US consumer spending increased for the second consecutive month in June, setting consumption for a rebound in the third quarter, although the recovery could be limited by a resurgence in the Covid-19 cases and the end of expanded unemployment benefits. The Commerce Department said on Friday that consumer spending, which …
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The numbers: Americans increased spending on a variety of goods and services in June as more people returned to work and massive infusions of government aid flowed through the economy, but progress appears to have slowed lately after a recent surge in coronavirus cases. Personal spending rose 5.6% in June, …
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Fuel prices are displayed at an Exxon Mobil Corp. service station in Arlington, Virginia, USA, on Wednesday April 29, 2020. Andrew Harrer | Bloomberg | fake pictures Exxon said Friday that it lost $ 1.1 billion in the second quarter amid “global oversupply and COVID-related demand impacts.” It was the …
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Chevron reported a loss of $ 8.3 billion in the second quarter, as the coronavirus pandemic “significantly reduced demand.” Amid a historic drop in oil prices, the company’s average price per barrel of oil and natural gas liquids fell more than 60% year-over-year. The oil giant lost $ 1.59 a …
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Facebook and Google logos Peter Foley / Bloomberg | fake pictures Google and Facebook may be forced to pay Australian news publishers to distribute their content, in a landmark regulatory move by the country’s competition regulator. Australia’s Competition and Consumer Commission was tasked with the government earlier this year to …
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