It was six days ago when Donald Trump, after weeks of confusing and contradictory messages, announced that he was pulling the plug on bipartisan talks on an economic aid package. White House officials said the process was over and negotiations would not begin anew before the elections.

It was four days ago when the president, realizing he’d “messed up tactically,” began calling for renewed talks on economic aid.

And it was three days ago when Trump told Rush Limbaugh that his newest position was the opposite of the one he’d held earlier in the week.

“I would like to see a bigger stimulus package than, frankly, either the Democrats or the Republicans are offering,” Trump said on an appearance of the Rush Limbaugh Show on Friday, acknowledging it was “the exact opposite” of his initial demands.

I realize that the president doesn’t generally keep up on current events, but when

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(The opinions expressed here are those of the author, a columnist for Reuters)

FILE PHOTO: Aluminium bar stock is seen inside a factory in Dongguan, China, April 10, 2018. REUTERS/Bobby Yip/File Photo

LONDON (Reuters) – China’s imports of unwrought aluminium rose again in August, extending a rare inversion of normal trade patterns.

Combined imports of primary metal and unwrought alloy totalled 393,000 tonnes, just shy of the previous record of 394,000 tonnes in April 2009.

For the second consecutive month the world’s largest producer was a net importer of aluminium in all forms.

It’s no coincidence that the only reference point for such high imports is the global financial crisis. That was the last time aluminium demand experienced the sort of hit now being generated by the COVID-19 pandemic.

Now, as then, China’s recovery is proving faster and more powerful than anywhere else. China’s smelters are responding by lifting production,

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It is easy to blame Kohl’s (NYSE: KSS) problems on COVID-19. Admittedly, government stay-at-home orders and the retailer shutting its doors to the public for a time hurt recent results. In its fiscal second quarter, which ended on Aug. 1, revenue dropped by 23% to $3.4 billion.

However, taking a closer peek at past results, Kohl’s sales were sluggish before the pandemic. After all, a company doesn’t announce it will lay off 15% of its corporate workforce if it faces a temporary setback.

A woman wearing a mask and an anguished look on her face is packing a box.

Image source: Getty Images.

Where are the customers?

Management is trying to get people into its stores, including a well-publicized deal last year with Amazon. Under this arrangement, people can return merchandise that they’ve ordered from Amazon to a Kohl’s store. Kohl’s employees take care of packing it up, putting on a label, and sending it back to Amazon.

Last year, management claimed that the deal

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But this total number isn’t expected to last. Champion said he expects that the Waltham-based division of the footwear designer will have stores numbering “somewhere in the mid-100s,” with most closings taking place by the end of next year. A spokeswoman for the company later clarified that this number reflects Champion’s personal speculation, and not a confirmed corporate plan.

Clarks, a.k.a. C&J Clark International Ltd., sells its shoes — Wallabees, Bostonians, and Desert Boots, among many others — at its own stores as well as through wholesale channels. Champion said customers have been slow to return to indoor shopping malls, but Clarks stores in outdoor lifestyle and outlet centers tend to be performing better than those in malls. Still, it still has been a tough slog. (The company’s US portfolio is roughly split in half: 115 shops in outdoor centers, and 99 indoors.)

“We overextended our brick-and-mortar portfolio,” Champion said.

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KEY POINTS

  • Empire Wind has a potential total installed capacity of more than 2 GW
  • The power generation from each site would be sufficient to power more than 1 million homes
  • Equinor has committed to increase renewables capacity to 4 to 6 GW by 2026

Two of Europe’s largest oil companies will develop offshore wind projects jointly in the U.S. in yet another example of energy giants migrating towards the development of renewables.

Equinor (EQNR) of Norway said it has entered into an agreement to sell a 50% stake in two of its U.S. offshore wind projects to Britain-based BP (BP) for $1.1 billion.

The transaction is expected to close in early 2021.

The two projects – Empire Wind and Beacon Wind – are located off the coast of New York state and Massachusetts, respectively.

Under this deal, Equinor and BP will form a strategic partnership to develop more offshore

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Japan’s economy sank deeper into its worst postwar contraction in the second quarter as the coronavirus jolted businesses more than initially thought, underscoring the daunting task the new Prime Minister faces in averting a steeper recession.

Other data put that challenge in perspective, with household spending and wages falling in July as the broadening impact of the pandemic kept consumption frail even after lock-down measures were lifted in May.

The world’s third-largest economy shrank an annualised 28.1 per cent in April-June, more than a preliminary reading of a 27.8 pe cnet contraction, revised gross domestic product (GDP) data showed on Tuesday, suffering its worst postwar contraction.

The main culprit behind the revision was a 4.7 per cent drop in capital expenditure, much biggest than a preliminary 1.5 per cent fall, suggesting the Covid-19 pandemic was hitting broader sectors of the economy.

“We can’t expect capital expenditure to strengthen much ahead.

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a group of people walking on a city street: FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Tokyo


© Reuters/KIM KYUNG-HOON
FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Tokyo

By Leika Kihara and Daniel Leussink

TOKYO (Reuters) – Japan’s economy sank deeper into its worst postwar contraction in the second quarter as the coronavirus jolted businesses more than initially thought, underscoring the daunting task the new prime minister faces in averting a steeper recession.



Yasutoshi Nishimura wearing a suit and tie: Japan's Economy Minister Yasutoshi Nishimura attends a joint news conference with Tokyo Governor Yuriko Koike in Tokyo


© Reuters/Issei Kato
Japan’s Economy Minister Yasutoshi Nishimura attends a joint news conference with Tokyo Governor Yuriko Koike in Tokyo

Other data put that challenge in perspective, with household spending and wages falling in July as the broadening impact of the pandemic kept consumption frail even after lock-down measures were lifted in May.

The world’s third-largest economy shrank an annualised 28.1% in April-June, more than a preliminary reading of a 27.8% contraction, revised gross domestic product (GDP) data showed on Tuesday, suffering its worst postwar contraction.

The record drop roughly matched a

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By Leika Kihara and Daniel Leussink

TOKYO (Reuters) – Japan’s economy sank deeper into its worst postwar contraction in the second quarter as the coronavirus jolted businesses more than initially thought, underscoring the daunting task the new prime minister faces in averting a steeper recession.

Other data put that challenge in perspective, with household spending and wages falling in July as the broadening impact of the pandemic kept consumption frail even after lock-down measures were lifted in May.

The world’s third-largest economy shrank an annualised 28.1% in April-June, more than a preliminary reading of a 27.8% contraction, revised gross domestic product (GDP) data showed on Tuesday, suffering its worst postwar contraction.

The record drop roughly matched a median market forecast of a 28.6% contraction in a Reuters poll.

The main culprit behind the revision was a 4.7% drop in capital expenditure, much biggest than a preliminary 1.5% fall, suggesting the

Read More

(Bloomberg) — Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and subscribe to our Covid-19 podcast for the latest news and analysis on the pandemic.

The U.K. economy will likely be smaller at the end of 2021 than it was before plunging into a record recession this year, according to a Bloomberg survey that casts fresh doubt over Bank of England projections.

Calculations based on the median estimate of economists polled this month show gross domestic product is set to be around 5% below its pre-pandemic level. The central bank sees output fully recovering by the same point.

The contrast highlights the risk that policy makers are underestimating the extent of the damage that the coronavirus will inflict on the economy in the long run.

The U.K. is already rebounding from the depth of the recession, as the government allows more businesses to

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