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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WG hockey tops Baldwinsville; Syracuse wins twice

first_img Tags: ice hockeySyracuseWest Genesee Should the West Genesee ice hockey team return to the top of the Section III Division I ranks after a three-year absence, it will look at the final minutes of last Tuesday’s game at Baldwinsville as a turning point.Just when it looked like the two long-time rivals were on the brink of another overtime decision, the Wildcats put together a clutch scoring play, which led to a 3-1 victory.No matter the records or the stakes, every game between WG and B’ville is an intense, physical affair, and more often than not produces a memorable conclusion.So it was again when the two rivals gathered for their lone regular-season meeting at Lysander Arena, the Wildcats trying to stay just behind Syracuse in the Division I standing and the Bees looking to stay in the race, too.Having routed Cazenovia 8-1 in its last outing Jan. 31, B’ville had some confidence, and it played a fine all-around first period, keeping the Wildcats off the board and taking a 1-0 lead with Luke Hoskin’s backhand shot.They stayed that way until Joe McLaughlin tied it in the second period for WG on a goal assisted by Anthony Felix and Jeremy Keyes. Deep into the third period, it remained 1-1.But with two minutes left in regulation, Wildcats captain Billy Fisher broke free and put one past Brad O’Neill, which proved the game-winner as WG tacked on an empty-net goal by Andrew Schneid in the final minute.Fisher and McLaughlin both assisted on goals, as did James Schneid and Jake Kopek. David Myers would stop 21 of B’ville’s 22 shots.Now the Wildcats hoped to turn its attention to Senior Night Friday at Shove Park, where WG would take on Ontario Bay, but it got snowed out and would get made up Tuesday night.As for Syracuse, the same weather that pushed back the WG game with Ontario Bay also moved back its trip north for games on the weekend against Massena and Potsdam.The Massena game had particular drama. Trailing 4-3 late in the third period, the Cougars tied it with an extra attacker on Ryan Durand’s goal, and then had Kaleb Benedict score 30 seconds later for the game-winner in a 5-4 victory.For the game, Benedict had two goals and two assists, with Stephan Matro also scoring twice and earning three assists as Nelson Jones also got an assist.Meeting Potsdam a day later, Syracuse didn’t need last-minute heroics, prevailing 3-1 over the Sandstoners to improve its overall record to 12-4-2, the exact same record of WG.A pair of first-period goals held up, the Cougars adding to its margin in the final period as Matro, Jones and Ethan Petty found the net, with Benedict getting two assists. Ryan Durand and Nick Richards also had assist.Once back home, Syracuse would have its own game with Baldwinsville on Wednesday. That, along with a game against Cicero-North Syracuse two nights earlier, would make it four games in five days and help determine if the Cougars won the regular-season league title and the top seed for the Section III playoffs.Share this:FacebookTwitterLinkedInRedditComment on this Story last_img read more

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WATCH: Sixers’ Corey Brewer gets technical for kicking Torey Craig’s head on dunk

first_img Zhaire Smith health update: 76ers rookie assigned to G League team Corey Brewer received an usual technical foul Saturday.The 76ers forward kicked Nuggets guard Torey Craig in the head on the tail end of a dunk. The referees determined a technical foul was warranted. Brewer signed his second 10-day contract with Philadelphia on Friday. He had eight points on 4-of-4 shooting before receiving the technical. Related News Corey Brewer accidentally kicked Torrey Craig in the head after hanging on the rim… pic.twitter.com/uelV2PeXNj— Bleacher Report (@BleacherReport) January 27, 2019Craig appeared to be fine after the incident. He was just a little shaken up.center_img NBA trade rumors: 76ers looking to add wing player, center before deadline The 76ers have won their last two games, but did not have Jimmy Butler or Joel Embiid available against Denver.last_img read more

