US economy collapsed in Q2 amid pandemic, jobless claims rise

first_imgThe latest Labor Department data showed a second straight weekly increase in initial claims for jobless benefits following several weeks of declines, prompting renewed calls for Congress to quickly approve a new round of emergency spending to support the economy.The separate growth figures from the Commerce Department are given at an annual rate – a measure of the full-year result if the damage was translated over 12 months. Compared to the same quarter of 2019, economic activity fell 9.5 percent, still the worst figure since 1948.”The staggering news of the historic decline of the gross domestic product in the second quarter should shock us all,” US Chamber of Commerce Executive Vice President Neil Bradley said in a statement.The data “should compel Congress to move swiftly” to provide assistance to unemployed workers and businesses. Help for workersCongress is currently locked in debate over the size and composition of the next spending bill, with Democrats fighting to retain the US$600 additional weekly payment made to unemployed workers set to expire Friday. Republicans want to cut that money and offer businesses that reopen protection if some employees become infected.”COVID is the iceberg. If we don’t want to be the Titanic, we need more lifeboats to traverse COVID-tainted waters,” Grant Thornton chief economist Diane Swonk said on Twitter.US media reported the White House is pushing for a stop-gap measure that would extend the extra unemployment payments by one week as well as the moratorium on evictions for renters while negotiations continue.Democratic House Leader Nancy Pelosi has opposed the plan, and she and top Senate Democrat Chuck Schumer are due to meet with Treasury Secretary Steven Mnuchin again late Thursday to try to bridge the differences.Shortly after the data were released, Trump took to Twitter to rail against potential voter fraud and suggest postponing the November 3 election.”Delay the Election until people can properly, securely and safely vote???” Trump tweeted, prompting many to say he was trying to distract attention from the awful numbers.His opponent, former vice president Joe Biden, laid the blame squarely at Trump’s feet, pointing to the death toll from the virus in the United States which on Wednesday exceeded 150,000.”The depth of economic devastation our nation is experiencing is not an act of God, it’s a failure of presidential leadership,” Biden said in a statement. “Had President Trump taken immediate and decisive action, tens of thousands of lives and millions of jobs would never have been lost.”Employment setback, stalled growthAfter surging in March amid the massive job losses at the start of the pandemic, first time claims for jobless benefits have been falling for weeks, but they rose again to 1.43 million in the week ended July 25, the Labor Department said on Thursday.That figure does not include the 829,697 new claims by people who filed under a special program for those who would not normally be eligible for aid.The data show “the resurgence in COVID-19 cases is taking a toll on the recovery in the labor market,” Oxford Economics lead US economist Nancy Vanden Houten said in an analysis.Continuing claims, which is the number of people receiving benefits for more than a week, jumped to over 17 million while the insured unemployment rate rose to 11.6 percent in the week ended July 18.Following a reduction of 5.0 percent in the first three months of the year, the GDP plunge was driven largely by the drop in its largest component, consumer spending, which fell 34.6 percent annualized, according to the report, which was the first estimate for the second quarter.Trade also took a huge hit in the latest quarter, with exports falling just over 64 percent, and imports down 53.4 percent.But personal income got a boost of $1.4 trillion from the government emergency spending measures that provided payroll funds for businesses and direct unemployment payments to workers.Topics : The United States economy collapsed in the midst of the coronavirus pandemic, suffering its largest decline on record while hopes for a recovery took another hit as job losses increased, according to government data released Thursday.The 32.9 percent GDP contraction, though slightly better than expected, was the worst experienced by the world’s largest economy since at least 1947 and underscored the severity of the rapidly unfolding crisis, which has already destroyed tens of millions of jobs. While President Donald Trump continues to promise a dramatic recovery, COVID-19 cases have resurged in recent weeks, eroding early progress towards a rebound and forcing authorities in several states to reimpose restrictions that sent workers back home.last_img read more

