The Stories on Our Radar – August 28, 2020
Headlines influencing today’s markets
- U.S. consumer spending for July tread in positive territory, but was significantly lower than in June and May, indicating a slowdown.
- Japan’s Prime Minister, Shinzo Abe, will be resigning, attributing it to health reasons.
- This year’s U.S. presidential election is proving to be the most contentious in a long time. Volatility is rising, and investors have been hedging as early as January. Watch out—it will get ugly.
- Coca-Cola will be shedding thousands of jobs—earlier this week, American Airlines and Pret A Manger also announced cutting thousands of jobs as well.
- The Justice Department has made at least 41 criminal complaints against 60 individuals, who all together collected $62 million from $525 billion Paycheck Protection Program, for submitting fraudulent documentation—more fraud may be lurking under the surface.
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