Latest Financial crisis News
Wall Street's rally takes a pause; indexes close to flat
Stocks are flipping between small gains and losses in midday trading on Wall Street Thursday, as Wall Street's remarkable rally takes a pause. The S&P 500 was down 0.2%, as of noon Eastern time, after earlier being on track for its first five-day winning streak since December. The index is about 8% below its...
Ethiopian domestic workers stranded in crisis-hit Lebanon
BEIRUT (AP) — Dozens of domestic workers gathered outside the Ethiopian Consulate in Beirut on Thursday, some inquiring about flights home, others stranded after they were abandoned by employers who claimed they could no longer afford to pay their salaries. About 180,000 domestic workers in Lebanon, most...
1.9 million seek jobless aid even as reopenings slow layoffs
WASHINGTON (AP) — Nearly 1.9 million people applied for U.S. unemployment benefits last week, evidence that many employers are still cutting jobs even as the gradual reopening of businesses has slowed the pace of layoffs. The total number of people who are receiving jobless aid rose slightly to 21.5...
European Central Bank nearly doubles pandemic support scheme
FRANKFURT, Germany (AP) — The European Central Bank has boosted its pandemic emergency support program by an unexpectedly large 600 billion euros to 1.35 trillion euros ($1.5 trillion), adding to a range of efforts in Europe and around the world to help the economy weather the steep downturn caused by the...
Orlando church donates $500,000 to nonprofits hit by COVID
ORLANDO, Fla. (AP) — Orlando's First Presbyterian Church has made a donation of over $500,000 to Central Florida's nonprofits to help ease some of the economic devastation caused by the coronavirus. The church pooled money from from virtual collection plates, and used leftover funds from a capital...
Biden to focus on economic plans, inequality in weeks ahead
WASHINGTON (AP) — Joe Biden is pledging to unveil a series of proposals in coming weeks aimed at reversing the economic devastation wrought by the coronavirus pandemic and addressing inequalities that have contributed to protests sweeping the country. The presumptive Democratic presidential nominee and his...
Wyoming lawmakers consider $7.5M in funding to reclaim wells
CASPER, Wyo. (AP) — Wyoming lawmakers are considering a $7.5 million proposal for oil and gas reclamation efforts to spark economic development following the collapse of oil markets related to the coronavirus. The Legislature's Joint Interim Minerals, Business and Economic Development Committee proposed...
Virus forges rare accord among bitter Venezuelan rivals
CARACAS, Venezuela (AP) — President Nicolás Maduro and Venezuela's opposition, led by Juan Guaidó, have agreed to a measures for battling the new coronavirus to be overseen by international health workers, a first step in years toward cooperation between bitter political rivals for the benefit of...
Pandemic brings 1st Australian recession in 29 years
CANBERRA, Australia (AP) — The coronavirus pandemic pushed Australia’s economy into recession for the first time in 29 years in the first quarter of the year, and the situation is expected to get worse. Treasurer Josh Frydenberg said Wednesday the current June quarter will be the second in a row in...
Layoffs, few seasonal workers at Oregon State Parks
PORTLAND, Ore. (AP) — Oregon’s state parks have started to reopen, but the agency that manages them is is facing an estimated $22 million budget shortfall between now and next June amid the economic collapse caused by the coronavirus pandemic. The Oregon Parks and Recreation Department said Tuesday...
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