pandemic

Tech stocks just had their worst two-week stretch since the start of the pandemic

Tech stocks just had their worst two-week stretch since the start of the pandemic

Pedestrians pass by the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images What started as a rebound in the third quarter turned into a flop for tech investors. The Nasdaq fell 5.1% this week after losing 5.5% the previous week. This marks the worst two-week period for the tech-heavy index since it …

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Pandemic Unemployment Benefit Fraud Could Hit $45 Billion, Federal Watchdog Says |  CNN Politics

Pandemic Unemployment Benefit Fraud Could Hit $45 Billion, Federal Watchdog Says | CNN Politics

CNN — Some $45.6 billion in pandemic unemployment benefits may have been fraudulently paid to felons between March 2020 and April 2022, the U.S. Department of Labor’s Office of Inspector General said in a memorandum Thursday. This is the latest report to identify widespread schemes to steal money from a variety of federal relief programs. …

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US watchdog estimates $45.6 billion in pandemic unemployment fraud

US watchdog estimates $45.6 billion in pandemic unemployment fraud

A federal watchdog found Thursday that fraudsters may have stolen $45.6 billion from the National Unemployment Insurance program during the pandemic, using the Social Security numbers of deceased people and other tactics to deceive and defraud the US government. The new estimate represents a dramatic increase from the roughly $16 billion in potential fraud identified …

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A cruel winter is coming for Wall Street as pandemic debts come due

A cruel winter is coming for Wall Street as pandemic debts come due

A banker recently told me that CEOs ‘would have to do something pretty special to go bankrupt’ over the past two years as the government pumped massive liquidity into the market on top of pandemic aid . That is changing, perhaps rapidly, with the Fed raising interest rates and shrinking the size of its balance …

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Global economy weakens amid battling inflation, war and lingering pandemic

Global economy weakens amid battling inflation, war and lingering pandemic

Stubbornly high inflation has raised fears on Wall Street that the Federal Reserve will react by raising interest rates until the United States slips into recession, dragging with it a weakening global economy. As analysts say the US economy grew in the third quarter, signs of trouble are mounting, both at home and abroad. Rising …

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