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Unai Emery prepared to be ‘patient’ as Arsenal close in on William Saliba transfer deal

first_img Metro Sport ReporterSunday 21 Jul 2019 8:32 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link3.8kShares Arsenal are set to sign Saint Etienne centre-back William Saliba (Picture: Getty)Arsenal boss Unai Emery insists he’s willing to be ‘patient’ to sign players of William Saliba’s quality as he’s not prepared to settle for second choice targets.Saliba had an outstanding breakthrough season for Saint-Etienne last term, making 16 appearances in Ligue 1, and the 18-year-old central defender is reportedly on the verge of agreeing a deal with Arsenal.Tottenham were close to landing Saliba earlier this summer, but Saint-Etienne president Bernard Caiazzo has confirmed that the youngster is set to sign for Arsenal before being loaned back to them for the 2019/20 season.Reports in France claim that Arsenal have agreed to pay £28million for Saliba’s signature and the France Under-20 international will undergo a medical with the Gunners on Tuesday.AdvertisementAdvertisementADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityAsked whether he’s happy to wait a whole year for Saliba, Emery replied: ‘Really I am with patience because we want to choose the best solution.‘Some players are very expensive and we are waiting for this possibility. We don’t want now to go to the second line of players,’ he said.‘We are waiting. We have very good players. We have very good young players. Eddie Nketiah scored twice as Arsenal beat Fiorentina (Picture: Getty)Emery stressed that he’s fully focused on preparations for the new season following Arsenal’s comfortable 3-0 victory over Fiorentina, their third win from three games.Asked whether he’s satisfied with Arsenal’s progress in the transfer window, he replied: ‘Yes but now we’re in the pre-season. It really doesn’t disturb our preparation. The result isn’t important.‘Today we won 3-0 but they created chances to score. I am happy with the match. The first half we didn’t control the game like we wanted with the possession and build-up. We created chances but we conceded a lot also.More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira moves‘The second half maybe we found better with this structure, 4-4-2, 4-2-3-1, to better control the match. This is the way, progress and work to achieve the best solution tactically.‘We need to work harder than last year to achieve our target.’MORE: Why Dani Ceballos is the Spanish playmaker who can succeed where Denis Suarez failed at Arsenal Unai Emery prepared to be ‘patient’ as Arsenal close in on William Saliba transfer deal Saliba will join Arsenal before being loaned back to Saint-Etienne (Picture: Getty)‘We are aware also that we need to improve some players in this squad but only, only I want to sign one, two, three or four players only if we can be sure they are coming to improve our team.‘There are a lot of names. The club is working, Edu is very close to me and Raul [Sanllehi]. We speak every day. Here we spoke with the Kroenke family.‘I want to send a message to all our supporters – we’re very happy to be here with a lot of Arsenal supporters and are very impressed – we are working and preparing and we want to make the best squad possible.‘Our ambition and motivation is with all the supporters.’center_img Comment Advertisement Advertisementlast_img read more

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Mikel Arteta plays down suggestions Arsenal players will want to relegate Watford as ‘revenge’ on Troy Deeney

first_imgAdvertisement The Watford skipper has been openly critical of Arsenal’s players in the past (Picture: Getty Images)Mikel Arteta has played down suggestions that Arsenal’s players will be extra motivated against Watford due to comments Troy Deeney has made about them in the past.The Gunners have nothing to play for going into the final Premier League match of the season – with European qualification now hinging on winning the FA Cup final – while Watford need to better Aston Villa’s result to stay up.But plenty of Arsenal fans are hoping they can have the last laugh over Deeney and Watford and still remember his infamous barb in 2017 when he claimed the side lacked ‘cojones’. Mikel Arteta plays down suggestions Arsenal players will want to relegate Watford as ‘revenge’ on Troy Deeney Deeney has suggested that Arsenal do not like physical battles against him (Picture: Getty)Arteta was not at the club three years ago, but a number of players in the squad were, though Arteta does not believe they will have revenge on the agenda and were not truly affected by the remarks.AdvertisementAdvertisementADVERTISEMENTAsked if Arsenal’s players will want to send Watford down after Deeney’s comments, Arteta replied: ‘No, I think revenge, or when you are annoyed and when you want to put things right, it’s probably because you feel that what is being said is right.‘If you don’t feel it is right, then it doesn’t justify the way you approach the game or the way you fight, it doesn’t have to affect you.‘So I think that is a very personal thing.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalProbed on whether Deeney was wrong to say what he did, Arteta continued: ‘I don’t know. Every player is free to say whatever they want, so I cannot comment on every opinion.’On whether his side will be 100% focused on the game despite having nothing to play for, Arteta said: ‘That’s the way we will prepare the game, that’s for sure. We need to know the responsibility we have towards the other clubs as well and the responsibility we have just wearing that shirt in any game. It has to be to win the football game and prepare. Advertisementcenter_img Arteta was speaking at Thursday’s pre-match press conference via Zoom (Picture: YouTube)‘Mentally if you are not ready or your level of implication is not 100% then you have a problem.’Arteta also insists he will name a strong line-up for the match, despite Arsenal’s priority being the FA Cup final now, and feels the club owe it to the other teams in the relegation battle to give their all.He added: ‘I think that is our responsibility. A strong side doesn’t mean that players who have played less participate, for me it’s more about how we approach the game and how you get into that game to win the game. There is no 50:50s, no lack of intensity or anything like that. We can’t do that.’MORE: Future captain? William Saliba given legendary Arsenal shirt numberMORE: Mikel Arteta sends class message to Unai Emery after former Arsenal boss is appointed new Villarreal managerFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Metro Sport ReporterThursday 23 Jul 2020 3:55 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link5.7kShares Commentlast_img read more

