McConnell and Pelosi push for relief bill

first_imgSpeaker of the House Nancy Pelosi and Senate Majority Leader Mitch McConnell.Reuters The two most powerful people in Congress — at least for the next two months — renewed their calls for coronavirus stimulus on Friday.A relief deal could prove just as difficult to reach as it did before Election Day.Senate Majority Leader Mitch McConnell, R-Ky., again called for a targeted aid package. In Kentucky, he argued a better than expected October jobs report that saw the U.S. unemployment rate fall to 6.9% reduces the need for a sweeping stimulus bill.- Advertisement – Areas of disagreement between the parties included state and local government aid, enhanced unemployment insurance and liability protections for businesses.Democrats will keep control of the House next Congress, though they will likely lose seats, according to NBC News. Pelosi is expected to serve as speaker for at least one more term.McConnell said earlier this week that he hopes to pass more relief money before the end of the year. How the results of the presidential election will shape President Donald Trump‘s desire to approve a bill during the lame duck session remains to be seen.Though key unresolved states are too close to call in the presidential election, Democrat Joe Biden narrowly leads Trump in Pennsylvania, Georgia, Arizona and Nevada, according to NBC News. Rep. Frank Pallone, D-N.J., appeared with Pelosi on Friday and suggested a Biden presidency would give Democrats more leverage in aid talks.Economists and policymakers, including Federal Reserve Chair Jerome Powell, have warned the economic recovery could lose steam if Congress does not pass more fiscal stimulus. Policies buoying those still unemployed, including supplemental jobless benefits and a federal moratorium on evictions, expired earlier this year.Suspension of federal student loan interest will expire at the end of the year. “I think it reinforces the argument that I’ve been making for the last few months, that something smaller – rather than throwing another $3 trillion at this issue – is more appropriate,” he told reporters, according to Reuters. McConnell noted that he will not necessarily lead the Senate in January: NBC News projects both Republicans and Democrats will hold at least 48 seats, with four races unsettled.Meanwhile, House Speaker Nancy Pelosi called for Republicans to restart aid talks that fell apart before the 2020 election. She told reporters that the “imperative to act could not be greater” after the U.S. posted a record of more than 120,000 new Covid-19 infections on Thursday.Still, she said a narrow bill “doesn’t appeal to me at all.” The chambers of Congress failed to find common ground on relief before the election, as Senate Republicans tried to pass a $500 billion aid bill and House Democrats approved a $2.2 trillion package.- Advertisement –center_img – Advertisement – – Advertisement –last_img read more

Asia stocks sink, Dow confirms bear market after US bans Europe travel on virus

first_imgTokyo’s benchmark Nikkei was down 5.42 percent or 1,051.88 points to 18,364.18, while the broader Topix was down 5.06 percent or 70.15 points to 1,314.97 in the hour after Trump’s address.Australia’s ASX was down 5.4 percent, while Hong Kong tumbled three percent at the open. Read also: To buy it or not: Retail investors are torn amid volatile stock marketThe news also sent the yen higher, with the safe haven currency gaining as uncertainty continues. The dollar fetched 103.63 yen by 0130 GMT, from 104.57 yen in early Asian trade. Stock markets tumbled Thursday after US President Donald Trump announced a 30-day ban on travel to the United States from Europe over the coronavirus.Asian markets were already a sea of red at the open, with traders taking their lead from a global rout as the World Health Organization declared the spread of the new virus was officially a pandemic.But Trump’s announcement of the 30-day ban, which excludes Britain, caused further selling, despite a series of measures intended to ease the financial pain of the outbreak, which has paralysed travel and hit businesses around the world. “Trump travel ban: sell, sell, sell is being heard across dealing rooms in Asia,” wrote Stephen Innes, global chief markets strategist at AxiCorp.”Travel restrictions equal slower global economic activity, so if you need any more coaxing to sell… after a massively negative signal from overnight trading in US markets, it just fell in your lap,” he added.The losses followed another brutal session on the US markets, with wave after wave of bad news, including Hilton withdrawing its earnings forecast and Boeing saying it would suspend most hiring and overtime pay.The coronavirus outbreak has left virtually no sector untouched, though travel and tourism have been particularly hard-hit as countries institute travel bans and quarantine requirements.’Markets crying out’The Dow Jones Industrial Index plunged around 1,465 points, or 5.9 percent, to 23,553.22 on Wednesday, in a bruising session that left the index more than 20 percent below its peak, making it a bear market.Leading stock markets in Europe also retreated, including the FTSE 100 which dropped 1.4 percent despite the Bank of England slashing its key interest rate to a record low and the government pledging $39 billion of fiscal stimulus.Analysts said markets were struggling under the weight of twin crises: the burgeoning coronavirus outbreak and an oil price war.Read also: Disappearing act: Market braces for volatile March after $2.4b vanishes in a weekOil prices also fell sharply after Trump’s comments, plunging more than five percent.The oil market was already under pressure after Saudi Arabia and Gulf partner UAE stepped up a price war with plans to flood the global markets.The move is the latest escalation of a fight among oil producers after Russia balked at an OPEC-backed plan to cut production in response to lost demand from the coronavirus.”The virus itself continues to spread in Europe and the US, meaning more extensive containment measures are likely, which will weigh further on global growth,” said Tapas Strickland, senior analyst at National Australia Bank.”Markets are crying out for a co-ordinated response to COVID-19 headwinds and a lack of concrete US policy action is rattling markets,” he said.Trump’s address included several measures intended to ease the financial burden particularly for small business, including payroll tax relief and deferred tax payments.But the measures did not appear to be enough to convince investors, though Innes said the stepped up US action could herald “an avalanche of global fiscal action across the board” that might cheer markets eventually.Topics :last_img read more

