British economy unexpectedly grows by 0.2% in second quarter largely because of June weather boost
The British economy unexpectedly grew in the second quarter of the year, largely as a result of a strong rebound in June when many businesses particularly in the leisure sector benefited from the warm and settled weather.
Building a do-it-yourself air purifier is easier than you think
Known as the Corsi-Rosenthal box, it pulls air through filters on the sides and blows out clean air. It’s proven to reduce indoor exposure to airborne particles. The box can decrease the levels of particles in the air, such as dust or wildfire smoke.
As gas prices rise in the US, countries around the world are feeling pain at the pump even more
According to data from globalpetrolprices.com, 46 countries has gas prices that are $6 a gallon or more, 26 have prices that are at least $7 a gallon while nine countries have gas prices that are $8 a gallon or more.
Here are the best, worst days to travel for the 2021 holiday season
Whether you’ve already booked holiday travel plans, or you’re waiting for the last minute to make sure there aren’t restrictions, there are certain things to keep in mind about which days will be best to travel, and what resources might be more scarce than in years past.
UK economy ended 2020 better than previously thought
The pandemic has battered the British economy, which has suffered its deepest recession in more than 300 years. (AP Photo/Matt Dunham)LONDON – Official figures show that the British economy ended 2020 on a stronger footing than previously thought but that it suffered a bigger than anticipated fall in output in the immediate aftermath of the first coronavirus lockdown. In its latest revisions for 2020 data, the Office for National Statistics said Wednesday that the British economy contracted by 19.5% during the second quarter, the first full quarter of lockdown. Overall, the agency said, the British economy ended 2020 9.8% smaller, slightly better than the previous estimate of 9.9%. The U.K. as a whole has had Europe’s deadliest coronavirus outbreak, with over 126,000 people having died after testing positive for COVID-19.
Indian economy shrinks 7.7% in fiscal 2020-21 amid pandemic
India's economy contracted by 7.7% in the 2020-21 financial year, battered by the coronavirus pandemic, according to a report released Friday. (AP Photo/Anupam Nath)NEW DELHI – India's economy contracted by 7.7% in the 2020-21 financial year, battered by the coronavirus pandemic, according to a report released Friday. A country enters a technical recession if its economy contracts for two successive quarters. The downturn followed a strict two-month lockdown imposed across the country beginning in March to combat the pandemic. That was followed by a $35.14 billion package to stimulate the economy by boosting jobs, consumer demand, manufacturing, agriculture and exports hit by the coronavirus pandemic.
Senate juggles nominees, coronavirus relief, impeachment trial
WASHINGTON – As President Joe Biden continued to implement his strategy to save lives during the coronavirus pandemic, the Senate was juggling his Cabinet nominees, his proposed $1.9 trillion relief package and preparations for an impeachment trial. House Speaker Nancy Pelosi announced on Thursday that she will send the article of impeachment to the senators who will be serving as jurors in the trial on Monday. If at least 17 Republicans convict Trump, the Senate could prevent Trump from running for office again. Sen. Rick Scott is among the Republicans who oppose both the impeachment trial and Biden’s relief package, which includes a proposal for an additional $1,400 direct payment. Today’s Biden storiesToday’s Trump stories
Another recession looms for UK economy as lockdowns bite
The Office for National Statistics said that as a result of the fall, the economy is 8.5% smaller than its pre-pandemic peak. Because of the November fall, the economy is set to contract again in the fourth quarter. “The economy took a hit from restrictions put in place to contain the pandemic during November, with pubs and hairdressers seeing the biggest impact," said Darren Morgan, director for economic statistics. The hope is that the rollout of coronavirus vaccines — the U.K. is ahead of many other countries — will see a pick-up in activity later this year. ___Follow AP coverage of the coronavirus pandemic at:https://apnews.com/hub/coronavirus-pandemichttps://apnews.com/hub/coronavirus-vaccinehttps://apnews.com/UnderstandingtheOutbreak
UK economy bounces back in summer but faces wintry chills
The London streets are nearly deserted during the first full week of a four-week coronavirus lockdown in England, but some are calling to allow businesses to reopen their doors to kickstart the city economy. The imposition of new limits on public life in the autumn means the economy will likely end the year even smaller. The Office for National Statistics said Thursday that the economy grew by 15.5% in the July to September period. Despite the third-quarter improvement, the statistics agency said the economy was still 9.7% below where it was at the end of 2019. In addition to virus developments, the British economy remains hobbled by uncertainty over the future trade relationship between the U.K. and the EU.
