Economy

  • U.S. Crude Oil Crashes Below $0
    U.s._crude_crashes_below__0 2020-04-20 21:51:34 UTC
    NEW YORK (AP) — Oil futures plunged below zero on Monday, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic. Stocks and Treasury yields also dropped on Wall Street, with the S&P 500 down 1.8%, but the market’s most dramatic action by far w...

  • New COVID-19 Forecasts for Asia: Singapore Reports 942 New Cases
    New_covid-19_forecasts_for_asia-_singapore_reports_942_new_cases 2020-04-18 13:52:37 UTC
    BANGKOK (AP) — Singapore reported 942 new coronavirus cases on Saturday, a single-day high for the tiny city-state that pushed its total number of infections to 5,992, including 11 deaths. The number of cases in Singapore has more than doubled over the past week amid an explosion of infections...

  • Germany's Unemployment Rate Stays Low Despite COVID-19
    Germany's_unemployment_rate_stays_low_despite_covid-19 2020-04-16 21:19:06 UTC
    BERLIN — Governments around the world have been fighting two battles against COVID-19, one of public health and one in the economic area. Once measures were taken to protect public health with lockdowns and stringent social distancing regulations, other measures were immediately needed to mitigat...

  • UK Economy Will Suffer Devastating Consequences of COVID 19
    Uk_economy_will_suffer_devastating_consequences_of_covid_19 2020-04-14 19:37:59 UTC
    LONDON (Reuters) - Britain’s economy could shrink by 13% this year due to the government’s coronavirus shutdown, its deepest recession in three centuries, and public borrowing is set to surge to a post-World War Two high, the country’s budget forecasters said. In the April-June period alone, e...

  • Bank of England Allows UK Government To Run Up An Unlimited Overdraft
    Bank_of_england_allows_uk_government_to_run_up_an_unlimited_overdraft 2020-04-10 14:33:45 UTC
    LONDON (Reuters) - In London, the Bank of England said it would allow Britain’s government to run up an unlimited overdraft as the state promises to pay wages to millions of people laid off during shutdown, cut taxes for businesses and expand its welfare system. With central banks around the ...

  • Global Economy Heading Into Deepest Recession Since 1929
    Imf-_economy_has_entered_recession__worse_than_2008_downturn 2020-04-09 21:43:41 UTC
    WASHINGTON (AP) — The coronavirus pandemic will push the global economy into the deepest recession since the Great Depression, with the world’s poorest countries suffering the most, the head of the International Monetary Fund said Thursday. “We anticipate the worst economic fallout since the G...

  • Economist: “The U.S. Labor Market Is In Free-Fall”
    Economist-_%e2%80%9cthe_u.s._labor_market_is_in_free-fall%e2%80%9d_ 2020-04-02 05:32:09 UTC
    <p>WASHINGTON (Reuters) - The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.&nbsp...

  • A Guide to Surviving Financially as Bills Come Due
    A_guide_to_surviving_financially_as_bills_come_due 2020-04-01 22:06:24 UTC
    <p>The coronavirus has dealt a financial blow to millions of Americans and now April&rsquo;s bills are coming due.</p><p>The good news is there is help available. Reach out immediately to your mortgage lender, student loan servicer or utility provider to see what&rsquo;s available. Other assistan...

  • Markets Fall Sharply as Coronavirus Outbreak Worsens
    Markets_fall_sharply_as_coronavirus_outbreak_worsens 2020-04-01 21:41:27 UTC
    <p>NEW YORK (AP) &mdash; Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts &mdash; and as experts say they still can&rsquo;t predict when it will end.</p><p>The S&amp;P 500 lost 4.4% after the White House sa...

  • WHO IS ELIGIBLE FOR THE GOVERNMENT STIMULUS CHECK? HERE ARE THE ANSWERS:
    Who_is_eligible_for_the_government_stimulus_check__here_are_the_answers 2020-04-01 22:00:10 UTC
    The IRS and the Treasury Department say Americans will start receiving their economic impact checks in the next three weeks. The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus...

  • Brexit: EU, UK Negotiate Future Relationship
    Brexit-_eu__uk_negotiate_future_relationship 2020-03-30 19:12:36 UTC
    LONDON (Reuters) - British and EU officials are holding informal talks on the future relationship, a spokesman for Prime Minister Boris Johnson said on Monday, repeating that Britain is still working towards the end of this year to end a transition period “The transition period ends on the 31...

  • IMF: Global Economy Has Entered Recession, Worse Than 2008 Downturn
    Imf-_economy_has_entered_recession__worse_than_2008_downturn 2020-03-27 23:26:50 UTC
    WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recove...

  • 3.3 Million Americans Filed for Unemployment Aid in A Single Week
    3.3_million_americans_filed_for_unemployment_aid_in_a_single_week 2020-03-27 00:45:33 UTC
    WASHINGTON (AP) — Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus. The surge in weekly applications was a stunning reflection of the damage the viral out...

