Overseas Headlines – October 8, 2020

United States:

U.S. Jobless Claims Declined Last Week While Remaining Elevated

“The number of Americans seeking unemployment benefits fell for a second week while remaining elevated, as the labor market makes scant progress amid risks of further weakness without additional federal stimulus. Initial jobless claims in regular state programs decreased by 9,000 to 840,000 in the week ended Oct. 3, with the prior week’s figure revised higher by 12,000, Labor Department figures showed Thursday. Continuing claims, the total number of Americans on state benefit rolls, fell to 11 million in the week ended Sept. 26, a bigger-than-expected drop.”



Boris Johnson Plans Extra Help for U.K. Businesses Hit by Covid Rules

Boris Johnson’s government has drawn up rescue measures for U.K. businesses struggling to cope in areas forced into local Covid lockdowns, as ministers prepare to impose tighter rules within days. No firm date has been set for rolling out the package, which is dependent on changes to the restrictions as the pandemic unfolds, according to people familiar with the matter. But an assistance package may be needed imminently as Johnson’s team considers tightening restrictions further, with changes likely on Monday.”



BOJ Paints Less Gloomy View of Regional Economies as Activity Picks Up

“The Bank of Japan delivered the most wide-ranging upgrade of its regional economic assessment in seven years amid continued signs of improvement in activity from the depths of the Covid-19 slump. The central bank improved its view on eight of Japan’s nine regions in its quarterly Sakura report, the equivalent of the Federal Reserve’s Beige Book survey. The less pessimistic tone of the latest report is likely to be reflected in a quarterly outlook released by the BOJ later this month along with its policy statement.”



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