IMF blames resurgent coronavirus for UK growth downgrades
(AP Photo/Frank Augstein)LONDON – The International Monetary Fund has downgraded its growth forecasts for the British economy for this year and next, following an acceleration in the number of coronavirus infections over the past couple of weeks. In its annual assessment of the British economy published Thursday, the Washington D.C.-based body lowered the forecasts it made just two weeks ago. Instead of shrinking by 9.8% this year, the Fund now expects the British economy to contract by 10.4%. The other U.K. nations — Scotland, Wales and Northern Ireland — have also imposed fresh restrictions in recent weeks. After that, the British economy contracted by nearly a quarter before the restrictions started to be eased and large sections of the economy reopened.
UK urged to conclude trade deal with EU to limit Brexit cost
In its latest survey of the the British economy, the Paris-based Organization for Economic Cooperation and Development said Wednesday that a trade deal that ensures a close relationship will minimize the costs of Brexit. The OECD warned that the economy will be further hobbled by a rise in unemployment, which has been largely held in check this year by a wage support program. A trade deal would ensure there are no tariffs and quotas on trade in goods between the two sides, but there would still be technical costs, partly associated with customs checks and non-tariff barriers on services. According to the OECD, even a smooth trade deal would see the British economy around 3.5% smaller in coming years than it would have been had it remained within the EU. British Prime Minister Boris Johnson had set a summit of EU leaders on Thursday as the deadline for a trade deal, but the talks are widely expected to continue for a few more weeks.
UK economy slump not as bad as feared but still a record
LONDON – The British economy did not contract as much as originally thought during the second quarter of the year when coronavirus lockdown measures were at their most intense — though the slump remained the worst on record. The Office for National Statistics said Wednesday that the British economy contracted by 19.8% in the April to June quarter from the previous three-month period, slightly less than its previous estimate of 20.4%. It now estimates that the economy shrank by 2.5% in the first quarter, against 2.2% previously. “It is clear that the U.K. is in the largest recession on record," the statistics agency said. Since May, when lockdown measures started to be eased, the British economy has managed to eke out three months of growth, which has helped it recoup around half of the output lost.
Global economic outlook not as bad as expected - OECD
PARIS – The global economy is not doing as bad as previously expected, especially in the United States and China, but has still stuffered an unprecedented drop due to the coronavirus pandemic, an international watchdog said Wednesday. The global economy is expected to rebound and grow by 5% next year, the organization said. The OECD upgraded its forecast for the U.S. economy, anticipating a contraction of 3.8% this year instead of a plunge of 7.3% forecast previously. The Paris-based organization, which advises developed countries on economic policy, urged governments not to raise taxes or cut spending next year “to preserve confidence and limit uncertainty." “The aim must be to avoid premature budgetary tightening at a time when economies are still fragile,” it said.
Live events industry feels economic plunge in South Florida
MIAMI – As the coronavirus pandemic began to impact South Florida and officials were forced to implement safety measures, workers and entrepreneurs in almost every sector experienced the economy’s downturn during the April-June quarter. She is the owner of Café Ala Carte and Chocolate Fountains of South Florida. She said there are 12 million other business owners like her who depend on the live events industry. “We don’t see our industry coming back until the end of the first quarter of 2021.”Fimiano does advocacy work for the South Florida Chapter of the National Association of Catering and Events and International Live Events Association. She recently helped to organize a protest for business owners in front of Sen. Marco Rubio’s office in Miami-Dade County.
What gifts NOT to buy on Father’s Day, according to one survey
For those who are stumped about what kind of gift to buy for Father’s Day, maybe one suggestion that could help is this: Start with what not to buy for the occasion. Coupon Lawn surveyed more than 1,000 fathers in the United States to see what their most unwanted gifts were for Father’s Day. The survey found that 46% of people buy clothes as Father’s Day gifts. The responses found that 30% of fathers dislike receiving these, even though 59% of people who get gifts on Father’s Day buy cards. Coupon Lawn said as part of its survey that $5.3 billion is spent on unwanted Father’s Day gifts, although that is half of the $10.5 billion the site said is spent on unwanted Mother’s Day gifts.
All the questions we are asking ourselves as return of youth sports takes shape
With more states lifting stay-at-home orders and loosening restrictions, it could lead to the return of youth sports sidelined by the COVID-19 pandemic. While organizations in just about every state are formulating plans to return, some states have already set in motion dates for a return to action. The Ohio Department of Health said youth leagues for non-contact and limited-contact sports were able to start May 26, Texas Gov. Greg Abbott said youth sports and camps could start back up May 31, with games likely starting in mid-June, while Florida Gov. For more serious and expensive travel sports, this might be about the time organizations start seasons and playing prominent tournaments, but the clock is ticking.
