Job losses deepen in pandemic with U.S. tally topping 30m
Businessam Staff
April 30, 2020
Millions more Americans filed for unemployment benefits last week, sending the six-week total above 30 million since the coronavirus pandemic began to shutter businesses across the country. Initial jobless claims totaled 3.84 million in the week ended April 25 following 4.44 million in the prior week, according to Labor Department figures Thursday. Economists had projected […]
As virus deaths surge, US struggles to define containment strategies
Godwin NnannaApril 14, 2020
Godwin Nnanna, Special Correspondent, in New York The eerie emptiness of the streets, the blunted affect of overworked city police officers and first responders, the unfamiliar silence in the once boisterous Times Square, and the surreal panoply of agony and uncertainty, all point to the reality of a different New York from the one many […]
Trade deal: US pushes India to buy $5-6 billion more farm goods
Businessam StaffJanuary 24, 2020
The United States wants India to buy at least another $5-6 billion worth of American poultry and farm goods if New Delhi wants to win reinstatement of a key U.S. trade concession. US President Donald Trump cited trade barriers last year when removing India from its Generalized System of Preferences (GSP) program that allowed zero […]
Trump sees ‘good things’ in trade talks; China dangles partial deal
Businessam StaffOctober 11, 2019
U.S. President Donald Trump sounded an optimistic note on Friday as high-level trade talks with China entered a second day, while Beijing indicated it was open to a “partial” deal that would avoid a planned hike in tariffs on its goods this month. The two sides have been locked in on-again, off-again talks to resolve […]
U.S. emerges fastest growing crude oil producer
Businessam StaffAugust 13, 2019
The U.S has emerged as the fastest growing crude oil producing region. This is according to the latest data published by Statista, an online statistics, market research and business intelligence portal. According to the research firm, crude oil production in the U.S. is rising and might set a new record in 2019. In April, daily […]
Interest rate cut expectations persists amidst strong U.S. retail sales
Businessam StaffJuly 16, 2019
U.S. retail sales increased more than expected in June, pointing to strong consumer spending, however this did not change market expectations that the Federal Reserve will cut interest rates this month. The report from the Commerce Department on Tuesday showed that consumer spending is on the rise and as such, could help to blunt some […]
Trump says ‘China is letting us down’ on buying from U.S. farmers
Businessam StaffJuly 11, 2019
U.S. President Donald Trump said on Thursday that China was not living up to promises it made on buying agricultural products from American farmers as the world’s two largest economies work to resolve a trade dispute. “Mexico is doing great at the Border, but China is letting us down in that they have not been […]
Trump orders investigation of French taxes on U.S tech companies
Afolabi OluwaseunJuly 11, 2019
U.S. President Donald Trump on has ordered an investigation into France’s planned tax on technology companies, a probe that could lead to the United States imposing new tariffs or other trade restrictions. Robert Lighthizer, U.S. Trade Representative (USTR) said in a statement that the United State is very concerned that the digital service taxes, which […]
Fed’s Powell says trade, global growth concerns continue to weigh on U.S. economy
Businessam StaffJuly 10, 2019
Concerns about trade policy and a weak global economy “continue to weigh on the U.S. economic outlook” and the Federal Reserve stands ready to “act as appropriate” to sustain a decade-long expansion, Fed Chairman Jerome Powell said on Wednesday in remarks that could bolster expectations of an interest rate cut later this month. In prepared […]
Virgin Galactic to go public by year end
Afolabi OluwaseunJuly 9, 2019
Billionaire Richard Branson’s space-tourism venture, Virgin Galactic, plans to go public by the end of this year. This is part of a deal with a special purpose acquisition company (SPAC) created by venture-capital firms Social Capital and Hedosophia, the companies said on Tuesday. The SPAC, Social Capital Hedosophia Holdings Corp, will take a 49 […]