NEW YORK (REUTERS) – The US dollar fell for a third straight session on Thursday (Jan 21), with investors seeking out higher-yielding currencies, as a slew of better-than-expected US data and continued optimism about a massive stimulus package spurred hopes
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How Wall Street Reflects the Economy Biden Inherits
What big banks reveal about the economy America’s biggest banks have all now released their financial results for the past year, data that reflect the strange economic situation facing President Biden and his new administration. Parts of the economy are
Banks are starting to release their rainy-day reserves, giving their earnings a boost.
By Emily Flitter Optimism is taking hold among the country’s largest banks. With vaccines beginning to be administered to the most vulnerable Americans and a new round of economic stimulus on the way, banks on Friday revealed that they had
The Week in Business: The Price of Chaos
No one should have been surprised by the violence in Washington this past week, but it was stunning nonetheless. Here’s how the business and tech industries are reacting, and what comes next. — Charlotte Cowles What’s Up? (Jan. 3-9) A
Congress Rushes to Pass Huge Coronavirus Relief Bill
WASHINGTON — Congress was poised on Monday to approve a $900 billion stimulus package that would send billions of dollars to American households and businesses grappling with the economic and health toll of the pandemic. Treasury Secretary Steven Mnuchin said hundreds
Tech stars quit Silicon Valley as politics, pandemic weigh
SAN FRANCISCO (AGENCE FRANCE-PRESSE) – Silicon Valley is seeing departures of some of its high-profile stars as a pandemic-linked shift to remote work and political polarisation have dulled the allure of the key tech industry hub. Nightmarish traffic and high
Fed Closes Out Wild Year as All Eyes Focus on Bond-Buying Program
WASHINGTON — The Federal Reserve is wrapping up what might be the most activist year in its history with a final scheduled policy meeting this week, one at which it is expected to leave interest rates at rock bottom and
Markets cheer Biden victory as hopes rise of trade tension de-escalation
SINGAPORE – For Singapore-based contract manufacturer Watson EP Industries, a Joe Biden presidential victory is a “ray of hope in the time of Covid” as the pressure has eased on its having to move its audio speaker production for the
How the Wealthy World Has Failed Poor Countries During the Pandemic
LONDON — Like much of the developing world, Pakistan was alarmingly short of doctors and medical facilities long before anyone had heard of Covid-19. Then the pandemic overwhelmed hospitals, forcing some to turn away patients. As fear upended daily life,
Stocks Suffer Biggest Weekly Decline Since March as Virus Spreads
Stocks fell on Friday, dropping for the fourth time in the past five days in a retreat that has added up to Wall Street’s worst week since March, as rising pandemic cases, new shutdowns and a sell-off in large technology