Tag: sep 22 2020

Deutsche Bank’s U.S. employees working from home can expect to continue the arrangement until at least July 2021, the bank announced. Workers had asked for a clear policy statement, so they can make long-term arrangements regarding child care and other details. In a memo to its staff, the bank acknowledged their “understandable concerns about public...

Almost half of New York City dwellers earning $100,000 a year or more have considered leaving the metropolis during the pandemic because the cost of living there is so high, according to a poll by the Siena College Research Institute. Forty-four percent of the 782 city residents, surveyed in late July, said they had thought...

After closing last spring as the economy shut down, hundreds of U.S. hotels face the prospect of a weak fall and winter traveling season, leaving them without enough cash flow to continue. Almost 24 percent of U.S. hotels’ mortgage payments are at least 30 days late, compared to 1.3 percent at this time last year,...

Remember the lines being played out by politicians and the business media in the early months of the government lockdowns that the economy will come back, and it will be “V- shaped” recovery? As we had forecast in March, the longer and harder the COVID War rages, the deeper the economy will fall and millions...

The official U.S. tally of unemployed workers may be showing millions too many people jobless, due to problems with the Pandemic Unemployed Assistance (PUA) program, which gives aid to gig workers, the self-employed, and others not covered by conventional unemployment insurance. The problem seems to vary by state. Texas’s count of people receiving the program’s...

In August, consumer spending rose 0.6 percent, the fourth consecutive month of increases, but August’s pace of spending was slower than the 0.9-percent increase in July. Still, retail sales were 2.6 percent above those in August 2019. Spending on electronics was up 0.8 percent, clothing sales gained 2.9 percent, and furniture 2.1 percent. Spending at...

The U.S. Federal Reserve will keep interest rates near zero until labor markets tighten and inflation reaches 2 percent and “is on track to moderately exceed 2 percent for some time,” the central bank said in a statement on 16 September. The Fed officials said they expect the benchmark interest rate to stay near zero...

Yesterday, the Dow closed down 510 points, gold prices fell $38 closing at its lowest level since late July, and oil tanked 2.6 percent. The S&P fell 1.2 percent, and the tech-heavy NASDAQ fell 14.48 points. The fear there won’t be another money pumping stimulus from Washington before the election and fears of a second...