Dow Closes Above 30,000 For 1st Time As Optimism Rises

The first way is unfolding in the United States- with two promising coronavirus vaccines by Pfizer and Moderna on the cusp of approval- as the Trump administration focuses on domestic distribution from private labs. The other approach comes from China and Russia, which have rushed to share their own state-backed vaccines with nations scrambling for supply,…

President-elect Joe Biden has picked economist Janet L. Yellen, a battle-tested leader who helped the nation recover from the Great Recession, to be U.S. treasury secretary. More recently, Yellen has become a leading voice urging Congress to pass more stimulus aid to prevent lasting damage from the pandemic. Brooklyn- born Yellen is a renowned economist who…

Why horse-trade now, after House Democrats stood firm for months on their $2.2 trillion stimulus plan while obstructionist Senate leader Mitch McConnell wouldn’ t budge from his stingy $500 billion spending limit? The Democrats have refused to compromise progressive principles as they try to mitigate the damage caused by President Trump and the GOP’ s…

If you're inclined to support charities, 2020 could be a special year for that.

Let's be honest: The Democrats and the media want the economy to crash before Joe Biden enters the White House in January. They have been rooting against the economy for four years now. That's half of what the Congressional Budget Office predicted.

Turnbull Capital Group is one player in an increasingly crowded field of capital jockeying for opportunity to take advantage of potential distress that may emerge in the commercial real estate market in the wake of the pandemic. Donald W. Wise, co-founder and senior managing director at Turnbull Capital Group, a commercial real estate investment banking…

SCOPE: Virtual Speech for Greater Winston-Salem Inc. COMMENT: Resurgence of covid-19 cases is likely to depress economic growth until there is widespread distribution of the vaccine.. See: Barkin says early 2021 will be a challenge for the U.S. economy. ANNOUNCEMENT: The Fed will comply with the Treasury Department’s request to repay unused funds to support…

Seven G20 nations record the highest numbers of COVID-19 deaths. The virus “exposed vulnerabilities in our preparedness and response and highlighted our common challenges,” the G20 said in a final statement that focused primarily on combating coronavirus, increasing environmental protections, and supporting the global economy. The G20, which includes the…

President-elect Joe Biden's incoming White House chief of staff Ron Klain said the public can expect “to see the first of the president-elect's Cabinet appointments on Tuesday of this week,” during an interview Sunday on ABC News' “This Week.” With Democrats' ability to pass large parts of their agenda likely hampered regardless of which party ultimately…

Amazon is known for thrashing business models and creating new markets, and a huge opportunity to do it again is just over the horizon, which could sustain its stock growth for years.

Follow live updates from Globe staff and wire reports as Joe Biden has been projected as the winner of the election. President Donald Trump has identified China as the country’ s biggest foe and the Justice Department mirrored that emphasis over the last four years with a drumbeat of cases against defendants ranging from hackers accused of targeting…

Judy Shelton's nomination to the Federal Reserve Board of Governors was blocked in the Senate on Tuesday, with bipartisan opposition to the controversial economist and GOP absences prompted by the coronavirus imperiling her candidacy. Two Republican senators voted against advancing Shelton on Tuesday; a third GOP senator who does not support her, Sen.

Updates with context on Senate control/// Wilmington, USA, 16 Nov 2020- U.S. President-elect Joe Biden said on Monday that the country’s economy needs “rapidly” a stimulus to deal with the effects of the health crisis. Biden, whose presidential victory was not yet recognized by Republican President Donald Trump, spoke after meeting virtually with union leaders and…

U.S. President-elect Joe Biden met monday with the CEOs of General Motors Co. and Microsoft Corp., as well as key union leaders, to discuss how to contain the coronavirus pandemic and revive the economy during his administration. Trade unionists who participated in the conversation include Richard Trumka of the AFL-CIO and Rory Gamble of United Auto Workers.

