Latest Economy News

FILE - In this Thursday, May 14, 2020, file photo, Florida Gov. Ron DeSantis speaks at a news conference in Doral, Fla. A federal appellate court has stayed a lower court ruling that gave impoverished Florida felons the right to vote. The order issued Wednesday, July 1, 2020, disappointed voting rights activists and could have national implications in November's presidential election. In May, a federal judge ruled that Florida law can’t stop disenfranchised felons from voting because they can’t pay back any legal fees and restitution they owe. DeSantis immediately appealed to the Atlanta-based 11th U.S. Circuit Court of Appeals, requesting a stay of the ruling and a review of the case by the full appeals court. (AP Photo/Lynne Sladky, File)

The Latest: Florida reports 10,000 daily coronavirus cases

Jul. 2, 2020 12:36 PM EDT

FORT LAUDERDALE, Fla. — Florida has reported 10,000 new confirmed coronavirus cases for the first time. That daily number on Thursday is six times higher than the daily record less than a month ago. The state also reported 67 deaths for the second time in a week. The seven-day average for daily deaths is...

FILE - In this Saturday, May 16, 2020, file photo, Glen Buhlmann, lower left, fills out a job application during a walk- and drive-up job fair in Seattle for clothing maker Outdoor Research's new line of face masks and other personal protection equipment the company has started manufacturing due to the coronavirus pandemic. U.S. employers likely rehired several million more workers in June, thereby reducing a Depression-level unemployment rate, but the most up-to-date data suggests that a resurgent coronavirus will limit further gains. (AP Photo/Ted S. Warren, File)

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

Jul. 2, 2020 12:17 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...

A shopper stands outside of a Pier 1 Imports store as going out of business signs are posted amid the coronavirus pandemic Wednesday, July 1, 2020, in Santa Clarita, Calif. (AP Photo/Marcio Jose Sanchez)

California reverses course from reopening amid virus surge

Jul. 2, 2020 12:12 PM EDT

SACRAMENTO, Calif. (AP) — It was a simple family get-together; a wedding gathering. About 30 people went out to dinner. Half came down with the coronavirus. Los Angeles Mayor Eric Garcetti told that anecdote Wednesday as California reversed its economic reopening for much of the state in the wake of a...

FILE - In this Tuesday, March 10, 2020, file photo, specialists James Denaro, left, and Mario Picone work on the floor of the New York Stock Exchange. Global stock markets and Wall Street futures rose Thursday, July 2, 2020, on hopes for the development of a coronavirus vaccine and ahead of the release of monthly U.S. jobs data. (AP Photo/Richard Drew, File)

Stocks rise on jobs data, S&P 500 nears week-long sweep

Jul. 2, 2020 12:09 PM EDT

NEW YORK (AP) — Wall Street is rising Thursday after a report showed the U.S. job market continues to climb from the crater created by the coronavirus pandemic in the spring. The S&P 500 was 0.9% higher in midday trading and on pace for its fourth-straight gain. Stocks also rose across Europe and...

European Union's Brexit negotiator Michel Barnier and British Brexit negotiator David Frost attend a meeting with their delegations on further Brexit negotiations at EU headquarters in Brussels, Monday, June 29, 2020. European Union and U.K. negotiators resumed in-person talks on a post-Brexit trade deal on Monday, with both sides insisting that the process must accelerate markedly if they're to reach an agreement by the end of the year. (John Thys, Pool Photo via AP)

Post-Brexit talks deadlocked after latest negotiating round

Jul. 2, 2020 12:01 PM EDT

BRUSSELS (AP) — EU and U.K. negotiators in charge of finding a post-Brexit compromise resumed in-person talks this week, but the result remained the same, with no progress achieved on a range of key issues preventing a new trade agreement to be sealed. Discussions ended Thursday a day earlier than...

Jeorganna Barnes, a worker at Harrah's casino in Atlantic City, N.J., wipes slot machines with disinfectant Wednesday, July 1, 2020, as the casino prepared to reopen after 3 1/2 months of being shut down due to the coronavirus. Five of Atlantic City's casinos will reopen on Thursday, while three others, including Harrah's, will open Friday. (AP Photo/Wayne Parry)

Alaska Airlines secures loans; casinos in NJ reopening

Jul. 2, 2020 11:28 AM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus. ________________________ FINANCIAL AID: Alaska Airlines has secured nearly $1.2 billion in...

FILE - This May 22, 2020 file photo shows a sold sign in front of a house in Brighton, N.Y. Long-term U.S. mortgage rates fell this week with the benchmark 30-year home loan hitting its lowest level ever. Mortgage buyer Freddie Mac reported Thursday, July 2 that the average rate on the key 30-year fixed-rate mortgage fell to 3.07%, down from last week’s 3.13%. (AP Photo/Ted Shaffrey, File)

US long-term mortgage rates hit all-time low again

Jul. 2, 2020 11:00 AM EDT

SILVER SPRING, Md. (AP) — Long-term U.S. mortgage rates fell this week with the benchmark 30-year home loan hitting its lowest level ever. Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year fixed-rate mortgage fell to 3.07%, down from last week's 3.13%. For the second...

Ukraine's central banker chief steps down citing pressure

Jul. 2, 2020 10:56 AM EDT

KYIV, Ukraine (AP) — Ukraine's president on Thursday accepted the resignation of the country's top banker, who has complained of political pressure. National Bank head Yakiv Smolii cited “systematic political pressure” as the reason for his decision to step down, but didn't provide any...

FILE - In this May 11, 2020 file photo, a container ship is docked at Maher Terminals in Elizabeth, N.J. The U.S. trade deficit rose for the third straight month in May. Both exports and imports fell as the coronavirus outbreak continued to take a toll on world commerce. The Commerce Department said Thursday, July 2 that the gap between the United States buys and what it sells abroad rose 9.7% in May to $54.6 billion, highest since December 2018. (AP Photo/Mark Lennihan, File)

US trade deficit rises 9.7% in May to $54.6 billion

Jul. 2, 2020 9:28 AM EDT

WASHINGTON (AP) — The U.S. trade deficit rose for the third straight month in May. Both exports and imports fell as the coronavirus outbreak continued to take a toll on world commerce. The Commerce Department said Thursday that the gap between the goods and services the United States buys and what it sells...

U.S. trade deficit rises 9.7% to $54.6 billion in May; exports and imports fall

Jul. 2, 2020 8:33 AM EDT
WASHINGTON (AP) — U.S. trade deficit rises 9.7% to $54.6 billion in May; exports and imports fall.