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Centre for SA’s future football stars

first_imgThere are currently 56 promising playersenrolled at the NWU Soccer Institute.(Image: Bongani Nkosi)  South African youngster Andile “Ace” Khumalo recently became a professional footballer for local premier league team Amazulu – a move that’s inspired more than 50 other young footballers to follow in his footsteps.Before turning pro Khumalo was part of a scholarship programme at the North West University’s (NWU) Soccer Institute, but Amazulu snapped up the midfielder during this season’s recess after he impressed at trials. He is now based with the team in KwaZulu-Natal province.It’s Khumalo’s former playmates and classmates who want to be just like him. The 56 youngsters are all part of the institute, where they are being primed to become top footballers. They are in their first, second or third year of tertiary study.“I want to become a professional soccer player,” said 21-year-old Simphiwe Mafene during an interview. “We are all here with the same purpose of becoming professional players. “We look forward to stepping into Andile’s shoes,” Mafene added.Midfielder Angelo Kerspuy is another former NWU player who recently secured a place with a top premier league team, Bloemfontein Celtics.Combining sport and academicsThe growing football institute was set up in 2007 at NWU’s Mafikeng campus. It offers a three-year programme combining football training and academic studies.Besides possessing a natural talent for the Beautiful Game, potential students need to attain a university-entrance pass at the end of matric. Promising players are recruited from all over South Africa.Turning out well-educated footballers is part of the programme’s aim. “Gone are the when days when football players were not educated. We are creating something that our students will be able to fall back on when their football is finished,” said Khulu Nsibanyoni, the institute’s manager.If students don’t join top-flight league teams after graduating, other possibilities are to become a coach or an administrator. A total of 10 students from the 2007 class graduated in 2009, and one of them – Machesa Kgomo – is already employed as the institute’s liaison officer.All 56 scholarships are funded by the English Premier League, which in 2007 pumped £300 000 (now about R3.3-million or US$463 350) into the institute. Dave Richardson, the league’s chairperson, visited the institute when it opened three years ago.“Richardson is the man who made it possible for us to secure funding for the scholarships,” Nsibanyoni said.Vodacom LeagueThe 56 students are part of the NWU team that plays in the Vodacom Promotional League, where they compete with other 15 teams from North West province. Teams in the league vie for promotion to the national first-division league, where they then battle it out for a spot in the Premier Soccer League.North West University FC, as the Mafikeng team is known, finished third in the 2009/10 Vodacom League, and is the current champion of the South African universities’ league.Jan “Malombo” Lechaba, former Kaizer Chiefs dribbling wizard, mentors the team. Lechaba said he wants to create more top-quality players. “My fulfilment would be to have produced more than 10 players playing for the national team by 2014,” he said.The players on scholarship have access to state-of-the-art training facilities, unlike most of their Vodacom League competitors. “You can see that our gymnasium is one of the best,” Lechaba said.Starting at grassroots’ levelThe institute works closely with the South African Football Association (Safa), which has endorsed NWU’s development model. It is hoped the model will be used for developing other young South African footballers as well.“We work within Safa’s strategies,” said Johan Govea, the institute’s director.The plan is that NWU will turn out quality players to take Bafana Bafana, the national football squad, to the 2022 Fifa World Cup.A number of the institute’s players have already represented the country, albeit at a junior level. NWU footballers selected for the under-20 and under-23 national teams in the recent past include Sipho Nyafoza and Boalefa Pule.“We want to create a global centre of excellence on African soil. We want to compete with the best in the world,” Govea said.last_img read more

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Russian Oppn figure detained moments after release from jail

first_imgMoscow: Russian opposition politician Ilya Yashin was detained moments after his release from jail on Sunday after completing a 10-day sentence for his role in Moscow’s recent wave of protests. “I have been detained once again outside the jail,” Yashin said on his Twitter account. He posted a video of a policeman saying he was being detained for urging people to take part in unsanctioned protests. The video shows Yashin being escorted into a police van. Also Read – Saudi Crown Prince ‘snubbed’ Pak PM, recalled jet from USYashin was one of several opposition figures excluded from Moscow’s upcoming local elections, triggering a month of protests in the Russian capital. Sunday’s scenario was the same as that following a 10-day sentence meted out after Yashin was arrested ahead of a July 27 unsanctioned protest in Moscow that led to more than 1,400 arrests. After completing the term, he was detained upon his release on August 8 and given an additional 10 days in jail. The Russian opposition has staged several large protests in Moscow this month demanding free elections. The rallies were the biggest since mass protests broke out in 2011 against President Vladimir Putin’s return to the Kremlin after a term as prime minister.last_img read more

