Strategy

The Economy

U.S. Retail Sales Fall for Third Consecutive Month

"The further slump in retail sales in December confirms that the continued surge in coronavirus infections is now weighing heavily on the economy."

William Sprouse
January 15, 2021
Global Business

U.S. Government Blacklists Xiaomi and Cnooc

China’s leading smartphone maker and its third-biggest oil driller were added to the list of firms banned from American investment.
The Economy

Unemployment Claims Jump

“This reminds us that the economic crisis has not gone away, far from it, at a time when multiple crises have been vying for our attention.”
The Cloud

Dropbox to Slash 11% of Workforce

The software company has been shifting to remote work, which "means we require fewer resources to support our in-office environment.”
The Economy

Oil Prices Rise as Suppliers Hold Back

U.S. crude oil prices rose above $50 per barrel for the first time since February.
The Economy

CFOs of Middle Market Firms See Recovery in 2021

"For some companies, growth may mean a return to pre-pandemic financial performance, but most believe the deepest hardship is over."
Global Business

Top U.S. Banks to Remove Hong Kong Listed Products

Removal of these 500 structured products is the outcome of an executive order prohibiting investments in companies with links to the Chinese military.
The Economy

U.S. Budget Deficit Climbs to $572B in Q1

The increase in the deficit reflected in part spending on coronavirus relief programs including enhanced unemployment benefits.
The Economy

U.S. Loses 140,000 Jobs Amid New Lockdowns

The December jobs report shows "the economy’s not just tapping on the brakes, but actually has been thrown into reverse."
The Economy

U.S. Trade Gap Hits 14-Year High of $68.1B

Retailers pushed imports of consumer goods to a record as they stocked up for the Christmas holiday season..
The Economy

World Bank Lowers 2021 Growth Forecast to 4%

There is a “material risk” that setbacks in containing the pandemic could result in a much weaker recovery, the bank warns.
Global Business

Airlines Expect Turbulent 2021

Last year's falloff erased two decades of passenger growth.
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