Remove Adjustments Remove Government Remove Shutdown
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NY Fed President: Gov’t Shutdown Could Hinder Economic Growth

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While the Fed has hinted that it has been adjusting its U.S. 18) that the shutdown has become a hindrance for the economy, Financial Times reported. The news comes as Federal Reserve Chairman Jay Powell said earlier this month that an extended government shutdown could be damaging to the U.S.

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Gov’t Shutdown Costs Creep To $11B

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A new report says that the government shutdown has cost the country about $11 billion in gross domestic product, and will impact the United States’ economic growth for the rest of the year. And although federal employees will receive back pay now that the government is back at work, most contractors will not.

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Zest AI CEO: Artificial Intelligence Is Reshaping Lending and Credit

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The rest will go toward developing partnerships with governments and regulators “to raise the bar” when it comes to modern, unbiased lending. While governments and regulators are partly responsible for the current bias-fighting trend, de Vere said the real push is coming from the banks themselves. Ensuring Inclusive Banking.

AI 138
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Cash App Drives Square Strong Q2 Results

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Adjusted earnings per share were 18 cents. Chief Financial Officer Amrita Ahuja told reporters on a call Tuesday night Cash App saw meaningful uplift from customers who deposited government stimulus and unemployment checks. Square saw its shares skyrocket Tuesday (Aug. CNBC reported the company had $1.92 But not all the news was good.

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Consumer Morale Up In Major European Economies

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Compare the French shutdown to the economic damage — approximately $11 billion — the United States’ government shutdown caused in early 2019. In Italy, consumer confidence in January 2020 grew to 111.8 from 110.8 in December of last year.

Economy 56
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Another 4.4M Americans File Unemployment Claims

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The advance seasonally adjusted insured unemployment rate of 11 percent was for the week ending April 11, reflecting an increase of 2.8 The numbers are down about 810,000 from last week’s figures of 5.24 The four-week average is 5.8 million, an increase of 280,000 from the previous week’s revised average.

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SMBs Turn To Barter To Ease Uncollected Receivables Burden

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At the height of the pandemic, shutdowns led to many firms closing their doors, and even with restrictions easing, many companies will never recover. It's been a really rough adjustment for a lot of them.". Today's business climate is rough. It's a juggling act.".