5 tips to start a franchise in a pandemic economy
Historically, economic downturns have been among the best times for people to start franchises. With the COVID-19 pandemic causing unemployment rates to soar quickly, starting a franchise might be on people’s minds. Diana Trondsen, a small business and franchising expert who is also a consultant with FranNet, offered five suggestions for those interested in starting their own franchise. When first considering whether to start a franchise, whether it’s a food or retail store, taking the time to analyze your life situation and then brainstorm the best ideas are essential. When researching what type of franchise to open, one needs to see how well competitors have done in that community.
Big box rules: Target’s online push readied it for pandemic
NEW YORK – Online sales at Target more than doubled as the pandemic put millions in lockdown during the first quarter, revealing further the critical role big box stores played in getting supplies to an immobilized population. The pandemic has widened an already growing rift between big box retailers that deftly followed consumers online, and those, particularly mall-based clothing chains, that have struggled. Walmart this week reported a 74% surge in U.S. online sales for the first quarter. A years-long campaign by Walmart and Target to challenge Amazon.com online was, as it turns out, a dry run for a pandemic. Its stores were directly involved in supplying goods for 80% of online sales.
Nordstrom to close Dadeland Mall store
MIAMI-DADE COUNTY, Fla. – Nordstrom announced Friday the store in Dadeland Mall in Miami-Dade County will not survive the coronavirus pandemic’s economic crisis. Nordstrom will also be closing its Cafe Bistro at 7231 N. Kendall Dr. The store closed March 17 and the company promised employees pay and benefits during the two-week period. Erik Nordstrom, the company’s chief executive officer, released a statement on Tuesday saying the pandemic accelerated the plan of investing in digital capabilities. Nordstrom first released the complete list of the stores, which also includes one in Naples, to Business Insider.
Coronavirus pandemic wipes out decade of job gains in 1 month
Without a vaccine to prevent the coronavirus disease, economists warn the downturn in the leisure and the hospitality industries is just beginning. On Friday, the feds reported the unemployment rate surged to 14.7% -- erasing a decade of job gains in one month. Some economists estimate the U.S. unemployment rate actually nears 24%. Without a vaccine, economists expect a lot of false starts. I fear that we are going to see yet another round of layoffs even as workers are called back.”More expert opinions:
30 million have sought US unemployment aid since virus hit
WASHINGTON – More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s. Some outside reviews suggest that the number of job losses is likely even higher than is captured in the weekly unemployment claims. White Americans made up 55% of workers seeking jobless aid in March, African-Americans nearly 15%. This figure is much lower than the total number of people who have sought unemployment aid since the virus struck, in part because it lags behind by one week. Many laid-off workers in the United States are still struggling to obtain unemployment aid.
Need for free food during coronavirus pandemic ‘has only gotten worse,' commissioner says
HIALEAH GARDENS, Fla. – Drivers in need during the coronavirus pandemic started to arrive at about 2 a.m. on Wednesday to Hialeah Gardens High School. Within a few hours, an L-shaped line of cars curved from Hialeah Gardens Boulevard and stretched on Okeechobee Road. A Farm Share truck arrives early Wednesday morning to Hialeah Gardens from the non-profit organization's warehouse in Homestead. We opened a compassionate call center in our city, so Monday through Friday, 8 a.m. to 6 p.m., we have phone lines going, if residents need anything." Sunrise residents can call 954-746-3670 or email CompassionOfficer@sunrisefl.gov for more information.
DeSantis on Florida’s jobless: ‘We need to get people paid’
Ron DeSantis said Florida has issued 121,000 payments to people who filed for unemployment insurance benefits. DeSantis also said Florida has also issued 23,000 payments to people who are unemployed and qualified for the federal supplement checks. Florida’s benefit is $275 a week and the federal benefit is $600 a week. “We need to get people paid,” DeSantis said. DeSantis also issued an executive order to avoid forcing people who receive the unemployment insurance benefit to file bi-weekly updates on their employment status.
DeSantis to form new task force to plan re-opening businesses amid coronavirus pandemic
“We obviously have got to be thinking about what the next steps are for the State of Florida,” DeSantis said. In South Florida, that may begin with the reopening of parks and outdoor spaces, then move to restaurants, with masks and proper social distancing. The task force will also consider the reopening of public schools amid the coronavirus pandemic, which epidemiologists around the world are fighting with mitigation strategies that include social distancing and isolating both symptomatic and asymptomatic patients. “If it’s safe, we want kids to be in school,” DeSantis said. “I think most parents want that.”DeSantis said he will be announcing the members of the task force later this week.
