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US economy shrank at record-breaking 33% rate last quarter

The US economy shrank at a dizzying 33% annual rate in the April-June quarter - by far the worst quarterly plunge ever - when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday. The Commerce...

Lebanon virus cases peak ahead of new lockdown

Lebanon on Wednesday reported 182 new coronavirus cases, its highest single-day infection tally since the country's outbreak began in February, ahead of fresh lockdown measures that go into effect at midnight. The new cases bring the total number of COVID-19 infections in Lebanon to 4,202,...

Oil prices jump on U.S. inventory drop

Oil prices rose on Wednesday after a surprise drop in U.S. crude inventories, but demand concerns amid record increases in COVID-19 infections in some U.S. states capped gains. Brent crude futures LCOc1 rose 54 cents, or 1.3%, to $43.76 a barrel by 0923 GMT. U.S. West Texas Intermediate...

Six US states see record COVID-19 deaths

A half-dozen US states in the South and West reported one-day records for coronavirus deaths Tuesday and cases in Texas passed the 400,000 mark as California health officials said Latinos made up more than half its cases. Arkansas, California, Florida, Montana, Oregon and Texas each...