Latest Financial crisis News
US cities fear protests may fuel new wave of virus outbreaks
LOS ANGELES (AP) — The massive protests sweeping across U.S. cities following the police killing of a black man in Minnesota have sent shudders through the health community and elevated fears that the huge crowds will lead to a new surge in cases of the coronavirus. Some leaders appealing for calm in...
Schools nationwide brace for cuts from new financial crisis
ATLANTA (AP) — It was during the Great Recession when Catoosa County first shortened its school year, from 180 to 175 instructional days, as it began years of furloughs due to budget cuts. As a result of the coronavirus pandemic, the next school year will be shorter still, with only 170 classroom days. ...
US consumer spending sinks by record 13.6% in face of virus
WASHINGTON (AP) — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month's spending decline was far worse than the revised 6.9% drop in March, which itself had set a...
The Latest: UN urges $2.4 billion in aid for war-torn Yemen
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — UN urgently appeals for $2.4 billion to help Yemen cope...
Asia shares fall as US-China tensions douse rally on Wall St
BANGKOK (AP) — Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. Benchmarks declined in Hong Kong, Tokyo and Sydney but rose in Shanghai. Investors are nervously awaiting a news conference about China by President Donald Trump later in...
Lebanon removes banking secrecy rules to fight corruption
BEIRUT (AP) — Lebanon’s parliament approved on Thursday a law to remove decades-old banking secrecy rules in order to better fight rampant corruption that has pushed the country to the edge of economic collapse. The move opens the way for investigations into bank accounts of current and former...
US economy shrank at 5% annual rate in Q1
WASHINGTON (AP) — The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter. The Commerce Department reported Thursday that the gross domestic product, the...
EU pledges to stay green in recovery from coronavirus
BRUSSELS (AP) — The European Commission pledged Thursday to stay away from fossil-fueled projects in its coronavirus recovery strategy, and to stick to its target of making Europe the first climate neutral continent by the mid-century, but environmental groups said they were unimpressed. To weather the...
Asian shares mixed after Wall Street rally; Hong Kong lower
BANGKOK (AP) — Asian stocks were mixed after an upbeat open on Thursday, as investors pinned their hopes on an economic rebound from the coronavirus crisis. Shares rose in Tokyo, Sydney and Shanghai but dropped in Hong Kong, where tensions are flaring over Beijing’s effort to exert more control...
New York City now alone in state in keeping economy closed
NEW YORK (AP) — Long Island became the latest region of New York to begin easing some restrictions put in place to curb the spread of the coronavirus. Gov. Andrew Cuomo lobbied the president for help with transportation projects. New York City Mayor Bill de Blasio said efforts to fight the virus have left...
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