Latest Financial crisis News

Silver City expo for mine employees out of work by pandemic

Sep. 24, 2020 11:45 PM EDT

ALBUQUERQUE, N.M. (AP) — Western New Mexico University and Chino Mine’s parent company are co-hosting an expo next week to help mine employees put out of work by the coronavirus pandemic. The Silver City community’s first drive-through training expo is scheduled for Wednesday afternoon,...

FILE - In this April 1, 2020 photo, a

Sales of new homes surge 4.8% in August

Sep. 24, 2020 12:11 PM EDT

NEW YORK (AP) — Demand for new homes continues to surge despite an ongoing pandemic and lingering anxiety about the U.S. economy. The pace of sales have now reached levels last seen before the Great Recession in 2006. Sales new homes in August rose by a very strong 4.8% to a seasonally-adjusted annual...

Chief of Defence Staff Jonathan Vance, left, and Canadian Prime Minister Justin Trudeau listen to Gov. Gen. Julie Payette deliver the throne speech in the Senate chamber in Ottawa, Ontario, on Wednesday, Sept. 23, 2020. (Adrian Wyld/The Canadian Press via AP)

Trudeau says Canada is in a second COVID-19 wave

Sep. 23, 2020 7:34 PM EDT

TORONTO (AP) — Prime Minister Justin Trudeau said Wednesday that Canada is in a second wave of COVID-19 and warned the country is on the brink of a fall season that could be much worse than the spring. Trudeau noted that when Canada went into lockdown March 13 there were 47 new confirmed cases of COVID-19,...

Power outage darkens much of Venezuela, puts down phones

Sep. 23, 2020 6:12 PM EDT

CARACAS, Venezuela (AP) — A power outage left parts of Venezuela’s capital and several states in the dark Wednesday, residents and independent observers said. The internet monitoring organization NetBlocks said the outage that started in the early afternoon darkened much of the South American...

Principal Susan Stevens talks to the media during a demonstration of a socially-distanced classroom at A.J. Whittenberg Elementary School of Engineering Monday, July 20, 2020, in Greenville, S.C. (AP Photo/Chris Carlson)

S Carolina teachers stay home to advocate for pay, safety

Sep. 23, 2020 12:31 PM EDT

COLUMBIA, S.C. (AP) — Some South Carolina teachers took a personal day Wednesday to fight for safer classrooms amid the pandemic as well as an annual small raise that was frozen after the economy crashed because of the virus. Unlike May 2019, when SC for Ed brought 10,000 people to the Statehouse for a...

FILE - In this Dec. 31, 2016 file photo, the sun rises over the city skyline with the Burj Khalifa, the world's tallest building, on a foggy day in Dubai, United Arab Emirates. Dubai is tapping the global financial market to potentially raise billions of dollars for the first time in years. That's according to a bond prospectus seen on Tuesday, Sept. 1, 2020, by The Associated Press. It reveals the deepening toll of the coronavirus pandemic on Dubai's economy. (AP Photo/Kamran Jebreili, File)

Reports: Kuwait and the UAE in economic pain amid pandemic

Sep. 23, 2020 9:35 AM EDT

DUBAI, United Arab Emirates (AP) — Two oil-rich Arab Gulf states suffered severe economic blows on Wednesday, as a major credit agency downgraded Kuwait for the first time and the United Arab Emirates acknowledged its economy would contract to a level last seen in 2009. The agency, Moody’s Investors...

U.S President Donald Trump is seen on a video screen remotely addressing the 75th session of the United Nations General Assembly, Tuesday, Sept. 22, 2020, at U.N. headquarters. This year's annual gathering of world leaders at U.N. headquarters will be almost entirely

World powers clash, virus stirs anger at virtual UN meeting

Sep. 22, 2020 8:08 PM EDT

UNITED NATIONS (AP) — Kept apart by a devastating pandemic and dispersed across the globe, world leaders convened electronically Tuesday for an unprecedented high-level meeting, where the U.N. chief exhorted them to unite and tackle the era’s towering problems: the coronavirus, the “economic...

Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing about the government’s emergency aid to the economy in response to the coronavirus on Capitol Hill in Washington on Tuesday, Sept. 22, 2020. (Caroline Brehman/Pool via AP)

Powell and Mnuchin voice optimism but back more economic aid

Sep. 22, 2020 1:13 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding from the pandemic-induced recession with federal support but that more help from the government is likely needed. Powell told the House...

In this photo provided by the United Nations, Jair Bolsonaro, president of Brazil, speaks in a pre-recorded message played during the 75th session of the United Nations General Assembly, Tuesday, Sept. 22, 2020, at U.N. Headquarters in New York. The U.N.'s first virtual meeting of world leaders started Tuesday with pre-recorded speeches from some of the planet's biggest powers, kept at home by the coronavirus pandemic that will likely be a dominant theme at their video gathering this year. (Rick Bajornas/UN via AP)

Bolsonaro to world: Brazil is victim of environmental smear

Sep. 22, 2020 12:47 PM EDT

RIO DE JANEIRO (AP) — Brazilian President Jair Bolsonaro defended his administration’s record protecting the Amazon rainforest, telling the United Nations’ virtual meeting of global leaders on Tuesday that his country has been wrongly portrayed as an environmental villain. Bolsonaro's critics...

In this image made from UNTV video, Chinese President Xi Jinping speaks in a pre-recorded message which was played during the 75th session of the United Nations General Assembly, Tuesday, Sept. 22, 2020, at U.N. headquarters in New York. The U.N.'s first virtual meeting of world leaders started Tuesday with pre-recorded speeches from some of the planet's biggest powers, kept at home by the coronavirus pandemic that will likely be a dominant theme at their video gathering this year. (UNTV via AP)

China's Xi: COVID reveals isolationism as a futile pursuit

Sep. 22, 2020 12:28 PM EDT

China's leader took oblique potshots at the United States and its foreign policies Tuesday, cautioning in a U.N. address that the world must “not fall into the trap of a clash of civilizations" — remarks played minutes after delegates heard the American president insist that the United Nations...