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10.11.2020 / 07:05

Asia Today: Shanghai airport worker gets virus; 8,000 tested

BEIJING – Authorities in China’s financial hub of Shanghai have quarantined 186 people and conducted coronavirus tests on more than 8,000 after a freight handler at the city’s main international airport tested positive for the virus.No additional cases have been found, the city government said on its microblog Tuesday. It remains unclear how the 51-year-old man contracted the virus, which has largely spared the sprawling metropolis despite its dense population and strong international links.In the northern port city of Tianjin, more than 77,000 people have been tested after a locally transmitted case was reported there on Monday.

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Ford announces $500K for program that helps veterans find jobs in construction

Ontario Premier Doug Ford announced on Monday that his government would invest $500,000 in the Helmets to Hardhats program, which helps veterans find jobs in the construction industry.

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Childhood friend sang Jackson 5 on school bus with Kamala Harris in Berkeley

BERKELEY, Calif. - Kamala Harris went to elementary school in Berkeley Hills and the school is filled with so much pride over her historic win.Harris is featured in a mural at Thousand Oaks Elementary School. Families were out taking pictures a day after her historic victory to become the first woman and first person of color vice president.“It was incredible,” said Harris’s childhood friend Carole Porter. “I just started crying.

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Energy leaders leave door open to more cuts as virus spikes

DUBAI – Saudi Arabia's energy minister said Monday that global energy producers have the ability to tweak an agreement on production cuts that could be extended through the end of 2022, signaling the anticipation of continued weakened demand for oil as the coronavirus pandemic peaks again in Europe and the United States“OPEC has been and continues to be taking a proactive role,” said Prince Abdulaziz bin Salman during the Abu Dhabi-sponsored ADIPEC energy conference, which is taking place virtually this year. “We’re keeping our flexibility in our hands," Prince Abdulaziz said, without committing specifically to how far into the future cuts of 7.7 million barrels of oil a day or more could go on for.

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Brexit Britain could take 5-10 years for Covid recovery, says Martin Sorrell

London: Britain could take five to 10 years to properly recover from the pandemic because the COVID-19 financial hit will sap the economy of the firepower it needs to rebuild for Brexit, advertising supremo Martin Sorrell said on Monday.Britain has recorded the worst death toll in Europe and the deepest economic contraction of any leading G7 nation from the coronavirus, forcing it to pump more than 200 billion pounds ($263 billion) into the economy to keep it afloat.It is now preparing to finally leave the European Union on December 31, and is yet to secure a future trade deal."It is going to take a long time for the UK to recover unfortunately," Sorrell, the founder of the world's biggest advertising company WPP and one of the longest

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Turkey's battered currency rises after finance chief resigns

ANKARA – The Turkish lira firmed against the dollar on Monday a day after the finance minister, who is also the son-in-law to President Recep Tayyip Erdogan, announced his resignation on social media.The lira was up by 2.6%, trading at 8.29 against the dollar, even though it was not immediately clear whether Erdogan had accepted Berat Albayrak’s resignation and whether a new finance minister would be appointed.Albayrak, 42, announced on Instagram late on Sunday that he was stepping down from his post for health reasons and would spend more time with his family.His resignation followed the dismissal over the weekend of central bank chief Murat Uysal and his replacement by former Finance Minister Naci Agbal.Albayrak, who has four children

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For Biden, how to help mangled economy is next obstacle

BALTIMORE – Joe Biden will inherit a mangled U.S. economy — one that never fully healed from the coronavirus and could suffer again as new infections are climbing.The once robust recovery has shown signs of gasping after federal aid lapsed.

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Asian shares, US futures surge on relief US election decided

TOKYO – Asian shares and U.S. futures rose Monday on relief the U.S. presidential election results were finally decided, with Joe Biden the president-elect.

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India looks to poor farmers to rescue its coronavirus-ravaged economy

Unprecedented DemandSome companies reported strong demand for their products and services, such as automobile, cement, steel, tires and jewelry, in rural areas.Hindustan Unilever Ltd., Asia’s biggest maker of personal care products by market value, said its sales jumped the most since 2011. “We are seeing rural markets as well as smaller towns perform relatively better," Sanjiv Mehta, chairman and managing director of the company, which sells its products through 8 million outlets in the nation, said on a conference call.Tractors, passenger cars and light commercial vehicles are seeing a healthy demand as rural buying continues to be strong, according to Mahindra & Mahindra Financial Services Ltd.

