Latest Financial crisis News

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 2, 2020. Asian stock markets followed Wall Street higher Thursday as hopes for development of a coronavirus vaccine competed with concern about rising U.S. infections. (AP Photo/Ahn Young-joon)

Asian stocks follow Wall Street higher on vaccine hopes

Jul. 2, 2020 12:04 AM EDT

Asian stock markets followed Wall Street higher Thursday as hopes for development of a coronavirus vaccine competed with concern about rising U.S. infections. Benchmarks in Shanghai, Tokyo, Hong Kong and Australia all advanced. Investors were encouraged after Pfizer and BioNtech announced preliminary data from a...

Health officials disinfect an area around a hospital after one of the hospital's patients tested positive for the new coronavirus in Gwangju, South Korea, Wednesday, July 1, 2020. South Korea is considering including religious facilities on the same list with nightclubs, hostess bars and karaoke rooms as

The Latest: South Korea worries as virus resurgence spreads

Jul. 1, 2020 10:41 PM EDT

SEOUL, South Korea — South Korea says it has confirmed 54 more COVID-19 cases as the coronavirus continues to spread beyond the capital region and reach cities like Gwangju, which has shut schools and tightened social restrictions after dozens fell sick this week. The figures reported Thursday brought the...

Nevada sets tentative date for special session July 8

Jul. 1, 2020 6:13 PM EDT

CARSON CITY, Nev. (AP) — A special session of the state Legislature has been tentatively scheduled for July 8, Nevada Gov. Steve Sisolak announced Wednesday. State lawmakers will return to address budget issues caused by the coronavirus pandemic and subsequent business closures. The state funds a large...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic. The minutes of the June 9-10 discussions that were made public Wednesday, July 1, 2020, show officials grappling with economic disruptions that had already occurred. (AP Photo/Patrick Semansky, File)

Fed minutes show concerns about severity of downturn

Jul. 1, 2020 5:26 PM EDT

WASHINGTON (AP) — Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic, saying the drop in economic activity in the spring would likely be the steepest in the post-World War II period. The minutes of the June 9-10...

FILE - In this July 29, 2015 file photo, the Puerto Rican flag flies in front of Puerto Rico's Capitol as in San Juan, Puerto Rico. A federal control board that oversees Puerto Rico’s finances approved on Wednesday, July 1, 2020, a new budget that largely suspends austerity measures and government cuts for one year as the U.S. territory struggles to recover from hurricanes, earthquakes and the pandemic. (AP Photo/Ricardo Arduengo, File)

Puerto Rico board approves $10B budget as resignations loom

Jul. 1, 2020 4:57 PM EDT

SAN JUAN, Puerto Rico (AP) — Puerto Rico awoke to a new budget approved early Wednesday that largely suspends austerity measures and government cuts for one year as the U.S. territory struggles to recover from hurricanes, earthquakes and the pandemic. A federal control board that oversees Puerto...

Minutes for Fed's June meeting show officials concerned about severity of economic damage from virus-induced downturn

Jul. 1, 2020 2:09 PM EDT
WASHINGTON (AP) — Minutes for Fed's June meeting show officials concerned about severity of economic damage from virus-induced downturn.

6 Do’s and Don’ts When Saving Money During a Crisis

Jul. 1, 2020 12:07 PM EDT

Probably the last thing you want to think about during a crisis is working on healthy financial habits like saving money. But if you’re able to save, you can make your eventual recovery easier. “Every time you put some (money) away, you’re looking out for your future self,” says...

Lebanese soldiers stand guard as a woman leaves the Rafik Hariri International Airport in Beirut, Lebanon, Wednesday, July 1, 2020. Beirut's airport is partially reopening after a three-month shutdown and Lebanon's cash-strapped government is hoping that thousands of Lebanese expatriates will return for the summer, injecting dollars into the country's sinking economy. (AP Photo/Bilal Hussein)

Lebanon’s plea to skeptical expats: Come visit, bring cash

Jul. 1, 2020 7:45 AM EDT

BEIRUT (AP) — With Beirut’s airport partially reopening from a three-month virus shutdown, the government is hoping thousands of Lebanese expatriates will return for the summer — and bring dollars desperately needed to prop up the crashing economy. But Lebanon’s far-flung diaspora,...

A woman wearing a mask passes the New York Stock Exchange, Tuesday, June 30, 2020, during the coronavirus pandemic. (AP Photo/Mark Lennihan)

Asian shares up after Wall St closes best quarter since 1998

Jul. 1, 2020 12:00 AM EDT

TOKYO (AP) — Asian shares were mostly higher Wednesday after Wall Street capped its best quarter since 1998, shrugging off continued signs of global economic damage from the coronavirus pandemic. Japan's benchmark Nikkei 225 slipped 0.2% to 22,187.27. South Korea's Kospi rose 1.0% to 2,130.14. Australia's...

Residents wearing masks to curb the spread of the coronavirus line up for COVID-19 test outside the Worker's Stadium in Beijing on Tuesday, June 30, 2020. Test sites have sprung up through the Chinese capital as test have become a daily normal after the latest outbreak of the coronavirus, (AP Photo/Ng Han Guan)

The Latest: SKorea weighs listing churches as 'high risk'

Jun. 30, 2020 9:58 PM EDT

SEOUL, South Korea -- South Korea is considering including religious facilities on the same list with nightclubs, hostess bars and karaoke rooms as “high risk” venues for the spread of COVID-19 following a slew of transmissions tied to church gatherings. South Korean Prime Minister Chung Sye-kyun...