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03.02.2021 / 19:35

Buttigieg says Transportation Dept will push 'bold' thinking

WASHINGTON – Pete Buttigieg, sworn in Wednesday as transportation secretary, urged his 55,000 employees to embrace “imaginative, bold, forward thinking” as the Transportation Department embarks on a vital mission to rebuild America’s infrastructure and foster equality.

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Service sector operates at highest level in almost two years

WASHINGTON – The services sector, where most Americans work, operated in January at the highest level in almost two years.

Usa Washington pandemic economy

Germany says it beat 2020 goal to cut greenhouse emissions

BERLIN – Germany's economy minister says the country beat its target of cutting greenhouse gas emissions by 40% last year compared to 1990 levels.

Peter Altmaier Germany city Berlin Eu 2020 economy Government Coronavirus

PMI: Good bye covid-19 and hello services inflation

Purchasing Managers' Index (PMI) survey. A reading above 50 indicates expansion and below the threshold points to contraction.For now, domestic demand continues to be the driver of this recovery, however, services providers are optimistic about increased output in the coming 12 months.

covid-19 economy

How does Alberta’s economy move forward in the middle of a pandemic?

With some restrictions being lifted and businesses able to reopen next week, what will this mean for Alberta’s economy? Economist Moshe Lander joined Global News Morning Edmonton to talk about whether businesses can recover and what happens if we have to go into lockdown again.

Moshe Lander pandemic economy

Coronavirus impact laid bare as number of Lanarkshire benefit claimants doubles in a year

the Reformer : “We know that Covid-19 has not only caused a public health crisis, but has devastated economies worldwide. Sadly, I know of constituents who have been made redundant, others have lost their local businesses, whilst many have been excluded from UK furlough support – forcing them to apply for out-of-work-benefits, including Universal Credit.

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It's not just GameStop worrying Wall Street about a bubble

NEW YORK – Now, even the pros on Wall Street are asking if the stock market has shot too high.

New York covid-19 pandemic economy

Senate confirms Pete Buttigieg as transportation secretary

WASHINGTON - The Senate has approved Pete Buttigieg to be transportation secretary, the first openly gay person ever confirmed to a Cabinet post. He will be tasked with advancing President Joe Biden’s wide-ranging agenda of rebuilding the nation’s infrastructure and fighting climate change.Buttigieg's nomination received a final 83-13 vote Tuesday in the full Senate, after the 39-year-old former mayor of South Bend, Indiana, and Biden’s one-time rival in the Democratic presidential primaries received bipartisan praise at his confirmation hearing last week. "Mr.

Joe Biden Pete Buttigieg Washington state Indiana city South Bend, state Indiana president economy Department Coronavirus

Euro economy shrank at end of 2020 under pandemic's weight

The European economy shrank by a smaller than expected 0.7% in the last three months of 2020 as businesses in France and Germany weathered a renewed round of anti-COVID-19 lockdowns somewhat better than expected.

China Germany France Eu 2020 pandemic economy

Senate set to confirm Buttigieg for transportation secretary

WASHINGTON – The Senate is poised to approve Pete Buttigieg to be transportation secretary, the first openly gay person ever confirmed to a Cabinet post, tasked with advancing President Joe Biden’s wide-ranging agenda of rebuilding the nation’s infrastructure and fighting climate change.

Joe Biden Chuck Schumer Pete Buttigieg Washington state Indiana city South Bend, state Indiana president economy Department Coronavirus

Health, infrastructure spending highlights of budget FY22: Sitharaman

New Delhi: Scaling up investments on infrastructure and healthcare is the highlight of union budget FY22, finance minister Nirmala Sitharaman said on Monday, explaining how big spending can rev up the economy that is now in a recession.The budget’s goal, the minister said, was to make quality spending that will result in a demand push.“If there are two important features of this budget, it is that we chose to spend big on infrastructure which spans across roads, bridges, ports, power generation and so on. The second feature is to attend to the need of the health sector.

Nirmala Sitharaman city New Delhi economy Government

Biden to meet with Republican senators to discuss COVID-19 relief

WASHINGTON - President Joe Biden is set to meet Monday with a group of 10 Republican senators who have proposed spending about one-third of the $1.9 trillion he is seeking in coronavirus aid, though congressional Democrats are poised to move ahead without Republican support.An invitation to the White House came hours after the lawmakers sent Biden a letter Sunday urging him to negotiate rather than try to ram through his relief package solely on Democratic votes.