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Turkish finance minister, Erdogan's son-in-law, resigns post

ANKARA – Turkey’s finance minister and son-in-law to President Recep Tayyip Erdogan announced his resignation on social media Sunday.Berak Albayrak said on Instagram that he was stepping down from his post for health reasons and would spend more time with his family.Albayrak, 42, was appointed minister of finance and treasury in July 2018, having previously been energy minister for nearly three years.His resignation follows the dismissal over the weekend of central bank chief Murat Uysal and his replacement by former Finance Minister Naci Agbal.“I decided not to continue my duty as a minister after five years in office due to health problems,” Albayrak said.

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Pandemic leaves Bengaluru's suburbs eerily empty as IT crowd moves away

Bengaluru: The coronavirus pandemic has transformed India’s Silicon Valley.The shops are emptying out fast in an upscale suburb of this bustling Indian metropolis, and the once-popular pubs frequented by the young workforce have fallen silent. The interiors of trendy showrooms, eateries and software companies are accumulating dust and rental signs have lined up the hollowed-out commercial hubs.The residents are calling it a “bloodbath on the streets."Koramangala, a popular haunt among college students and young working professionals in southern Bengaluru city, the IT capital of India, is a mix of luxury apartments, commercial structures, and posh bungalows where many Indian billionaires live.

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Biden shores up fragile 'blue wall' in industrial north

Joe Biden shored up the Democrats' “blue wall,” — more sturdily in Michigan, more tenuously in Pennsylvania and Wisconsin — to rebuild the party's path back to the White House.And while The Associated Press had called all three states and their combined 46 Electoral College votes for Biden, the Democrat's relatively narrow margins there reflect the nation’s continuing deep divisions more than a newly strengthened Democratic bulwark in the industrial north. Trump had stunned the country four years ago by winning the three states that had been carried for decades by Democrats by a total of 77,000 votes.

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As Biden wins, Business groups turn focus to coronavirus relief

Democratic Presidential Candidate Joe Biden makes a zero with his hand as he delivers remarks at an aluminum manufacturing facility in Manitowoc, Wisconsin, on September 21, 2020. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)Business groups on Saturday pledged to work with President-elect Joe Biden and Vice President-elect Kamala Harris to help lift the U.S.

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Eco-fashion offers a renaissance for new Tunisian brands

MAHDIA – The sun is setting by the time Tunisian fashion designer Chems Eddine Mechri reaches the breezy, seaside town of Mahdia.

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Message of Election 2020: Trump lost, but Trumpism did not

WASHINGTON – President Donald Trump lost. But Trumpism did not.It won in the parts of the country and with the voters whom Trump catered to over four years, constantly jabbing the hard edges of almost every contentious cultural issue into Red America, on the bet that fear and anger were a winning hand.

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Supporters rally downtown after projections declare Joe Biden president-elect

ORLANDO, Fla. – Dozens of supporters filled Lake Eola on Saturday afternoon in support of President-elect Joe Biden, after projections from Nevada and Pennsylvania put the former vice president’s ticket over the top.Congresswoman Val Demings spoke to News 6 after the projections. She campaigned for Biden and was vetted for vice president on his ticket.“We need to get our economy back on track and we know how important tourism is to central Florida,” she said.

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Assured of victory, Biden-Harris start focusing on public health and economy

US presidential election, Democratic candidate Joe Biden and his running mate Senator Kamala Harris have begun working on the task ahead by focusing on two critical areas of public health and economy, both battered by the raging COVID-19 pandemic.According to latest projections, Biden had 264 of the 538 electoral college votes up for grabs.

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China's October exports accelerate, boosted by US demand

BEIJING – China’s export growth accelerated in October, boosting the total so far this year back above pre-coronavirus levels for the first time.Exports in October rose 11.4% over a year earlier to $237.2 billion, up from September’s 9.9% gain, customs data showed Saturday. Imports rose 4.7% by value to $178.7 billion, decelerating from the previous month’s 13.2% surge, though volumes of some goods increased.China’s exporters have benefited from the relatively early reopening of the second-largest global economy and demand for masks and other medical supplies.

