Latest National budgets News

Brothers Victor Ochoa, 7, right, Jesus Ochoa, 5, second from right, Mariano Ochoa 9, second from left, and their mother Mariana Ochoa run in front of their home in Chicago, Friday, May 22, 2020.  Chicago Run's at-home fitness programs have become an essential part of the family's routine during the coronavirus pandemic. (AP Photo/Nam Y. Huh)

Virus crisis a challenge for youth fitness nonprofits

May. 24, 2020 9:52 AM EDT

CHICAGO (AP) — Mariana Ochoa worries about the effect of the COVID-19 crisis on her three boys. Their school is closed. She can't take them to their favorite park at the moment. There is no backyard at their home on the southwest side of Chicago. The fitness routines she gets from Chicago Run are a weekly...

Mitsubishi Aircraft closing overseas locations, cutting jobs

May. 22, 2020 8:22 PM EDT

SEATTLE (AP) — Mitsubishi Heavy Industries is cutting hundreds of jobs in Washington state and shuttering its U.S. operations for the troubled SpaceJet project, the company said Friday. “Due to the budget directives, Mitsubishi Aircraft will close its overseas locations and consolidate activities at...

Delegates applaud as Chinese President Xi Jinping arrives for the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Friday, May 22, 2020. (AP Photo/Ng Han Guan, Pool)

China boosts spending for virus-hit economy, takes up HK law

May. 22, 2020 7:33 AM EDT

BEIJING (AP) — China’s No. 2 leader on Friday promised higher spending to revive its pandemic-stricken economy and curb surging job losses but avoided launching a massive stimulus on the scale of the United States or Japan. Premier Li Keqiang told lawmakers Beijing would set no economic growth...

FILE - In this Oct. 1, 2019, file photo, soldiers from China's People's Liberation Army (PLA) Navy let out a yell as they march in formation during a parade to commemorate the 70th anniversary of the founding of Communist China in Beijing. China will boost defense spending by just 6.6% in 2020, the lowest rate in years as it battles an economic crisis brought on by the coronavirus outbreak, the government said Friday, May 22, 2020. (AP Photo/Mark Schiefelbein, File)

China hikes defense spending by 6.6%, lowest rate in years

May. 22, 2020 1:00 AM EDT

BEIJING (AP) — China will increase its defense spending by 6.6% in 2020, the lowest rate in years as it battles an economic crisis brought on by the coronavirus outbreak, the government said Friday. The figure is down from the double-digit percentage increases of just a few years ago that have given China...

FILE - In this March 30, 2020, file photo, a man jogs past the Olympic rings in Tokyo. Tokyo Olympic CEO Toshiro Muto talked Thursday, May 21, about the need to take “countermeasures” to combat COVID-19 at next year's postponed games.  (AP Photo/Jae C. Hong, File)

USOPC eliminates 51 in response to COVID-related shortfall

May. 21, 2020 10:45 PM EDT

DENVER (AP) — The U.S. Olympic and Paralympic Committee is eliminating 51 positions and furloughing 33 more as part of a dramatic cut in staffing designed to trim up to 20% of its budget to respond to shortfalls caused by the coronavirus pandemic. “I am overwhelmed by the magnitude of this change....

People sit at a cafe in Milan, Italy, Monday, May 18, 2020. On Monday, Italians enjoyed a first day of regained freedoms, including being able to sit down at a cafe or restaurant, shop in all retail stores or attend church services such as Mass. (Marco Alpozzi/LaPresse via AP)

EU says virus fund access to be linked to its budget advice

May. 20, 2020 7:30 AM EDT

BRUSSELS (AP) — The European Union signaled Wednesday that it will not punish member countries for breaking the bloc’s deficit rules to tackle the coronavirus but that it could condition their access to sorely-needed recovery funds on them following its advice on how to manage their budgets. The...

German Chancellor Angela Merkel speaks during a press conference following a joint video conference with French President Macron in Berlin, Germany, Monday, May 18, 2020. One topic was the Corona Pandemic and its consequences. (Kay Nietfeld/dpa via AP)

Germany breaks taboo in effort to get EU through pandemic

May. 19, 2020 12:13 PM EDT

FRANKFURT, Germany (AP) — Germany’s agreement to share debt with other EU countries to finance an economic recovery plan is being greeted as a political breakththrough and an overdue sign of unity in the face of the worst downturn the bloc has ever seen. Chancellor Angela Merkel broke with her...

German Chancellor Angela Merkel talks to French President Emmanuel Macron, connected by video, during a press conference after a joint video conference in Berlin, Germany, Monday, May 18, 2020. One topic was the corona pandemic and its consequences. (Kay Nietfeld/dpa via AP)

Germany, France propose virus recovery fund for EU economy

May. 18, 2020 2:57 PM EDT

BERLIN (AP) — The leaders of Germany and France agreed Monday on a one-off 500 billion-euro ($543 billion) fund to help the European Union recover from the coronavirus pandemic, a proposal that would add further cash to an arsenal of financial measures the bloc is readying to cope with the outbreak's...

China goes after US over more than $1 billion owed to the UN

May. 16, 2020 4:04 PM EDT

UNITED NATIONS (AP) — China is going after the United States over more than $1 billion that the Trump administration owes the United Nations in unpaid dues for its regular operating budget and arrears for the separate budget for the U.N.’s far-flung peacekeeping operations. The unusual singling out...

New Zealand Prime Minister Jacinda Ardern, right, walks with Deputy Prime Minister Winston Peters to the house for the budget delivery speech at Parliament in Wellington, New Zealand, Thursday, May 14, 2020. New Zealand's government plans to borrow and spend vast amounts of money as it tries to keep unemployment below 10% in the wake of the coronavirus pandemic. (Hagen Hopkins/Pool Photo via AP)

New Zealand plans spending spree to counter virus job losses

May. 14, 2020 3:58 AM EDT

WELLINGTON, New Zealand (AP) — New Zealand’s government plans to borrow and spend vast amounts of money as it tries to keep unemployment below 10% in the wake of the coronavirus pandemic. Finance Minister Grant Robertson on Thursday unveiled a budget unlike any in the nation's history. Debt would...