Mnuchin Urges Congress to Pass More Stimulus Funding

Treasury Secretary Steven Mnuchin urged Congress to appropriate more money to combat the effects of the coronavirus pandemic, saying at a hearing Tuesday that he was ready to sit down with Democratic leaders to resume negotiations. 


 
Fed Official Says Economy Faces High Uncertainty, Prominent Risks

Lael Brainard, a top Federal Reserve official, said the economy faces substantial risks, including the premature withdrawal of government spending, and would require continued stimulus from the central bank. 


 
U.S. Stocks Finish Higher on New Factory Data

U.S. stocks rose after manufacturing data showed the economy continues to bounce back from the coronavirus shutdown. 


 
Rising U.S. Coronavirus Cases Complicate School Reopenings

New U.S. coronavirus cases climbed back above 40,000 after two days of declines, as the virus's spread complicated plans to reopen schools in some parts of the country. 


 
Australia Confirms First Recession in 29 Years

Australia's economy plunged into its first recession in 29 years in the second quarter as the Covid-19 pandemic shut down firms and forced thousands into unemployment, with the outlook remaining murky as the key state of Victoria battles a resurgence of the virus. 


 
Low Rates Needed Despite Inequality, Stability Risks, RBNZ Says

Low interest rates could widen income inequality by pushing up asset prices, but are needed to combat unemployment during the coronavirus pandemic, Reserve Bank of New Zealand Gov. Adrian Orr said. 


 
BOJ Deputy Gov. Wakatabe Hints at Possible Policy Review

One of the Bank of Japan's two deputy governors hinted at the possibility of the central bank reviewing its monetary policy to better serve an economy coexisting with the coronavirus pandemic, following in the footsteps of other major central banks. 


 
NYSE Direct Listings Hit Snag

The New York Stock Exchange's plan to let companies raise capital through direct listings is on pause after an influential group of institutional investors took an unusual regulatory step in a last-ditch effort to block it. 


 
Fuel Rebound Fizzles, Challenging Economy, Industry

After demand for gasoline surged from mid-April to late June, lingering caution among drivers and delayed office and school reopening plans are hindering the recovery in energy markets. 


 
Germany Expects V-Shaped Economic Rebound From Coronavirus

Germany's economy is recovering faster than was anticipated a few months ago, helped by a mild and short coronavirus lockdown, a large-scale fiscal stimulus, and Berlin's close trade links with China, according to new government forecasts.