President-elect Joe Biden will face constraints of both politics and time when it comes to pursuing his aggressive climate-change agenda. Driving the news: Biden will enter a White House after four years of President Trump rolling back climate policies and time running out to substantively address the problem. Where it stands: The highest profile parts of Biden’s agenda, and…

FRANKFURT, Germany – Three of the globe’s top central bankers said the economy continues to need help despite progress toward…

WASHINGTON- The Trump administration on Thursday unveiled an executive order prohibiting U.S. investments in Chinese firms that Washington says are owned or controlled by the Chinese military, ramping up pressure on Beijing after the U.S. election. The move is designed to deter U.S. investment firms, pension funds and others from buying shares of 31 Chinese…

–Fixed income or equity traders who boosted their Wall Street businesses to the best year in a decade will receive juicy bonuses. Projections are even more optimistic than Johnson’s outlook a few months ago, as Wall Street firms continued their momentum in the third quarter and are heading for $100 billion of trading revenue this year. “They had a great year and I…

Expanding action beyond U.S. environmental agencies is one key. President-elect Joe Biden is poised to embed action on climate change across the breadth of the federal government, from the departments of Agriculture to Treasury to State- expanding it beyond environmental agencies to speed U.S. efforts to mitigate global warming and to acknowledge that the…

Buried in the fine print of Signature Bank's third-quarter earnings was a hint of the financial storm that could be about to break over the U.S. economy. The Manhattan bank last month set aside nearly $53 million to cover potential loan losses largely due to the coronavirus pandemic's impact on the U.S. economy. If U.S. banks absorb big losses on their $2 trillion…

Fed governor, appointed by Obama, is in running for Biden's Cabinet. A leading candidate for the post is Federal Reserve governor Lael Brainard, who served as a senior Treasury Department official in the Obama administration. Such a nominee, however, could face difficulty winning Senate confirmation if Republicans retain control after two January runoffs in…

The problem Joe Biden is inheriting is that in places like Michigan, which were crucial to his victory, Trump’s promised recovery increasingly seems like a painful routine. Nationally, polls at the ballot box show that Trump’s appeal is declining among most income groups, a pattern that clearly developed in Michigan. But it was also true in Michigan.

''We are committed to using our full range of tools to support the economy and to help assure that the recovery from this difficult period will be as robust as possible,'' chairman Jerome Powell told reporters after the Fed’ s decision. A divided Congress through at least the end of this year means Powell will keep calling on lawmakers to reach a deal on more fiscal…

Battered by natural disasters and the man-made peril of frivolous and sometimes fraudulent litigation, Florida’s property insurance industry now finds itself burdened by financial losses and seeking rate hikes. Read more..

The Supreme Court will hear oral arguments Tuesday over the future of the Affordable Care Act — the third time in eight years the ACA has been on the brink of life or death at the high court. The big picture: For now, the smart money says that the court is likely to strike down what remains of the law’s individual mandate, but is unlikely to go along with the argument —…

The economic recovery in the United States has moderated and will take time for it to return to the levels of the beginning of the year, and to achieve this will require continued support from both monetary and fiscal policy, said Jerome Powell, chairman of the US Federal Reserve. “The recent increase in new Covid-19 cases, both in the United States and abroad, is…

The likelihood of a Biden presidency and a closely divided Senate means that nothing big is likely to happen in health care for at least the next two years. The big picture: For all the time Democrats spent debating Medicare for All, competing public insurance options and sweeping federal controls over drug prices, the near-term future for health policy will likely be about…

The United States on Tuesday recorded its record for new Covid-19 cases in 24 hours with 100,000 infections, a day after the country’s presidential election, according to the account of Johns Hopkins University, the reference center. With 99,660 cases identified up to 01:30 GMT and more than 233,000 dead, the US country is by far the most affected by the pandemic…

A stimulus package of some sort is still expected to pass, but economists no longer expect it to be more than $2 trillion like it might have been in a “blue wave” scenario, in which Democrats win the White House and the Senate. Stocks soared Wednesday, with the Dow Jones industrial average rising 368 points and the Nasdaq gaining 3.9 percent as Wall Street…

