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Economic impact

U.S. retail sales slow amid pandemic, lack of fiscal stimulus

U.S. retail sales slow amid pandemic, lack of fiscal stimulus

By: Lucia Mutikani
Source: Reuters
Date of Publication: November 17th, 2020
U.S. retail sales increased less than expected in October and could slow further, restrained by spiraling new COVID-19 infections and declining household income as millions of unemployed Americans lose government financial support.
Give me a W, V, and a K: describing the post-COVID economic outlook

Give me a W, V, and a K: describing the post-COVID economic outlook

By: Dhara Ranasinghe, Ritvik Carvalho, Elizabeth Howcroft
Source: Reuters
Date of Publication: November 13th, 2020
What appeared to be a sharp V-shaped growth rebound from the first pandemic lockdown, now seems like a “W” -- these are among the myriad of letters and signs economists are using to describe the outlook for a world turned upside down by COVID-19.
U.S. weekly jobless claims drop modestly

U.S. weekly jobless claims drop modestly; labor market recovery cooling

By: Lucia Mutikani
Source: Reuters
Date of Publication: November 5th, 2020
The number of Americans filing new claims for unemployment benefits fell only slightly last week, adding to signs that the economic recovery was losing steam as the COVID-19 pandemic intensifies and fiscal stimulus ends.
Walmart to sell operations in recession-hit Argentina, taking $1 billion hit

Walmart to sell operations in recession-hit Argentina, taking $1 billion hit

By: Adam Jourdan, Eliana Raszewski
Source: Reuters
Date of Publication: November 6th, 2020
Walmart Inc, the world’s largest retailer, said on Friday it was selling its retail operations in Argentina to South American supermarket chain owner Grupo de Narváez, pulling back as the country grapples with an economic crisis.
COVID-19-Briefing-note-25-September-30-final

COVID-19 and the great reset: Briefing note #25, September 30, 2020

Source: McKinsey
Date of Publication: September 30th, 2020
Executives are more hopeful about the economy than they have been at any time so far during the COVID-19 crisis. Is an end to the pandemic at hand?
Six months into the pandemic, the US economic outlook is getting gloomier - CNN

Six months into the pandemic, the US economic outlook is getting gloomier

By: Annalyn Kurtz
Source: CNN
Date of Publication: September 21st, 2020
Six months. It may feel like an eternity, but that's how long it's been since states started enacting stay-at-home orders.
Coca-Cola bottlers are feeling flat, even as U.S. grocery sales sparkle

Coca-Cola bottlers are feeling flat, even as U.S. grocery sales sparkle

By: Richa Naidu, Martinne Geller
Source: Reuters
Date of Publication: September 17th, 2020
Williams’ business is one of nearly 70 U.S. Coca-Cola “bottlers” - third-party, independent companies that put Coke and other beverages into cans and bottles and deliver the drinks to retailers and restaurants in every corner of the country. The future of such companies is not only critical for their owners and employees, but also key for their main supplier - Coca-Cola, the world’s No.1 soft drink maker - which needs them to flourish to help it recover from a slump in sales.
The creative way Amazon’s Audible is helping restaurants survive COVID-19

The creative way Amazon’s Audible is helping restaurants survive COVID-19

By: Nate Berg
Source: Fast Company
Date of Publication: August 10th, 2020
Over the past 13 years, Audible has made an effort to integrate itself into the Newark community. When the pandemic struck, it doubled down.
S&P dips on worries about earnings, data, stimulus and election

S&P dips on worries about earnings, data, stimulus and election

By: Sinéad Carew
Source: Reuters
Date of Publication: July 30th, 2020
The S&P 500 and Dow closed lower on Thursday after data painted a worrying economic picture on a crucial day for corporate earnings reports, while President Donald Trump exacerbated investor nervousness by floating the possibility of delaying the U.S. presidential election.
Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown

By: Jeff Cox
Source: CNBC
Date of Publication: July 30th, 2020
The U.S. economy suffered its worst period ever in the second quarter, with GDP falling a historic 32.9%. Economists surveyed by Dow Jones were looking for a decline of 34.7%. Neither the Great Depression nor the Great Recession nor any other slump over the past two centuries have ever caused such a sharp drain on the economy.