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New apartment at Burleigh Heads is brewing up a storm

first_imgSandbar Burleigh, Burleigh Heads.NEW Burleigh Heads luxury tower Sandbar is set to create a buzz in the market when it launches in coming weeks.Spanning 26 floors and offering 163 luxury apartments, the development is Morris Property Group’s latest venture in the suburb. Sandbar Burleigh, Burleigh Heads.It follows Morris Property Group; s last development in the suburb, the 20-storey Boardwalk Burleigh which launched in late 2015 and sold quickly. Now well under construction, it is expected to be topped out by Christmas.Morris Property Group principal Barry Morris said Sandbar, located on the corner of Sixth Ave and Gold Coast Highway, would offer buyers the opportunity to live by the beach in elegance and comfort. More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North2 hours ago02:37International architect Desmond Brooks selling luxury beach villa22 hours ago“The unique Burleigh lifestyle is fused with quality modern design,” he said.“Our focus on creating functional and liveable apartments to enhance lifestyle was undeniably a driving ethos in this development, as it is with all our projects.” Sandbar Burleigh, Burleigh Heads.He said Burleigh Heads received strong inquiry from local and interstate buyers.“Due to the under supply of new housing in the southern-beaches market − particularly the Burleigh catchment area − and an increased demand for iconic coastal properties, we expect strong interest in our new project, Sandbar Burleigh,” he said.Two-bedroom apartments are priced from $510,000 while three-bedroom apartments are on the market from $1.59 million.There will be three colour schemes available to buyers and apartments will feature stunning ocean, city and Hinterland views.CBRE Residential Gold Coast director Nicholas Clydsdale said there would be something for everyone at Sandbar.“The project ticks so many boxes: location, amenity, lifestyle, design and finishes,” he said. “The cherry on top is the planned Stage 3 of the G Link, which will connect Broadbeach to Burleigh Heads.“When CBRE sold Boardwalk Burleigh, the large, latent demand from owner occupiers who already owned in the area was revealed. Many who missed out there have already registered with an expression of interest deposit, to ensure they do not miss out again.”last_img read more

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Sidetrack

first_imgBirds on the wiresIn the past green activists in Germany have pursued their cause by having steam trains banned, whilst expressing little opposition to new roads. Now, the French Transport Users Federation (FNAUT) has offered a three point punishment to a local section of the National Movement for the Environment (MNLE) for its opposition to the Orléans tram project. Local MNLE officials complain that the tram will leave no room for cars on main routes through the city, and that birds flying along the river Loire will hit the tram wires on the George V bridge. They suggest that the road should be ’reserved for pedestrians, cyclists and cars’.Meanwhile, in the Netherlands storks are making homes on railway catenary masts. Nesting in this secure habitat, they have little difficulty in avoiding power cables. Perhaps they are more agile than their Great Bustard relatives who are delaying progress on the Berlin – Hannover high speed line (p370).Water ridesPassengers on Netherlands Railways’ IC+ experimental train can sample the unusual experience of water-cushioning in one first class compartment. Sleeptrends, which manufactures water-beds, has supplied water filled base and back cushions for the seats, and if they prove successful NS will examine the possibility of developing a driver’s seat. This could have benefits in reducing sick leave due to back problems.DieterSeven of European Night Services’ 139 coaches for cross-Channel overnight trains were put into secure storage at a British army depot on April 17, while the four railway partners continue to review commercial prospects for the project (RG 4.97 p214)Accident proneIn Australia new rolling stock seems to have a tendency to crash before it even enters service. Last year Sidetrack noted the near write-off of one of Queensland Railways’ Gold Coast interurban EMUs.Now comes news from New South Wales that the first of seven Adtranz low-floor cars for Sydney’s Ultimo – Pyrmont tramway was in a road accident on the Hume Highway near Gundagai on April 30, whilst in transit from Dandenong works. Fortunately the LRV was only slightly damaged, but was returned to Melbourne for repair.last_img read more

