Latest Fiscal policy News

German Chancellor Angela Merkel, left, and Italian Prime Minister Guiseppe Conte, right, talk prior to a meeting at the German government's guest house 'Meseberg' in Gransee, north of Berlin, Germany, Monday, July 13, 2020. (Tobias Schwarz/Pool Photo via AP)

Merkel: 2nd summit may be needed to forge EU stimulus deal

Jul. 13, 2020 2:39 PM EDT

BERLIN (AP) — “Bridges still need to be built” between European Union countries at odds over plans for a massive stimulus package to help the bloc's economies recover from the coronavirus pandemic, German Chancellor Angela Merkel said Monday, warning that if a summit this week doesn't result...

Prime Minister Justin Trudeau arrives for a news conference on the COVID-19 pandemic outside his residence at Rideau Cottage in Ottawa, Thursday, June 18, 2020. (Justin Tang/The Canadian Press via AP)

Canada predicts historic deficit due to pandemic spending

Jul. 8, 2020 4:41 PM EDT

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...

British Chancellor of the Exchequer Rishi Sunak leaves number 11 Downing Street, to deliver a financial announcement to the Houses of Parliament in London, Wednesday, July 8, 2020. British Treasury chief Rishi Sunak on Wednesday is set to announce a 2-billion-pound ($2.5 billion) program to create jobs for young people as the government tries to revive an economy battered by the COVID-19 pandemic. (AP Photo/Matt Dunham)

UK gets creative: Job bonus and eating out schemes announced

Jul. 8, 2020 1:46 PM EDT

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...

The red ball of the sun sets behind the towers of the Lippendorf power plant, in Neukieritzsch south of Leipzig, Germany, Friday, June 26, 2020. (Hendrik Schmidt/dpa via AP)

German production rebounds in May, but misses expectations

Jul. 7, 2020 5:40 AM EDT

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%...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, July 7, 2020. Asian shares were mixed Tuesday, as some benchmarks were buoyed by an ongoing worldwide rally as investors bet on a dramatic economic turnaround amid ongoing challenges of the coronavirus outbreak. (AP Photo/Vincent Yu)

Asia markets slip as virus outbreaks mute hopes for rebound

Jul. 7, 2020 12:42 AM EDT

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

Jul. 6, 2020 2:26 AM EDT

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...

FILE - In this Friday, April 17, 2020 file photo, a health worker arrives to take a nose swab sample as part of testing for the COVID-19 coronavirus at a nursing and rehabilitation facility in Seattle. Nursing home residents are among the Americans getting $1,200 checks as part of the U.S. government’s plan to revive the economy in 2020. But with many long-term care facilities under lockdown to prevent COVID-19 outbreaks, what are the rules around how the money is handled? (AP Photo/Ted S. Warren)

Stimulus money could pose dilemmas in nursing homes

Jul. 4, 2020 9:31 AM EDT

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...

Outgoing French Prime Minister Edouard Philippe, left, applauds newly named Prime Minister Jean Castex, after the handover ceremony in Paris, Friday, July 3, 2020. French President Emmanuel Macron on Friday named Jean Castex, who coordinated France's virus reopening strategy, as the country's new prime minister as the country focuses on reviving an economy hard-hit by the pandemic and months of strict lockdown. (Thomas Samson, Pool via AP)

Reopening strategist Castex named new French prime minister

Jul. 3, 2020 1:26 PM EDT

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...

Democratic presidential candidate, former Vice President Joe Biden speaks at Alexis Dupont High School in Wilmington, Del., Tuesday, June 30, 2020. (AP Photo/Patrick Semansky)

US jobs surge: Trump sees sunshine, Biden 'no victory yet'

Jul. 3, 2020 6:05 AM EDT

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...

President Donald Trump swings a baseball bat during the Spirit of America Showcase at the White House, Thursday, July 2, 2020, in Washington. (AP Photo/Evan Vucci)

US jobs surge: Trump sees sunshine, Biden 'no victory yet'

Jul. 2, 2020 11:45 PM EDT

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...