Latest Economic policy News

President Donald Trump speaks during a news briefing at the White House, Thursday, July 2, 2020, in Washington, as White House chief economic adviser Larry Kudlow, left, and Treasury Secretary Steven Mnuchin, look on. (AP Photo/Evan Vucci)

Trump signs extension of COVID-relief fund for businesses

Jul. 4, 2020 10:26 AM EDT

WASHINGTON (AP) — President Donald Trump on Saturday signed into law a temporary extension of a subsidy program for small businesses battered by the coronavirus, The legislation extends the June 30 deadline for applying for the program to Aug. 8. Lawmakers created the program in March and have modified it...

FILE - In this Friday, April 17, 2020 file photo, a health worker arrives to take a nose swab sample as part of testing for the COVID-19 coronavirus at a nursing and rehabilitation facility in Seattle. Nursing home residents are among the Americans getting $1,200 checks as part of the U.S. government’s plan to revive the economy in 2020. But with many long-term care facilities under lockdown to prevent COVID-19 outbreaks, what are the rules around how the money is handled? (AP Photo/Ted S. Warren)

Stimulus money could pose dilemmas in nursing homes

Jul. 4, 2020 9:31 AM EDT

NEW YORK (AP) — Nursing home residents are among the Americans getting $1,200 checks as part of the U.S. government’s plan to revive the economy. But with many long-term care facilities under lockdown to prevent COVID-19 outbreaks, what are the rules around how the money is handled? The situation...

Air France workers gather during a protest in front of the company headquarters in Tremblay-en-France, outside Paris Friday, July 3, 2020. Air France is meeting with personnel representatives Friday to discuss thousands of job cuts after the virus pandemic grounded most flights and darkened prospects for future air travel. (AP Photo/Christophe Ena)

Virus-hammered Air France announces 7,500 job cuts

Jul. 3, 2020 5:40 PM EDT

PARIS (AP) — Air France and regional subsidiary Hop announced 7,500 job cuts Friday after the virus pandemic grounded most flights and darkened prospects for future air travel. Activists from multiple unions protested at Air France headquarters at Paris’ Charles de Gaulle Airport as talks began...

Outgoing French Prime Minister Edouard Philippe, left, applauds newly named Prime Minister Jean Castex, after the handover ceremony in Paris, Friday, July 3, 2020. French President Emmanuel Macron on Friday named Jean Castex, who coordinated France's virus reopening strategy, as the country's new prime minister as the country focuses on reviving an economy hard-hit by the pandemic and months of strict lockdown. (Thomas Samson, Pool via AP)

Reopening strategist Castex named new French prime minister

Jul. 3, 2020 1:26 PM EDT

PARIS (AP) — The new French prime minister appointed Friday said he feels ready to face the key challenge of reviving France's economy following the damage caused by the coronavirus pandemic and a two-month nationwide lockdown. The relatively low-profile Jean Castex, who coordinated France’s virus...

Ukraine's parliament accepts chief banker's resignation

Jul. 3, 2020 1:10 PM EDT

KYIV, Ukraine (AP) — Ukraine’s parliament on Friday accepted the resignation of the country’s top banker, who has stepped down citing political pressure. National Bank head Yakiv Smolii submitted his letter of resignation Wednesday, pointing at “systematic political pressure” as...

Democratic presidential candidate, former Vice President Joe Biden speaks at Alexis Dupont High School in Wilmington, Del., Tuesday, June 30, 2020. (AP Photo/Patrick Semansky)

US jobs surge: Trump sees sunshine, Biden 'no victory yet'

Jul. 3, 2020 6:05 AM EDT

NEW YORK (AP) — The U.S. economy just posted its best single-month job gain in history. U.S. unemployment is at one of its worst points since the Great Depression. Both are true. As Republicans and Democrats fought to spin Thursday's jobs numbers to their advantage, both sides face tremendous political...

In this June 29, 2020, photo provided by U.S. Customs and Border Protection, a field operations officer inspects a suspect hair accessory at a centralized exam station in Newark, N.J. On Wednesday, July 1, 2020, U.S. Customs and Border Protection detained a shipment of weaves believed to be made in a Chinese detention camp. The shipment is suspected to be human hair. Some information on the package was blurred by the source. (U.S. Customs and Border Protection via AP)

AP Exclusive: Hair weaves from Chinese prison camps seized

Jul. 3, 2020 12:34 AM EDT

Federal authorities in New York on Wednesday seized a shipment of weaves and other beauty accessories suspected to be made out of human hair taken from people locked inside a Chinese internment camp. U.S. Customs and Border Protection officials told The Associated Press that 13 tons (11.8 metric tonnes) of hair...

President Donald Trump swings a baseball bat during the Spirit of America Showcase at the White House, Thursday, July 2, 2020, in Washington. (AP Photo/Evan Vucci)

US jobs surge: Trump sees sunshine, Biden 'no victory yet'

Jul. 2, 2020 11:45 PM EDT

NEW YORK (AP) — The U.S. economy just posted its best single-month job gain in history. U.S. unemployment is at one of its worst points since the Great Depression. Both are true. As Republicans and Democrats fought to spin Thursday's jobs numbers to their advantage, both sides face tremendous political...

Vehicles wait in line to fill up with fuel at a gas station in Caracas, Venezuela, Tuesday, June 2, 2020. Starting June, Venezuelans pay international market fuel prices, with limited access to subsidized gasoline each month, marking a historic break in the country's practice of having the world's cheapest fuel. (AP Photo/Matias Delacroix)

US tries to seize Iranian gas heading toward Venezuela

Jul. 2, 2020 8:26 PM EDT

MIAMI (AP) — U.S. federal prosecutors are seeking to seize four tankers sailing toward Venezuela with gasoline supplied by Iran, the latest attempt to disrupt ever-closer trade ties between the two heavily sanctioned anti-American allies. The civil-forfeiture complaint filed late Wednesday in the District...

Wearing masks amid concerns of the spread of COVID-19, volunteers Karen Cooperstein, right, and Edwin Chinchilla, left, prepare food for the pubic during a drive through food pantry distribution by Catholic Charities in Dallas, Thursday, July 2, 2020. (AP Photo/LM Otero)

US unemployment falls to 11%, but new shutdowns are underway

Jul. 2, 2020 4:28 PM EDT

WASHINGTON (AP) — U.S. unemployment fell to 11.1% in June as the economy added a solid 4.8 million jobs, the government reported Thursday. But the job-market recovery may already be faltering because of a new round of closings and layoffs triggered by a resurgence of the coronavirus. While the jobless rate...