US private sector hiring slumped in July, the latest sign of the shaky footing of the world’s largest economy as...
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US President Donald Trump on Wednesday again lashed out at China over the coronavirus pandemic, blaming Beijing for “mass Worldwide killing.” His early morning tweet, which also referred to an unidentified “wacko in China,” was the latest heated rhetoric from the White House, where Trump is making attacks on Beijing a centerpiece of his November reelection bid.“It was the ‘incompetence of China’, and nothing else, that did this mass Worldwide killing,” the president tweeted.The virus first appeared in the Chinese...
The United States threatened Thursday to cut off Beijing-controlled China Telecom from serving the US market because of legal and security risks, the Justice Department announced Thursday.A recommendation by the government’s top departments, including Defense, State and Homeland Security, said that the Federal Communications Commission should “revoke and terminate” all authorizations for the Chinese giant’s US subsidiary, China Telecom (Americas), to provide international telecommunications services to and from the United States.“The Executive Branch agencies identified substantial and unacceptable national security...
The United States announced Friday it has successfully tested an unarmed prototype of a hypersonic missile, a nuclear-capable weapon that...
The United States and Mexico are working on a plan to close their border to non-essential travel due to the coronavirus pandemic, the State Department said Thursday.The move comes as similar measures are expected to come into force along the northern border with Canada by Saturday.Secretary of State Mike Pompeo and Mexico’s Foreign Secretary Marcelo Luis Ebrard Casaubon spoke on “coordinating a plan to restrict non-essential travel across our shared border in response to the COVID-19 pandemic,” State Department spokeswoman...
Leaders of the G7 industrial powerhouses pledged Monday to join forces to halt economic freefall in the wake of the coronavirus pandemic, which they called “a human tragedy.”And US President Donald Trump later acknowledged the American economy “may be” headed into a recession.As the outbreak caused more countries to shut down and brought the global economy to a screeching halt, the leaders stressed the need to join forces and move quickly to address the damage.“The COVID-19 pandemic is a human...
The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday.The world economy is expected to contract by 5.2 percent this year – the worst recession in 80 years – but the sheer number of countries suffering economic losses means the scale of the downturn is worse than any recession in 150 years, the World Bank said in its latest Global...
US scientists have hailed a potential breakthrough in the coronavirus fight after a trial showed patients responding to an antiviral drug, fueling global hopes for a return to normal despite mounting deaths and abysmal economic figures.The news was enough to propel a rebound on Wall Street even after data showed the pandemic had plunged the United States into its worst economic slump in a decade, and Germany predicted its biggest recession since the aftermath of World War II.It came as...
The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday.“It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.With the worldwide economic “sudden stop,” Georgieva said the fund’s estimate “for the overall financial needs of emerging markets is $2.5 trillion.”But she warned that estimate “is on...
US lawmakers urgently negotiating a$1 trillion emergency package to salvage an economy ravaged by the coronavirus missed a Republican-imposed deadline...
The US Justice Department abruptly dropped its criminal case Monday against the company controlled by a confident of Russian President...
The US Federal Reserve will have one job next week: convince the world they are doing everything they can to blunt the coronavirus impact on the economy even if their tools aren’t the best ones for the job.In the eight weeks since Fed Chair Jerome Powell presided over the central bank’s last scheduled policy meeting, the outbreak has transformed the global economy, forcing the Fed to make an emergency half-point cut to its benchmark lending rate and inject $1.5 trillion...