Joe Biden Washington covid-19 president economy

Europe's jobless rate steady, but doesn't tell whole story

FRANKFURT – The unemployment rate was steady at 8.3% in December in the 19 countries that use the euro, as government support programs aimed at getting the economy through the pandemic continue to hold down layoffs — for now.

Eu pandemic economy Government Coronavirus

India budget to boost health care spending,

NEW DELHI – India’s government has proposed to increase spending on health care in a $477 billion budget for 2021-22 that promises extra help for weathering the coronavirus pandemic.

Nirmala Sitharaman city New Delhi India economy Government

Lowest paid workers falling 'deeper into poverty and debt' due to Covid pandemic

Britain’s lowest paid workers are most likely to have lost income and increased their debt because of the pandemic, a new study has found.

Britain pandemic economy crisis

Thousands flee Hong Kong for UK, fearing China crackdown

LONDON – Cindy had a comfortable lifestyle in Hong Kong: she owned several properties with her husband, they had a good business going. But last year she made up her mind to leave it all behind and move her family to Britain, and not even a global pandemic was going to sway her decision.

China Britain Hong Kong city Hong Kong pandemic economy Government

Biden warns of growing ‘cost of inaction’ on $1.9T COVID-19 relief plan

WASHINGTON (AP) - President Joe Biden is warning of a steep and growing "cost of inaction" on his $1.9 trillion COVID-19 relief plan as the White House searched for "creative" ways to win public support for a package that is getting a cold shoulder from Senate Republicans.In the age of the coronavirus, it’s not as simple as jumping on a plane to travel the country and try to gin up a groundswell.

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What to watch for in Pennsylvania governor Wolf's budget proposal

Pennsylvania Gov. Tom Wolf (Office of Gov. Tom Wolf)HARRISBURG, Pa. - Gov.

Tom Wolf state Pennsylvania city Harrisburg, state Pennsylvania pandemic economy Government

The 5-minute shopping spree. How robots are turbo-charging your online orders

grew 241 per cent in the second quarter of 2020 compared to the same period the year before.The company is planning to open three new fulfilment centres — a second one in Montreal, and two others in Western Canada.The automated warehouse uses aspects of artificial intelligence, robotics and big data in everything from the website and mobile app to the facility’s robots and finally the routing and logistics to get orders where they’re supposed to go.Humans do the grocery packing, while the robots sort and restock.The process is a prime example of the possibilities offered by automation and innovation. Sobeys’ automated warehouse is the “fourth” industrial revolution in action.

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Biden warns of growing cost of delay on $1.9T econ aid plan

WASHINGTON – President Joe Biden is warning of a steep and growing “cost of inaction” on his $1.9 trillion COVID relief plan as the White House searched for “creative” ways to win public support for a package that is getting a cold shoulder from Senate Republicans.

Joe Biden Washington vaccine economy

Biden, Democrats hit gas on push for $15 minimum wage

WASHINGTON – The Democratic push to raise the federal minimum wage to $15 an hour has emerged as an early flashpoint in the fight for a $1.9 trillion COVID-19 relief package, testing President Joe Biden's ability to bridge Washington's partisan divides as he pursues his first major legislative victory.

Joe Biden Washington city Washington covid-19 president economy

‘Govt’s response to pandemic triggered V-shaped recovery’

K.V. Subramanian said on Friday.India’s approach to the pandemic, as well as the nationwide lockdown was calibrated, Subramanian said.

India pandemic economy Government

Pandemic ends 30-year growth streak for Polish economy

WARSAW – Poland's economy shrank 2.8% during 2020 due to the pandemic, ending three decades of constant growth, according to preliminary figures released by the national statistical office.

Mateusz Morawiecki Poland city Warsaw 2020 pandemic economy growth

Hong Kong’s economy contracts record 6.1% in pandemic year

Hong Kong’s economy shrank by a record in 2020, with the global pandemic dragging down output in a city already reeling from massive political upheaval.Gross domestic product fell 3% in the fourth quarter from a year earlier, resulting in a full-year decline of 6.1%, according to advance estimates from the Hong Kong Census and Statistics Department Friday. The median estimate in a Bloomberg survey of economists was for a 2.1% contraction in the fourth quarter and 6% for the whole of 2020.Hong Kong hasn’t posted back-to-back annual contractions in data going back to at least 1962.

