• 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 opposed 100% state backing for commercial l...
  • 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 world trying to cocoon their their shutt...
  • 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 after EU powerhouse Germany, as well as F...
  • Trump's Economic Nationalism Will Not Save The US Economy From Collapse
    2020-04-09 17:07:02 UTC

    BALTIMORE (AP) — President Donald Trump has been telling voters that the U.S. economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus. But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will fail to match the speed and severity of ...
  • 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 executive branch. In the past four days, ...
  • 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 assistance, such as stimulus checks or unemploym...
  • 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 said anywhere from 100,000 to 240,000 Amer...
    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 outbreak. Most people don&rsquo;t ne...
  • IMF: Global 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 recovery in 2021, saying it could be a “sizabl...
  • 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 outbreak is inflicting on the economy. Fili...
  • 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 meltdown in the U.S., the world&rsquo;s big...
  • 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 price to buy, according to NerdWallet’s 2...
  • Nothing Can Pull Markets Out From Undertow
    2020-03-06 20:41:47 UTC

    <p>NEW YORK (AP) &mdash; Stocks kept falling Friday, and bond yields took more breathtaking drops as a brutal, dizzying couple weeks of trading showed no sign of letting up.&nbsp;</p><p>Even a better-than-expected <a href="">report on U.S. jobs</a> wasn&rsquo;t enough to pull markets f...
  • EU Parliament Gives Final Approval to Brexit Deal
    2020-01-29 18:07:08 UTC

    BRUSSELS (Reuters) - The European Parliament on Wednesday gave its final approval to Britain’s divorce deal from the bloc, paving the way for Brexit to take place on Friday. The chamber broke into singing Auld Lang Syne, a traditional Scottish song to bid farewell, after voting 621 for versus 49 against the Brexit deal, with 13 abst...
  • France, Germany to Sign Arms Exports Pact
    2019-09-20 01:36:58 UTC

    PARIS (Reuters) - France and Germany said on Thursday they were close to an agreement on how to remove obstacles to exporting weapons manufactured in joint programs, after French firms called for easing German export restrictions. German curbs on arms exports to non-European Union or non-NATO countries have been a thorn in bilateral...
  • US, UK Seek Quick Post-Brexit Trade Deal
    2019-08-13 18:20:56 UTC

    LONDON (Reuters) - Britain and the United States are discussing a partial trade accord that could take effect on Nov. 1, the day after Britain is due to leave the European Union, a senior Trump administration official said on Tuesday. The official also said visiting U.S. national security adviser John Bolton and British trade minist...
  • US will "Enthusiastically Support a No-Deal Brexit"
    2019-08-12 19:04:58 UTC

    LONDON (Reuters) - The United States would enthusiastically support a no-deal Brexit if that is what the British government decided to do, U.S. national security adviser John Bolton said on Monday during a visit to London aimed at reassuring Britain over UK-U.S. ties. Bolton told British Prime Minister Boris Johnson that President D...
  • No-Deal Brexit Would Cause Severe Damage to UK
    2019-07-29 03:42:16 UTC

    A no-deal Brexit would cause “severe” damage to UK businesses, according to the Confederation of British Industry (CBI). Carolyn Fairbairn, director general of the lobby group, told BBC that quitting the EU without an agreement should be an option “that is not even considered”. Claims that firms are ready for a no-deal scenario are ...
  • Euro Hits Three-Month High Against US Dollar
    2019-06-24 04:00:44 UTC

    TOKYO (Reuters) - The euro rose to a three-month high against the dollar on Monday, as bearish bets on the U.S. currency remained solid on prospects of a near-term interest rate cut by the Federal Reserve. The euro stretched its rally last week, up 1.4%, and advanced about 0.15% to $1.1386 in early Asian trade, its highest since Mar...
  • US Weekly Jobless Claims Rise; Imported Inflation Weak
    2019-06-13 18:19:18 UTC

    WASHINGTON (Reuters) - The number of Americans filing applications for unemployment benefits unexpectedly rose last week, which could add to concerns that the labor market was losing steam after job growth slowed sharply in May. Other data on Thursday showed import prices fell by the most in five months in May amid a broad decline i...
  • UK’s Johnson Threatens to Withhold $50 Billion Brexit Payment
    2019-06-09 01:46:56 UTC

    (Reuters) - Boris Johnson, the leading candidate to succeed Theresa May as Britain’s next prime minister, said he would withhold a previously agreed 39 billion pound ($50 billion) Brexit payment until the European Union gives Britain better exit terms. The EU has repeatedly said it will not reopen discussion of the Brexit transition...
  • EU to Create a System to Get Around US Block on WTO
    2019-06-06 20:49:33 UTC

    BERLIN/GENEVA (Reuters) - The European Union is set to propose creating a shadow system to get around a U.S. block on appeals in disputes at the World Trade Organization (WTO), according to a draft proposal circulated to national lawmakers. U.S. President Donald Trump is blocking appointments to the WTO’s Appellate Body, saying its ...
  • Still Unclear How, When or If UK Will Ever Indeed Quit EU
    2019-04-02 20:57:13 UTC

    LONDON (Reuters) - Prime Minister Theresa May said on Tuesday she would seek another Brexit delay to agree an EU divorce deal with the opposition Labour leader, a last-ditch gambit to break an impasse over Britain’s departure that enraged many in her party. Nearly three years since the United Kingdom voted to leave the European Unio...
  • Brexit: EU Prepares For a 'No-Deal' Scenario
    2019-03-29 20:39:59 UTC

    Theresa May's exit deal failed by 58 votes, and April 12 beckons as a new exit date for the UK out of the EU. More indicative votes are on the table, as the EU prepares for a 'no-deal' scenario. LONDON (Reuters) - Lawmakers rejected Prime Minister Theresa May’s Brexit deal for a third time on Friday, sounding its probable death knel...
  • U.S. Judge Approves Bankruptcy Loan for PG&E
    2019-03-27 18:31:51 UTC

    SAN FRANCISCO (Reuters) - Bankrupt California power provider PG&E Corp won court approval on Wednesday for a $5.5 billion loan to help maintain electricity and natural gas delivery and for investments to reduce the risk of wildfires as it reorganizes. San Francisco-based PG&E filed for Chapter 11 bankruptcy protection in January in ...