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You could become a multi-property landlord with just one property purchase

first_imgInside one of the units at 40 Barker St, East Brisbane.More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours ago Apartment two has a similar floorplan with an entry into a kitchen featuring an abundance of benchtop and storage space. Two bedrooms and a bathroom with a combined shower and bathtub sit either side of the kitchen, while open-plan living and dining rooms occupy the house’s centre. There is a sleep-out with a separate entry. 40 Barker St, East Brisbane.YOU could become a multi-property landlord with just one property purchase.An entire block four units on a 810sq m block at 40 Barker St, East Brisbane is being offered for sale.The deal offers prospective buyers either a rental income or the chance to redevelop the site.All four apartments have rear and front entries and updated kitchens and bathrooms, while three also have private courtyards. Apartment one has a main entry into its dining room, which connects to a nearby bedroom and living room. A kitchen sits next to the living room and features its own entry, along with ample cabinetry and benchtops and high-quality appliances.This residence also has a second bedroom, a bathroom with shower bath and outdoor courtyard. The kitchens have been updated in 40 Barker St, East Brisbane. Apartment three has a main entry from a patio, which leads into open-plan living and dining rooms adorned with polished timber floors and neutral tones. The adjoining kitchen features ample cabinetry and stainless-steel appliances, including a built-in rangehood.Sliding doors connect the kitchen to a laundry and bathroom with a combined shower and bathtub. Two bedrooms sit next to the living and dining rooms, while the living room flows out to a timber deck surrounded by trees. Apartment four is the only residence with three bedrooms, two of which sit next to the open-plan dining and living rooms and a kitchen with modern benchtops and stainless-steel appliances. The third bedroom is near a laundry and bathroom with a combined shower and bathtub and separate entry. Listing agent Madi Roche or Ray White called it a fantastic opportunity to secure a solid investment.“These three two-bedroom and one three-bedroom flats are tenanted, providing a gross income of approximately $71,000 per annum,” she said. “There is also a unique and rare opportunity to reinstate this Queenslander into an innovative family house.” DETAILS 40 Barker St, East BrisbaneAuction: On site, July 28, 2pmAgent: Madi Roche and Cathy Roche, Ray White East Brisbanelast_img read more

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North Vernon man arrested for Murder

first_imgNorth Vernon, IN—Thursday, Alan Joseph Marantos, 34,  of North Vernon, was arrested on numerous charges related to the murder of a Jennings County man who has been missing since late March 2020.The joint investigation by the Jennings County Sheriff’s Office and Indiana State Police began on March 28 when the family of Brian K. Kirby, 52, of North Vernon, reported him missing.  Kirby was last seen alive at an address on Primshire Court near North Vernon on March 27. The lengthy investigation determined that Marantos attacked Kirby at the home on Primshire Court.  Marantos then loaded Kirby’s body in a vehicle and left the property.  Marantos took Kirby’s body to another location where Kirby’s body was burned.  Marantos then took the remains to multiple locations around Jennings County where they were discarded.Investigators collected evidence, including human remains at numerous locations during the course of the investigation.  The Indiana State Police Laboratory recently determined that DNA from the human remains matched the DNA of Brian Kirby. Alan Marantos has been incarcerated in the Jackson County Jail since April 2, 2020 when he was arrested on a Jackson County warrant for Robbery. Marantos was served an arrest warrant Thursday afternoon on allegations of Murder, Robbery, Aggravated Battery, Abuse of a Corpse, Obstruction of Justice, and Intimidation. He was additionally charged with Possession of Methamphetamine, Resisting Law Enforcement, and Leaving the Scene of a Crash as a result of his arrest on April 2.last_img read more

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Leinster recover to conquer Castres

