Business

China says its economy grew 3.2% in the second quarter

China reported that the country's GDP grew by 3.2% in the second quarter of this year, compared to a year ago — beating analysts' expectations and rebounding from the first quarter's contraction. It comes as lockdowns to contain the coronavirus outbreak in China eased, and as Beijing rolled out stimulus measures to prop up its economy. Economists polled by Reuters expected gross domestic product to have grown modestly at 2.5% in the April to June quarter. China's first quarter GDP contracted by 6.8% in 2020 from a year ago as the world's second largest economy took a huge hit from the coronavirus outbreak. This was the country's first GDP decline since at least 1992, when official quarterly records started. China's official GDP figures are tracked as an indicator of the health of th...

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Trump shakes up campaign staff, demotes top manager Brad Parscale as polls show him behind Biden

Brad Parscale Getty ImagesPresident Donald Trump announced a new campaign manager for his 2020 re-election, four months before voters head to the polls and he lags behind his Democratic rival, former Vice President Joe Biden. Trump said in a social media post that he is removing his top campaign manager, Brad Parscale, and tapping Bill Stepien, his deputy campaign manager and a veteran Republican operative, to take over. Stepien was campaign manager to both of former New Jersey Gov. Chris Christie's gubernatorial runs and served as his deputy chief of staff, but was fired in 2014 following the Bridgegate scandal that plagued the Republican lawmaker. "Both were heavily involved in our historic 2016 win, and I look forward to having a big and very important second win together," Trump...

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American Airlines backs calls to extend billions in federal aid through March

A member of a ground crew walks past American Airlines planes parked at the gate during the coronavirus disease (COVID-19) outbreak at Ronald Reagan National Airport in Washington, April 5, 2020. Joshua Roberts | ReutersAmerican Airlines' top executives on Wednesday backed efforts to extend billions in federal aid to protect aviation jobs through March as the pandemic's impact on travel threatens tens of thousands of positions. Some $32 billion in federal aid was set aside to protect jobs in the U.S. airline industry, and it prohibited employers from cutting positions through Sept. 30 under the CARES Act relief package that lawmakers passed in March. But with that deadline looming and a surge in U.S. coronavirus cases hurting a nascent recovery in travel demand, some lawmakers and la...

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American Airlines warns 25,000 employees about potential job cuts as coronavirus continues to sap demand

An airline employee walks past empty American Airlines check-in terminals at Ronald Reagan Washington National Airport in Arlington, Virginia, on May 12, 2020. ANDREW CABALLERO-REYNOLDSAmerican Airlines on Wednesday warned about 25,000 front-line employees — roughly 29% of its U.S. mainline workforce — that they could be furloughed this fall, the latest carrier to prepare staff for job cuts as surges in coronavirus cases dash hopes for a quick rebound in travel demand. The airline also urged employees to take new extended leaves that can last up to two years or early retirement packages to get as many people off payroll as possible before having to involuntarily cut their jobs.  American's revenue in June was down more than 80% than a year ago, CEO Doug Parker and President Robert Is...

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Hackers appear to target Twitter accounts of Elon Musk, Bill Gates, others in digital currency scam

Elon Musk looks on as US President Donald Trump attends SpaceX launch at the Kennedy Space Center in Florida on May 27, 2020. Brendan Smialowski | AFP | Getty ImagesA tweet sent by Elon Musk's account on Wednesday asked for Bitcoin and promised to "double all payments" sent to an address. It was the beginning of a wave of takeovers of high-profile Twitter accounts, including Apple, Uber, Amazon CEO Jeff Bezos, Microsoft founder Bill Gates, former New York City mayor Mike Bloomberg, Democratic presidential candidate Joe Biden, and several cryptocurrency-related companies. Twitter's stock is down 4% after hours as the company struggles to get the hack under control and has so far provided zero information about it. One wallet linked to in the tweets had apparently received over 11 bit...

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Supreme Court Justice Ruth Bader Ginsburg discharged from hospital

Supreme Court Justice Ruth Bader Ginsburg at The Library of Congress on February 14, 2020 in Washington, DC. (Photo by Shannon Finney/Getty Images) Shannon FinneyJustice Ruth Bader Ginsburg was discharged from Johns Hopkins Hospital in Baltimore on Wednesday, one day after she was admitted with a possible infection, a Supreme Court spokesperson said in a statement.  "She is home and doing well," the spokesperson said.  The 87-year-old liberal was treated after reporting fever and chills and underwent a procedure to clean out a bile duct stent that was placed in August. On Tuesday, the court said that Ginsburg would remain in the hospital "for a few days to receive intravenous antibiotic treatment."  Ginsburg's health has attracted widespread concern because a vacancy on the court co...

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Dr. Anthony Fauci says he hasn’t thought about resigning despite White House criticism

National Institute of Allergy and Infectious Diseases Director Anthony Fauci attends the daily coronavirus briefing in the Brady Press Briefing Room at the White House on April 09, 2020 in Washington, DC. U.S. unemployment claims have approached 17 million over the past three weeks amid the COVID-19 pandemic. Alex Wong | Getty ImagesWhite House coronavirus advisor Dr. Anthony Fauci said he hasn't thought about resigning despite criticism in recent days from President Donald Trump and other administration officials about his response to the coronavirus pandemic.  Fauci, director of the National Institute of Allergy and Infectious Disease, said he told the White House he found it "bizarre" and thought the administration made a "big mistake," but his job is too critical to quit now, acco...

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Fauci says White House’s ‘bizarre’ efforts to discredit him hurt Trump, adds Peter Navarro is ‘in a world by himself’

Director of Trade and Manufacturing Policy Peter Navarro speaks to members of the press outside the West Wing of the White House June 18, 2020 in Washington, DC. Alex Wong | Getty ImagesDr. Anthony Fauci said that he has not considered resigning from his lead role in the fight against the coronavirus pandemic, and said the "bizarre" recent efforts from White House officials to discredit him ultimately harm President Donald Trump. "I cannot figure out in my wildest dreams why they would want to do that," Fauci said in an interview with The Atlantic published Wednesday. Fauci was responding to a list shared over the weekend by a White House official that resembled an opposition research-type document used in political campaigns, highlighting Fauci's past comments about the virus. "I th...

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