US UNEMPLOYMENT CLAIMS SLUMP TO 364,000

Highlights

• According to a report by the US Labor Department released on Thursday, jobless claims fell by 51,000 to 364,000

• The United States stands only next to India in terms of administering doses of COVID-19 vaccine

Showing that the US economy is imp...

US SENATE LEADER CHUCK SCHUMER PROPOSES $52 BN FOR PRODUCTION & R&D OF CHIP IN US

Highlights

• Unveiling the proposal, Schumer said “American manufacturing has suffered rather dramatically from a chip shortage.”

• Along with boosting chip production, this proposal also includes $49.5 billion in emergency supplemental appropriations to ...

FED RESERVE PRESIDENT KAPLAN RAISES PROSPECT OF WORRISOME RISE IN US INFLATION EXPECTATIONS

Highlights

• Dallas Federal Reserve President Robert Kaplan has raised the prospect of a worrisome rise in US inflation expectations

• It is being said that the boost in spending that is helping fuel price hikes will subside once extra savings are gone and government...

US ECONOMY GREW AT ANNUAL RATE OF 6.4 PERCENT IN LAST QUARTER

Highlights

• This growth in the economy showcases impetus provided by government aid and the number of COVID-19 cases going downwards

• As per the economists, the growth in the present quarter is likely to be faster and reach annual pace of 10 percent

&bull...

APPLE PLANNING INVESTMENTS WORTH $430 BILLION IN THE US OVER FIVE YEARS

Highlights

• Apple Inc. is planning to invest more than $430 billion in the US along with generating 20,000 jobs across the country over the period of next five years

• Apple had previously announced five-year goal of $350 billion in the year 2018

Tech gian...

BIDEN ADMINISTRATION COMING UP WITH NEW PROPOSALS ON TAXING MULTINATIONAL COMPANIES

Highlights

• The President Joe Biden administration is coming up with new proposals on taxing multinational companies

• The newly-elected administration is looking to restrict the companies falling under an agreement that would deal with the challenge of taxing incom...

NOT U.S., BUT CHINA WILL BE THE BIGGEST ECONOMY IN THE WORLD BY 2030 SAYS A TECH GROUP

Highlights

• The report drafted by FWD.us, in association with George Mason University, projects that the US economy will be three-quarters the size of China’s by 2050 under current US population trends and immigration levels

According to a study released on Wednesd...

THE INFRASTRUCTURE PLAN WILL CREATE 19 MILLION JOBS SAYS US PRESIDENT JOE BIDEN

Highlights

• The President of the United States, Joe Biden, said that the new infrastructure proposal worth $2 trillion would result in creation of 19 million jobs over the period of next 10 years

• The Biden administration officials have also said that the President...

USTR TAI SAYS SHE WAS MAINTAINING THREAT OF US TARIFFS ON GOODS FROM SEVERAL NATIONS

Highlights

• The USTR announced that her office would be going ahead with steps to impose potential tariffs which is inclusive of filing public notices and collection of public comments

• The USTR was terminating ‘Section 301’ tariff investigations agains...

US, INDIA AGREE TO FURTHER ECONOMIC COOPERATION THROUGH MUTUAL DIALOGUE

Highlights

• The two top level officials had a very productive discussion and the Indian minister congratulated Katherine Tai on her appointment as USTR

• The two sides discussed several issues and agreed to strengthen the India-US trade and investment relationship s...

US UNEMPLOYMENT CLAIMS GO UP TO 770,000 AS LAYOFFS REMAIN HIGH

Highlights

• According to the report released by the Labor Department on Thursday, the jobless claims went up to 770,000 from 725,000 the week before

• The average of four weeks claims plunged to 746,000, which is the lowest since late November

• The L...

US 10-YR TREASURY YIELD ROSE TO 1.74% FOR FIRST TIME SINCE JANUARY 2020

Highlights

• For the first time since January 2020, the U.S. 10-year Treasury yield on Thursday went up to 1.74 percent

• According to the US Federal Reserve, it was expecting higher economic growth and inflation in the country this 2020 and also repeated its pledge ...

FEDERAL RESERVE SAYS US UNEMPLOYMENT RATE TO FALL TO 4.5% IN 2021

Highlights

• As per Fed officials, the gross domestic product is likely to grow 6.5 percent and the inflation is expected to hit 2.4 in 2021 as compared with previous estimation made by the central bank of 1.8 percent

• Powell said “The faster, the better. The ...

US CONGRESS STARTS INVESTIGATION INTO TAX CREDIT WORTH BILLIONS

Highlights

• It is being said that the result of this investigation is likely to play a huge role in the decision made by lawmakers regarding renewal of the subsidy

• This probe is being undertaken by the Government Accountability Office, which happens to be the inve...

IMF SAYS BIDEN’S STIMULUS PROGRAM LIKELY TO BOOST US ECONOMIC GROWTH

Highlights

• Rice said “We see potentially significant positive spillovers in terms of global growth and most countries should benefit from strong US demand, so this will help global growth and recovery.”

• On the other hand, the IMF spokesman also cautio...

UNDOCUMENTED INDIAN IMMIGRANTS IN US HOLD SPENDING POWER OF $15.5 BN: REPORT

Highlights

• This report was made on the basis of the latest available American Community Survey data from year 2019

• Undocumented Indian immigrants are the top third contributor towards the US economy among other undocumented immigrants says the new American Econom...

US STOCKS JUMP THANKS TO COVID-19 RELIEF PACKAGE PASSED BY THE US SENATE

Highlights

• The benchmark S&P 500 index and the Dow Jones Industrial Average index went up on Monday

• The US President Joe Biden said that he had hoped for a speedy passage of the revised bill by the House of Representatives, so he could sign it and send paymen...

US TRADE DEFICIT COURTESY OF IMPORTED GOODS WENT UP BY 1.9 PERCENT IN JANUARY

Highlights

• The Commerce Department reported that the difference between the goods and services the US sold and what it had purchased abroad went up to $68.2 billion from $67 billion in December

• While the exports jumped 1 percent to $191.9 billion, the imports als...

US TO SUSPEND RETALIATORY TARIFFS ON UK PRODUCTS

Highlights

• According to the statement issued by the UK government on Thursday, the tariff suspension will be lasting for four months in order to focus on negotiating a balanced settlement to the disputes

• By removing tariffs on the commerce between the two countri...

US TO DRAFT A LEGISLATIVE PACKAGE TO OUTCOMPETE CHINA, CREATE NEW JOBS & INVEST IN INDIA

Highlights

• On Tuesday, the Senate Majority Leader discussed his push to direct Senate committees to draft a legislation to protect American jobs and outcompete China

• According to Schumer, his intention is to put the legislation on the Senate for a vote this sprin...