Hong Kong city Hong Kong 2020 pandemic economy

India was only country to announce structural reforms amid COVID-19, says Eco Survey

Economic Survey 2021 mentioned.To prevent coronavirus spread, India announced one of the longest lockdowns in the world in March.

India Spain covid-19 economy Coronavirus

German unemployment steady, but virus having effect on jobs

BERLIN – Germany's job market performed unexpectedly well in January, according to statistics released Friday, though lockdown measures meant to slow the spread of the coronavirus continue to leave their mark on Europe's largest economy.

Germany city Berlin virus economy Coronavirus

Indian economy shrinks 7.7% in fiscal 2020-21 amid pandemic

NEW DELHI – India's economy contracted by 7.7% in the 2020-21 financial year, battered by the coronavirus pandemic, according to a report released Friday.

Nirmala Sitharaman city New Delhi India pandemic economy Coronavirus

Bangladesh sends 3rd group of Rohingya refugees to island

DHAKA – Authorities in Bangladesh sent a third group of Rohingya refugees to a newly developed island in the Bay of Bengal on Friday despite calls by human rights groups for a halt to the process.

county Bay Bangladesh city Dhaka Burma economy Government

Michigan Sen. Peters to lead Dem efforts to expand majority

LANSING, Mich. – Michigan Sen. Gary Peters, who won a tough reelection race in the fall, will lead Democrats' efforts in 2022 to expand their current razor-thin Senate majority.

Chuck Schumer Gary Peters state Nevada state Pennsylvania state Arizona state North Carolina state New Hampshire Georgia state Michigan state Wisconsin city Lansing, state Michigan president economy

GameStop stock price frenzy: What to know

FILE - An exterior view of a GameStop store on July 21, 2020 in Pembroke Pines, Florida. (Johnny Louis/Getty Images)Trading volume has surged in shares of GameStop, AMC Entertainment, as well as Bed Bath & Beyond and BlackBerry, stunning Wall Street firms betting that those stocks would fall.The share prices instead spiked this week as retail investors, spurred by the online Reddit forum WallStreetBets, piled into the stocks.

Johnny Louis state Florida county Pine 2020 pandemic economy

COVID-19 pummels US economy in 2020; performance weakest in 74 years

Washington: The U.S.

Joe Biden Usa Washington 2020 economy Government

US economy shrank in 2020 for first time since Great Recession

WASHINGTON – Stuck in the grip of a viral pandemic, the U.S. economy grew at a 4% annual rate in the final three months of 2020 and shrank last year by the largest amount in 74 years.

Usa Washington 2020 pandemic economy

Biden: 'We can't wait any longer' to address climate crisis

WASHINGTON – In the most ambitious U.S. effort to stave off the worst of climate change, President Joe Biden signed executive orders to transform the nation’s heavily fossil-fuel powered economy into a clean-burning one, pausing oil and gas leasing on federal land and targeting subsidies for those industries.

Joe Biden Washington president economy crisis

Biden pick for transportation, Buttigieg, advances in Senate

WASHINGTON – A Senate panel on Wednesday easily advanced President Joe Biden’s nomination of Pete Buttigieg to be transportation secretary, setting up a final confirmation vote for a key role in Biden’s push to rebuild the nation’s infrastructure and confront climate change.

Joe Biden Pete Buttigieg Washington state Indiana city South Bend, state Indiana covid-19 president economy

German government cuts 2021 economic growth forecast to 3%

BERLIN – The German government on Wednesday revised its growth forecast for this year down to 3% as Europe's biggest economy faces persistent headwinds from the coronavirus pandemic.

Peter Altmaier Germany city Berlin pandemic economy Government growth

Terms for $1,400 stimulus checks could change, what to know

President Joe Biden sits in the Oval Office as he signs a series of orders at the White House in Washington, DC, after being sworn in at the US Capitol on January 20, 2021. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) President Joe Biden on Monday said he was open to negotiating terms for a pending round of economic impact payments, which may indicate that fewer individuals would end up qualifying.While discussing his broader ideas to stimulate the U.S.

Joe Biden Jim Watson Usa Washington president 2020 economy

Amid crisis, Hezbollah 'bank' a lifeline for some Lebanese

BEIRUT – When Lebanon’s financial meltdown began in late 2019, Hassan Shoumar was locked out of his dollar savings like everyone else in the country as banks clamped down with capital controls.

