U.S. Industrial Output Rises Modestly in August
The Federal Reserve reports August production up 0.4 percent with manufacturing up 1 percent, mining down 2.5 percent and utilities down 0.4 percent as the economy’s factory rebound cools after July’s 3.5 percent and June’s 6.1 percent gains. Separately, Jo Malone fires ambassador John Boyega over replacement ad in China. EU court upholds net neutrality. Telenor Magyarorszag’s zero tariff plans blocked.
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U.S
Federal Reserve
John Boyega
Jo Malone
Star
China
Estée Lauder
Boyega
Liu
European Union
European Court of Justice
Google
Netflix
Telenor Magyarorszag
Fed keeps rates near zero after revised operating framework
Federal Reserve officials meet to assess a new framework aimed at keeping the benchmark rate near zero through 2023 and beyond. The central bank will release updated projections, signaling a slower path to rate hikes and a shift to inflation averaging above 2 percent for some time.
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Washington
Federal Reserve
Fed
Jerome Powell
Powell
Lael Brainard
Board of Governors
U.S
Cracks show in UK jobs market as unemployment rises
The UK unemployment rose to 4.1 percent with 1.4 million jobless, a 104000 increase for the three months to July. Analysts warn more layoffs may follow as the government furlough scheme ends Oct 31, with youth unemployment climbing and redundancies at an eight year high.
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London
U.K
Bank of England
Debapratim de
Deloitte
Delta Will Decline CARES Loan Do SkyMiles Backed Debt
Delta Air Lines will reject a $4.6 billion CARES Act loan and instead issue about $6.5 billion in debt backed by its SkyMiles program. The move avoids government equity or warrants and preserves more control while tapping private capital markets amid a steep drop in travel demand. Delta has already received $5.4 billion in CARES aid and faces ongoing cash burn as air travel remains down from the pandemic.
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Atlanta
Delta Air Lines
Delta
U.S. Department of Treasury
Congress
SkyMiles
American Express
SkyTeam Airlines
Cares Act
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Perfume
The
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