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Economy

“China’s new Covid lockdowns are another threat to the economy”

“…Lockdowns in China could further drive up container shipping costs, which remain extremely high, and scramble global supply chains that are still trying to sort through pandemic-related delays.”If there is a case found in the Yantian port [in Shenzhen], then… Continue Reading…

Economy

“Oil drops 10% in worst day of the year as new Covid variant sparks global demand concerns”

“Oil prices tumbled to the lowest level in more than two months Friday as the new Covid-19 strain sparked fears about a demand slowdown just as supply increases. The leg lower came amid a broad sell-off in the market with the… Continue Reading…

Economy

“Boeing, airline stocks tumble as new Covid variant spurs travel curbs”

“Boeing, airlines and other travel stocks tumbled on Friday after several European and Asian countries announced new travel restrictions from southern Africa because of a new Covid variant. The U.K. on Thursday said it would temporarily suspend flights from South… Continue Reading…

Economy

“Washington state projected to get $3.2 billion more in taxes as economy brightens amid COVID-19 recovery”

“Washington’s state tax collections are roaring back, with an estimated additional $3.2 billion projected through 2023 as parts of the economy brighten and people get vaccinated amid the COVID-19 pandemic. Wednesday’s projections by the state Economic and Revenue Forecast Council… Continue Reading…

Economy, Stocks

“Russia Registered a Coronavirus Vaccine. The Market Loves It.”

“Russia says it has registered the world’s first vaccine for Covid-19. There are caveats, but an effective vaccine would be great news for the world… Investors want to believe. Europe’s FTSE 100 index gained 1.4%. Asia’s Hang Seng Index rose 2.1%. The Dow Jones Industrial Average and S&P 500 are up 1.2%… Continue Reading…

Economy

“New York City Reopens After Covid-19 Lockdown”

“As the nation’s largest city began reopening Monday after more than two months of lockdown, New Yorkers expressed trepidation, relief and optimism about this first step toward getting back to business….” https://www.wsj.com/articles/new-york-city-reopens-after-coronavirus-lockdown-11591628818 I got so caught up in penny stocks… Continue Reading…

Business, Stocks

“GE Stock Falls As Coronavirus Cuts Earnings By Nearly $1 Billion”

“General Electric posted bigger-than-expected drops in earnings and revenue for the first quarter, as the coronavirus hit to global commercial air travel stung key businesses. GE stock fell as cash burn was also slightly worse than the industrial giant forecast.… Continue Reading…

Economy

“U.S. Economy May Have Hit the Coronavirus Bottom”

“As the calendar turns to May, we’re likely to see a slow return of growth for some types of economic activity that were wiped out by the coronavirus shutdowns in March and April. That’s the good news. The bad news… Continue Reading…

Economy

“Record government and corporate debt risks ‘tipping point’ after pandemic passes”

“The United States is embarking on a rapid-fire experiment in borrowing without precedent, as the government and corporations take on trillions of dollars of debt to offset the economic damage from the coronavirus pandemic. The federal government is on its… Continue Reading…

Economy

“Coronavirus pushes annual deficit forecasts toward $4 trillion”

“Independent forecasters now expect this year’s budget deficit to nearly quadruple the pre-coronavirus estimate, reaching nearly $4 trillion. That amount of red ink in a single fiscal year would dwarf the deficit peak of $1.4 trillion during the Great Recession… Continue Reading…