Business

WASHINGTON (AP) – American consumers increased spending by a record 8.2% in May, partially erasing huge declines in the previous two months, in the context of an economy that is likely to be slowing down at its fastest pace recorded this quarter. The pickup in consumer spending last month followed …

NEW YORK – The coronavirus crisis deepened in Arizona on Thursday, and the Texas governor began to back down after making one of the most aggressive efforts in the nation to reopen as the daily number of confirmed cases in the US during the dark days of late April. While …

But the new restrictions announced by the Federal Reserve underscore the uncertainty of the outlook due to the coronavirus pandemic, with the United States registering a daily maximum for new cases on Thursday amid an increase in infections in states such as Texas, California and Florida. What’s Happening: The Federal …

The bill, introduced by DC non-voting member of the House of Representatives, Del. Eleanor Holmes Norton, would reduce the federal capital to a small area encompassing the White House, the Capitol building, the Supreme Court and other buildings along the National Mall. The rest of the city would become state …

The growing anti-China sentiment in India has had no material impact on the Chinese smartphone maker Xiaomi, the company’s head in India said on Thursday. In the past six years, Xiaomi India has built a strong local culture and company, Managing Director Manu Kumar Jain told CNBC’s “Street Signs Asia”. …