Biden’s big challenge: A growing racial wealth gap

18th November 2020

Black Lives Matter leaders turned out the vote and helped secure President-elect Joe Biden’s victory. Now they want a piece of the political action. POLITICO’s Maya King reports on why that might be tough — especially under a Republican-controlled Senate. “Had it not been for Black people it would have been difficult for [Biden] to […]

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The hangover awaiting Biden: Deep wounds from Covid-19

11th November 2020

The environment could force the Biden team to wait for the Federal Reserve to lead the way just as the central bank did in the past decade — an approach that could again make investors richer, but only slowly help the types of workers Biden wants to support most. The Biden win and vaccine news […]

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Wall Street notches second-best Election Day of trading

6th November 2020

President Donald Trump has repeatedly touted the performance of the stock market as a reflection of his job performance, with the market hitting all-time highs during his presidency. Even after the coronavirus ravaged the economy and caused a painful selloff in March, markets have recovered since then with the S&P 500 and Nasdaq Composite Index […]

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Fox survey finds 63 percent say country heading in wrong direction

5th November 2020

Residents wait in line to vote at a shuttered Sears store in the Janesville Mall on November 03, 2020 in Janesville, Wisconsin | Scott Olson/Getty Images Nearly two-thirds of voters surveyed in early exit polls said the country going in the wrong direction, with the staggering national economy weighing heavily in their decisions. A total […]

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China shapes a new U.S. economic era: The return of industrial policy

4th November 2020

Fears of China’s growing economic might, and America’s dependence on its rival for critical manufacturing and natural resources, are reviving an interest in industrial policy — the use of state power to encourage production on domestic soil, even if it would be cheaper and more efficient to buy products from abroad. Outside a few narrow […]

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S&P 500 sinks 3.5% as surging virus cases lead to shutdowns

31st October 2020

“Many people had come to believe we were at least stable, and now we’re having a second uptick, which throws potential GDP and everything else up in the air,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. ”I did not expect this level of volatility or this degree of a sell-off.” […]

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Retail in NYC gets option of outdoor shopping

30th October 2020

Shops on the same street can also join together and ask the city to close their block to traffic so they can set up in the street. Stores on existing open streets used by restaurants can use that space. But unlike the outdoor dining, retail stores cannot take over parking spaces. What’s next: De Blasio […]

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GDP rebounds at record pace, but dark clouds reappear

29th October 2020

Wall Street is growing increasingly worried about darker days ahead with the Dow tumbling 943 points, or 3.4 percent, on Wednesday on a sharp spike in Covid-19 cases in the U.S. and Europe and the lack of fresh rescue money coming out of Washington. The S&P 500 and Nasdaq also both dropped at a similar […]

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How coronavirus is reshaping America’s job market

23rd October 2020

The widespread displacement of jobs has set off a scramble among workers to find new skills and careers — a situation that also presents a challenge for the government as it seeks to keep people employed and off the relief rolls. House Democrats are exploring pandemic aid that would fund efforts to retrain workers, providing […]

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Trump campaign looks to small victories on trade to win the farmer vote

20th October 2020

“A lot of these are activities that people have been pushing in the past or for a long time are now being touted in the context of the election,” Willems said. The U.S. has been involved in lobster negotiations with Europe since 2018 when former European Commission President Jean-Claude Juncker met with Trump at the […]

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