Walters and Westwood sit out Republic training

first_imgHe believes Ireland can trouble the Belgium if they perform as they did for most of the match against Sweden. Walters is recovering from his achillies injury while Westwood has a back problem.The team’s next game in Group E at Euro 2016 is against Belgium on Saturday.Assistant manager Roy Keane has been talking about the system and tactics they may use in the next match.last_img

Alhaji Grusah okays Milovan Rajevac second coming for World Cup

first_imgKing Faisal club president Alhaji Karim Grusah is in full support of the decision to strengthen Ghana’s bench for the 2014 World Cup finals with former coach Milovan Rajevac.According to reports in the Serbian media, Rajevac has been approached by Black Stars coach Kwesi Appiah to serve as an advisor for the tournament.This move has split heads in the country despite Rajavac’s impressive record during his two-year stay.The Ghana Football Association is yet to take a decision on the matter but Grusah believes brining the Serb back on board will aid Ghana’s course.“The decision to bring him back is the best,” Grusah told GHANASoccernet.com“We talk a lot in Ghana including me. We were the reasons Milo (Rajevac) left Ghana. “My Romanian coach is doing well because I understand how to treat these foreign coaches. For me if the FA wants to do well in this year’s World Cup, they will have to stop listening to the media and do what they think can help the team.“Milo is experienced and Akwesi Appiah learnt a lot from him so what is wrong if the coach brings him on board? It will only to the betterment of the team.”The 60-year-old Serbian, affectionately called Milo in Ghana, guided the Black Stars to reach the quarterfinals of the 2010 World Cup finals in South Africa.last_img read more

NBA trade rumors: Celtics’ asking price for Jayson Tatum is ‘insane’

first_imgJayson Tatum doesn’t appear to be going anywhere anytime soon.At least one opposing team tried to acquire Tatum this summer, but the Celtics had an “insane” asking price for him, an executive recently told NBA insider Keith Smith at Summer League. Spend a week in Las Vegas and you can talk to a LOT of people. Not surprisingly, everyone had something to say about the Boston Celtics and what they did this summer. I dumped all the good stuff in this post for @celticsblog! https://t.co/hqp4PNUZab— Keith Smith (@KeithSmithNBA) July 23, 2019Tatum had a standout rookie season but was inconsistent in 2018-19, averaging 15.7 points and 6.0 rebounds in 31.1 minutes per game while shooting 37.3% from 3-point range.The Celtics’ roster underwent a major overhaul this offseason. They lost Kyrie Irving (Nets), Al Horford (76ers) and Marcus Morris (Knicks) in free agency but signed star Kemba Walker away from the Hornets. Related News “I don’t know if there’s anything anyone individually necessarily feels like they should have done or could have done (to keep Irving),” Boston coach Brad Stevens told reporters earlier this month, via the Boston Globe. “That’s part of free agency. You can go where you want at the end of the day. I enjoyed Kyrie. I like Kyrie, and I wish him nothing but health and success. … I don’t fault him one bit for choosing to follow whatever he wants to do. That’s his right.”Boston also added center Enes Kanter while Gordon Hayward is expected to take a step forward after he struggled last season following a devastating leg injury in 2017-18. Danny Ainge thought Kyrie Irving would leave Celtics in free agency: ‘He really wanted to go home’ Tacko Fall could make Celtics’ roster, team taking ‘his development very seriously,’ Danny Ainge says The executive added:“(Tatum’s) going to be an All-Star. If his numbers were down, it’s only because no 19-year-old had been at that level before. Kemba (Walker) is a great addition and (Gordon) Hayward is going to be better, but Tatum is the franchise in Boston.”The Celtics entered last season as the favorites to win the East but finished with a 49-33 record and were eliminated by the Bucks in five games in the conference semifinals. Celtics’ Brad Stevens addresses losing Kyrie Irving, Al Horford in free agencylast_img read more