Latest Economic stimulus News
Canada predicts historic deficit due to pandemic spending
OTTAWA (AP) — The Canadian government is predicting a historic CDN$343 billion (US$254 billion) deficit for 2020-21 resulting from its economic and stimulus plans to battle COVID-19. The amount, included in a fiscal “snapshot” the Liberal government released Wednesday, is a huge jump from the...
UK gets creative: Job bonus and eating out schemes announced
LONDON (AP) — The British government unveiled a raft of measures Wednesday it hopes will limit an anticipated spike in unemployment as a result of the coronavirus pandemic. Most noteworthy were a new bonus plan aimed at getting firms to retain workers that have been idle for months, as well as tax cuts for...
German production rebounds in May, but misses expectations
BERLIN (AP) — German industrial production picked up in May after dropping sharply in the two previous months, but the rebound fell short of expectations. Production was up 7.8% compared with the previous month, the Economy Ministry said Tuesday. That followed declines of 8.9% in March and a massive 17.5%...
Asia markets slip as virus outbreaks mute hopes for rebound
TOKYO (AP) — Markets were mostly lower in Asia on Tuesday as expanding coronavirus outbreaks dimmed hopes for a global recovery, despite an overnight rally in tech shares that pushed the Nasdaq composite to another record high. Japan's benchmark Nikkei 225 dropped 0.6% to 22,577.65 and South Korea's Kospi...
German factory orders rise in May after 2 huge declines
BERLIN (AP) — German factory orders recovered some ground in May, rising 10.4% compared with the previous month after huge drops in March and April at the height of Europe's coronavirus crisis. The figure reported Monday by the Economy Ministry followed declines of 15% in March and 26.2% in April. The...
Stimulus money could pose dilemmas in nursing homes
NEW YORK (AP) — Nursing home residents are among the Americans getting $1,200 checks as part of the U.S. government’s plan to revive the economy. But with many long-term care facilities under lockdown to prevent COVID-19 outbreaks, what are the rules around how the money is handled? The situation...
Reopening strategist Castex named new French prime minister
PARIS (AP) — The new French prime minister appointed Friday said he feels ready to face the key challenge of reviving France's economy following the damage caused by the coronavirus pandemic and a two-month nationwide lockdown. The relatively low-profile Jean Castex, who coordinated France’s virus...
US jobs surge: Trump sees sunshine, Biden 'no victory yet'
NEW YORK (AP) — The U.S. economy just posted its best single-month job gain in history. U.S. unemployment is at one of its worst points since the Great Depression. Both are true. As Republicans and Democrats fought to spin Thursday's jobs numbers to their advantage, both sides face tremendous political...
US jobs surge: Trump sees sunshine, Biden 'no victory yet'
NEW YORK (AP) — The U.S. economy just posted its best single-month job gain in history. U.S. unemployment is at one of its worst points since the Great Depression. Both are true. As Republicans and Democrats fought to spin Thursday's jobs numbers to their advantage, both sides face tremendous political...
The Latest: South Korea worries as virus resurgence spreads
SEOUL, South Korea — South Korea says it has confirmed 54 more COVID-19 cases as the coronavirus continues to spread beyond the capital region and reach cities like Gwangju, which has shut schools and tightened social restrictions after dozens fell sick this week. The figures reported Thursday brought the...
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