Latest Economy 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...

Danielle Savin, co-owner of a bar called Bob's Your Uncle, poses for a photo, Tuesday, June 30, 2020, at the bar in Miami Beach, Fla. Savin owns two bars that were forced to shut down for months in both New York and Miami Beach. When the pandemic first hit and New York was the country's epicenter she feared for that business, but months later the two states have flip-flopped. (AP Photo/Wilfredo Lee)

Across Sun Belt, hopes for economy give way to renewed fears

Jul. 4, 2020 10:17 AM EDT

ST. PETERSBURG, Fla. (AP) — At the beginning of March, Joey Conicella and Alex Marin were riding high. Their new Orlando restaurant, Hungry Pants, had drawn rave reviews. With revenue rising, they planned to hire more servers. Sunday brunch service was coming soon. That was just before the coronavirus...

Migrants who are seeking seasonal work harvest fruits stand in a square in Lleida, Spain, Thursday, July 2, 2020. Authorities in northeast Spain have ordered the lockdown of a county around the city of Lleida due to worrying outbreaks of the COVID-19 virus. Catalan regional authorities announced Saturday, July 4, 2020 that as of noon local time movement will be restricted to and from the county of El Segriá around Lleida which is home to over 200,000 people. Residents will have until 4 p.m. to enter the area. The new outbreaks are linked to agricultural workers in the rural area. (AP Photo/Emilio Morenatti)

Virus spike in Spain reveals plight of seasonal farm workers

Jul. 4, 2020 9:58 AM EDT

LLEIDA, Spain (AP) — In the 20 years since he left his native Senegal, Biram Fall has never slept in the streets. This week, when he ran out of savings after failing to find work in northern Spain’s peach orchards, he still refused to do so. As part of an army of cheap labor that follows the...

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...

FILE - In this March 9, 2020 file photo, Washington's peace envoy Zalmay Khalilzad, attends Ashraf Ghani's inauguration ceremony at the presidential palace in Kabul, Afghanistan. According to a statement released Thursday, July 2, 2020, by the U.S. Embassy in Islamabad, Khalilzad told Pakistani officials that Afghanistan’s Taliban and Kabul’s political leaders were close to starting negotiations to decide the face of a post-war Afghanistan, a crucial next step in a U.S. deal signed with the Taliban in February. (AP Photo/Rahmat Gul, File)

US envoy forges ahead with troubled Taliban peace deal

Jul. 4, 2020 9:20 AM EDT

ISLAMABAD (AP) — Washington's envoy to Afghanistan on Saturday emphasized the economic benefits of the peace deal with the Taliban, forging ahead with an agreement that has run into new political obstacles in the U.S. and the region. Zalmay Khalilzad was wrapping up a week-long trip that included stops in...

Northeast Indian state bans sale of dog meat amid protest

Jul. 4, 2020 5:54 AM EDT

GAUHATI, India (AP) — Authorities in India’s northeastern state of Nagaland have banned the sale of dog meat and halted the import and trading of dogs to be used for food, officials said Saturday. The remote Christian-majority state’s Chief Secretary Temjen Toy said in a tweet that the state...

Friends of Santa Cruz State Parks volunteer Alejandro Ortiz closes the gate after allowing an overnight camper access to the parking lot at Francis Beach at Half Moon Bay State Park in Half Moon Bay, Calif., Friday, July 3, 2020. California Gov. Gavin Newsom ordered the parking lots of state beaches to close for the Fourth of July weekend to help prevent the spread of the coronavirus. Half Moon Bay added to the closure by restricting visitors access to the beach. (Jose Carlos Fajardo/Bay Area News Group via AP)

The Latest: Calif gov warns local officials on enforcement

Jul. 3, 2020 11:29 PM EDT

LOS ANGELES — California Gov. Gavin Newsom is warning local elected officials that they risk losing state funding if they don’t enforce health orders as the coronavirus pandemic worsens. Newsom has rolled back or limited some businesses reopening in Los Angeles and 20 other counties, now including...

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...

FILE — In this May 8, 2020, file photo a man looks into a tent as a health worker in protective gear collects a sample for COVID-19 testing in Diepsloot, Johannesburg, South Africa. South Africa’s reported coronavirus are surging. Its hospitals are now bracing for an onslaught of patients, setting up temporary wards and hoping advances in treatment will help the country’s health facilities from becoming overwhelmed. (AP Photo/Themba Hadebe, File)

South Africa's hospitals bracing for surge of virus patients

Jul. 3, 2020 2:11 PM EDT

JOHANNESBURG (AP) — The nurse started crying when describing her work at a Johannesburg hospital: The ward for coronavirus patients is full, so new arrivals are sent to the general ward, where they wait days for test results. Already 20 of her colleagues have tested positive. “A lot, a lot, a lot of...

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...