EU: Germany's Financial Aid Can Be Locomotive for Europe
2020-05-04 19:30:26 UTC
BRUSSELS (Reuters) — Germany’s extensive bailouts of coronavirus-hit companies can work as a locomotive for Europe, the EU’s competition chief said on Monday amid criticism from other, less wealthy EU countries about what they see as an unfair edge given to German firms.
To date, a whopping 52...
UK's Small Business Loans Begin Today
2020-05-03 23:56:19 UTC
LONDON (Reuters) - A government-backed loan scheme to help Britain’s small businesses survive the coronavirus lockdown comes into effect on Monday, allowing firms such as hairdressing salons, coffee shops and florists to receive emergency cash.
Finance minister Rishi Sunak, who previously opp...
Impasse: No Progress in Brexit Talks
2020-04-28 13:22:21 UTC
BRUSSELS (Reuters) - Negotiations between the European Union (EU) and ex-member Britain over new trade arrangements from next year are at an impasse due to disagreements and the coronavirus crisis, according to diplomats and officials in the bloc’s hub Brussels.
Halted when the epidemic starte...
European Carmakers Reopening Plants as COVID-19 Lockdown Eases
2020-04-27 18:58:17 UTC
FRANKFURT (Reuters) - German carmaking giant Volkswagen resumed production at its biggest factory on Monday as part of a broader industry drive to get back to work in Europe, where the coronavirus pandemic has hammered demand and pushed up inventory levels.
Encouraged by a fall in infection ra...
Only 23% of Americans Trust Trump's Coronavirus Briefing
2020-04-23 22:58:15 UTC
WASHINGTON (AP) — President Donald Trump has made himself the daily spokesman for the nation’s coronavirus response. Yet few Americans regularly look to or trust Trump as a source of information on the pandemic, according to a new survey from The Associated Press-NORC Center for Public Affairs Re...
U.S. Crude Oil 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...
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...
Trump's WHO Decision "Selfish, Short-Sighted and Wrong"
2020-04-16 21:23:54 UTC
GENEVA (AP) — Nations and health experts worldwide reacted with alarm Wednesday after President Donald Trump announced a halt to the sizable funding the United States sends to the World Health Organization. They warned that the move could jeopardize global efforts to stop the coronavirus pandemic...
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...
UK Is Significantly UnderReporting Covid-19 Deaths
2020-04-14 18:32:21 UTC
LONDON (Reuters) - The United Kingdom’s true death toll from the novel coronavirus far exceeds estimates previously published by the government, according to broader official data that include deaths in the community such as in nursing homes.
Even before the new figures, the official British d...
EU Countries Agree to $550 Billion in Economic Support
2020-04-10 14:32:55 UTC
BRUSSELS (Reuters) - European Union finance ministers agreed on Thursday on half-a-trillion euros ($550-Billion) worth of support for their coronavirus-battered economies but left open the question of how to finance recovery in the bloc headed for a steep recession.
The agreement was reached a...
Global Economy Heading Into Deepest Recession Since 1929
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...
California Buys 200 Million N95 Masks on a Monthly Basis
2020-04-08 17:43:48 UTC
Can California emerge from coronavirus pandemic stronger? Heroic Leaders and big hearted people offer hope.
Dr. Robert Wachter, professor and chair of the Department of Medicine at University of California, San Francisco, said "The most important was that leaders of all types - whether they we...
Trump Removes $2 Trillion Coronavirus Spending Watchdog
2020-04-07 22:59:07 UTC
WASHINGTON (AP) — President Donald Trump has removed the inspector general tapped to chair a special oversight board for the $2.2 trillion economic relief package on the coronavirus, the latest in a series of steps Trump has taken to confront government watchdogs tasked with oversight of the exec...
Economist: “The U.S. Labor Market Is In Free-Fall”
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. ...
Markets Fall Sharply as Coronavirus Outbreak Worsens
2020-04-01 21:41:27 UTC
<p>NEW YORK (AP) — Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts — and as experts say they still can’t predict when it will end.</p><p>The S&P 500 lost 4.4% after the White House sa...
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...
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
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
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...
U.S. Coronavirus Cases Skyrocket to 35,000
2020-03-23 06:56:01 UTC
Global-Gathering — The total number of known U.S. cases has climbed past 35,000 in a surge that health officials attributed in large part to an increase in diagnostic testing. More than 460 Americans have died.
More than 340,408 people have been infected across the world and 14,573 have died, ...
The Latest Developments in Coronavirus Outbreak
2020-03-22 18:54:16 UTC
(Reuters) - As coronavirus cases ballooned in Europe, several countries imposed or planned new restrictions to try to curb the spread. Britain told panic-buyers to calm down. California and three other U.S. states directed tens of millions of people to stay at home.
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’s economy in the hope of limiting the spread of th...
Italy Passes China in Coronavirus Deaths
2020-03-19 18:39:28 UTC
ROME (AP) — The death toll in Italy from the coronavirus overtook China’s on Thursday, and infections in the United States climbed past 10,000, in a stark illustration of how the crisis has pivoted toward the West.
Italy, with a population of 60 million, recorded at least 3,405 deaths, or roug...
Dow Erases All Its Gains Since Trump’s 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...