Overseas Headlines – September 10, 2020

United States:

More Americans Are Quitting Their Jobs. That’s a Good Sign

“The number of U.S. workers who voluntarily left their jobs in July increased to a five-month high, indicating more Americans are becoming sanguine about their prospects of finding a new position as the economy recovers. So-called quits climbed by 344,000 to nearly 3 million during the month, Labor Department figures showed Wednesday. The number of job leavers as a share of total employed rose to 2.1%, creeping closer to the 2.3% that was prevalent before the coronavirus shut down the economy.”



ECB Keeps Its Crisis Support Steady With Recovery Fragile

“The European Central Bank kept its emergency monetary stimulus unchanged as the region enters a critical phase in its recovery from the coronavirus crisis. President Christine Lagarde and her colleagues held their pandemic bond-buying program at 1.35 trillion euros ($1.6 trillion) and the deposit rate at -0.5% on Thursday, maintaining the flood of liquidity that has calmed markets and kept borrowing costs low. Follow the ECB decision and press conference on our live blog. While officials are becoming more confident in the rebound from the worst economic shock in living memory, the upturn has slowed and new risks lie ahead. Infections are rising again and the stronger euro could weigh on inflation. Economists expect the ECB to increase and extend bond purchases later this year.”



India Considers $23 Billion Package to Lure Global Manufacturers

“India is planning to offer incentives worth 1.68 trillion rupees ($23 billion) to attract companies to set up manufacturing in the South Asian nation, people with knowledge of the matter said. Prime Minister Narendra Modi’s government will offer production-linked incentives to automobile manufacturers, solar panel makers, and specialty steel to consumer appliance companies, according to documents reviewed by Bloomberg News. Textile units, food processing plants and specialized pharmaceutical product makers are also being considered for the plan.”




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