Latest Economy News

CORRECTS TO NASDAQ, NOT NEW YORK STOCK EXCHANGE - In this image from video made available by NASA, astronaut Chris Cassidy, right, rings the opening bell of the Nasdaq Stock Exchange accompanied by fellow astronauts Robert L. Behnken, left, and Doug Hurley in the International Space Station on Tuesday, June 2, 2020. (NASA via AP)

US stock indexes head higher on hope for economic recovery

Jun. 2, 2020 2:48 PM EDT

U.S. stock indexes are moving broadly higher in afternoon trading Tuesday, following broad gains in global markets as investors hope that the gradual lifting of coronavirus lockdown mandates will put economies ravaged by the outbreak on the path to recovery. The S&P 500 was up 0.3%. Industrial, technology,...

Protesters chant during a solidarity march for George Floyd, Tuesday, June 2, 2020, in Times Square, New York. George Floyd died after being restrained by Minneapolis police officers on May 25. (AP Photo/Eduardo Munoz Alvarez)

US cities erupt in more violence as Trump decries `lowlifes'

Jun. 2, 2020 2:47 PM EDT

WASHINGTON (AP) — President Donald Trump on Tuesday turned up the pressure on governors to quell the violence set off by the death of George Floyd, demanding New York call up the National Guard to stop the “lowlifes and losers.” As cities around the U.S. witnessed a seventh straight night of...

Protesters clap their hands outside the courthouse Tuesday, June 2, 2020 in Paris. Thousands of people defied a police ban and converged on the main Paris courthouse for a demonstration to show solidarity with U.S. protesters and denounce the death of a black man in French police custody. The demonstration was organized to honor Frenchman Adama Traore, who died shortly after his arrest in 2016, and in solidarity with Americans demonstrating against George Floyd's death. (AP Photo/Michel Euler)

The Latest: Court invalidates South Africa's virus measures

Jun. 2, 2020 2:33 PM EDT

The Latest on the coronavirus pandemic. COVID-19 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. — JOHANNESBURG -- South Africa’s lockdown regulations have been declared invalid...

The buildings of the banking district are seen in Frankfurt, Germany, at dawn on early Sunday, May 31, 2020. (AP Photo/Michael Probst)

With Italy at risk, Europe Central Bank could boost stimulus

Jun. 2, 2020 2:28 PM EDT

FRANKFURT, Germany (AP) — The European Central Bank could soon expand its anti-pandemic stimulus program to more than a trillion euros, giving it more firepower to keep the virus crisis from sliding into a new financial crisis for the 19 countries that use the euro. Analysts say that the ECB's 25-member...

The view to the north from Myrtle Beach State Park Pier on Saturday, May 16, 2020 in Myrtle Beach, S.C. With hotels, beaches, shopping and restaurants reopening along the Grand Strand, tourist season kicked off this weekend despite coronavirus concerns.(Jason Lee/The Sun News via AP)

Amid outbreak, officials seek safe ways to draw visitors

Jun. 2, 2020 1:59 PM EDT

COLUMBIA, S.C. (AP) — A week into the summer season that typically drives South Carolina's robust tourism economy, finding ways to safely draw visitors to the state amid the coronavirus outbreak is top-of-mind for officials discussing the state's reopening. “For the tourism industry, it is certainly...

Cheyenne HollyFrontier refinery to lay off 200, switch focus

Jun. 2, 2020 1:07 PM EDT

CHEYENNE, Wyo. (AP) — One of Wyoming's major oil refineries will lay off over two-thirds of its workforce and undergo a major reworking in response to tough economic conditions. The announcement Monday by HollyFrontier Corp. was more bad economic news for Cheyenne after last week's announcement that the...

Business and economic events scheduled for Wednesday

Jun. 2, 2020 1:03 PM EDT
Business and economic events scheduled for Wednesday. All times are Eastern. WASHINGTON — ADP releases its employment survey for May, 8:15 a.m. WASHINGTON — Institute for Supply Management releases its service sector index for May, 10 a.m.
A woman poses for a photo by the

Spending starting to improve, some retail sales rising

Jun. 2, 2020 12:13 PM EDT

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the national and global response, the work place and the spread of the virus. ________________________ SPENDING: — With countries starting to loosen lockdown...

A traveler walks in a mostly empty American Airlines terminal at the Los Angeles International Airport, Thursday, May 28, 2020, in Los Angeles. From Britain's EasyJet to American and Delta in the U.S., airlines are cutting even more jobs to cope with a crushing drop in air travel caused by the coronavirus pandemic. (AP Photo/Marcio Jose Sanchez)

Virus leaves the US travel industry struggling to recover

Jun. 2, 2020 12:11 PM EDT

U.S. air travel down almost 90% from a year ago. A ghostly emptiness at Hawaii's tourist hotels. Deserted Las Vegas casinos counting the days to reopening. Few sectors of the economy have endured as much devastation from the coronavirus as the travel business. Surveying the wreckage, economists and company...

European Union's chief Brexit negotiator Michel Barnier speaks during a media conference, following the third round of Brexit talks between the EU and Britain, at EU headquarters in Brussels, Friday, May 15, 2020. Talks between the European Union and the United Kingdom on their future relationship in the wake of Brexit have ground to a near-standstill despite the urgency for progress before a summit next month.(Francois Lenoir, Pool Photo via AP)

EU, UK leaders to meet this month as post-Brexit talks stall

Jun. 2, 2020 11:32 AM EDT

BRUSSELS (AP) — The European Union's top executive and British Prime Minister Boris Johnson will meet this month for talks that could give new momentum to the stalled post-Brexit negotiations. As a fourth round of talks between teams of negotiators resumed Tuesday with little hope for a breakthrough on a...