But when Joe Biden was projected on Wednesday to put Wisconsin back in the Democratic column, he was on track to pry back just two of them: Door and Sauk. Indeed, Republicans who yielded their identity as a political party to Trump appear to have won affirmation from some voters. The GOP was poised to maintain its slim majority in the Senate and to gain seats in the…

Merger Agreement With China Oceanwide Holdings Group Co., Ltd Extended To November 30, 2020; Oceanwide Has Made Significant Progress On Transaction Funding U.S. Mortgage Insurance Segment Adjusted Operating Income Of $141 Million Primarily Driven By Lower Levels Of New Delinquencies And Incurred But Not Reported Favorability $26.6 Billion In New…

Detroit, USA), Nov 4.- Michigan Secretary of State Jocelyn Benson said tonight that she hopes she can have a “very clear” picture of the U.S. presidential election in the state, one of the considered key to elucidating the outcome, “in the next 24 hours” so she called for “patience.” In this way, he would surpass the 5 million participation recorded in 2008 in Michigan in the…

Washington, Nov 4.- U.S. President Donald Trump on Wednesday accused the Democratic opposition of “trying to steal” the election, and described the provisional results as a “big win” that could lead to his re-election. “We have a BIG advantage, but they’re trying to STEAL the election. We’ll never let them do it.

Taylor Greene’s victory was expected because she competed unrivalled unrivalled in one of the country’s most conservative districts, but she is notable for being the only one in QAnon’s score of followers who had real options to reach Congress. Bush, a 44- year-old nurse, also made history as the first black woman to represent the state of Missouri in Congress,…

Washington, Nov 4.- U.S. President Donald Trump declared Wednesday that he has won the election even though the recount continues in several key states, and assured that he will resort to the Supreme Court to report an alleged “fraud” against him. Frankly, we’ve won this election, “Trump said from the White House. The key states of Pennsylvania, Michigan, and Wisconsin…

In an encounter with supporters outside the Chase Center in Wilmington, Delaware, he noted that he is optimistic about being able to win Wisconsin and Michigan, although it may “take time” to declare his victory, especially for delays in Pennsylvania.

“A vote is like a rifle,” Theodore Roosevelt observed. “Its usefulness depends on the character of the user.” Before a single vote was cast, no less than the president of the United States repeatedly and shamelessly questioned the legitimacy of any outcome that did not yield a victory for himself.

The two main plaintiffs in the case enrolled in a group universal life insurance policy offered by Metropolitan Life Insurance Co. 20 years ago. The case was dismissed in U.S. District Court for the Southern District of New York as time barred under New York state’ s statute of limitations. Under New York state law, the plaintiffs would have to file their lawsuit“…

On the campaign trail, President Trump liked to boast,“ We built the greatest economy in the history of the world. The truth, of course, wouldn’ t have been as compelling:“ We inherited a solid economy and juiced it with a giant tax cut— until the coronavirus. ” Based on most measures, the economy is worse off now than it was when Trump took office in January 2017, as the…

What would a Joe Biden presidency look like? The Associated Press provides a synthesis of the most likely consequences:. Biden would fund some of its environmental and health proposals by nullating much of the broad tax cuts implemented by Republicans in 2017.

Real gross domestic product surged at a historic 33.1 percent annualized rate in the third quarter, up sharply from a historic 31.4 percent pace of decline in the second quarter. Over the past four quarters, real gross domestic product is still down 2.9 percent, and 3.4 percent, or $659 billion, below the previous expansion trend. On a nominal basis, gross domestic…

When data from the Commerce Department on Thursday reveals how much the economy grew between July and September, it is likely to show the sharpest rise in U.S. history. “Even if we see a 6.7 percent jump in GDP in the third quarter, we have still only gained three-fifths of what we lost this year,” said Beth Ann Bovino, U.S. chief economist at S&P Global Ratings.