Economy

Senate Interest in Big Tech Regulation Grows on Both Sides

Klobuchar antitrust proposal and Hawley ban on mergers up ante for social media companies

Sens. Amy Klobuchar (D., Minn.) and Josh Hawley (R., Mo.)A new bill introduced by Senator Amy Klobuchar (D., Minn.) would radically revamp government antitrust regulation and enforcement, signaling increased willingness by Democratic lawmakers to take on big tech companies.

CNN, Others Delight in Hysterical Ignorance Over GDP Shrinkage

Global pandemics typically aren't good for national economies. On the contrary, they are usually bad. The U.S. economy, for example, contracted 9.5 percent in the second quarter of 2020—the largest quarterly decline in recorded history. The German economy, meanwhile, declined by 10.1 percent.

Job Growth Accelerates in June

WASHINGTON (Reuters) - The U.S. economy created jobs at a record clip in June as more restaurants and bars resumed operations, further evidence that the COVID-19 recession was probably over, though a surge in cases of the coronavirus threatens the fledgling recovery.

Jobs Report Shows Improvement in May Despite Pandemic

WASHINGTON (Reuters) - The U.S. economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.

Report: Democrats Concerned Economy Will Recover

Top Democrats are starting to get concerned. Their hysterical assertions that Republican governors who gradually reopened their economies would have "blood on their hands" proved to be hysterical assertions. And now Democrats worry about the prospect of a strong economic recovery.

Saudi Arabia, Russia Raise Stakes in Oil Price War

DUBAI/MOSCOW (Reuters) - Saudi Arabia said on Tuesday it would increase its crude oil supply to a record high, raising the stakes in its price war with Russia and effectively rejecting Moscow’s overtures for new talks.