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'This is incredibly cruel:' Experts say Trump's move to end stimulus negotiations could hurt millions of Americans on unemployment and set back the economy

22 days ago   |   By Business Insider

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President Donald Trump abruptly pulled the plug on negotiations for another coronavirus spending package on Tuesday, all but ending the prospect of additional federal relief before the November election.
The announcement on Twitter sparked a sharp drop in the stock market, with the Dow Jones industrial average immediately erasing gains finishing the day 376 points lower. The delay in the arrival of pandemic aid raises the prospect of more small business failures, particularly among restaurants. The National Restaurant Association said 40% of restaurant owners would...
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Trump calls off stimulus package talks, meaning Americans likely won't receive a $1,200 stimulus checks before the election

Trump calls off stimulus package talks, meaning Americans likely won't receive a $1,200 stimulus checks before the election

22 days ago   |   By Business Insider

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Americans will not receive any additional economic relief - neither stimulus checks nor expanded unemployment benefits - until at least after the November election, US President Donald Trump announced in a social media post on Tuesday.
Insisting that Democrats only want to "bailout poorly run, high crime, Democrat states," Trump said on Twitter that he would no longer negotiate with them over another stimulus package. Indeed, he insisted that the economy is "doing very well," despite there being 10.7 million fewer jobs today than there were six months ago, and said...
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US jobless claims aid fall to 751,000, virus resurges

US jobless claims aid fall to 751,000, virus resurges

WASHINGTON - The number of Americans seeking unemployment benefits fell last week to 751,000, the lowest since March, but it's still historically high and indicates the viral... Read more ...

Jeremy Corbyn has been suspended from the Labour party

Jeremy Corbyn has been suspended from the Labour party

Summary List Placement Jeremy Corbyn, the former Labour leader, has been suspended from the party. It follows the publication of a damning report into antisemitism within the... Read more ...

United Airlines will trial free COVID-19 tests for passengers flying from...

United Airlines will trial free COVID-19 tests for passengers flying from New Jersey to London, and anyone that refuses won't be allowed on board

Summary List Placement United Airlines will trial free COVID-19 tests for passengers flying from the US to the UK, becoming the first airline to do so, it announced Thursday... Read more ...

U.S. Economy Grows At Record Pace But Still Has A Long Way To Go

U.S. Economy Grows At Record Pace But Still Has A Long Way To Go

U.S. GDP grew at a record 33.1% annualized pace in the third quarter, erasing some but not all of the damage done by the coronavirus recession. (Image credit: Reed... Read more ...

LVMH has agreed to buy Tiffany & Co at a $400 million discount on the...

LVMH has agreed to buy Tiffany & Co at a $400 million discount on the original price, ending a bitter dispute. It's still the luxury sector's biggest-ever deal

Summary List Placement After a bitter dispute including two lawsuits, confusion over a French government letter, and a public war of words, French luxury goods conglomerate... Read more ...

Dow falls 200 points as record GDP growth and encouraging jobless claims...

Dow falls 200 points as record GDP growth and encouraging jobless claims fail to soothe trader nerves

Summary List Placement US equities slid on Thursday, even as economic data pointed to a stronger-than-expected pace of recovery. The US economy grew at a record 33.1%... Read more ...

US GDP surged a record 33% in the 3rd quarter as the economy reopened...

US GDP surged a record 33% in the 3rd quarter as the economy reopened, roughly double the next-biggest jump

Summary List Placement Just as the coronavirus' toll drove a record plunge in economic output , the US's summer recovery fueled the largest-ever jump in gross domestic... Read more ...

Oil hits lowest since June, as tougher European lockdown rules and a fuel...

Oil hits lowest since June, as tougher European lockdown rules and a fuel surplus wipe 10% from the price in two days

Summary List Placement Oil tumbled to its lowest level in nearly five months on Thursday, as a swathe of new lockdown rules around Europe and a persistent overhang in US... Read more ...

Biden calls son Hunter ‘smartest guy I know' as brother refuses to talk...

Biden calls son Hunter ‘smartest guy I know' as brother refuses to talk business deals

Joe Biden is shrugging off a torrent of new allegations linking him to his family's corrupt business practices, calling his son “the smartest guy I know” - as his brother... Read more ...

27 biotech execs who've sold the most stock

27 biotech execs who've sold the most stock

Summary List Placement Hello, If taking on a surge in coronavirus cases wasn't enough, US hospitals are facing cyberattacks from Russia, which could be massively disruptive... Read more ...