Latest Economy News
The Latest: Florida reports 10,000 daily coronavirus cases
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...
Officials warn COVID-19 job recovery not happening in SC
COLUMBIA, S.C. (AP) — As COVID-19 cases show no sign of slowing and more people are ending up in the hospital with the virus, South Carolina officials said the recovery of jobs they hoped for has not materialized. Nearly 17,000 people filed unemployment claims for the week ending June 27 in South...
US unemployment falls to 11%, but new shutdowns are underway
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...
California reverses course from reopening amid virus surge
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...
Stocks rise on jobs data, S&P 500 nears week-long sweep
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...
Post-Brexit talks deadlocked after latest negotiating round
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...
Ohio governor expected to review school reopening guidelines
COLUMBUS, Ohio (AP) — Ohio Gov. Mike DeWine was expected Thursday to announce state guidelines for how schools should reopen this fall amidst the coronavirus pandemic. The long-awaited guidelines are coming as many districts have already moved ahead with their own proposals. Columbus, the state's largest...
Alaska Airlines secures loans; casinos in NJ reopening
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...
Oklahoma ends year with $585.5 million budget shortfall
OKLAHOMA CITY (AP) — Oklahoma has ended the fiscal year with a $585.5 million budget shortfall amid an economic slowdown due to the coronavirus pandemic, state Treasurer Randy McDaniel said Thursday. The state collected just more than $13 billion during the 12 months that ended June 30, or 4.3% less than...
US long-term mortgage rates hit all-time low again
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...
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