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News
  • Apr 8,2021
    Jeff Hyman and Chris Baldry respond to an article on how the US is strengthening its unions. Plus Keith Flett on the role Labour could playMartin Kettle’s review of Joe Biden’s approach to economic regeneration (In the US, Joe Biden is backing the unions. Britain can only look on in envy, 7 April) was welcome, but we question whether it went far enough in its endorsement or reach. The success of...
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  • Apr 8,2021
    Rolling live coverage of business, economics and financial markets as US stocks hit record highUK construction expands at fastest pace since 2014 All-time high for US S&P 500 after Fed gives support Australia considering financial support for GFG steel companiesAsos triples profits as pandemic proves positive 3.11pm BST A central conundrum facing economists and politicians around the world is...
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  • Apr 8,2021
    After Biden’s stimulus, the era of small states, low taxes and balanced budgets suddenly looks to be over A wealth tax to help pay for the cost of fighting the pandemic. An international agreement to prevent a race to the bottom on corporate tax. An insistence that recovery from the second severe crisis in just over a decade should be green and inclusive. A conviction that governments should spend...
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  • Apr 7,2021
    Jamie Dimon says in shareholder letter economy on edge of ‘Goldilocks moment’ but upbeat news comes with caveatsThe US is about to enter a post-pandemic boom, according to JP Morgan boss Jamie Dimon, even though it has been “torn and crippled by politics, as well as racial and income inequality.” Related: Banks pledge to fight climate crisis – but their boards have deep links with fossil...
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  • Apr 4,2021
    President proposes environmental measures and tax risesMississippi governor cites Green New Deal, a GOP bogeyRepublicans opposed to Joe Biden’s proposed $2tn infrastructure bill claimed on Sunday that it was effectively a partisan tax hike that allocated too much money to electric vehicles and other environmental initiatives. Related: Florida faces 'imminent' pollution catastrophe from phosphate...
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  • Apr 4,2021
    To European eyes, the $2tn infrastructure plan may not be exceptional, but for America it seems revolutionaryFrom a European perspective, Joe Biden’s plans for a $2 trillion boost to spending on infrastructure is not a radical statement of intent. The money will be spread over eight years and raise the federal budget on capital projects by about 1 percentage point a year.And the US is starting from...
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  • Apr 4,2021
    Under Trump, every week was infrastructure week but nothing got done. His successor is avoiding the big sell. It’s smart politicsJoe Biden is embarking on the biggest government initiative in more than a half-century, “unlike anything we have seen or done since we built the interstate highway system and the space race decades go”, he says. Related: Biden’s $2tn infrastructure plan aims to ‘finally...
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  • Apr 3,2021
    Officer killed in attack identified as William ‘Billy’ EvansFull report: one officer and suspect dead after car rams into barrierCapitol police lifts lockdown two hours after vehicle attackVaccinated Americans can travel, CDC saysEconomy adds 916,000 jobs as vaccine rollout fuels hiring boomSign up to receive First Thing – our daily briefing by email 1.13am BST Thanks for reading along today....
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  • Apr 2,2021
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  • Apr 2,2021
    Unemployment at 6% as businesses reopen and hire workersData shows 30% of Americans have had at least one vaccine shotThe US labor market went on a hiring spree in March, adding 916,000 jobs amid the fast-paced coronavirus vaccine rollout. Related: Biden set to talk up economic resurgence after promising jobs news – US politics live Continue reading...
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  • Apr 1,2021
    The president is trying to show America – and the world – that government is still capable of doing big thingsPresident Joe Biden is governing like a man in a hurry. Three weeks ago, he persuaded the US Congress to pass his $1.9tn Covid stimulus package. This week, he began the task of building congressional support for an even larger jobs and infrastructure renewal plan. The package is worth at...
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  • Mar 29,2021
    Liquidation of Bill Hwang’s Archegos Capital Management sparked a fire sale of more than $20bn assetsOpinion: banks will be prompted to check hedge fund exposuresFinancial regulators across the world are monitoring the collapse of the New York-based billionaire Bill Hwang’s personal hedge fund.The sudden liquidation of Hwang’s Archegos Capital Management sparked a fire sale of more than $20bn...
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  • Mar 24,2021
    If economies recover and stimulus turbocharges pent-up demand, a lot of bank credit could result from central bank moneyThe increasing risk of a return of inflation in the US and Europe is beginning to galvanise debates among economists. One key source of inflation fears is the expectation that, once the Covid-19 pandemic has been overcome by vaccines, pent-up demand will explode in an orgy of consumption....
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  • Mar 21,2021
    It’s a step forward that Uber drivers must now be treated as employees, but there’s still a long road to travelPutting the brakes on the gig economy is a good thing. Bingeing on something commonly makes you feel ill. But in the case of the stratospheric growth in online services and the deleterious effect of this on stressed-out, poorly paid workers, overindulging makes others sick.From Australia...
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  • Mar 21,2021
    The second Gilded Age has wrought havoc on American society. The battle in Alabama offers hope to us allThe most dramatic change in American capitalism over the last half-century has been the emergence of corporate behemoths like Amazon and the shrinkage of labor unions. The resulting imbalance has spawned near-record inequalities of income and wealth, corruption of democracy by big money and the abandonment...
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  • Mar 17,2021
    Rolling coverage of the latest economic and financial newsLatest: Wall Street at record closeJerome Powell dampens talk of taperingFed predicts US will grow 6.5% this yearMajority of Fed policymakers still don’t expect rate rise before end 2023Powell: Love to see faster European growth, and smoother vaccine rollout 8.58pm GMT Actually, here’s one more comment from Unigestion’s Cross Asset Solutions...
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  • Mar 16,2021
    President visits unionized, Black-owned company to highlight how $1.9tn package will lift small businessesJoe Biden stopped by a unionized, Black-owned flooring company in the battleground state of Pennsylvania on Tuesday to highlight how the provisions of his $1.9tn coronavirus relief package will help lift small businesses hurt by the pandemic, part of a cross-country campaign to promote the first...
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  • Mar 14,2021
    The White House is putting government at the heart of the post-Covid economic bounce-back. The implications affect us allDuring the pandemic, the world has been dazzled by the huge sums that governments have been willing to spend propping up their economies. Britain has spent £407bn in support measures, more than 40% of normal government spending in an entire non-Covid year. The European Union has...
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  • Mar 14,2021
    When I was labor secretary welfare ended but now it’s back and three-quarters of Americans – and many Republicans – approveA quarter-century ago, I and other members of Bill Clinton’s cabinet urged him to reject the Republican proposal to end welfare. It was too punitive, we said, subjecting poor Americans to deep and abiding poverty. But Clinton’s political advisers warned that unless he...
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  • Mar 13,2021
    The president’s $1.9tn stimulus package should lift US GDP by up to 4% – and thus buoy up the whole of the global economyUS president Joe Biden did the world a favour last Thursday when he signed a bill handing $1.9 trillion (£1.4tn) of rescue funds to state and federal agencies, millions of students and workers and the US vaccination programme.The money will appear first as cheques landing on...
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  • Jan 1,1970
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