US Fed pledges long-term support

The US central bank has pledged to continue its support for the US economy for several years, as households and businesses slowly recover from the impact of the coronavirus pandemic.   Most Federal Reserve leaders said they expected to keep interest rates near zero for at least the next three years.   Fed Chair Jerome […]

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Bank of England warns on threats to UK economy

The Bank of England has warned that the rising rate of coronavirus infections and a lack of clarity over the UK’s future trade relationship with the EU could threaten the economic recovery.   It said much of output lost during lockdown had been recovered but the outlook remained “unusually uncertain”.   The UK is still […]

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US budget deficit hits $3tn record

The US budget deficit has hit a record high of more than $3tn, driven by the government’s massive spending on coronavirus relief.   The federal government spent more than $6tn in the first 11 months of its financial year, including $2tn on coronavirus programmes, the Treasury Department said.   The figure outpaces the $3tn it […]

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China accuses US of bullying its tech firms

China has taken aim at the US saying its tech firms are victims of “naked bullying”.   The accusations come as the Chinese government launches a new set of global guidelines for technology companies.   Its new initiative outlaws illegally obtaining people’s data and large-scale surveillance.   Last month a similar data privacy effort was […]

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US to block key exports from Chinese region, Xinjiang

The US is to block key exports from China’s Xinjiang region due to allegations that they are produced using forced labour.   The proposed bans include cotton and tomato products which are two of China’s major commodity exports.   The Trump administration has been ratcheting up pressure on China for its treatment of Xinjiang’s Uighur […]

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US unemployment rate falls below 10%

The US unemployment rate fell sharply in August, as some firms began to hire new staff again and temporary hiring for the US census boosted job numbers.   Businesses added 1.4 million new jobs and unemployment fell below 10% for the first time since the pandemic began.   It is the fourth month in a […]

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Alliance to End Plastic Waste outlines investment targets

The Alliance to End Plastic Waste and its members have invested at least $400 million of their $1.5 billion commitment in environmental projects since forming early last year, according to their latest progress report.   The alliance, which is funded by large global consumer goods, plastics and waste management firms, said the coronavirus pandemic has […]

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