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The consequences of Cedar Point’s shocking $20 wage on Sandusky’s tourism economy

SANDUSKY, Ohio – Business should be booming this summer in Sandusky, as tourists return in droves following a year of pandemic-induced isolation. There’s a problem, however: Many employers can’t find workers to staff their restaurants and retail operations, forcing them to cut back hours and turn away customers or contemplate major wage increases they say […]

Should you be worried about valuation of smallcaps?

Players with strong balance sheets and strong brands in the midcap and smallcap space are gaining market share from unorganised players, says Aishvarya Dadheech, Ambit Asset Management in this interview. Edited excerpts: Let us start by understanding your thoughts on smallcaps. Do you find froth in valuations?Midcaps and smallcaps outperformed largecaps in calendar year 2020. […]

Will dollar continue its ascent after this week’s Fed meeting?

The US dollar index gained strength on Friday after trading stable around 90 all through the week. The index rose in the US session on Friday and has closed at 90.51, up 0.38 per cent for the week. The euro falling sharply from 1.2193 to a low of 1.2093 on Friday aided the dollar index […]

Plenty of growth, not enough workers or supplies for U.S. economy

Employers last month added 559,000 jobs on top of 278,000 in April. Those would ordinarily be seen as quite healthy numbers. Yet against the backdrop of record-high job openings and free-spending consumers, forecasters had expected much more hiring. Some economists had envisioned the recovery from the pandemic recession driving monthly job growth of 800,000, 900,000, […]

G7 leaders promise to share Covid jab doses, energise global economy

The leaders opened the three-day summit on Friday with expectations of a pledge to donate one billion vaccine doses to poor countries this year and the next. But, campaigners described the pledge as far too little, too late. G-7 leaders, and European Commission President Ursula von der Leyen, European Council President Charles Michel sit around […]

Letters: Reject the feds’ added unemployment benefits and boost the economy | Letters

Gov. John Bel Edwards should reject the $300 a week extra unemployment checks. Most of the states whose governors have rejected the feds’ $300 a week extra, on top of regular unemployment checks, have more prosperous economies than Louisiana. They also have a lower unemployment percentage than Louisiana’s 7.3% April 2021 unemployment rate. A trip […]

UPDATE 1-IMF forecasts robust economic growth for Guatemala through 2023

(Updates with details) June 11 (Reuters) – Guatemala’s economy is expected to expand by 4.5% this year according to a projection from the International Monetary Fund (IMF) released on Friday, as Central America’s biggest market begins to recover from a pandemic-induced slump. The Washington-based international lender sees 2021 growth prospects bolstered by a U.S. economic […]

PRECIOUS-Gold eases as dollar firms on bets for ‘transitory’ inflation

* Gold slips below $1,900/oz mark * U.S. CPI rises 0.6% in May * Palladium on track for a weekly decline (Recasts, adds comment, updates prices) June 11 (Reuters) – Gold prices edged lower on Friday as the dollar held steady with some investors betting on rising U.S. consumer prices being temporary. Spot gold was […]

Posen Says U.S. Economy Is in ‘Very Good Shape’

June 11th, 2021, 1:19 AM GMT+0000 Adam Posen, a former Bank of England policy maker and now president of the Peterson Institute for International Economics, discusses the prospects of the U.S. economy, fiscal and monetary policies. He also talks about the disputes between the U.S. and China. He speaks with Shery Ahn and Haidi Stroud-Watts on “Bloomberg Daybreak: Asia.” […]

How COVID forced the planet’s luckiest raincheck

But commitments are one thing. Delivery is another. To give you a sense of the challenge to deliver necessary emissions cuts, remember that in 2020 the pandemic temporarily shuttered billions of businesses around the world. As offices, factories and vehicles fell idle, global CO2 emissions fell by about 7 per cent. Now imagine this: the […]