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Biden, a Democrat, devoted much of his first several weeks in office to passing a $1.9 trillion stimulus bill to limit the pandemic's economic fallout. The American Rescue Plan, passed over Republican opposition, delivered on the key economic promise Biden made on the campaign trail: checks for Americans.
POST the Covid-19 economic recovery, it is generally expected that the price environment will move from deflation (reduction of the general level of prices) to inflation as economic activities and domestic demand improve amid the prevalence of spare capacity in some industries.
MANILA: Jollibee Foods Corp, the largest Philippine restaurant operator, is looking toward foreign expansion and “opportunities” created by Covid-19 as it rebounds after historic losses induced by the pandemic.
In-home consumption will be higher than pre-pandemic levels, as working from home will continue for a portion of the workforce, and financially impacted consumers will dine in-home as it is more cost-effective than dining out.
CHICAGO: Kraft Heinz Co and Conagra Brands Inc said they may choose to raise prices this year on some products that use wheat, sugar and other commodities that are becoming increasingly expensive due to high demand.
KUALA LUMPUR: CGS-CIMB Equities Research estimates the daily economic losses due to the second round of Malaysia’s Movement Control Order (MCO), which takes effect from Jan 13 to 26, at RM750mil.
BENGALURU: U.S. retail sales rose 3% during this year's expanded holiday shopping season from Oct. 11 to Dec. 24, a report by Mastercard Inc said on Saturday, powered by a pandemic-driven shift toward online shopping.
TOKYO: Japan's core consumer prices dropped at their fastest pace since late 2010 in November weighed by government's travel discount campaign and weak energy prices, raising fears of returning to deflation.