Latest Recessions and depressions News
No rodeo festival dashes Wyoming city's hopes amid COVID-19
CHEYENNE, Wyo. (AP) — The Just Dandy women's clothing store in downtown Cheyenne has endured fire, flooding, recessions and so far the coronavirus pandemic, but will this year's cancellation of the city's famous cowboy-and-rodeo festival, Cheyenne Frontier Days, be the daddy-of-'em-all disaster? “I...
Stocks erase a loss as worries over China tensions fizzle
Stocks closed out a solid week on Wall Street Friday with a late-afternoon rebound after worries that President Donald Trump would reignite a costly trade war with China faded. The benchmark S&P 500 index rose 0.5%, recovering from a 1% slide, after Trump outlined several actions in response to a move by...
Powell: Fed to soon begin 'challenging' Main Street lending
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward...
What you need to know today about the virus outbreak
U.S. consumer spending plunged by a record-shattering 13.6% in April as the pandemic shuttered businesses, forced millions of layoffs and sent the economy into deep recession. Europe’s extensive social welfare net is showing signs of fraying under economic strain from the coronavirus. The Spanish...
US consumer spending sinks by record 13.6% in face of virus
WASHINGTON (AP) — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month's spending decline was far worse than the revised 6.9% drop in March, which itself had set a...
Debate over $600 in jobless aid to intensify as claims rise
WASHINGTON (AP) — A debate in Congress over whether to extend $600 a week in federally provided benefits to the unemployed looks sure to intensify with the number of people receiving the aid now topping 30 million — one in five workers. The money, included in a government relief package enacted in...
The Latest: UN urges $2.4 billion in aid for war-torn Yemen
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: — UN urgently appeals for $2.4 billion to help Yemen cope...
Asia shares fall as US-China tensions douse rally on Wall St
BANGKOK (AP) — Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. Benchmarks declined in Hong Kong, Tokyo and Sydney but rose in Shanghai. Investors are nervously awaiting a news conference about China by President Donald Trump later in...
What you need to know today about the virus outbreak
Roughly 2.1 million people applied for U.S. unemployment benefits last week, a sign companies are still slashing jobs in the face of a deep recession even as more businesses reopen and rehire some laid-off employees. About 41 million people have applied for aid since the virus outbreak intensified in March....
White House punts economic update as election draws near
WASHINGTON (AP) — The White House took the unusual step on Thursday of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...
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