Finance
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Elon Musk makes major political donation to House Republicans
The tech mogul donated a total of $289,100 to the NRCC in August, according to the FEC filing. But despite the six-figure donation, the NRCC only raised $9.7 million in August while Democrats raised $22.2 million.
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Stock markets close at record highs following Federal Reserve cuts
The Dow Jones Industrial Average closed at 522 points on Thursday, which is a new record, and the S&P 500 also set a record by rising 1.7%. The Nasdaq Composite added 2.5%.
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Fed Chair Powell: Migrant border crisis causing rising unemployment
The slowing hiring rate is also a factor behind the growing unemployment, Powell said.
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Feds say GDP fell 31.4% in April-June quarter; economists project equal third quarter rebound
GDP measures the economy’s total output of goods and services.
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Disney to lay off 28,000 full and part-time employees, citing prolonged theme park shutdowns
Roughly 67% of the laid-off workers are part-time employees, Disney executive Josh D’Amaro said in the memo.
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New Jersey to enact 'millionaires tax,' as state revenue drops by $10 billion amid coronavirus
The Democrat-led state has agreed to raise the tax rate on residents making more than $1 million.
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Weekly unemployment number holds steady at 884,000
Weekly unemployment numbers exceeded 1 million in late August
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Last four months have produced largest job growth in history, economist Stephen Moore says
"May, June, July and August have been the four biggest months of job creation in the history of the United States," Moore said on a radio program.
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Insidious debt 'going to eat at our national income, like termites,' warns budget expert
"We can debit people's bank accounts without touching them because all we do is print more money," says Marc Goldwein. "Your bank account stays with the same dollar amount, it becomes worth less." Goldwein says average Americans should care about the nation's rising deficit and debt: "What's going to happen is your income is just going to grow a little bit slower than it otherwise would each year, year after year, and so you might not feel it at any moment in time, but it accumulates and ultimately can create a lot of pain."
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Dow Jones plummets more than 800 points on Thursday
Thursday's decline drops the Dow below 29,000 again after it had risen above 29,000 on Wednesday for the first time since February.
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First-time jobless claims drop after two weeks of increases
The number of claims last week was roughly 1.2 million, about 249,000 less than the previous week
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Goldman Sachs reaches nearly $4 billion settlement with Malaysia over 1MDB scandal
The investment bank has agreed to pay $2.5 billion in cash and guarantee the recovery of at least $1.4 billion in assets
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Lack of U.S. coin availability represents yet another consequence of the coronavirus pandemic
The health scare has interrupted the normal circulation of coinage and lead to availability shortages.