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  • US adds 1.8 million jobs in a sign that hiring has weakened
    WASHINGTON (AP) — The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus is weakening hiring and the economic rebound. At any other time, hiring at that level would be seen as a blowout gain. But after employers shed a staggering […]
  • Threat to Dollar’s Global Supremacy Revived by EU Stimulus Deal – Bloomberg
    The dollar is facing renewed questions about its status as the globe’s primary reserve currency. The greenback accounts for more than 60% of global reserves and is the most widely used currency for international transactions. But it risks ceding ground to the euro after European Union leaders agreed on a 750 billion euro ($860 billion) […]
  • Trump administration examining options for unilateral action if no coronavirus deal is reached with Congress – The Washington Post
    The Trump administration is looking at options for unilateral actions it can take to try to address some of the economic fallout caused by the novel coronavirus pandemic if no relief deal is reached with Congress, according to two people with knowledge of the deliberations. The discussions are a reflection of officials’ increasingly pessimistic outlook […]
  • California Pizza Kitchen files for bankruptcy – CNN
    New York (CNN Business) California Pizza Kitchen is the latest fast casual chain to file for bankruptcy as the pandemic and its debt burden hampers its operations. The 35-year-old pizza chain filed for Chapter 11 Thursday, explaining that the process will help it “reduce its long-term debt load, and quickly emerge from bankruptcy as a […]
  • Stock market today: Stocks extend losses amid record GDP plunge, with the Dow dropping 500 points
    Stocks fell sharply on Thursday as big technology shares declined ahead of their earnings reports after the bell. Investors also digested a record drop in GDP.The Dow Jones Industrial Average traded 500 points lower, or 1.9%. The S&P 500 slid 1.5%. The Nasdaq Composite dropped 1.1%. Source: Stock market today: Stocks extend losses amid record GDP […]

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