China's economy remains resilient despite external risks, says Xi

FILE PHOTO: Chinese President Xi Jinping arrives for the meeting to commend role models in China’s fight against the coronavirus disease (COVID-19) outbreak, at the Great Hall of the People in Beijing, China September 8, 2020. REUTERS/Carlos Garcia RawlinsBEIJING (Reuters) – China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi […]

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What TikTok’s Ban Means for Retail

With the U.S. Department of Commerce’s bombshell announcement on Friday, ordering app stores to remove ByteDance’s TikTok and Tencent’s WeChat on Sunday, it looks like time’s running out for the apps. And for the partners that rely on them. The essential details in the latest techno-political drama: Current users won’t see the app disappear from their handsets, so they can […]

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Fed's new framework met with a confused shrug by the public: survey

WASHINGTON (Reuters) – The Federal Reserve hopes a new strategy rolled out last month will sink deep into the minds of the U.S. public, be well understood to involve higher inflation in the future, and prompt people to act accordingly.FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah MillisWill it? “No, […]

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First round of $300 Lost Wages Assistance payments headed to Coloradans

After a week dogged by tech glitches, Colorado’s unemployment officials sent their first batch of Lost Wages Assistance program payments out Thursday. By Friday afternoon, thousands of Coloradans could start receiving their first lump payments through the federal program, state officials say. The program, abbreviated LWA, was set up to give eligible unemployed people an extra $300 per week in […]

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U.S. current account deficit surges 52.9% in second quarter

FILE PHOTO: A container ship is shown at port in Long Beach, California, U.S. July 16, 2018. REUTERS/Mike BlakeWASHINGTON (Reuters) – The U.S. current account deficit soared to its highest level in nearly 12 years in the second quarter as the COVID-19 pandemic weighed on the exports of goods and services. The Commerce Department said on Friday the current account […]

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TikTok, WeChat begins Sunday in U.S.

WASHINGTON — The Commerce Department will roll out a ban of transactions in the U.S. using TikTok and WeChat starting Sunday. The order Friday was put into place, according to Commerce Secretary Wilbur Ross, to “combat China’s malicious collection of American citizens’ personal data.” The government previously said that using and downloading the app to communicate won’t be a banned […]

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Milan judge seizes 2.3 million euros from Novartis in fraud probe

MILAN (Reuters) – A Milan judge has seized 2.3 million euros ($2.7 million) from pharmaceutical multinational Novartis NOVS.S as part of a fraud investigation, a document seen by Reuters shows.FILE PHOTO: The company’s logo is seen at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland, November 28, 2019. REUTERS/Arnd WiegmannThe money has been sequestered […]

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Unemployment Claims Dip, but Layoffs Remain a Worry

“I’m concerned about a plateau,” one economist said, pointing to a slower phase of the recovery after a hiring bounce in the spring. By Nelson D. Schwartz and Gillian Friedman The number of Americans filing for unemployment benefits fell last week, but employers continue to lay off workers at an extraordinarily high pace that exceeds the worst levels of past […]

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