Latest Economy News

In this April 3, 2020 photo, a woman carrying a child walks past a closed courier business featuring a U.S. flag and the Spanish phrase:

Virus crisis cuts off billions sent to poor around the world

Apr. 7, 2020 12:47 PM EDT

MIAMI (AP) — Until a month ago, Diana Leticia Hernández sold face cream door to door in Miami. Her husband painted houses. The money fed their family and at least six relatives in Honduras. Hernández has sold nothing since last month due to fear and social-distancing restrictions in South...

Women wearing face masks to protect from coronavirus walk past a billboard with a work by artist Mark Titchner in east London, Tuesday, April 7, 2020. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo/Matt Dunham)

What you need to know today about the virus outbreak

Apr. 7, 2020 12:42 PM EDT

With its biggest one-day jump yet, New York City’s death toll from the coronavirus officially eclipsed the number of those killed at the World Trade Center on 9/11. At least 3,202 people have died in New York from COVID-19, according to the count released Tuesday by the city. Across the U.S., the death...

Traffic is sparse as it winds around the statue of Confederate General Robert E. Lee on Monument Ave near downtown Tuesday April 7, 2020, in Richmond, Va. Virginia Gov. Ralph Northam has instituted a stay at home order until June 10th for the entire state. (AP Photo/Steve Helber)

Northam to postpone action on teacher raises, tuition freeze

Apr. 7, 2020 12:39 PM EDT

RICHMOND, Va. (AP) — Virginia Gov. Ralph Northam plans to delay some long-sought Democratic priorities until more is known about how the pandemic will affect the economy, pushing back decisions on whether to give teachers and state workers raises, freeze in-state college tuition, and implement other new...

A woman wearing a sanitary mask to protect against coronavirus picks tulip flowers to be home delivered, in the

The Latest: Italy’s new coronavirus cases continue to drop

Apr. 7, 2020 12:38 PM EDT

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: — New York City records more deaths from virus than 9/11....

Customers wear face masks as they line up to enter a supermarket keeping social distancing following the government's measures to help stop the spread of the coronavirus, in Tel Aviv, Israel, Tuesday, April 7, 2020. Israeli Prime Minister Benjamin Netanyahu announced Monday a complete lockdown over the upcoming Passover holiday to control the country's coronavirus outbreak, but offered citizens some hope by saying he expects to lift widespread restrictions after the week-long festival. (AP Photo/Oded Balilty)

Consumers get some breaks, but layoffs keep coming

Apr. 7, 2020 12:20 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the global economy, the work place and the spread of the virus. ___________ CUSTOMERS FIRST: The pandemic is sapping trillions from the economy and the ramifications for...

In this image from video, Senate Minority Leader Chuck Schumer, D-N.Y., speaks on the Senate floor at the U.S. Capitol in Washington, Wednesday, March 25, 2020. (Senate Television via AP)

Schumer proposes $25,000 "heroes" pay for frontline workers

Apr. 7, 2020 12:11 PM EDT

WASHINGTON (AP) — Senate Democratic Leader Chuck Schumer is calling for up to $25,000 “heroes” pay for frontline health care and service industry workers, as Congress pushes ahead with a new coronavirus crisis rescue package. Schumer declared the emerging proposal the “highest...

A normally student filled campus square at Millsaps College in Jackson, Miss., is deserted in face of the coronavirus, as the liberal arts school, like many others, faces financial and enrollment challenges Friday, April 3, 2020. At present, the school has switched to on-line teaching. Colleges across the nation are scrambling to close deep budget holes and some have been pushed to the brink of collapse after the coronavirus outbreak triggered a series of financial losses (AP Photo/Rogelio V. Solis)

Financial hits pile up for colleges as some fight to survive

Apr. 7, 2020 12:03 PM EDT

Colleges across the nation are scrambling to close deep budget holes and some have been pushed to the brink of collapse after the coronavirus outbreak triggered financial losses that could total more than $100 million at some institutions. Scores of colleges say they’re taking heavy hits as they refund...

In this image taken from video provided by the New York Stock Exchange, Tommy Gannon, Assistant Supervisor, Facilities, rings the opening bell at the NYSE, and recognizes the Sodexo food services staff at Beth Israel Deaconess Medical Center in Boston, Tuesday, April 7, 2020, in New York. (New York Stock Exchange via AP)

Wall Street adds to its gains as hopes build for virus peak

Apr. 7, 2020 11:53 AM EDT

NEW YORK (AP) — Stocks are higher in midday trading on Wall Street Tuesday as markets around the world aimed to add to their huge rally from a day earlier. The S&P 500 was up nearly 2.5% after being up as much as 3.5% in the morning. On Monday, it surged 7% following encouraging signs that the...

The UEFA logo displayed to the entrance of the UEFA Headquarters, in Nyon, Switzerland, Tuesday, March 17, 2020. The UEFA meet on 17 March 2020 to discuss the effects of the coronavirus pandemic on the UEFA EURO 2020 and the European Cup competitions. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (Jean-Christophe Bott/Keystone via AP)

UEFA explores financial rule changes due to pandemic impact

Apr. 7, 2020 11:24 AM EDT

UEFA is exploring changes to Financial Fair Play rules as clubs grapple with the sudden loss in revenue caused by the coronavirus pandemic abruptly halting competitions across Europe. The cost-control regulations were introduced a decade ago as a response to the global financial crisis caused by the banking...

A sign advertising hiring is posted outside the HoneyBaked store in Rolling Meadows, Ill., Friday, April 3, 2020. Employers are still hiring during coronavirus pandemic. (AP Photo/Nam Y. Huh)

Employers posted solid job openings before virus shutdowns

Apr. 7, 2020 10:36 AM EDT

WASHINGTON (AP) — U.S. employers posted a healthy number of job openings in February, evidence that the job market was in decent shape before the viral outbreak brought the economy to a near standstill. The report, released by the Labor Department Tuesday, is largely an artifact from the pre-virus era,...