The Latest Breaking News from Economy

Drop in US GDP challenges Biden's pitch to voters

The latest report on gross domestic product is complicating President Joe Biden’s pitch that the U.S. economy is strong

The Independent UK · Apr 28, 2022

Analyst Slash Earnings Estimates For Alibaba, Baidu, Others Again Amid Surging Covid Environment

Analysts slashed the earnings estimates for the Chinese technology giants for a second straight month amid the nation’s persistent goal of its Covid-Zero strategy, Bloomberg reports. Analysts trimmed Alibaba Group Holding Limited (NYSE:BABA) estimates by 4.2% and Baidu, Inc (NASDAQ:BIDU) by 8.1%. U.S.-listed shares of Baidu have lost 10% in April, while those of Alibaba…

Benzinga · Apr 28, 2022

Google inks deal with TS govt. for digital economy for youth, women entrepreneurs

HYDERABAD

The Hindu · Apr 28, 2022

Mid-Morning Market Update: Markets Open Higher; US Economy Contracts 1.4% In Q1

U.S. stocks traded higher this morning with the Dow Jones gaining 300 points on Thursday.

Benzinga · Apr 28, 2022

US economy saw ‘unexpectedly severe’ drop in first three months of year

US economy contracted by -0.4% in first quarter, its weakest quarter since the early days of the pandemic

The Guardian - US · Apr 28, 2022

US economy posts surprise contraction, belying solid consumer picture

The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to solid consumer demand.

Tribune News Service · Apr 28, 2022

US economy posts surprise contraction with trade gap surging

The U.S. economy unexpectedly shrank last quarter, the first contraction since 2020, as a ballooning trade deficit and softer inventory growth belied an otherwise solid consumer and business demand picture.

Tribune News Service · Apr 28, 2022

Economy shrinks for first time in nearly two years

But the details are not as alarming as the headline would suggest.

Axios · Apr 28, 2022

US economy shrank by 1.4% in Q1 but consumers kept spending

The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4% annual rate, yet consumers and businesses kept spending in a sign of underlying resilience

The Independent UK · Apr 28, 2022

Wang Tao: How China’s Covid Lockdowns Will Impact Its Economy

Beijing may fine-tune its Covid policy gradually if met by staunch public resistance or severe economic losses, but when and how this change could occur remains the biggest macro uncertainty

Caixin Global · Apr 28, 2022