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We are so far from any kind of settlement on taxes in

first_imgAPTN National NewsGhislain Picard is the Regional Chief for Quebec in the Assembly of First Nations, and he’s concerned about the Quebec provincial budget that was tabled this week.“This issue really puts in perspective the uncertainty regarding taxations and the whole notion of fiscal relationship with Quebec,” said Picard.“We are supposed to negotiate some kind of arrangements, agreements on the issues regarding taxations, but we are so far from any kind of settlement or agreement on these issues.”last_img

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Barzagli expects a special game for Bonucci

first_imgLeonardo Bonucci and Andrea Barzagli used to be teammates but the first one moved to AC Milan this summer and now, these two teams are about to face each other at Juventus Stadium.For Bonucci, it will be the first time to stand on this ground as an opponent – Barzagli insisted that it won’t be special for Juventus but for sure, it is going to be special for Bonucci.The Italy defender spoke about his former teammate as he said, according to Calcio Mercato:Franck Ribery, FiorentinaFiorentina owner: “Ribery played better than Ronaldo!” Andrew Smyth – September 14, 2019 Fiorentina owner Rocco Commisso was left gushing over Franck Ribery’s performance against Juventus, which he rates above that of even Cristiano Ronaldo’s.“Bonucci? For us, it won’t make much of a difference but this will be a special game for Leo. He will make his return here in Turin as he will be playing against many of his friends. It will be funny to see him in another jersey but then we will be all business like usual. Real Madrid? We would be making a big mistake if we focus on Real since we first have to play against AC Milan.”“The Rossoneri will give it their all so it won’t be easy for us. Napoli are playing well and they will keep putting pressure on us so we have to focus on one game at a time. We have important objectives to reach. These two games against AC Milan and Real Madrid will be crucial for our entire season….”last_img read more

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Japan ready for Colombia with or without Rodriguez

first_imgAmid the growing uncertainty surrounding James Rodriguez’s availability for Colombia in their World Cup opener, Japan’s Yuto Nagatomo insists that they will not change their approach regardlessThe Bayern Munich loan star produced a man-of-the-match display in Colombia’s 4-1 thrashing of Japan in the 2014 World Cup at Brazil.However, his availability for the Tricolors for Tuesday’s Group H opener appears to be in doubt due to a left calf problem.Rodriguez had been absent from Bayern earlier this season with a similar calf problem and he trained separately from the national squad on Thursday and was absent altogether the next day.But for Nagatomo it changes nothing as Japan prepare for their sixth successive appearance at a World Cup.James Rodriguez, Real MadridZidane hails ‘quality’ James Rodriguez after Real Madrid’s win Andrew Smyth – September 14, 2019 Zinedine Zidane reserved special praise for James Rodriguez after his starring role in Real Madrid’s 3-2 win over Levante.“Nothing changes. Whether (Rodriguez) plays or not, no matter who lines up for our opponents, the way we approach the game doesn’t change,” said Nagatomo, according to Japan Times.“The team and coach (Akira) Nishino have a strategy in place that doesn’t depend on whether a certain player is or isn’t in the opposing lineup.”While the Samurai Blue are prepared, either way, midfielder Genki Haraguchi admitted that they would prefer for Rodriguez to be unavailable for Colombia.“He’s their key player, so from our point of view, if he’s not playing, it makes things easier,” said the 27-year-old.The match will take place at the Mordovia Arena in Saransk on Tuesday.last_img read more

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