Economic News
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U.S. coronavirus aid talks stalled, as parties trade jibes
WASHINGTON (Reuters) - U.S. congressional leaders and Trump administration officials said on Monday they were ready to resume negotiations on a coronavirus aid deal, but talks remained deadlocked as Democrats said Republicans needed to meet them in the middle.
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U.S. job openings rise in June, likely exaggerate labor market health
WASHINGTON (Reuters) - U.S. job openings increased in June but the surge in vacancies was accompanied by a rise in workers quitting their positions at hotels, restaurants and bars, likely because of fears of exposure to COVID-19 and problems securing child care.
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S&P 500 ends up slightly, tech-related shares underperform value
(Reuters) - The Dow jumped 1%, the S&P 500 inched up and the Nasdaq closed lower on Monday as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a U.S. fiscal support bill.
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Fed's Evans says vulnerable workers affected by crisis face highly uncertain future
NEW YORK (Reuters) - The economic crisis caused by the coronavirus pandemic is falling hardest on the most vulnerable workers, and policymakers need to coordinate to come up with creative policies to help people make it through the uniquely painful downturn, Chicago Federal Reserve Bank President Charles Evans said on Monday.
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U.S. farmers leave fields fallow as COVID-19 wrecks crop prospects
CHICAGO (Reuters) - The 1,250 acres of irrigated fields are the most valuable on Troy Schneider's farm in eastern Colorado, as corn yields in his county typically come in more than three times higher on those fields than dryland ones.
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Federal Reserve announces post-stress test capital ratios for large banks
WASHINGTON (Reuters) - The U.S. Federal Reserve announced on Monday how much each large bank that underwent its 2020 stress tests will have to hold in additional capital.
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Former Paypal executive to lead Facebook Pay
(Reuters) - Facebook Inc
named former PayPal Holdings Inc executive Stephane Kasriel to lead Facebook Pay, a company executive said on Monday. -
Turkey's Halkbank says it is immune from U.S. prosecution in Iran sanctions case
NEW YORK (Reuters) - Halkbank
on Monday urged the dismissal of a U.S. indictment accusing the state-owned Turkish lender of helping Iran evade American sanctions, saying it was immune from prosecution and that U.S. laws did not cover its alleged misconduct. -
Exxon Beaumont, Texas, union to ask for talks over planned 401k change: sources
HOUSTON (Reuters) - Unionized employees at Exxon Mobil Corpâs
refinery and chemical plant in Beaumont, Texas, will seek negotiations with the company over plans to suspend the employer contribution to their 401K retirement savings plan, sources familiar with the matter said. -
Senators urge U.S. to remove tariffs on EU foods, beverages
WASHINGTON (Reuters) - A bipartisan group of 13 U.S. senators have asked the U.S. Trade Representative's Office (USTR) to remove 25% tariffs imposed in October 2019 on European Union food, wine and spirits, according to a letter seen by Reuters.
