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Economy

2020 ends with unexpected job losses, raising worries about a longer economic winter

December saw 140,000 jobs lost, the first drop in seven months. Low-wage service workers again felt the biggest hit.Read More



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L.A. Times - Business

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California hospital lobbyist sees Capitol clout rise amid New! 2021-01-26 08:00:20Carmela Coyle, who represents California's hospitals in the state Capitol, is a power player that has helped shape the state's response to the crisi

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California officials say unemployment fraud now totals more 2021-01-25 18:37:27In addition to the confirmed fraud, the state has stopped tens of billions of dollars in payments on bogus claims through tougher security measures, o

Matthew Perry downsizes, sheds Malibu beach house for 2021-01-25 17:30:20'Friends' star Matthew Perry just sold his Malibu beach house for $13.1 million a few months after paying $6 million for a place in the Palisades.

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Disneyland to make the Jungle Cruise more inclusive 2021-01-25 16:00:57One of the remaining opening-day attractions Walt Disney oversaw himself, the Jungle Cruise will return with less racially insensitive depictions of o

Shaq sells Bell Canyon retreat for $1.85 million 2021-01-25 15:41:49Basketball great Shaquille O'Neal just sold his Bell Canyon retreat filled with custom artwork for $1.85 million.

Kobe Bryant's business empire remains expansive — and 2021-01-25 13:23:41In the roughly four-year stretch between Kobe Bryant's retirement and his death in 2020, he built a wide-ranging business portfolio that lives on.

Economy

November home prices rose 9.5%, one of the New! 2021-01-26 10:13:36Strong growth in home prices is showing no signs of abating, thanks to high buyer demand and a record low supply of homes for sale.

Jobless claims show modest decline as Congress works 2021-01-21 09:24:29Jobless claims for the week ended Jan. 16 totaled 900,000, the Labor Department reported, slightly better than the Wall Street estimate of 925,000.

Spike in lumber and land prices causes homebuilder 2021-01-20 11:31:33The rising costs of getting homes built is making builders less optimistic.

Weekly mortgage refinance demand drops 5% after rates 2021-01-20 07:00:01Several weeks of rising rates are dousing what was incredibly high demand for refinancing, according to Mortgage Bankers Association data.

Powell sees no interest rate hikes on the 2021-01-14 16:02:54Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery.

Jobless claims surge to highest weekly total since 2021-01-14 11:10:29First-time jobless claims totaled 965,000 last week, the Labor Department said, well above the Dow Jones estimate of 800,000.

The unemployment rate is above 20% for the 2021-01-13 17:31:43Federal Reserve Governor Lael Brainard said the figure underscores the importance of policy help for the economy.

Mortgage refinance demand spikes 20% as borrowers fear 2021-01-13 07:00:14After setting more than a dozen record lows last year, mortgage rates began 2021 on an upward climb. That lit a fire under borrowers hoping to refinan

Americans spent a record online over 2020 holidays, 2021-01-12 10:22:28Online shopping over the 2020 holidays in the United States grew 32.2% from 2019s, totaling $188.2 billion, according to Adobe Analytics.

Economy sees job loss in December for the 2021-01-08 12:49:10Nonfarm payrolls fell by 140,000 in December, the Labor Department said, against the Dow Jones consensus estimate for a 50,000 gain.

Here's where the jobs are — in one 2021-01-08 12:21:02The leisure and hospitality industry saw outsized job losses thanks to a torrent of layoffs at bars and restaurants.

Weekly jobless claims little changed despite signs that 2021-01-07 09:23:43Weekly claims totaled 787,000 last week, below the Wall Street estimate for 815,000.

NYT > Economy

New unemployment claims remain high in the latest 2021-01-21 17:58:42

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President Biden will ask for new workplace coronavirus 2021-01-21 13:47:10

How Our Unemployment Benefits System Failed 2021-01-21 05:00:22A decline in funding and changes in the workplace — and how long people are out of work — have left a program unequal to the 21st-century

The Business Rules the Trump Administration Is Racing 2021-01-20 05:30:00From tariffs and trade to the status of Uber drivers, regulators are trying to install new rules or reduce regulations before President-elect Joe Bide

Is Rivian the Next Tesla? Investors Bet Big 2021-01-19 18:24:28Rivian, which has raised another $2.65 billion, plans to sell a pickup truck and S.U.V. it has worked on for more than a decade.

U.S. Bans All Cotton and Tomatoes From Xinjiang 2021-01-19 15:26:45The sweeping ban, which was based on concerns about forced labor in the region, could compel companies to reorganize their multinational supply chains

The Most Important Thing Biden Can Learn From 2021-01-18 17:58:08A “hot” economy with high deficits didn’t cause runaway inflation.

