Economy

Deal set on frontline worker pay, insurance for unemployment

Deal set on frontline worker pay, insurance for unemployment

Minnesota leaders struck a multibillion-dollar deal Wednesday night that aims to stave off tax hikes on state businesses while sending direct checks to workers on the front lines of the pandemic. The tentative deal includes $500 million for workers such as nurses, long-term care employees and others who continued to go to work in person …

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Once Wall Street's stars, Big Tech falls back to Earth

Once Wall Street’s stars, Big Tech falls back to Earth

NEW YORK (AP) — After years of screaming higher, almost regardless of what the economy was doing, tech-oriented stocks are tanking and dragging down the rest of Wall Street. Many of these high-profile companies are still making billions of dollars in profits, and they continue to dominate the top of the rankings for most valuable …

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China in 'deep crisis', says Hong Kong private equity chief

China in ‘deep crisis’, says Hong Kong private equity chief

The founder and chair of one of Asia’s biggest private equity investors has criticized the Chinese government for policies that he says have resulted in a “deep economic crisis” comparable to the global financial crash. Weijian Shan, whose group PAG manages more than $50bn, said his fund had diversified away from China and was being …

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Anxious Fed set for historic measure to try to curb inflation

Anxious Fed set for historic measure to try to curb inflation

TThe Federal Reserve is set to take its most aggressive action in decades to rein in inflation when it meets this week — a move that would have implications for the entire economy. The Federal Open Market Committee, which dictates the country’s monetary policy and is led by Fed Chairman Jerome Powell, is expected to …

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Yen Hits New 20-Year Low After Bank of Japan Reinforces Low-Rate Policy

Yen Hits New 20-Year Low After Bank of Japan Reinforces Low-Rate Policy

TOKYO—The yen weakened to more than 130 to the dollar on Thursday for the first time since April 2002, after the Bank of Japan reinforced its commitment to low interest rates despite rising inflation. “While central banks in the US and Europe are moving toward monetary tightening or rate increases, the Japanese economy is still …

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Four small business owners share how they made it through the pandemic

Four small business owners share how they made it through the pandemic

Ninety-nine percent of America’s businesses are small, and they account for 50% of the country’s jobs. Small businesses are the lifeblood of our communities, they keep them vibrant and give them character. In early 2020, the economy was strong, and these businesses were thriving. Nobody could have predicted their fortunes would change overnight when the …

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Opinion |  The US Wants to Tackle Inflation.  Here's Why That Should Worry the Rest of the World.

Opinion | The US Wants to Tackle Inflation. Here’s Why That Should Worry the Rest of the World.

Conditions are now ripe for the Fed to precipitate another global crisis. Of particular concern are extremely high levels of emerging-market debt. The International Monetary Fund estimates that about 60 percent of low-income developing countries are experiencing debt distress or are close to it. Sri Lanka’s recent default may be the first domino to fall. …

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White House touts 'small business boom' ahead of midterm elections, despite high inflation, gas prices

White House touts ‘small business boom’ ahead of midterm elections, despite high inflation, gas prices

Fox News contributor and The King’s College business and economics professor Brian Brenberg slams Biden for making Americans cope with inflation. Facing the prospect of a shellacking for his party in the upcoming midterm elections amid high inflation and gas prices, President Biden is touting a “small business boom” coming out of the pandemic and …

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Key Piece Intensifying As Home Prices Rise

Key Piece Intensifying As Home Prices Rise

Chatter about a housing bubble has grown increasingly loud amid surging home prices and dwindling demand. Housing-bubble collapses across history have seen three main elements: an economic downturn, higher rates, and lower demand. With new-home sales fresh off a four-month low, at least one piece of that equation appears to be intensifying. Loading Something is …

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