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WASHINGTON, United States (AFP) — New jobless claim filings in the United States fell to 837,000 last week seasonally adjusted, the Labor Department said Thursday, resuming their downward trajectory after increasing slightly earlier in the month. Initial claims fell by 36,000 over the previous week’s level, however the number of people filing under Pandemic Unemployment Assistance (PUA) program for workers who aren’t normally eligible rose by more than 34,000 to 650,120. The data is also […]
by Hiroshi HIYAMA / Kyoko HASEGAWA Agence France Presse TOKYO, Japan (AFP) — Trade on Tokyo’s stock markets, which are among the world’s biggest, was halted for the entire day Thursday after the system was hit by one of the worst glitches in its history. A “hardware failure” created problems with the delivery of market information, operator Japan Exchange Group (JPX) said in a statement. “TSE (Tokyo Stock Exchange) is currently planning to replace the […]
HONG KONG, China (AFP) — Asian markets tumbled Thursday following another sharp sell-off on Wall Street as investors were bombarded by a perfect storm of problems including rising virus infections, new lockdowns, a slowing economic recovery, stalled US stimulus talks and election uncertainty. Months of mind-boggling gains in global equities have come to a juddering halt this month, with expectations that the wall of cash from governments and central banks would jumpstart a rebound […]
(Eagle News) — President Rodrigo Duterte has urged leaders of Congress to craft legislation that will address red tape and corruption to help boost business confidence in the country amid the pandemic, his spokesperson said. Presidential Spokesperson Harry Roque said that President Duterte had a meeting with the leaders of both the Senate and the Lower House on Wednesday night, Sept. 16, where they talked about the concerns of businessmen and investors regarding doing […]
SYDNEY, Australia (AFP) — Australia’s unemployment rate fell slightly to 6.8 percent in August, spurring hopes that the worst of a coronavirus-fuelled recession may have passed. The country’s statistical agency said Thursday that unemployment had fallen 0.7 points from the 7.5-percent rate posted in July, with the economy adding 111,000 more jobs. Australia is experiencing its first recession in almost 30 years, prompting the government and central bank to embark on a vast stimulus spending […]
by Neil SANDS WELLINGTON, New Zealand (AFP) — New Zealand’s economy plunged into recession for the first time in a decade on Thursday, posting a record contraction in the June quarter due to the coronavirus pandemic, as Prime Minister Jacinda Ardern heads into next month’s general election. “The 12.2-percent fall in quarterly GDP is by far the largest on record in New Zealand,” the national statistics agency said. The reporting period covers April to June, […]
NEW YORK, United States (AFP) — Wall Street stocks resumed their downward slide Thursday, while the pound dropped further amid a fight between Britain and the European Union on Brexit legislation. After an early advance that built on Wednesday’s winning session, US stocks stumbled, finishing solidly lower. The pullback came as a trimmed-down US relief package failed to pass the Republican-led Senate. The $500 billion package marked a dramatic reduction from the $3 trillion bill […]
TOKYO, Japan (AFP) — Japan’s economy shrank slightly more than initially thought in the April-June quarter, official data released Tuesday showed, deepening a contraction that was already the worst in the nation’s modern history. The world’s third-largest economy shrank 7.9 percent in the second quarter of this year from the previous quarter, more than the initial 7.8 percent in the preliminary data, the Cabinet Office said. The downward revision comes with corporate investment weaker […]
TOKYO, Japan (AFP) — Japan’s economy shrank slightly more than initially thought in the April-June quarter, official data released Tuesday showed, deepening a contraction that was already the worst in the nation’s modern history. The world’s third-largest economy shrank 7.9 percent in the second quarter of this year from the previous quarter, more than the initial 7.8 percent in the preliminary data, the Cabinet Office said. The downward revision comes with corporate investment weaker than […]
(Eagle News) — The headline inflation in the Philippines eased to 2.4 percent in August, from 2.7 percent in the previous month, bringing the year-to-date inflation for 2020 at 2.5 percent, according to the Philippine Statistics Authority (PSA). Inflation in August last year was lower at 1.7 percent. Malacanang immediately issued a statement saying that the easing of the inflation last month was a “positive development.” -Gradual re-opening of economy leads to decrease in food […]
SYDNEY, Australia (AFP) — Australia has entered its first recession since 1991 after the economy shrank 7 percent in the second quarter, official figures showed Wednesday, as the country reels from the coronavirus pandemic. The Australian Bureau of Statistics said it was the fastest quarterly contraction on record and ends a three-decade run of economic growth that was undented even by the global financial crisis. The bureau’s head of national accounts, Michael Smedes, said the […]
PARIS, France (AFP) — Brazil and India reported historic second-quarter drops in national economic output this week, a situation seen in almost all leading global economies owing to the coronavirus pandemic. Only China, where the outbreak was first reported, has escaped a recession. Here are second-quarter changes in gross domestic product (GDP) compared with the previous quarter for many of the world’s top economies. Unless stated otherwise, the figures are from the national statistics […]