How Full Employment Became Washington’s Creed 2021-01-18 15:29:21Policymakers are eager to return to the period of low unemployment that preceded the pandemic and are less concerned than in previous eras about spark

When Will Interest Rates Rise? Fed Chair Says 2021-01-17 14:26:46Jerome H. Powell, chair of the Federal Reserve, said the central bank remained far from dialing back support for the economy.

Is Inflation About to Rise? That's the Wrong 2021-01-16 05:00:08Some analogies can help in assessing the risks: a yo-yo, hungry bears, a sloshing bathtub and a reflating balloon.

‘We Need to Stabilize’: Big Business Breaks With 2021-01-15 18:55:33Low taxes and light regulation made the party popular with corporate America for decades. President Trump and his supporters have frayed those bonds.

Business - The Huffington

762,000 Pounds Of Hot Pockets Recalled For Potential 2021-01-17 07:22:13Nestlé has received at least one report of a “minor oral injury” associated with consumption of the pepperoni-flavored product.

Pivotal Union Election Moves Ahead At Amazon Warehouse 2021-01-15 15:45:29The workers will soon determine whether the retail giant has its first unionized facility in the U.S.

Coal Company Officials Plead Guilty After Hiding Black 2021-01-13 13:46:25So far three former officials with Armstrong Coal have acknowledged their part in a fraud made public by HuffPost.

YouTube Suspends Trump's Channel For At Least A 2021-01-13 04:41:34Trump's social media activity is being curtailed after a mob of his supporters, urged on by his rhetoric, stormed the Capitol last week.

Sheldon Adelson, GOP Megadonor Who Founded Las Vegas 2021-01-12 08:20:18The casino mogul, whose billions gave him enormous influence with President Donald Trump and other Republican politicians, was 87.

More Former United Way Employees Say They Experienced 2021-01-11 05:45:11In a letter to the nonprofit’s boards of trustees, more than 20 women said misconduct is commonplace at the organization.

In Wake Of Prop 22, Albertsons Shifting In-House 2021-01-07 15:51:08Unions representing the grocery chain's workers say the decision will drive down wages and make the work less stable.

Child Labor In Palm Oil Industry Tied To 2020-12-29 10:30:45“I am dreaming one day I can go back to school," said a 10-year-old Indonesian girl who works at a palm oil plantation that helps produce the c

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IMF revises India growth forecast, sees GDP shrinking New! 2021-01-26 08:31:15Expects economy to grow 11.5% next year, which could slightly correct govt's fiscal mathematics

Red Fort breached, internet put off: Farmers' tractor New! 2021-01-26 08:17:19TV news channels flashed images of farmers hoisting flags at Red Fort in the heart of Delhi, with hundreds of them deviating from agreed routes

Delhi-NCR has most stuck housing units at 190,000 New! 2021-01-26 08:00:32The units were delayed by at least seven years, according to property consultant Anarock

LIVE: Farmers hoist flags at Red Fort, cops 2021-01-26 06:07:45Farmers' protest LIVE updates: Protesting farmers drove their tractors to Red Fort complex

India's GDP to contract 8% in fiscal year 2021-01-26 05:15:05India's gross domestic product (GDP) is expected to contract by 8 per cent in 2020-21, according FICCI

Akshay Kumar launches PUBG rival multi-player mobile action 2021-01-26 04:14:59On the occasion of Republic Day, Akshay Kumar launched the mobile action game 'Fearless and United Guards (FAU-G).

RBI proposals to restrict land financing by NBFCs: 2021-01-26 04:09:19The Reserve Bank's proposals on restricting specific real estate funding by NBFCs will affect land financing by them, the report said

Coronavirus LIVE: India reports 9,102 cases, 117 deaths 2021-01-26 03:29:13Coronavirus LIVE updates: India continues to be second-most-affected globally, and ranks 13th among worst-hit nations by active cases

DATA STORY: India adds 9,102 Covid cases, fewer 2021-01-25 23:59:17Global tally has topped 100 million, of which 11% cases are in India; at 117, India's single-day toll is the lowest since May 16

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India's aim of doubling renewable power by 2022 2021-01-25 22:07:13For investments to rise more, though, the country may need to fix its ailing power distribution sector

PM Narendra Modi's govt should not back down 2021-01-25 21:52:38What's at risk isn't just a couple of laws, but India's commitment to the transition to a more environmentally sustainable and equitable growth mod

Insider.pro

Signal Develops Crypto Payments: Report New! 2021-01-26 13:04:29 Marlinspike declined to confirm the upcoming crypto-related system, but noted the company had done some design explorations.

South Africa Wants to Tighten Crypto Regulation New! 2021-01-26 12:19:07 The county's watchdog is considering imposing stricter rules for digital assets.

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