US economy sees 3% growth, shrugging off hurricanes

The US economy continued to expand at a robust three percent clip in the third quarter despite back-to-back hurricanes, hitting President Donald Trump’s growth target for the second time since he took office, official data showed Friday, GDP growth in the world’s largest economy had its best six-month stretch since mid-2014, handily absorbing the shocks of… Please follow and like us:

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US loses 33,000 jobs in September after hurricanes slam Texas, Florida

WASHINGTON — Hurricanes Harvey and Irma walloped the labor market last month, causing the nation to lose jobs for the first time in seven years, the Labor Department said Friday. Total nonfarm employment declined by 33,000 net jobs in September compared with an upwardly revised gain of 169,000 the previous month. The Labor Department said 1.5… Please follow and like us:

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This hurricane season has been brutal—but it’s not over yet. What’s coming next?

At least we’ve passed the peak. The Atlantic Ocean on September 28, 2017. CIRA/RAMMB/NOAA We’re finally past the peak of hurricane season in the Atlantic Ocean. This is welcome news for folks who live along the coast, but by no means are we out of the woods yet. Hurricane seasons—especially years this active—can crank out some… Please follow and like us:

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Carnival Corp. posts $1.3 billion third-quarter profit

DORAL, Fla. — It’s been a disruptive few weeks for cruise lines as three major hurricanes — Maria, Irma and Harvey — forced many to relocate ships or shorten itineraries to avoid the massive storms and bypass severely impacted ports. On Tuesday, cruise giant Carnival Corp. & PLC said it expects the voyage disruptions from temporary… Please follow and like us:

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Federal Reserve will start reducing stockpile of bonds it bought to stimulate the economy

WASHINGTON — it bought to try to stimulate the economy, another milestone in the central bank’s efforts to return to a normal monetary policy after the Great Recession. The long-awaited reduction in the Fed’s $4.5 trillion balance sheet comes… Please follow and like us:

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Fed rate hike remains uncertain after Harvey, Irma

Two hurricanes slammed into the United States within two weeks, taking a bite out of economic growth, and adding to doubts about the potential for a third interest rate hike this year. The Federal Reserve is widely expected to leave interest rates untouched after the two-day policy meeting this week, but economists are split on whether… Please follow and like us:

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White House: Unprecedented Mobilization Under Way to Help Florida, Caribbean

An unprecedented rescue and relief response by the United States is under way not only in Florida, but also in the Caribbean following Hurricane Irma, according to the Trump administration. It is “the largest-ever mobilization of our military in a naval and marine operation,” for relief operations, White House Homeland Security Advisor Thomas Bossert told reporters… Please follow and like us:

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Global stocks climb, S&P hits record as concerns ease over North Korea, Irma

Global stocks rallied Monday, with Wall Street finishing at a fresh record, on receding worries about North Korea and Hurricane Irma, which caused less damage to the US than feared. Bourses in Paris, Frankfurt, New York, Tokyo and Hong Kong all climbed one percent or more. The S&P 500 ended at a fresh record, bolstered by… Please follow and like us:

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China raises yuan rate to 16-month high as dollar sags

China raises yuan rate to 16-month high as dollar sags China raised the exchange rate for the yuan against the US dollar for the 10th consecutive session on Friday, pushing the unit to its highest level in 16 months. The People’s Bank of China (PBOC) set the value of the yuan — also known as the renminbi — at 6.5032 to the dollar, up 0.36 percent… Please follow and like us:

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Hurricane Irma threatens the United States with power rarely seen

Florida residents should prepare for the worst. Hurricane Irma NOAA/Dennis Mersereau One of the most powerful hurricanes ever recorded in the Atlantic Ocean will soon slam into the Antilles before setting its sights on the continental United States. Hurricane Irma grew into a scale-topping category five storm on Tuesday, making it the second major hurricane to… Please follow and like us:

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