Latest Financial markets News

UW-Madison Chancellor: 'We're in a real financial crisis'

Aug. 12, 2020 2:52 PM EDT

MADISON, Wis. (AP) — University of Wisconsin-Madison Chancellor Rebecca Blank delivered a sobering message Wednesday about the state's flagship campus as the fall semester looms, saying "we're in a real financial crisis” due to the coronavirus pandemic. How bad the crisis will be depends on several...

FILE - This July 21, 2020 file photo shows The New York Stock Exchange.  Stocks are rebounding in early trading on Wall Street Wednesday, Aug. 12, carrying the S&P 500 back toward the cusp of its record high. The benchmark index was up 1% after the first half-hour of trading and on pace for its eighth gain in nine days.  (AP Photo/Mark Lennihan, File)

Stocks rebound on Wall Street as S&P 500 nears record again

Aug. 12, 2020 1:46 PM EDT

Stocks are rebounding on Wall Street Wednesday, carrying the S&P 500 back toward the edge of its record high. The benchmark index was up 1.3% in afternoon trading and on pace for its eighth gain in nine days. It pulled within 0.3% of its record, which was set in February when the coronavirus seemed like only...

FILE - In this Jan. 7, 2020 file photo, Syrian President Bashar Assad listens to Russian President Vladimir Putin during their meeting in Damascus, Syria. Assad interrupted a speech he was giving to Parliament after he suffered a brief drop in blood pressure, the Syrian presidency said Wednesday, Aug. 12, 2020. The presidency said the apparently pre-recorded speech was halted for “several minutes” because of a “mild” case of low blood pressure he suffered, after which he continued the speech as normal. (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP, File)

Syria: President Assad suffers brief drop in blood pressure

Aug. 12, 2020 12:53 PM EDT

DAMASCUS, Syria (AP) — Syrian President Bashar Assad interrupted a speech he was giving to parliament Wednesday, telling a room full of lawmakers that he needed to “sit down for a minute” after suffering a brief drop in blood pressure. Assad, 54, was half an hour through his speech when he...

Ricky Hurtado, a Democratic candidate for the North Carolina state house, walks past a child's toy car as he canvasses in a largely Latino trailer community, in Burlington, N.C., Sunday, March 8, 2020. (AP Photo/Jacquelyn Martin)

He set out to mobilize Latino voters. Then the virus hit.

Aug. 12, 2020 12:48 PM EDT

GRAHAM, N.C (AP) — Like many Americans, Ricky Hurtado had different plans for his summer. He formally announced his first bid for public office in March and expected to spend sweltering days knocking on doors, clenching glossy campaign literature and making his case directly to voters. This was the summer...

FILE - In this Nov. 25, 2019 file photo Federal Reserve Bank of Boston President Eric Rosengren, left, speaks during a round table discussion at Silver Lane Elementary School, in East Hartford, Conn.  Rosengren said in remarks delivered online Wednesday, Aug. 12, 2020,  that states in the South and West that allowed their businesses to reopen after short shutdowns saw an initial burst of economic activity. But spikes in infection rates soon followed and those states’ economies are now lagging those in the Northeast as consumers have become more cautious.  (AP Photo/Steven Senne, file)

Boston Fed chief: States' rush to reopen slowed US recovery

Aug. 12, 2020 12:31 PM EDT

WASHINGTON (AP) — A top official at the Federal Reserve criticized the decision by many states to reopen businesses this spring before getting the virus fully under control, and said those choices have hindered an economic recovery in the U.S. Eric Rosengren, president of the Federal Reserve Bank of...

Women wear masks to help prevent the spread of coronavirus at the end of a beach day, Tuesday, Aug. 11, 2020, in Ogunquit, Maine. (AP Photo/Robert F. Bukaty)

Maple syrup producers now eligible for pandemic help

Aug. 12, 2020 12:13 PM EDT

PORTLAND, Maine (AP) — Producers of maple syrup, a major agricultural product in northern U.S. states, are now eligible for financial relief to help mitigate the impact of the coronavirus pandemic. Maple syrup is an economic driver in states such as Vermont, New York and Maine, which are the top three...

FILE - In this Oct. 2, 2019, file photo, a Microsoft Surface Duo is displayed in New York. Microsoft is back to selling smartphones for the first time since it abandoned its mobile business more than four years ago.
The company began taking orders Wednesday, Aug. 12, 2020, for the Surface Duo, a new dual-screen Android device that costs $1,399 and begins shipping in September. (AP Photo/Mark Lennihan, File)

Microsoft back in the smartphone business with its new Duo

Aug. 12, 2020 9:39 AM EDT

Microsoft is back to selling smartphones for the first time since it abandoned its mobile business more than four years ago. The company began taking orders Wednesday for the Surface Duo, a new dual-screen Android device that costs $1,399 and begins shipping in September. The high-priced gadget is designed to...

New Mexico health insurance co-op prepares to close

Aug. 12, 2020 9:09 AM EDT

SANTA FE, N.M. (AP) — A cooperative health insurance provider to 14,000 customers on New Mexico's subsidized marketplace will cease operations at the start of 2021. State insurance regulators announced Tuesday that New Mexico Health Connections will not be an option during the open enrollment period that...

FILE - In this July 18, 2020 file photo, released by the official website of the office of the Iranian Presidency, President Hassan Rouhani adjusts his face mask in a meeting of the national headquarters of the fight against the COVID-19, in Tehran, Iran. Iranian hard-liners in parliament voted Wednesday, Aug. 12, 2020, against Rouhani’s nominee for trade minister. The vote marked the first serious confrontation between the newly elected house, dominated by conservatives and the bloc of supporters of the relatively moderate Rouhani. Writing in Farsi reads:

Iran's president, FM lash out at new US push on arms embargo

Aug. 12, 2020 7:47 AM EDT

TEHRAN, Iran (AP) — Iran's president and foreign minister lashed out on Wednesday at a revised proposal by the U.S. that would extend a U.N. arms embargo on Iran indefinitely, the latest in the Trump administration's maximum pressure policy against Iran. The U.S. on Tuesday circulated the revised draft at...

A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Wednesday, Aug. 12, 2020. Shares were mostly lower in Asia on Wednesday after Wall Street pumped the brakes on its recent rally. (AP Photo/Eugene Hoshiko)

Shares mostly lower in Asia after retreat on Wall Street

Aug. 12, 2020 12:07 AM EDT

Shares were mostly lower in Asia on Wednesday after Wall Street pumped the brakes on its recent rally. Tokyo’s Nikkei 225 index edged higher while the Shanghai Composite sank 2%. Overnight, a late slide in big technology companies left indexes broadly lower on Wall Street, breaking a seven-day winning...