday agreed to a grim coronavirus-era budget that will sharply curtail municipal services, impose a hiring freeze and, in a move meant to placate calls to defund the police, shift $1 billion from the Police Department. The $88.1 billion budget reflected the economic shutdown that followed the outbreak, causing a […]

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$1 Billion Is Shifted From NYPD in a Budget That Pleases No One

New York City officials on Tuesday agreed to a grim coronavirus-era budget that will sharply curtail municipal services, impose a hiring freeze and, in a move meant to placate calls to defund the police, shift $1 billion from the Police Department. The $88.1 billion budget reflected the economic shutdown that followed the outbreak, causing a […]

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Live Stock Market Tracker: Mnuchin and Powell Talk Fed Response

Here’s what you need to know: Watch live: Jerome Powell and Steven Mnuchin testify. Video Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome H. Powell will discuss their views on economic recovery to House lawmakers.CreditCredit…T.J. Kirkpatrick for The New York Times The Treasury secretary and the Federal Reserve chair differ on recovery time. Treasury […]

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Stock Markets Whipsaw as Investors Watch Outbreaks

Here’s what you need to know: ImageVoting in municipal elections in Paris on Sunday.Credit…Christophe Ena/Associated Press Europe seesaws after significant losses in Asia. Major European stocks were modestly higher on Monday amid volatile trading, paving the way for a turbulent day on Wall Street. Stocks in France were down nearly 1 percent in morning trading […]

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Coronavirus Is Battering Africa’s Growing Middle Class

NAIROBI, Kenya — James Gichina started out 15 years ago as a driver shuttling travelers from the airport, worked his way up to safari guide, and with the help of some bank loans, bought two minivans of his own to ferry vacationers around. His clients were, as he is, members of Africa’s growing middle class […]

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Live Stock Market Tracker: Fed’s Dividend Cap Hits Banks

Here’s what you need to know: Stocks slide as economic fears resurface on Texas closures. Stocks slid Friday, with losses accelerating after Texas said it would reinstate some measures aimed at curbing the coronavirus outbreak there, a move that added to investors’ concerns that a recent spike in cases would put a halt to the […]

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Still Reeling From Oil Plunge, Texas Faces New Threat: Surge in Virus Cases

HOUSTON — Things were looking up for Texas in recent weeks. Oil prices had managed an impressive rebound, more than doubling to just above $40 a barrel. Restaurants and small businesses were opening up in Houston, Dallas and elsewhere. And tens of thousands of people were getting back to work. But a recent surge in […]

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For North Korea, Blowing Hot and Cold Is Part of the Strategy

SEOUL, South Korea — One of North Korea’s favorite geopolitical strategies has long been compared to dipping alternately in pools of scathingly hot and icy cold water in a public bathhouse. ​Just a week ago, Kim Yo-jong, the only sister and key aide of North Korea’s leader, Kim Jong-un, threatened to ​kill the country’s agreement​s​ […]

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Live Stock Market Updates During the Coronavirus Pandemic

Here’s what you need to know: ImageQingdao Port, China, last year.Credit…Stadt Qingdao, via Associated Press Markets rise after Trump’s reassurance that China trade deal is safe. Global markets rose on Tuesday, following President Trump’s reaffirmation of the trade war truce between the United States and China after a top adviser’s comments threw it in doubt. […]

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Stock Markets Waver as New Infections Rise: Live Updates

Here’s what you need to know: ImageFumigating to prevent the spread of the coronavirus at a residential compound in Beijing on Sunday.Credit…Kevin Frayer/Getty Images Global markets move cautiously on signs of new infections around the world. European markets were mostly unchanged on Monday, as hopes for reopening economies vied with persistent worries about the ability […]

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Why Japan’s Jobless Rate Is Just 2.6% While the U.S.’s Has Soared

TOKYO — When the coronavirus hit Japan, Mari Nagata, a single mother who works in a restaurant, had a lot of worries. Her children’s school closed, and she feared what would happen to them if she got sick. But there was one thing that Ms. Nagata, unlike millions of service industry workers in the United […]

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Stock Markets Calm Down After a Wild Few Days: Live Updates

Here’s what you need to know: ImageTravelers at Beijing’s international airport on Wednesday.Credit…Agence France-Presse — Getty Images Global stocks stabilize after several days of turbulence. Global stock markets rose modestly on Wednesday, after several days of turbulence fueled by a cascade of news about the coronavirus and its impact on the global economy. European stocks […]

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Stock Markets Jump Globally After Wall Street’s Rally: Live Updates

Here’s what you need to know: ImageSentiment in financial markets has been unsteady in recent days as traders on Wall Street have confronted new worries about the pandemic.Credit…Sasha Maslov for The New York Times Global markets jump after Wall Street’s late surge. Markets jumped around the world on Tuesday, one day after U.S. Federal Reserve […]

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Live Market Tracker: Stocks Wobble as New Outbreaks Emerge

Here’s what you need to know: ‘Much more will be needed,’ a Federal Reserve official says. Image“We can’t wait 10 years for an economic recovery to reach everyone,” said Mary Daly, the president of the Federal Reserve Bank San Francisco.Credit…Ann Saphir/Reuters A Federal Reserve official recommended further government spending to help ensure that the recovery […]

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Victor in Syria’s War, Bashar al-Assad Faces Economic Meltdown

