Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Donald Trump’s botched handling of the Covid-19 crisis has left the US looking like a “third world” country and on course for a second Great Depression, one of the world’s leading economists has warned.
In a withering attack on the president, Joseph Stiglitz said millions of people were turning to food banks, turning up for work due to a lack of sick pay and dying because of health inequalities.
The New York governor has brushed off Donald Trump's claim that the president has the ultimate say on when and how to reopen the economy. Andrew Cuomo says Trump's assertion is inaccurate and unconstitutional, adding: 'There are many things you can debate in the constitution because they are ambiguous. This is not one of those things that is ambiguous.'
It is New Year’s Eve 2019 and around the world stock markets are closing for business on a high note. Shares in the US are up by almost 30% on the year, those in Japan by 18%. Even in Britain, where the mood has been dampened by months of Brexit uncertainty, the FTSE 100 has risen by 12%.
Overall, it had been the best year for stocks since 2009 and traders saw no real reason why the party should not continue into 2020. The US and China looked close to an armistice in their trade war, the US central bank was stimulating the world’s biggest economy, and Boris Johnson’s decisive victory in the general election had removed any lingering doubts about whether Britain would leave the European Union.
Does the huge surge in US unemployment claims announced on Thursday mean that we are doomed to endure the 30% unemployment of which the Federal Reserve Bank of St Louis has warned?
The answer is no. How high unemployment rises will depend on how quickly we ramp up testing and the provision of protective equipment, enabling us to determine when and where it is safe to return to work.
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Donald Trump will be signing the stimulus package at 4pm this afternoon.
Will be signing the CARE Act in the Oval Office today at 4:00 P.M. Eastern! https://t.co/0WnTNFZPZD
Donald Trump just released an ad called “Hope” that uses sound bytes from various public figures that make it appear they are praising the president for his efforts combating Covid-19.
Reposting - the president, who has accused Democrats of politicizing the coronavirus, is out with an ad using various public statements in misleading ways to highlight his response https://t.co/QwrG5AivMY
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Louisiana governor John Bel Edwards updated reporters on a major spike in the Covid-19 death toll and contraction rate in the state, which remains a major coronavirus hotspot.
There are now 1,975 confirmed cases, a day-on-day increase of 407, and 65 deaths, a day-on-day increase of 19.
California Governor Gavin Newsom said in a briefing on Wednesday that 1 million people have filed for unemployment in the state since March 13th.
Gov @GavinNewsom says 1 million Californians have filed for unemployment since March 13. For context, CA usually gets 2500 claims a day, or about 22,500 in the 9 business days since 3/13. Instead: *one million.*#coronavirus#COVID19
The FTSE 100 fell below 5,000 points on Monday and trading on Wall Street was suspended for the third time in a week as markets were gripped by mounting concerns over the threat of a global recession, despite a coordinated effort by central banks to protect growth and jobs.
In an escalation of the worst turmoil since the 2008 financial crisis, stock markets suffered further sharp losses on Monday despite dramatic action taken by the US central bank late on Sunday in an attempt to limit the economic impact of the coronavirus pandemic.
US stock markets have been on an unprecedented streak since 2009, a bull market of gains
Wall Street’s record-breaking 11-year “bull market” came to an end on Wednesday as fears about the spreading Covid-19 pandemic hit stock markets again.
US stock markets have been on an unprecedented streak since 2009, a bull market of gains. On Wednesday investors sold off shares across all sectors after the World Health Organization declared the outbreak a pandemic for the first time and criticized “alarming levels of inaction” by governments in corralling the virus.
Donald Trump told the world’s business leaders to stop listening to “prophets of doom” as he used a keynote speech at the World Economic Forum to attack the teenage activist Greta Thunberg over her climate crisis warnings.
The US president hailed America’s growth record and compared campaigners against global heating with those who feared a population explosion in the 1960s and mass starvation in the 1970s.
Rumors of Middle East war used to inevitably lead to soaring gas prices but fracking revolution has changed the market landscape
For many older Americans the thought of war in the Middle East will trigger memories of soaring gas prices and long lines at the pumps. But as US relations with Iran sink to a new low there is, as yet, no sign of panic.
Prospect of agreement lifts stock markets but experts question impact on long-running tensions
Donald Trump has said he will sign the first phase of a long-awaited trade deal with China on 15 January, in a move that de-escalates the tariff war between the world’s two biggest economies.