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Coronavirus: Trudeau announces extension of Innovation Assistance Program with investment of $155M

Prime Minister Justin Trudeau said on Friday that 84,000 jobs were added to the economy in October, and that they would be extending the Innovation Assistance Program with a new investment of $155 million.

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Macron speaks with CEOs to promote investment in France

PARIS – French President Emmanuel Macron has turned to international CEOs to promote France’s recovery plan aimed at saving jobs and pave the way for a greener, more competitive economy as the country is struggling amid the virus crisis.Macron spoke in a videoconference Friday with CEOs of eight major international groups in an effort to convince them that France is a relevant choice at times when they are looking into European countries’ economic strategies to decide where to invest. Macron said his economic policies aim at making “our country stronger after the crisis than before.”CEOs of U.S.

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Fed signals readiness to do more for economy in grip of pandemic

WASHINGTON (AP) - The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signaled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic.Download the FOX 5 DC News App for Local Breaking News and WeatherThe Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months. The central bank again pledged to use its "full range of tools to support the U.S.

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Election 2020: Reconciling health policy with economic reality

100,000 new COVID-19 cases, with the number of deaths standing at over 230,000. COVID-19 has taken — and continues to take — a toll on the health and well-being of the nation.

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Asian stocks mixed after Wall Street election gains

BEIJING – Asian stock markets were mixed Friday after Wall Street rose amid protracted vote-counting following this week's U.S. elections.Tokyo and Sydney advanced while Shanghai, Hong Kong and Seoul declined.Markets are betting on control of the U.S.

city Beijing city Tokyo city Seoul city Shanghai city Hong Kong president economy Coronavirus

Canada’s balancing act: Second COVID-19 wave, new restrictions, and the economy

A balancing act is underway across Canada, as premiers try to curb COVID-19 with new restrictions that could prove detrimental to an economy already in pain. Mike Drolet explains the push and pull between health and wealth.

Canada covid-19 economy

Presidential election exposes America's 'perilous' divides

NEW YORK – Presidential elections can be revealing moments that convey the wishes of the American people to the next wave of elected officials. So far, the big reveal in the contest between President Donald Trump and former Vice President Joe Biden is the extent of the cavernous divide between Republican and Democratic America, one that defines the nation, no matter which candidate ultimately wins.Voters from both parties turned out in droves to pick the next president, but as they did so, they found little agreement about what that president should do.

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Highlights from the Ontario government budget unveiled Thursday

Ontario’s Progressive Conservative government presented their first pandemic-era budget Thursday. Here are the highlights:The government’s fiscal plan involves a record $187 billion in expenses, with $30 billion specifically in pandemic-related spending.The province will also have a record deficit of $38.5 billion.The budget lays out three different scenarios that could see the province’s deficit levels change in the coming years depending on how long the pandemic lasts.Currently, it is forecasting lower deficits of $33.1 billion in 2021-2022 and $28.2 billion in 2022-2023 if economic growth progresses at a moderate rate.The fiscal plan does not lay out a path to balance, with the government saying that will come in the 2021 budget.

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Wall Street rallies again as stocks ride post-2020 election wave

NEW YORK - Stocks are still riding Wall Street’s post-election wave Thursday, as markets bet on the continuation of several business-friendly policies, and the S&P 500 is rallying 1.9% toward its biggest weekly jump since April.Markets are banking on Tuesday's election leading to split control of Congress, which could mean low tax rates, lighter regulation on businesses and other policies that investors like remain the status quo. The election still hasn’t made clear who will run the White House next year, though Joe Biden is pushing closer toward the needed mark.The S&P 500 is on pace for its fourth straight gain of more than 1%, and a 7.3% jump for the week.

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751,000 seek US jobless benefits as coronavirus hobbles economy

WASHINGTON – The number of Americans seeking unemployment benefits fell slightly last week to 751,000, a still-historically high level that shows that many employers keep cutting jobs in the face of the accelerating pandemic.A surge in viral cases and Congress’ failure so far to provide more aid for struggling individuals and businesses are threatening to deepen Americans' economic pain. Eight months after the pandemic flattened the economy, weekly jobless claims still point to a stream of layoffs.

