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World 02 Dec 2020 | 4:14 AM

U.S. Fed official says additional fiscal support needed to avoid labor market scarring, bankruptcies

WASHINGTON, Dec. 1 (Xinhua) -- Additional fiscal support is needed to avoid labor market scarring and bankruptcies as the U.S. economy struggles to recover from the COVID-19 pandemic, a senior U.S. Federal Reserve official said on Tuesday.

World 02 Dec 2020 | 3:42 AM

Gold rises on technical bounce

CHICAGO, Dec. 1 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the precious metal bounced on technical trading.

World 01 Dec 2020 | 6:44 AM

COVID-19 resurgence poses challenges to economic recovery: U.S. Fed chief

WASHINGTON, Nov. 30 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell said on Monday that the rise in COVID-19 cases, both at home and abroad, could pose challenges to the economic recovery in the next few months.

World 26 Nov 2020 | 6:47 AM

Roundup: U.S. Q3 GDP growth unrevised in second estimate, recovery to slow down in Q4

WASHINGTON, Nov. 25 (Xinhua) -- U.S. economic activity in the third quarter grew at an annual rate of 33.1 percent in a second estimate, after a sharp contraction in the previous quarter, the Commerce Department reported on Wednesday.

World 24 Nov 2020 | 2:33 AM

National Retail Federation expects U.S. holiday sales to grow despite pandemic

WASHINGTON, Nov. 23 (Xinhua) -- The National Retail Federation (NRF) on Monday forecasted that holiday sales during November and December will increase between 3.6 percent and 5.2 percent over 2019 despite uncertainty due to COVID-19.