first_imgLeinster reasserted their control of Heineken Cup Pool One by ending Castres’ proud 18-match home record at Stade Pierre-Antoine. Jimmy Gopperth scored two tries in response, the second coming in first-half injury time, as Leinster closed the gap to 17-12 at the interval. It was a real war of attrition in the concluding 40 minutes and Matt O’Connor’s men gained vital momentum on the hour mark, courtesy of three Gopperth penalties and a drop goal from Rob Kearney on his 50th Heineken Cup appearance. Flanker Jordi Murphy then claimed his first European try to put the result beyond doubt, while Castres capitalised on Sean Cronin’s sin-binning to score an injury-time consolation try through Remi Lamerat. Having lost at home to Northampton in the previous round, Leinster needed to bounce back in order to keep hold of top spot and remain on course for the quarter-finals. Castres were missing some notable names through injury – top-scoring scrum-half Rory Kockott and back- rowers Pedrie Wannenburg and Antonie Claassen chief among them – but their shadow side got off to a very strong start. Flanker Ibrahim Diarra got his hands free to send centre Lamerat weaving through some lacklustre Leinster challenges. He was brought down in sight of the posts, before Seremaia Bai’s long pass put the waiting Gray over in the left corner. Television match official Derek Bevan confirmed the score which Cedric Garcia crisply converted. The excellent Diarra then forced another turnover near halfway from which the French side sprung winger Remi Grosso into space on the left and with Rob Kearney drawn in, he passed inside for Dulin to finish off their second try. Castres’ most recent home defeat was against Ulster last January and they fell to another Irish province here despite establishing a 14-0 lead and dominating the scrum. The under-strength Castres team ended the first quarter in full control as full-back Brice Dulin touched down to add to Scotland and Lions lock Richie Gray’s opening try. Garcia’s conversion left Leinster 14-0 adrift and with considerable ground to make up. Their forwards took up the baton, with Jordi Murphy held up short from a line-out maul. From the resulting scrum, the Castres defence was caught off guard as Eoin Reddan passed for his half-back partner Gopperth to score by the posts, with the New Zealander also converting. Goal-kicking scrum-half Garcia was on target in the 39th minute but the visitors – aided by a fine Fitzgerald run – got a timely boost when Gopperth shrugged off two tackles and stretched over under pressure from Gray to claim his second try. Leinster won a central penalty for some needless stamping by Garcia when play resumed and the successful kick from Gopperth made it a two-point game. Reddan soon sniped through on a break which led to a long-range drop goal from full-back Kearney, moving Leinster ahead for the first time, and Castres coughed up another penalty which Gopperth nudged home. Leinster were suddenly 24-17 ahead when a 63rd-minute carry from replacement prop Cian Healy – a late inclusion on the bench after an incredibly quick recovery from ankle surgery – set up Gopperth’s third penalty goal. The Castres pack battered away in the Leinster 22 but the visitors, following a spell of desperate defending, countered for a brilliant third try. Healy cut inside two tackles near the Castres 22 and passed for Murphy to dive over in the right corner in the 77th minute. Although the win was now beyond them, Castres’ persistence was rewarded in the dying seconds when Lamerat scrambled over from a close-in ruck. Press Associationlast_img read more

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Mourinho’s United Looking to Improve on Worst League Start at Everton

first_imgManchester United will be looking to improve on their worst ever start to a Premier League season when they visit Everton today.Jose Mourinho’s men have taken just 20 points from their 13 matches and have won just one of their last seven Premier League matches.The United boss will be back in the dugout after missing the midweek victory over West Ham in the EFL Cup after a one-match ban from the FA and is expecting a tough game against the Toffees. “I managed against Martinez’s Everton, Moyes’ Everton and it is always difficult,” Mourinho told a pre-match press conference.“It is always beautiful with a great crowd and a great stadium. I had so many great matches there. Some I lost, some I won, but always a great match. The way United is playing, combined with the way Everton always try to play means it should be a very good match.”Confidence could be an issue in the Everton camp considering they’ve only won one of their last nine games in all competitions. However, they are unbeaten in their last nine Premier League games at Goodison Park, winning five of those.United captain Wayne Rooney will be suspended for today’s game against his boyhood club after picking up his fifth booking of the season in the midweek EFL Cup win over West Ham.Paul Pogba and Marouane Fellaini are back in contention after serving one-game bans of their own, but Luke Shaw is a doubt with an unspecified injury, while Eric Bailly (knee) and Chris Smalling (toe) remain absent.Ronald Koeman says he will face a tough decision when it comes to choosing his team with everyone but long-term absentee Muhamed Besic available for selection.Everton have lost four of their last five meetings with Manchester United in all competitions (W1), with the most recent of those defeats coming in the FA Cup semi-final last season.Manchester United have won at Goodison Park on 15 occasions in the Premier League; at no other away venue have they won more often in competition history.Romelu Lukaku has played for Everton on six occasions in the league against Manchester United without scoring; his most against one team without finding the net for the Toffees.No duo has created more chances for each other in the Premier League this season than Paul Pogba and Zlatan Ibrahimovic (16).Everton have outrun their opponents on just one occasion this season (vs Swansea); a league-low.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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