Lebanon city Beirut hospital economy crisis

Budget 2021: 'Tax payers hope no new tax as Covid Cess is introduced'

By Nimish ShahIn light of the recession caused by Covid 19, the issue of growth versus fiscal discipline for framing the Budget 2021 will be the most debated one by the Government and Finance Ministry. The winner is likely to be growth but given the ruling party’s past strong belief on fiscal discipline, it could well be a balancing act.

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Will Covid-19 vaccination roll-out help Indian economy heal?

Covid-19 vaccination rollout, India may expect its wrecked economy to heal after kicking off its nationwide Covid-19 immunisation program that completed 10 days on Tuesday.Health economists believe that India’s vaccination program may help in economic recovery as the situation of women and children expected to improve with health programs resuming after vaccination of health workers and more people joining the workforce.Also Read | The Indian-Americans driving Biden’s agendaAccording to operational guidelines for vaccination issued by the Union health ministry, the Covid-19 vaccine is being offered first to healthcare workers, frontline workers and to persons above 50 years of age.

Usa India covid-19 vaccine economy

Covid-19 vaccinations will power 5.5% global economic growth in 2021: IMF

economic recovery in 2021, the International Monetary Fund forecast Tuesday.After sinking 3.5% in 2020, the worst year since World War II, the global economy will grow 5.5% this year, the 190-country lending organization predicted. The new figure for 2021 is an upgrade from the 5.2% expansion the IMF forecast in October and would mark the fastest year of global growth since the 2010 snapback from the financial crisis.Also Read | The Indian-Americans driving Biden’s agendaThe vaccines should contain the spread of the virus and allow governments around the world to ease lockdowns and encourage a return to normal economic activity.

Usa 2020 vaccine economy growth

Germany: Merkel aide floats long suspension to debt rule

BERLIN – Chancellor Angela Merkel's chief of staff has floated the idea of Germany suspending rules to prevent the government running up new debt for several years as Europe's biggest economy digests the impact of the coronavirus pandemic.

Angela Merkel Germany city Berlin economy Government Coronavirus

Rubbish-covered lake brings to light Balkans waste problem

PRIBOJ – Trucks and building machines are parked on a river dam in southwest Serbia but not for construction work. Instead, huge cranes are being used to clear tons of garbage crammed at the foot of the power plant.

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Covid-19 provided only a brief respite to the environment

At a country level, the pace of the rebound has varied. Some countries, notably China, dealt with the virus early, and kick-started their economy relatively quickly.

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Amid stimulus talks, Biden signs order to help factories

WASHINGTON – Taking whatever steps he can to galvanize the economy, President Joe Biden plans to sign an executive order Monday to boost government buying from U.S. manufacturers as he begins the negotiation process with Congress over a $1.9 trillion stimulus package.

Joe Biden Washington president economy Government

Fed will likely stress commitment to low rates amid pandemic

WASHINGTON – The Federal Reserve this week will likely underscore its commitment to its low-interest rate policies, even as the economy recovers further from the devastation of the viral pandemic.

Washington county Jerome city Powell, county Jerome pandemic vaccine economy

India's economy recovering from Covid lull at fast pace, says President Kovind in R-Day speech

President Ram Nath Kovind has said that the phase-wise unlocking process after the Covid-19 induced lockdown has proven to be beneficial for India's economy, which has been recovering quickly.In his address to the nation, he spoke about the economic reforms by the central government in view of the pandemic. The president said that the government's self-reliant schemes are turning into people's movement, leading to employment generation.Also Read | Revenge of the lambs at the GabbatoirHe said the slowdown has turned into a transitory period as the country has been able to turn a crisis into opportunity.

Ram Nath Kovind India president economy Government

German business confidence drops more than expected

BERLIN – German business confidence declined more than expected in January as businesses grappled with coronavirus restrictions and an uncertain outlook, a closely watched survey showed Monday.

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Global shares gain on recovery hopes, earnings outlook

TOKYO – Global shares mostly rose Monday amid hopes economies slammed by the pandemic will bounce back, as attention turned to upcoming company earnings.

South Korea Japan Germany Britain France Hong Kong Australia city Tokyo city Shanghai pandemic vaccine economy

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0