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  • UK Office for Budget Responsibility Sees Economy Shrinking 11.3% in 2020

    LONDON--The U.K. economy is forecast to record its largest contraction in 300 years in 2020 and government borrowing will hit a peacetime record, the country's fiscal watchdog said Wednesday. The Office for Budget Responsibility forecasts the economy will shrink 11.3% in 2020 and public-sector borrowing for the fiscal year ended in March will reach 394 billion pounds, equivalent to almost 20% of national income, Treasury Chief Rishi Sunak told lawmakers.

  • Stock Futures Pause After Dow's 30000 Milestone

    U.S. stock futures wavered a day after the Dow Jones Industrial Average breached 30000 points for the first time, and as investors looked ahead to a packed day of economic data. Futures tied to the S&P 500 were flat Wednesday. Dow futures fell back below the milestone they hit Tuesday, while Nasdaq-100 futures were up 0.3%.

  • Deere Expects More Machinery Sales as Crop Prices Rise--Update

    Deere& Co. raised expectations for profits next year, anticipating that higher crop prices will lead to improving demand from U.S. farmers for its tractors and harvesting combines. Dry weather in the U.S. this summer contributed to a less robust harvest than anticipated, as demand for wheat, soybeans and corn rose due to higher consumption of dinners and baked goods at home during the coronavirus pandemic. That helped to shrink grain stockpiles and pushed up crop prices, which have...

  • Gap, Deere, HP, Nikola: What to Watch When the Market Opens Today

    Here's what we are watching as markets kick into gear Wednesday:. --U. S. stock futures wavered a day after the Dow Jones Industrial Average breached 30000 for the first time, and as investors looked ahead to a packed day of economic data. --Futures tied to the S&P 500 were up 0.1%, and Dow futures edged down 0.1%.

  • Stock Futures Pause After Dow's 30000 Milestone

    U.S. stock futures wavered a day after the Dow Jones Industrial Average breached 30000 points for the first time, and as investors looked ahead to a packed day of economic data. Futures tied to the S&P 500 edged 0.2% lower Wednesday, suggesting the gauge's two-day run of gains could come to an end. Dow futures fell back below the milestone they hit Tuesday.

  • Gap, Deere, HP, Dell: What to Watch When the Market Opens Today

    Here's what we are watching as markets kick into gear Wednesday:. --U. S. stock futures wavered a day after the Dow Jones Industrial Average breached 30000 for the first time, and as investors looked ahead to a packed day of economic data. --Futures tied to the S&P 500 were flat Wednesday, and Dow futures edged below the key milestone hit Tuesday.

  • Regulatory Pressure Mounts on Coal Miner that Rattled China's Bond Market

    An investigation into a troubled Chinese state-owned coal miner was escalated to the country's securities regulator, as authorities pile pressure on the company whose recent default rattled the bond market. The National Association of Financial Market Institutional Investors, a self-regulating body supervised by China's central bank, said late Tuesday that it had sent leads related to suspected violations of laws and regulations by Yongcheng Coal& Electricity Holding...

  • U.S. Economy Gets Boost as Americans Spend More

    The U.S. economy is heading into the holidays continuing to recover, in large part because Americans continue to boost their spending, particularly on goods. Many reports Wednesday will offer clues about the economy's path this winter. These include Commerce Department data expected to show that consumer spending rose in October for the sixth straight month, while household income declined because of the fading effects of government aid programs, according to economists...

  • Jobless Claims Hold at High Level as Recovery Navigates Covid-19 Surge

    Jobless claims likely held at a high level last week as the U.S. economic recovery navigates a surge in new coronavirus cases and tighter restrictions on businesses in some states. Economists expect unemployment claims ticked down to 733,000 last week from 742,000 a week earlier. Worker filings for unemployment insurance are down sharply from a peak of nearly seven million in late March.

  • Coca-Cola CFO Helps Company Make Cuts, Operational Changes

    Coca-Cola Co.' s finance chief John Murphy is helping the company shrink its product portfolio along with its head count as part of a restructuring effort responding to the coronavirus pandemic. The Atlanta-based beverage giant wants to cut the number of its brands, lay off or buy out thousands of workers and revise its marketing strategy. Those plans are part of a strategic overhaul that began in 2017 to increase collaboration between business units and better understand...

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