Latest Economy News

A currency trader talks on the phone near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Monday, May 25, 2020. Asian shares are mostly higher, with Tokyo stocks gaining on expectations that a pandemic state of emergency will be lifted for all of Japan. But shares fell in Hong Kong on Monday after police used tear gas to quell weekend protests over a proposed national security bill for the former British colony. (AP Photo/Lee Jin-man)

Asian shares climb, Tokyo gains on hopes for reopening

May. 25, 2020 12:14 AM EDT

TOKYO (AP) — Asian shares are mostly higher, with Tokyo stocks gaining on expectations that a pandemic state of emergency will be lifted for all of Japan. But shares fell in Hong Kong on Monday after police used tear gas to quell weekend protests over a proposed national security bill for the former...

Pedestrians pass a street crossing Friday, May 22, 2020, in Tokyo. Tokyo is still under a coronavirus state of emergency until the end of May though there have been no hard lockdowns. (AP Photo/Eugene Hoshiko)

The Latest: Japan set to end Tokyo's state of emergency

May. 25, 2020 12:06 AM 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: — Japan set to remove state of emergency from Tokyo, 4 other...

FILE - In this Sunday, May 24, 2020, file photo, China's Foreign Minister Wang Yi is seen broadcasted remotely on big screens at the media center during a press conference held on the sideline of the National People's Congress in Beijing. Wang is dismissing claims that the country is exploiting the coronavirus outbreak to expand its footprint in the South China Sea, labeling such accusations as “sheer nonsense.

China denies using virus to grow presence in South China Sea

May. 24, 2020 11:35 PM EDT

BEIJING (AP) — A look at recent developments in the South China Sea, where China is pitted against smaller neighbors in multiple territorial disputes over islands, coral reefs and lagoons. The waters are a major shipping route for global commerce and are rich in fish and possible oil and gas reserves. ___...

A photo provided by the Louisiana State Police shows Trooper George Baker, 33, who died Sunday, May 24, 2020, days after he was struck by another law enforcement vehicle as he aided in a pursuit of two suspects. (Louisiana State Police via AP)

Trooper dies of injuries suffered in on-duty death

May. 24, 2020 8:23 PM EDT

HAMMOND, La. (AP) — A Louisiana state trooper injured last week during a vehicle pursuit died Sunday morning, state police and the governor's office said. Trooper George Baker, 33, was assisting the Hammond Police Department with the pursuit around 2:15 a.m. Wednesday. State police said Baker and another...

Nebraska economy fares better than most states amid pandemic

May. 24, 2020 4:03 PM EDT

OMAHA, Neb. (AP) — Nebraska's economy has been devastated by the coronavirus outbreak and unemployment has surged, but the state has fared better than most of the rest of the nation. The state's unemployment rate for April registered 8.3%, which remains well below the national rate of 14.7%. Nebraska's...

FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)

Trump's pitch to voters: Trust me, economy will soar in 2021

May. 24, 2020 2:39 PM EDT

WASHINGTON (AP) — President Donald Trump has a new pitch to voters for this fall: Trust me. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election....

In this Friday May 1, 2020 photo, 34-year-old entrepreneur Fino Dlamini poses for a photograph inside her office in the Soweto township outside Johannesburg, South Africa.  Business was good in January and February, and projections for the rest of 2020 were excellent. Then the coronavirus brought everything to an abrupt halt. Dlamini was confined to her small home under a strict lockdown, with few options for earning money. South Africa is struggling to balance its fight against the coronavirus with its dire need to resume economic activity. The country with the Africa’s most developed economy also has its highest number of infections — more than 19,000.  (AP Photo/Bram Janssen)

In fight against virus, South Africa expects a long wait

May. 24, 2020 1:46 PM EDT

JOHANNESBURG (AP) — With her winning smile and outgoing nature, Fino Dlamini was a natural to succeed in South Africa’s booming tourism industry. Her bicycle tours of Soweto took visitors to historic sites, including the homes of Nelson Mandela and Archbishop Desmond Tutu, and to restaurants where...

In this Tuesday, May 12, 2020, photo, Saint Wilkins poses for a portrait outside The Salvation Army's Ray and Joan Kroc Corps Community Center on Chicago's Southside. Growing up in a rough part of Chicago's South Side, Wilkins figured he was headed for a life on the streets.

Public youth sports concerned about lasting COVID-19 effect

May. 24, 2020 9:49 AM EDT

CHICAGO (AP) — Growing up in a rough part of Chicago’s South Side, Saint Wilkins figured he was headed for a life on the streets. The 19-year-old Wilkins has another plan these days — attend college, study psychology and work with children and teenagers. Before he started playing basketball...

FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)

Trump's pitch to voters: Trust me, economy will soar in 2021

May. 24, 2020 8:19 AM EDT

WASHINGTON (AP) — President Donald Trump has a new pitch to voters for this fall: Trust me. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election....

Visitors wearing masks to curb the spread of the coronavirus take shelter from a sudden rainstorm at a park in Beijing on Saturday, May 23, 2020. New coronavirus cases dropped to zero in China for the first time Saturday but overwhelmed hospitals across Latin America – both in countries lax about lockdowns and those lauded for firm, early confinement. (AP Photo/Ng Han Guan)

The Latest: Montana outbreak tied to Schwab country club

May. 24, 2020 1:04 AM 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: — Montana outbreak tied to golf and country club developed by...