Florida airports to get $896 million in aid during coronavirus pandemic
MIAMI – The U.S. Department of Transportation announced Tuesday the Federal Aviation Administration will award more than $896 million to 100 airports in Florida. The airport receiving the most funding in the state is Miami International Airport with nearly $207 million. Fort Lauderdale-Hollywood International Airport will receive nearly $135 million. Palm Beach International Airport will receive $36.6 million. North Perry Airport, Miami Executive Airport, Palm Beach County Park and North Palm Beach County General Aviation will each receive $69,000.
Why are liquor stores considered ‘essential’ during COVID-19 pandemic? Here are 5 reasons
But diving into the issue more closely, the reasons why liquor stores remain open and thriving become a little clearer, even if they are debatable to some. Here are five reasons why it can be beneficial for liquor stores to remain open during the pandemic. Given this, liquor stores technically fall under the category of “food and agriculture” on the level of grocery stores and pharmacies, and thus, are considered essential. Grocery stores don’t have the selection of liquor stores. Do you agree that liquor stores should be considered essential, and thus, be allowed to remain open?
IMF head says global economy now in recession
WASHINGTON – The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. She announced that Kyrgyzstan would receive the first IMF support package of $120.9 million to deal with adverse effects of the virus. “We have seen an extraordinary spike in requests for IMF emergency financing,” Georgieva said. She said the IMF was also looking for ways to expand its current lending facilities to provide more help to countries. Georgieva said the IMF also wanted to find ways to provide more debt relief to the poorest countries.
Need some income as pandemic continues to unfold? Here are jobs that are more in-demand than ever
There are many jobs that are high in demand during the coronavirus pandemic, which, at the very least, can be a short-term Band-Aid to the financial worries people have. Here are some jobs in which people can make some cash, right now:Delivery driversYou could drive for a number of companies right now. With the pandemic further driving online retail sales, employees who can deliver those increased orders for companies are like gold right now. Grocery store helpThis isn’t much of a revelation, especially for those who have waited in long lines and seen empty shelves at grocery stores in recent weeks. Did we miss any other jobs that have grown in demand in the wake of the coronavirus pandemic?
Roller-coaster week ends with bond yields, stocks sinking
After skidding sharply through the day as fear pounded markets, steep drops for stocks and bond yields suddenly eased up in the last hour. Earlier in the day, the S&P 500 had been down 4%. Friday's drop for the S&P 500 was the latest swing in a remarkably turbulent week. It was only two weeks ago that the S&P 500 set a record high, on Feb. 19. MARKET ROUNDUP:The S&P 500 fell 51.57, or 1.7%, to 2,972.37.
Climate activists from African nations make urgent appeal
Climate activist Vanessa Nakate, right, speaks via video-link as Ell Ottosson Jarl and Greta Thunberg, center, also attend a press conference with climate activists and experts from Africa in Stockholm, Sweden, Friday Jan. 31, 2020. “African activists are doing so much,” Nakate said. No continent will be struck more severely by climate change, the U.N. “Because climate change is not specific about the kinds of people it affects.”For her part, Thunberg firmly returned the spotlight to the activists from African countries. Nakate urged the audience to make 2020 the year of action on climate change after young activists in 2019 put the issue squarely at the center of global discussions.
Backatcha: Thunberg returns Trump's climate jibe
Swedish environmental activist Greta Thunberg takes her seat prior to the opening session of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 21, 2020. The 50th annual meeting of the forum will take place in Davos from Jan. 20 until Jan. 24, 2020. “The facts are clear, but they are still too uncomfortable for you to address,” she told business and political leaders in Davos just after Trump's speech, also without directly mentioning the president. Last month, Trump told Thunberg in a tweet to “chill” and to “work on her Anger Management problem." Thunberg noted that the remaining carbon “budget” to confidently meet that target stood at just 420 gigatons of CO2 two years ago, the equivalent of 10 years of global emissions.
Taco Bell to offer jobs with $100,000 salary
LOUISVILLE – Think a job at a fast-food restaurant means low pay? Think again... and then make a run to Taco Bell. The popular fast-food chain is set to offer store managers at some stores a competitive $100,000 salary to help attract and keep workers. Brands, which owns Taco Bell, will begin to offer the competitive salaries, as well as beginning new roles for employees who want leadership experience, but don’t want to be managers. Labor inflation is forcing companies to find new ways to attract employees and keep them happy.