In a tweet on Tuesday, the US president said “high-level representatives of China” would attend an official ceremony at the White House, adding he would also be travelling to Beijing for talks on the second phase of the deal.
The world is sleepwalking towards a fresh economic and financial crisis that will have devastating consequences for the democratic market system, according to the former Bank of England governor Mervyn King.
Lord King, who was in charge at Threadneedle Street during the near-death of the global banking system and deep economic slump a decade ago, said the resistance to new thinking meant a repeat of the chaos of the 2008-09 period was looming.
The only tool he has to placate US consumers is successive interest rate cuts – but the whole world is playing at that game
Donald Trump’s cunning plan to make America great again by launching a trade war with China has officially backfired. Last week, a keenly watched measure of US manufacturing showed firms cutting back on production and jobs at a rate not seen since 2009. Recession warning lights are flashing and the outlook seems a world away from the cheery one presented by the president when he entered the White House in 2017.
It is quite something for a president to impose a trade policy that weighs heavily on parts of a crucial sector for the US economy – and it’s a bizarre tactic given that the votes of manufacturing workers delivered him his first term in office.
Central bank approves quarter-point interest rate reduction
Trump tweets: ‘Jay Powell and the Federal Reserve fail again!’
Under pressure from Wall Street and the White House, the Federal Reserve lowered interest rates on Wednesday for a second straight meeting, but declined to signal if it would continue to drop rates in the future.
Trump has taken the stage at the National Historically Black Colleges and Universities Week Conference and appears to (so far) be sticking to the teleprompter.
He has touted the importance of HBCUs and celebrated his education secretary, Betsy DeVos, as a champion for the institutions.
Trump is expected to soon start speaking at the National Historically Black Colleges and Universities Week Conference. The president was scheduled to take the podium at 2:15 p.m. E.T. but is apparently running behind.
Eurozone growth came in unchanged on its third estimate: 0.2% growth in the second quarter of the year.
A minor beat on the headline year-on-year growth rate, remaining at 1.2% against 1.1% expectations, but otherwise no shocks.
Labour has confirmed that it will not vote for an election on Monday even if a bill intended to stop a no-deal Brexit passes before then.
If we vote to have a general election, then no matter what it is that Boris Johnson promises, it is up to him to advise the Queen when the general election should be. And given that he has shown himself to be a manifest liar, and someone who has said that he will die in a ditch rather than stop no deal, and indeed his adviser, [Dominic] Cummings, has been swearing and shouting at MPs saying they are leaving on 31 [October] no matter what, our first priority has to be that we must stop no deal and we must make sure that that is going to happen.
Chinese exports worth $125bn will face new taxes from 1 September, while China places levy on oil as agreement becomes more distant
China and the United States have begun imposing additional tariffs on each other’s goods in the latest escalation of their bruising trade war that has sent shockwaves through the global economy.
A new round of tariffs took effect from 0401 GMT on Sunday, with Beijing’s levy of 5% on US crude oil marking the first time the fuel has been targeted since the world’s two largest economies started their trade war more than a year ago.
President ‘hereby orders’ US firms to seek alternative locations and suggests Fed Chair is an ‘enemy’
Donald Trump escalated his attacks on China on Friday, bumping up tariffs on Chinese imports and ordering US companies to leave China.
Trump’s announcements on Friday – all on Twitter – came after the president launched another blistering criticism of the Federal Reserve chairman, Jerome Powell, asking: “Who is our bigger enemy, Jay Powell or [China’s] Chairman Xi?”
Representative Ilhan Omar has promised to post a live stream of her imminent press conference with Representative Rashida Tlaib on the topic of their being banned from travel to Israel and Palestine in her Twitter feed here.
snap
The debunked study you’re referring to was based on 21 undecided voters. For context that’s about half the number of people associated with your campaign who have been indicted. https://t.co/0zHnWvGjSv
Sharp declines come after Tuesday rally inspired by tariff delays
Trump urges Fed chief Powell to make further interest rate cuts
Signs of a global economic slowdown roiled the markets on Wednesday as shares dived and investors fled to bonds with such intensity that short-term yields rose above longer-term ones for the first time since the crisis of a decade ago – an inversion many market-watchers saw as a strong signal of an approaching recession.