Gauges Show More Dismal U.K. Data

Aug.11 — The U.K.’s economic misery is set to be revealed over the next two days. Data this morning showed U.K. unemployment falling the most since the global financial crisis. Tomorrow, second-quarter GDP data is expected to plunge to levels last seen in 2003. Bloomberg’s Dani Burger reports on “Bloomberg Markets: European Open.”

Australia Announces JobKeeper Extension During Covid-19

Australia’s Prime Minister Scott Morrison announced an extension and additional 15 billion AUD ($10.8 billion) to the government’s JobKeeper scheme to offer relief for Australians during the coronavirus pandemic. “This is the largest program of this nature the country has ever undertaken,” said Morrision during a news conference with Acting Chief Medical Officer Paul Kelly … Read more Australia Announces JobKeeper Extension During Covid-19

BOE Keeps Rates and QE Unchanged Amid GDP, Unemployment Warning

Aug.06 — The Bank of England left interest rates and asset purchases unchanged and said it doesn’t plan to tighten policy until it’s more certain about the outlook for inflation. Policy makers expect unemployment to rise materially to about 7.5% by the end of the year and said Gross Domestic Product won’t recover to pre-Covid … Read more BOE Keeps Rates and QE Unchanged Amid GDP, Unemployment Warning

Coronavirus: Australia Steps Up On Childcare and Mental Health Support

Australia’s Prime Minister Scott Morrision offered his support to Covid-19 hotspot state Victoria, detailing additional childcare and mental health investments as Australians cope with another lockdown. The prime minister announced millions of dollars in investments in mental health services and platforms like Headspace, Lifeline and Beyond Blue. Victoria’s spiraling Covid-19 outbreak and the closure of … Read more Coronavirus: Australia Steps Up On Childcare and Mental Health Support

House Speaker Nancy Pelosi and Chuck Schumer Negotiate Pandemic Aid Plan

The unemployment aid deal being negotiated by Democratic and Republican lawmakers and the White House could at best maintain U.S. household income at full force, or at worst knock out much of the expected rebound in third-quarter consumer spending. The most likely outcome is a $400-per-week extra federal unemployment benefit, a compromise between Democrat’s proposal … Read more House Speaker Nancy Pelosi and Chuck Schumer Negotiate Pandemic Aid Plan

Euro zone GDP in record slump; inflation ticks up

The euro zone economy recorded its deepest contraction on record in the second quarter, preliminary estimates showed on Friday, while the bloc’s inflation unexpectedly ticked up in July. Subscribe: http://smarturl.it/reuterssubscribe Reuters brings you the latest business, finance and breaking news video from around the globe. Our reputation for accuracy and impartiality is unparalleled. Get the … Read more Euro zone GDP in record slump; inflation ticks up

US economy has worst-ever quarter with epic 32.9% dive in Q2 GDP

Donald Trump’s suggestion that the presidential election be delayed came minutes after news of the sharpest downturn in the US economy since the 1940s. Gross Domestic Product shrunk 9.5 percent in the second quarter, as the country struggles to contain the pandemic. And another 1.4 million Americans filed jobless claims last week. Al Jazeera’s Gabriel … Read more US economy has worst-ever quarter with epic 32.9% dive in Q2 GDP

Big Tech Value: Apple, Amazon, Facebook and Google Worth a Total of $4.8 Trillion

The combined value of Apple, Amazon, Facebook and Google is $4.8 trillion — more than the GDP of Germany and India, respectively. Four Big Tech CEOs — Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, Sundar Pichai of Google and Tim Cook of Apple — are set to answer for their companies’ practices before Congress as a … Read more Big Tech Value: Apple, Amazon, Facebook and Google Worth a Total of $4.8 Trillion

What will Hajj be like during the pandemic? | The Stream

The Islamic ritual of Hajj is expected to begin on July 29, in the midst of a global pandemic, it will look unlike anything the Muslim world has seen before. Saudi Arabia, the location of the holy city of Mecca on which the pilgrimage centres, has said it will allow about 1,000 people to perform … Read more What will Hajj be like during the pandemic? | The Stream

Australia Extends JobKeeper and JobSeeker Programs, Unleashes $14 Billion Jobs Support

Australia’s government will pump a further A$20 billion ($14 billion) into supporting the jobs market as a surge in coronavirus infections threatens to prolong the nation’s first recession in almost three decades. The government’s signature wage JobKeeper subsidy program, which is currently supporting about 3.5 million workers, will be extended by six months until the … Read more Australia Extends JobKeeper and JobSeeker Programs, Unleashes $14 Billion Jobs Support