  • U.S. Auto Sales Plummet 80 Percent
    U.s._auto_sales_plummet_80_percent 2020-03-26 04:24:17 UTC
    (Reuters) - Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of the coronavirus will drop 80% or more, analysts said on Wednesday. Auto retail sales through the week of March 22 declined 22% nationwide on a yearly basis and as much as 40% in some cities on the ...

  • US Announces $2 Trillion Coronavirus Rescue Bill
    Us_announces__2_trillion_coronavirus_rescue_bill 2020-03-25 06:49:55 UTC
    WASHINGTON (AP) — The White House and Senate leaders of both parties announced agreement early Wednesday on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The urgently needed pandemic response measure i...

  • Asian Markets Opened Sharply Higher
    Asian_markets_opened_sharply_higher 2020-03-25 03:14:56 UTC
    NEW YORK (AP) — Shares opened sharply higher in Asia on Wednesday after the Dow Jones Industrial Average surged to its best day since 1933 with Congress and the White House nearing a deal on injecting nearly $2 trillion of aid into an economy ravaged by the coronavirus. Japan’s Nikkei 225 inde...

  • Dow Ends Week With a 17.3% Loss
    Dow_ends_week_with_a_17.3__loss_ 2020-03-21 00:53:35 UTC
    <p>Wall Street ended the week the same way it began: in full retreat from the coronavirus.</p><p>Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation&rsquo;s economy in the hope of limiting the spread of th...

  • Dow Erases All Its Gains Since Trump’s Inauguration
    Dow_erases_all_its_gains_since_trump%e2%80%99s_inauguration 2020-03-18 23:34:43 UTC
    NEW YORK (AP) — Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to ra...

  • U.S. Seeks $850B Economic Stimulus Amid Coronavirus Crisis
    U.s._seeks__850b_economic_stimulus_amid_coronavirus_crisis 2020-03-17 15:37:45 UTC
    <p>WASHINGTON (AP) &mdash; The White House was asking Congress on Tuesday to approve a sweeping emergency stimulus package to help businesses and taxpayers cope with the economic fallout of the coronavirus pandemic. It&rsquo;s the most far-reaching economic rescue package since the Great Recessio...

  • Global Stocks Fall Sharply as Virus Cases Spread Around the World
    Global_stocks_fall_sharply_as_virus_cases_spread_around_the_world 2020-03-16 20:33:23 UTC
    NEW YORK (AP) — Stocks fell sharply around the world Monday as the coronavirus forced huge swaths of the economy to the edge of a standstill, from parked airplanes to the nearly empty restaurant around the corner. The Dow industrials took a 2,999-point nosedive on Monday as fears deepen that ...

  • Global Shares Plunge: Worst Day Since '87
    Global_shares_plunge-_worst_day_since_'87 2020-03-13 02:06:33 UTC
    <p>NEW YORK (AP) &mdash; Shares have plunged in Asia, with Japan&rsquo;s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987.&nbsp;</p><p>Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the mel...

  • Bear Market: Dow dives more than 1,400 points
    Bear_market-_dow_dives_more_than_1_400_points 2020-03-11 20:19:29 UTC
    <p>NEW YORK (AP) &mdash; Stocks are closing sharply lower on Wall Street, erasing more than 1,400 points from the Dow industrials, as investors wait for a more aggressive response from the U.S. government to economic fallout from the coronavirus. The Dow has now fallen 20% from its recent high, a...

  • World Health Organization Declares Coronavirus Crisis Is Now a Pandemic
    World_health_organization_declares_coronavirus_crisis_is_now_a_pandemic 2020-03-11 16:52:06 UTC
    <p>ROME (AP) &mdash; Expressing increasing alarm about mounting infections, the World Health Organization declared Wednesday that the global coronavirus crisis is now a pandemic.</p><p>Tedros Adhanom Ghebreyesus, who heads the U.N. agency, said the WHO is &ldquo;deeply concerned by the alarming l...

  • Stocks Rise in Turbulent Trading a Day After Selloff
    Stock 2020-03-10 19:47:33 UTC
    NEW YORK (AP) — Wall Street endured another day of dizzying trading Tuesday, whipping up and down with hopes that the U.S. and other governments will cushion the economy from the pain of the coronavirus. The S&P 500 surged as much as 3.7% in the morning and recouped nearly half its historic dr...

  • You Don't Need a 20% Down Payment to Buy a Home in US
    You_don't_need_a_20__down_payment_to_buy_a_home_in_us 2020-03-10 19:48:35 UTC
    Many Americans may be unnecessarily talking themselves out of homeownership. Thirty-seven percent of non-homeowners say not having enough saved for a down payment is holding them back from homeownership, but 62% of Americans incorrectly believe you have to have at least 20% of a home’s purchase p...