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Fed warns of financial risks as corona virus downturn continues

The market turmoil triggered by the outbreak of the corona virus has been exacerbated by the financial system, the Federal Reserve said on Friday, warning that this remains a source of vulnerability as the economic downturn continues to weigh on households and businesses. The financial system “intensified the shock” in March, the Fed said as short-term finance markets in particular …

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Snap shows strong ad growth despite the corona virus downturn

Evan Spiegel, co-founder and CEO of Snap Inc., speaks on Monday, February 25, 2019, during the New Work Summit in Half Moon Bay, California, United States. David Paul Morris | Bloomberg | Getty Images Snapchat maker Snap Inc. impressed investors on Tuesday with its still growing advertising revenue in recent weeks amid a broader slowdown in advertising. However, Snap’s strength …

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China’s economy is in the worst downturn since the 1970s in the virus fight

BEIJING (AP) – China is facing a protracted struggle to revitalize its economy after suffering its largest decline since at least the 1970s after ordering hundreds of millions of people to stay home to fight the coronavirus. The world’s second largest economy contracted 6.8% year-on-year in the quarter ending March, after factories, offices, and shopping centers were closed to stem …

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IMF. Predicts the worst downturn since the Great Depression

WASHINGTON – The International Monetary Fund issued a sharp warning on the economic toll of the corona virus on Tuesday, saying that the world is facing the worst downturn since the Great Depression as closed factories, quarantines, and national closures are causing the collapse in economic performance. The grim forecast underlined the magnitude of the shock the pandemic has inflicted …

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According to the survey, sports directors are expecting a financial downturn of at least 20%

Sports directors of the country’s largest sports powers are preparing for a possible financial crisis related to the coronavirus pandemic. According to a survey released on Thursday by LEAD1, an association of sports directors from 130 major college football schools, 63% predict a worst-case scenario in which their earnings will drop by at least 20% in the 2020-21 school year …

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Taiwan warns of possible attacks if China's downturn becomes serious

TAIPEI (Reuters) – Beijing could resort to a military conflict with self-governing Taiwan to divert internal pressure when a slowdown in the world's second largest economy in the midst of a trade war threatens the legitimacy of the Chinese Communist Party, the island's foreign minister said , Taiwan's Foreign Minister Joseph Wu speaks during an interview in Taipei, Taiwan, on …

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three-peat? The Fed is copying the game book of the 1990s to avert a downturn

WASHINGTON (Reuters) – In the midst of a golden decade for the Federal Reserve, central bankers cut interest rates twice in short bursts in the 1990s, which helped keep the US economy growing overseas despite slowing investment and slow growth. FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured on March 19, 2019 in Washington, USA. REUTERS …

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A decline in shipping raises concerns about the downturn

CLOSE More and more women are stepping onto the streets as big-rig drivers and influencing change in an industry that has long been dominated by men. Sandy Hooper, USA TODAY Another early-warning signal for a possible recession: fewer goods are being shipped across the country. In June, truck, rail and air freight volumes declined 5.3% year-over-year, the seventh consecutive annual …

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Apple Q2 earnings for 2019 show iPhone business downturn, but fast-growing services

The iPhone XS (left) and XS Max (right). Photo: Marcio Jose Sanchez (AP) Everyone has a theory: maybe iPhones are too expensive. Perhaps Apple's quality control seems to be weaker or they have alienated consumers by removing consumer-friendly features like the headphone jack. Perhaps iPhones are becoming more and more expensive at a time when consumers have realized that the …

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While the Venezuelan economy is no longer spreading, Maduro's opponents hope that the downturn will trigger it

PUERTO ORDAZ, Venezuela – President Nicolás Maduro from Venezuela has been driving into a battered ironworks this month to announce his export capacity against the backdrop of tightening American sanctions. "No one will stop us," he said with his wife At his side, they were watching a briquette conveyor belt in the Guayana Steel Complex. "These are the days of …

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