US deficit soars to record amid pandemic relief payments

Massive government rescue payments to help businesses and households survive the economic hit from the coronavirus drove a record surge in the US deficit last month, the Treasury Department said Monday. Want to know more on US deficit soars to record amid pandemic relief payments click here go to market news source. Market news summary from ABS-CBN Market News.Author:

Stocks slam into reverse as virus keeps scarring economy

NEW YORK  — Wall Street got a painful reminder of the threat the coronavirus pandemic poses to the economy Monday, and a big early gain for stocks suddenly flipped to losses after California rolled back its reopening plans amid a spike in cases. The S&P 500 fell 0.9%, with all the losses accumulating in the […] The post Stocks slam into reverse as virus keeps scarring economy appeared...

WHO says countries taking ‘wrong direction’ on virus

The World Health Organization warned Monday that too many countries were bungling their response to the coronavirus pandemic, meaning there could be no return to normality any time soon. After a daily record of 230,000 new COVID-19 cases reported on Sunday, the UN health agency said the pandemic was only going to get worse unless people stuck to the basics of physical distancing, handwashing, wearing masks and staying...

WHO says no return to ‘normal’ as Latin America deaths pass US

Too many nations are mismanaging their coronavirus response, placing a return to normality a long way off, the World Health Organization warned Monday as Latin America recorded the world’s second-highest death toll. Exhausted medical workers in Peru, as Latin America’s number of coronavirus deaths passed the US and Canada on Monday (AFP/ MANILA BULLETIN) With new infections spreading like wildfire, many countries were reimposing restrictions on Monday, locking...

7 children, 2 women killed in Yemen air strike: UN

Seven children and two women were killed in an air raid in northwest Yemen, a UN agency said Monday, as Riyadh said it intercepted missiles fired by Yemeni Huthi rebels. Yemeni gunmen loyal to the Huthi movement brandish their weapons during a rally in the capital Sanaa, to show support to the movement against the Saudi-led intervention in their country (AFP Photo/Mohammed HUWAIS) The UN Office for the...

Pompeo says Beijing claims in South China Sea ‘unlawful’

Secretary of State Mike Pompeo said Monday that the US would treat Beijing’s pursuit of resources in the dispute-rife South China Sea as illegal, ramping up pressure on another front. “We are making clear: Beijing’s claims to offshore resources across most of the South China Sea are completely unlawful, as is its campaign of bullying to control them,” Pompeo said in a statement. The US has...

California again shuts indoor restaurants, bars, movie theaters over virus

California Governor Gavin Newsom on Monday ordered all indoor restaurants, bars and movie theaters to close again as coronavirus cases soar across the state. People wear face masks while shopping in Los Angeles in early July 2020 — California Governor Gavin Newsom has now ordered shopping malls, indoor restaurants, bars and movie theaters to close again statewide as virus cases surge (AFP Photo/Frederic J. BROWN) Churches as well...

Trump fuels, then downplays, tensions with virus expert Fauci

President Donald Trump said Monday he has a “very good” working relationship with America’s top infectious disease specialist, despite repeatedly undercutting the respected scientist amid the coronavirus pandemic. For several days Trump has hurled criticism at Anthony Fauci, a senior member of the president’s coronavirus taskforce who has warned, sometimes in blunt language, that US officials and citizens have not done enough to fight the pandemic. “I have...

Global coronavirus infections top 13 million: AFP tally

More than 13 million coronavirus infections have now been recorded across the world, with more than half in the US and Latin America, according to an AFP tally of official sources at 2000 GMT on Monday. At least 13,000,166 cases and 569,990 deaths have been recorded and the US is the worst-hit country with 3,341,838 cases and 135,425 deaths, the tally showed.  The number of cases...

Peru plans to reopen Machu Picchu on July 24

Peru’s ancient Inca citadel Machu Picchu will reopen to tourists on July 24, the local governor announced Monday. Cusco governor Jean Paul Benavente said details were still being finalized but “in principle, July 24 is the confirmed date for the reopening.” “Some elements linked to the biosecurity protocols are being finalized,” Benavente told AFP.  Transport links from Cusco, 70 kilometers (42 miles) from Machu Picchu — including buses,...

Commentary: Artificial intelligence and automation would actually benefit Singapore

Machine learning and other digital innovations can help Singapore businesses and workers increase productivity and maintain their competitive edge, says NUS Professor Kenneth Huang.Want to know more on Commentary: Artificial intelligence and automation would actually benefit Singapore click here go to market news source. Market news summary from Channel News Asia Business News.Author:
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