BEIRUT, Lebanon — President Bashar al-Assad, who has mostly won Syria’s civil war, now faces an acute economic crisis that has impoverished his people, brought about the collapse of the currency and fueled a rare public rift in the ruling elite. Government salaries have become nearly worthless. Protests against falling living standards have broken out […]

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China’s Economy Faces Another Hurdle: Darkened Movie Theaters

SHANGHAI — To the long list of obstacles holding back the Chinese economy when the world needs it most, add one more: padlocked movie theaters. The country’s more than 12,000 cinemas have remained stubbornly closed. Reopening them is politically difficult, as the order to keep them shut came from none other than Xi Jinping, China’s […]

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Stock Markets Tumble as New Outbreaks Loom: Live Updates

Here’s what you need to know: ImageAn electronic board showing the movement of stocks in Tokyo on Monday.Credit…Eugene Hoshiko/Associated Press Global markets tumble, and Wall Street faces a tough opening. Global markets tumbled on Monday on renewed fears of more coronavirus outbreaks, setting the stage for sharp losses when Wall Street opens later in the […]

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A Stimulus Backlash Delivers a Global Warning: Value Female Workers

SYDNEY, Australia — Shelley Duggan became an essential worker when Australia declared that her job at a suburban child care center must be preserved so that doctors and nurses would have a place to send their children during the coronavirus outbreak. Australia even made child care free, subsidizing wages and leading Ms. Duggan to believe […]

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Virus Exposes Weak Links in Peru’s Success Story

LIMA, Peru — President Martín Vizcarra followed the best advice when the coronavirus arrived in Peru. He ordered one of Latin America’s first and strictest lockdowns, and rolled out one of the region’s biggest economic aid packages to help citizens stay home. He shared detailed health data with the public, rushed to add hospital beds […]

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The Post-Coronavirus Global Hunger Crisis

ImageA child in line for food in Mudzi, Zimbabwe, in February. In countries already besieged by climate crises and economic instability, the pandemic is making hunger much worse.Credit…Tsvangirayi Mukwazhi/Associated Press ROME — The coronavirus pandemic and its punitive economic effects are about to set off the next global hunger crisis. In the last four years, […]

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Lebanon’s Currency Plunges, and Protesters Surge Into Streets

BEIRUT, Lebanon — A new wave of anti-government protests erupted across Lebanon on Thursday with people blocking roads, burning tires and chanting against the political elite amid a deepening economic crisis. The protests, in a number of cities and in multiple parts of the capital, Beirut, did not appear to be coordinated, but broke out […]

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Live Stock Market Tracker and Economy Updates

Here’s what you need to know: Another 1.5 million filed new state unemployment claims last week. ImageSemaj Watts of Las Vegas was furloughed in April from her social media job with the Girl Scouts. She returned to work at the end of May.Credit…Bridget Bennett for The New York Times The Labor Department said Thursday that […]

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Jobless Claims in the U.S. Set to Rise

Here’s what you need to know: ImageA barber shop in Bellmore, N.Y., on Wednesday.Credit…Al Bello/Getty Images New jobless claims are expected to reflect continuing layoffs, even as reopening proceeds. Another huge weekly batch of new unemployment claims is expected to be reported on Thursday by the Labor Department. Economists surveyed by Bloomberg estimated that 1.6 […]

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As Energy Prices Tumble, Developing Countries Trim Subsidies

The coronavirus pandemic has sent economies into recession and reduced government revenue, so some countries are taking a politically perilous path: removing restraints on electricity and petroleum prices. Nigeria and Tunisia have lowered fuel subsidies in recent weeks, and India has raised taxes on gasoline and diesel fuel. Sudanese officials plan to replace some subsidies […]

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China’s Push to Empower Street Vendors for ‘Stall Economy’ Ignites Debate

Xie Yiyi lost her job last Friday, making the 22-year-old Beijing resident one of millions of young people in China left unmoored and shaken by the coronavirus. So that same day, heeding the advice of one of China’s top leaders, she decided to open a barbecue stall. Many people in China would say selling spicy […]

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As Virus Infections Surge, Countries End Lockdowns

NEW DELHI — At Nigambodh Ghat, the oldest cremation grounds in India’s capital, the bodies keep coming. One ambulance arrives with five inside. Then another. Then another, in an endless display of death. As the coronavirus pandemic surges in New Delhi, a public health care system that was already strained might be reaching its breaking […]

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Stock Markets Brace for a Forecast From the Fed

Here’s what you need to know: ImageRush hour on a subway car in New York last week.Credit…Todd Heisler/The New York Times The global economy faces a severe downturn, O.E.C.D. says. The world economy is facing the most severe recession in a century and could experience a halting recovery as policymakers brace for a potential second […]

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The World Reopens, Despite Skyrocketing Coronavirus Cases

LONDON — Two months ago, when there were roughly one million confirmed coronavirus cases and the primal politics of survival was sweeping the world, shutting down was the order of the day. This week, the number of cases soared past seven million, with 136,000 new infections detected on Sunday alone, the highest single-day total since […]

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For Indian Women, the Coronavirus Economy Is a Devastating Setback

NEW DELHI — Over and over, Seema Munda kept refusing her parents’ pleas to get married. She wanted to be a nurse, not a housewife — and why was employment all right for her brother but not her? So last summer, Ms. Munda lied about where she was going and slipped out of her conservative […]

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