Pandemic Financial News

A summer in which inflation trended lower, jobs remained plentiful and consumers kept spending has bolstered confidence — not least at the Federal Reserve — that the world’s biggest economy will avoid recession. A last-minute deal to avoid a government shutdown kicks one immediate risk a little further into the future. But a major auto strike, the resumption of student-loan repayments, and a shutdown that may yet come back after the stop-gap spending deal lapses, could easily shave a percentage point off GDP growth in the fourth quarter. Add those shocks to other powerful forces at work on the economy — from dwindling pandemic savings to soaring interest rates and now oil prices too — and the combined impact could be enough to tip the US into a downturn as early as this year. Here are six reasons why a recession remains Bloomberg Economics’ base case.

Head Start programs serving more than 10,000 disadvantaged children would immediately lose federal funding if the government shutdown isn't averted

Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars

Federal student loan borrowers will need to start making payments again this month after a three-year-plus pause due to the pandemic

California won’t be giving unemployment checks to workers on strike

Tata Housing will launch 10 million square feet of residential projects over the next 2-3 years with an estimated revenue of Rs 16,000 crore to encash strong consumer demand, a top company official said. In an interview with PTI, Tata Realty and Infrastructure Ltd MD & CEO Sanjay Dutt sounded very bullish about the growth potential in India's housing market and said the company would be launching several projects to tap this rise in demand. «We are launching 10 million square feet residential projects across various cities with a topline of roughly Rs 16,000 crore.» Tata Realty and Infrastructure Ltd (TRIL) is a 100 per cent subsidiary of Tata Sons.

Satya MicroCapital has announced raising $60 million from Japan's Sumitomo Mitsui Banking Corporation Saturday close on the heels of its mobilising another $20 million from the French Development Agency’s private sector financing arm Proparco. The funding will help the New Delhi-based micro loan provider to expand its portfolio. Satya has assets under management of nearly Rs 5000 crore. The fund is raised at around 11% rate, an official with the micro lender said.

By Jan Lopatka and David W. Cerny

PTI, in his address during an event held here, he also said "Chinese belligerence is evident in its continuing propensity to project power outside its region", in turn presenting a "threat to the rules-based international order". General Pande's speech highlighted the recent hosting of the Indo-Pacific Army Chiefs Conclave by the Indian Army, with participation from leaders or delegations of 30 countries bordering the Indo-Pacific region.

Rajkummar Rao, Manushi Chhillar and Saiyami Kher brought some celebrity heft to the Juhu beach clean-up drive here on Friday, a day after hundreds of Ganesh idols were immersed in the sea. The Cleanathon 2.0 2023 Ocean Waste Management event, organised by Divyaj and Bhamla Foundations, saw celebrities joining volunteers and locals to collect debris littered across the vast expanse of the famous waterfront. «This is a very important initiative.

Republican-controlled House has made little progress — most recently with Speaker Kevin McCarthy’s last-ditch plan collapsing Friday. If spending measures aren't passed by Saturday night, millions of federal employees will be furloughed and many others will be forced to work without pay until the shutdown ends. A handful of federal safety services that people rely on everyday are also in jeopardy.

Redfin CEO Glenn Kelman analyzes the state of the housing market after mortgage rates surged past 7% on 'Cavuto: Coast to Coast.'

OSLO (Reuters) — Two groups of investors, including U.S. private equity group Apollo Global Management (NYSE:APO), are bidding for Scandinavian airline SAS, Norwegian daily Aftenposten reported on Friday, citing unnamed sources.

(Reuters) — Air Canada pilots staged a protest at Toronto's Pearson Airport on Friday, demanding better pay and benefits as talks over a new contract covering 4,500 pilots at Canada's largest carrier continue.

Medtronic is seeking to streamline its portfolio and focus on its higher-growth assets, such as its heart and diabetes devices, by divesting the two units which generated approximately $2.2 billion in revenue in the 2022 fiscal year according to the company. The businesses that Medtronic would shed would be moved to a new company majority-owned by Carlyle, the sources said. Medtronic would retain a stake in the new company of more than 35%, the sources added.

Student loan payments start up again for most borrowers in October, but more than 800,000 people who have been paying for years are having their loans forgiven

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By David Milliken and Andy Bruce

Philadelphia schools are coping with a bus-driver shortage by paying parents to drive their children to class. The School District of Philadelphia is paying families $300 a month to opt out of the school bus system and transport their children to and from school. More than 8,500 families have signed up for the program for the current school year, said Monique Braxton, a spokeswoman for the district.

PMO) in the annual Population in Brief report by the National Population and Talent Division. «The total population of 5.92 million as of June 2023 is the highest recorded figure in Singapore's history,» the PMO said. The population rebounded from declines during the COVID-19 pandemic and has since exceeded the 2019 population of 5.7 million.

Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly less affordable housing market