Wednesday, 28 Oct 2020

PRESS DIGEST- Wall Street Journal – June 26

June 26 (Reuters) – The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

– Texas paused reopening plans on Thursday, as new coronavirus cases and hospitalisations increased in many U.S. states, and a government estimate showed more than 20 million Americans may have contracted the virus, far exceeding diagnosed infections.

– The Donald Trump administration urged the Supreme Court to invalidate the Affordable Care Act in a legal brief filed on Thursday, putting health care at center stage in an election year already focused on the coronavirus pandemic’s impact.

– The number of workers seeking jobless benefits has held steady at about 1.5 million each week so far in June, signaling a slow recovery for the U.S. economy as states face new infections that could impede hiring and consumer spending.

– The Federal Reserve on Thursday said a prolonged economic downturn could saddle the United States’ biggest banks with up to $700 billion in losses on soured loans and ordered them to cap dividends and suspend share buybacks to conserve funds.

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