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751,000 seek unemployment benefits as pandemic hobbles US economy

WASHINGTON (AP) - The number of Americans seeking unemployment benefits fell slightly last week to 751,000, a still-historically high level that shows that many employers keep cutting jobs in the face of the accelerating pandemic.A surge in viral cases and Congress’ failure so far to provide more aid for struggling individuals and businesses are threatening to deepen Americans' economic pain. Eight months after the pandemic flattened the economy, weekly jobless claims still point to a stream of layoffs.

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Pope moves against secretariat of state amid finance scandal

ROME – Pope Francis has given the Vatican secretariat of state three months to transfer all of its financial holdings to another Vatican office following its bungled management of hundreds of millions of euros in donations and investments that are now the subject of a corruption investigation.Francis summoned the secretary of state, Cardinal Pietro Parolin, his deputy as well as the Vatican’s top finance officials for a meeting Wednesday and gave them a three-month deadline to complete the transfer, Vatican spokesman Matteo Bruni said.The Vatican released the letter that Francis wrote to Parolin on Aug. 25 in which he announced he was stripping the secretariat of state of its ability to independently manage the money.

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China opens import expo under anti-disease controls

SHANGHAI – Chinese leaders are conducting an import fair under intensive anti-coronavirus controls in their latest effort to revive the world's No. 2 economy while the United States and Europe struggle with a renewed surge of infections.

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EU cuts 2021 economic outlook as virus spreads

BRUSSELS – The European Union's executive commission on Thursday lowered its growth forecast for the economic rebound from the coronavirus pandemic next year and said the economy wouldn’t reach pre-virus levels until 2023. The regular autumn forecast foresees the economy of the 19 countries that use the euro growing only 4.2% in 2021 instead of the previous estimate of 6.1%.The downgrade comes as governments record increasing numbers of infections, sick people in hospitals and deaths, leading to renewed restrictions on businesses and activity.

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Nintendo's profit soars as pandemic has people playing games

TOKYO – Nintendo, the Japanese company behind Super Mario and Pokemon video games, reported Thursday that its fiscal first half profit more than tripled as passed time while stuck at home during the pandemic playing games. Kyoto-based Nintendo Co.’s profit for the six months through September soared to 213 billion yen ($2 billion), up from 62 billion yen a year ago.

Japan city Tokyo covid-19 pandemic economy

Indonesia officially in recession as GDP fall amid pandemic

JAKARTA – Indonesia’s economy has fallen into recession for the first time since the Asian financial crisis more than two decades ago as the country struggles to control the coronavirus pandemic. Statistics Indonesia, the central statistics agency, said Thursday that Southeast Asia’s largest economy contracted at a 3.49% annual pace in July-September, the second consecutive quarterly contraction.

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In Spain, coronavirus puts the poor at the back of the line

MADRID – Erika Oliva spends at least three hours a week standing in line at a soup kitchen.She spends a couple more at the social worker’s office with her 8-year-old son, who has autism. She waits on the phone to the health center or when she wants to check if her application for a basic income program will get her the promised 1,015 euros ($1,188).So far, it hasn’t.“They are always asking for more papers but we still haven’t seen a euro.

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Bank of England deploys more stimulus as lockdown begins

LONDON – The Bank of England has increased its monetary stimulus by a bigger than anticipated 150 billion pounds ($195 billion) as it tries to boost the economy through new lockdown measures.In a statement released Thursday, the bank's rate-setting panel said its challenge is to respond to the economic and financial impact of the resurgence of the coronavirus, which has led to the reimposition of widespread restrictions across the U.K. A four-week lockdown began Thursday in England that will keep closed all shops selling items deemed to be non-essential, such as books and clothes, as the government seeks to contain a sharp increase in virus infections.

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Asia tracks Wall St rally as markets shrug at election limbo

remained undecided as neither President Donald Trump or Democratic challenger Joe Biden had secured the 270 Electoral College votes needed to win by early Thursday. So far, the markets have acted as if the occupant of the White House might be a secondary concern.“Notions that election uncertainty amid threat of a drawn out legal contest for the White House and Congressional gridlock (Democrat House-Republican Senate impasse) would have spooked markets couldn’t be further from the truth though," Mizuho Bank said in a commentary.

