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...
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 ...
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. ...
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’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’s available. Other assistan...
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...
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...
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 recove...
Coronavirus: Half-Million Infected Worldwide
2020-03-26 16:49:08 UTC
The number of coronavirus infections closed in on a half-million worldwide Thursday, with both Italy and the U.S. on track to surpass China, and a record-shattering 3.3 million Americans applied for unemployment benefits in a single week in a stark demonstration of the damage to the world’s bigge...
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
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...
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...
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...
Coronavirus Cases Top 220,000 Worldwide - 9,000 Dies
2020-03-18 23:20:08 UTC
BERLIN (AP) — Desperate travelers choked European border crossings on Wednesday after nations implemented strict controls in an attempt to slow the spread of the COVID-19 virus, creating traffic jams miles long and slowing the passage of trucks carrying critical supplies.
The number of people...
U.S. Seeks $850B Economic Stimulus Amid Coronavirus Crisis
2020-03-17 15:37:45 UTC
<p>WASHINGTON (AP) — 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’s the most far-reaching economic rescue package since the Great Recessio...
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
2020-03-13 02:06:33 UTC
<p>NEW YORK (AP) — Shares have plunged in Asia, with Japan’s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. </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
2020-03-11 20:19:29 UTC
<p>NEW YORK (AP) — 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...
Twitter Strikes Deal with Silver Lake, Elliott to keep Jack Dorsey as CEO
2020-03-10 20:02:41 UTC
San Francisco — Twitter says it’s reached an investment deal with Silver Lake and Elliott Management that will keep Jack Dorsey as the social media company’s CEO.
Twitter Inc. said Monday that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is...
Stocks Rise in Turbulent Trading a Day After Selloff
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
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...
Black Monday: Shock To Oil Also Rattled Stock Markets
2020-03-09 14:09:42 UTC
NEW YORK (AP) — Fear gripped financial markets around the world Monday as stock prices and bond yields plunge on worries about the effects of a new coronavirus.
The most violent drops came from the oil markets, where prices cratered more than 20%. But moves in stocks and bond yields were near...
Nothing Can Pull Markets Out From Undertow
2020-03-06 20:41:47 UTC
<p>NEW YORK (AP) — 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. </p><p>Even a better-than-expected <a href="https://apnews.com/1d187742ff0d4a44bf235fd00c665fb7">report on U.S. jobs</...