World Bank Warns of Worst Recession in Eight Decades
The World Bank projects global GDP shrinking 5.2 percent in 2020, with emerging economies falling 2.5 percent and per capita output dropping in over 90 percent of countries. The report warns 70 to 100 million people may fall into extreme poverty while advanced economies contract sharply. China growth slows to 1 percent, India to minus 3.2, and the U.S. to minus 6.1.
MENTIONED IN THIS ARTICLE
World Bank
Washington-based Development Organization
Ceyla Pazarbazioglu
Equitable Growth, Finance and Institutions
China
India
U.S
Possible shortest recession ends as May hires rebound
Government data show 2.5 million jobs added in May signaling potential bottom to the downturn. World Bank warns of deep global recession with 5.2 percent activity drop this year. Experts caution about vaccine timing, virus control, and a slow return to pre pandemic habits. Diane Swank notes May hiring could mark end but recovery may take years.
MENTIONED IN THIS ARTICLE
World Bank
International Monetary Fund
Ernie Tedeschi
Investment Bank
Evercore
ISI
Tedeschi
U.S
Swank
Miller Plating buys 940 Lafayette for 617000 mill and Carlisle Brake expands
Miller Plating will invest 617000 to purchase the 940 Lafayette Road site formerly Medina Plating Co. plant, with grant terms up to 40 percent of new payroll taxes for four years and a yearly cap of 7125. Carlisle Brake plans 1.9 million in upgrades, adding payroll of nearly 5.6 million by late 2020, with seven year payroll tax grants up to 34741 while keeping current 16.4 million annual payroll. Police praise peaceful Public Square vigils honoring George Floyd, and Medina resident Nathan D Case asks Council to overturn the cancellation of this year’s Independence Day parade and fireworks.
MENTIONED IN THIS ARTICLE
Miller Plating
Lafayette Road
Medina Plating Co
Carlisle Brake
Medina
Marshall
Greg Huber
Public Square
Hanwell
Minneapolis
George Floyd
Kinney
Nathan D. Case
East Washington Street
Case
Council
Democrats push sweeping police reform package in Congress
Democrats in Congress unveiled the Justice in Policing Act to overhaul police procedures and accountability, limit protections for officers, create a national misconduct registry, ban choke holds, expand body camera requirements, and curb military equipment transfers. The plan faces a tough path in a polarized election year with Republicans, unions, and some lawmakers signaling reservations, while activists push for broader change and transparency.
MENTIONED IN THIS ARTICLE
Washington
Congress
Donald Trump
America
House
Nancy Pelosi
Senate
Capitol
Emancipation Hall
George Floyd
Floyd
Trump
White House
Capitol Hill
LAW & Order
Joe Biden
Andrew Bates
Justice Department
House Judiciary Committee
Jerrold Nadler
D-N.y
Karen Bass
D-Calif
Bass
Congressional Black Caucus
Mitch McConnell
Louisville
Breonna Taylor
GOP
Japan economy contracts less than first estimate
The Cabinet Office in Tokyo reported a January March annualized GDP decline of 2.2 percent, improved from 3.4 percent. On quarter basis the drop was 0.6 percent, with private demand stabilizing. Analysts expect a gradual rebound as global reopenings boost demand and consumption.
MENTIONED IN THIS ARTICLE
Tokyo
Japan
Also Mentioned on This Page
Pazarbazioglu
Gita Gopinath
IMF
Federal Reserve
Germany
Bloomberg Economics
Dennis Hanwell
Ed Kinney
Bob Finnan
Rfinnan
Medina-Gazette. Com
McConnell
Mitt Romney
Utah
Judiciary Committee
Lindsey Graham
R-S.c
Will Hurd
Texas
Houston
Michael Brown
Ferguson
Eric Garner
New York
Rep
Hakeem Jeffries
Biden
Cory Booker
Kamala Harris
The
Associated Press
Yoshimasa Maruyama
Smbc Nikko Securities
Ere
Auto Grizzlyan
Liberty St
Grizzlyautoand Thre.com
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