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Election splits Congress, GOP bolstered as Democrats falter

WASHINGTON – The election scrambled seats in the House and Senate but ultimately left Congress much like it began, deeply split as voters resisted big changes despite the heated race at the top of the ticket for the White House.It’s an outcome that dampens Democratic demands for a bold new agenda, emboldens Republicans and almost ensures partisan gridlock regardless of who wins the presidency. Or perhaps, as some say, it provides a rare opening for modest across-the-aisle cooperation.

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Biden rebuilding 'blue wall' in race for the White House

WASHINGTON – Democrat Joe Biden was pushing closer to the 270 Electoral College votes needed to carry the White House, securing victories in the “blue wall” battlegrounds of Wisconsin and Michigan, and narrowing President Donald Trump's path. With just a handful of states still up for grabs, Trump tried to press his case in court in some key swing states, It was unclear if any of his campaign's legal maneuvering over balloting would succeed in shifting the race in his favor.

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Premier Kenney urges rural municipalities to lower taxes

Premier Jason Kenney is calling on rural leaders to get on side with his UCP government to lower taxes on Alberta businesses. The premier says everyone has to play a role in getting Alberta’s economy back on track. Tom Vernon has more.

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San Francisco voters approve taxes on CEOs, big businesses

SAN FRANCISCO – In an effort to address economic disparity laid bare by the coronavirus pandemic, San Francisco voters overwhelmingly approved several tax measures targeting property owners and big businesses with CEOs paid far higher than their average workers.Under the new law, any company whose top executive earns 100 times more than their average worker will pay an extra 0.1% surcharge on its annual business tax payment.

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What to expect as Florida’s minimum wage increases to $15 per hour

ORLANDO, Fla. – Florida’s minimum wage is about to go up, after voters approved Amendment 2, which outlines a plan for the state’s minimum wage to reach $15 per hour by 2026.The plan is to raise the wage from $8.56 an hour to $10 next September and bump it up a dollar each year following until reaching $15 in 2026.Here’s what the minimum wage increase would look like each year, according to Ballotpedia.Beginning on Sept. 30, 2027, the state’s plan would be to have an annual adjustment to the state minimum wage based on increases to the Consumer Price Index for Urban Wage Earners and Clerical Workers.A supervote majority of 60% yes was required to adopt the amendment.

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Stocks shake off 2020 election night wobbles to rally

A road sign is seen near the New York Stock Exchange in New York on Oct. 30, 2020.

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AP VoteCast: Trump, Biden coalitions show race, class divide

WASHINGTON – Americans sorted themselves into two distinct camps of voters in Tuesday's presidential election, exposing the clear and entrenched partisan divisions that separate voters of different genders, classes and races.Despite a once-in-a-century pandemic and a weakened economy, some 76% of U.S. voters said they knew all along who they would support — and they constituted the bulk of the supporters for both President Donald Trump and former Vice President Joe Biden, according to AP VoteCast, an expansive survey of the voters nationwide.

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AP VoteCast: Many Trump voters skeptical of vote count

WASHINGTON – Four years of partisan discord and a tumultuous election have left U.S. voters deeply divided on everything from public health, racial justice and the economy to whether votes would be counted fairly, according to AP VoteCast, a national survey of the electorate.Supporters of President Donald Trump and former Vice President Joe Biden found little common ground on the top crises facing the nation.

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Fed confronts a shaky US economy that likely needs more help

WASHINGTON – Federal Reserve officials are meeting this week with the economy facing growing threats from a resurgence of the coronavirus and from Congress' failure to provide any further aid for struggling individuals and businesses.Yet the Fed will likely end its latest policy meeting Thursday by deciding to wait before determining whether or how to expand the economic support it has been supplying through ultra-low interest rates. The central bank has been buying Treasury and mortgage bonds to hold down long-term borrowing rates to encourage spending.

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Lockdown officially begins at midnight as MPs back Boris Johnson's Covid-19 restrictions

Boris Johnson has survived an embarrassing Tory revolt and for support to push new lockdown restrictions through the Commons.

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AP VoteCast: Voters favor Biden on coronavirus, Trump on economy

WASHINGTON – Voters in the U.S. presidential election faced a public health crisis and a wounded economy, but neither candidate emerged as the clear choice to handle both of those issues, according to AP VoteCast.More voters — both nationwide and in key battlegrounds — said former Vice President Joe Biden would be better able to handle the coronavirus pandemic, the top concern for about 4 in 10 voters.

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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