Economy

  • More Than A Century Old Hertz Filed For Bankruptcy
    More_than_a_century_old_hertz_filed_for_bankruptcy 2020-05-23 16:59:28 UTC
    <p>NEW YORK (Reuters) - The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much needed relief.</p><p>Hertz&rsquo;s board earli...

  • COVID-19 Triggered 15% Unemployment in US
    Covid-19_triggered_15__unemployment_in_us 2020-05-08 17:55:16 UTC
    <p>WASHINGTON (AP) &mdash; The U.S. unemployment rate rocketed to 14.7% in April, a level last seen during the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record &mdash; stark evidence of how the coronavirus has brought the economy to its knees.</p><p>The breathta...

  • A New Coronavirus Vaccine Works in Monkeys
    A_new_coronavirus_vaccine_works_in_monkeys 2020-05-06 21:33:19 UTC
    REUTERS — In macaque monkeys, an experimental vaccine for the novel coronavirus safely induced antibodies that blocked several different SARS-CoV-2 strains, Chinese researchers reported on Wednesday in the journal Science. The researchers say tests of their vaccine candidate, "PiCoVacc," in human...

  • US-UK Trade Talks at Risk With No-Deal Brexit
    Us-uk_trade_talks_at_risk_with_no-deal_brexit 2020-05-05 01:13:57 UTC
    WASHINGTON (Reuters) - The top U.S. business lobby on Monday urged Britain to conclude a bilateral trade deal with the European Union as quickly as possible to remove uncertainty that is limiting investment flows and could pose risks to its trade talks with the United States. The Chamber of C...

  • EU: Germany's Financial Aid Can Be Locomotive for Europe
    Germany_financial_aid_can_be_locomotive_for_europe_-_angela_merkel 2020-05-04 19:30:26 UTC
    BRUSSELS (Reuters) — Germany’s extensive bailouts of coronavirus-hit companies can work as a locomotive for Europe, the EU’s competition chief said on Monday amid criticism from other, less wealthy EU countries about what they see as an unfair edge given to German firms. To date, a whopping 52...

  • UK's Small Business Loans Begin Today
    Uk's_small_business_loans_begin_today 2020-05-03 23:56:19 UTC
    LONDON (Reuters) - A government-backed loan scheme to help Britain’s small businesses survive the coronavirus lockdown comes into effect on Monday, allowing firms such as hairdressing salons, coffee shops and florists to receive emergency cash. Finance minister Rishi Sunak, who previously opp...

  • COVID-19: Germany Pushes Green Deal to Cut EU Net Emissions to Zero
    Covid-19-_germany_pushes_green_deal_to_cut_eu_net_emissions_to_zero 2020-04-28 18:33:38 UTC
    BERLIN (Reuters) - Governments should focus on climate protection when considering fiscal stimulus packages to support an economic recovery from the coronavirus pandemic, German Chancellor Angela Merkel said on Tuesday. Her comments are the clearest sign yet that Merkel wants to combine the ta...

  • Impasse: No Progress in Brexit Talks
    Impasse-_no_progress_in_brexit_talks 2020-04-28 13:22:21 UTC
    BRUSSELS (Reuters) - Negotiations between the European Union (EU) and ex-member Britain over new trade arrangements from next year are at an impasse due to disagreements and the coronavirus crisis, according to diplomats and officials in the bloc’s hub Brussels. Halted when the epidemic starte...

  • European Carmakers Reopening Plants as COVID-19 Lockdown Eases
    European_carmakers_reopening_plants_as_covid-19_lockdown_eases 2020-04-27 18:58:17 UTC
    FRANKFURT (Reuters) - German carmaking giant Volkswagen resumed production at its biggest factory on Monday as part of a broader industry drive to get back to work in Europe, where the coronavirus pandemic has hammered demand and pushed up inventory levels. Encouraged by a fall in infection ra...

  • COVID-19: U.S. Expects Flood of Business Bankruptcies
    Covid-19-_u.s._expects_flood_of_business_bankruptcies 2020-04-27 01:48:54 UTC
    NEW YORK (AP) — The billions of dollars in coronavirus relief targeted at small businesses may not prevent many of them from ending up in bankruptcy court. Business filings under Chapter 11 of the federal bankruptcy law rose sharply in March, and attorneys who work with struggling companies ar...

  • Irish PM: Charging Google, Facebook for Media Content Is 'A Good Idea'
    Leo_varadkar 2020-04-26 07:11:05 UTC
    DUBLIN (Reuters) - The Irish government should consider copying Australia’s plan to force Facebook Inc (FB.O) and Alphabet Inc’s (GOOGL.O) Google to share advertising revenue with local media, Prime Minister Leo Varadkar said on Friday. Companies like Google, Facebook and Twitter “are sort of ...

  • U.S. Crude Oil Crashes Below $0
    U.s._crude_crashes_below__0 2020-04-20 21:51:34 UTC
    NEW YORK (AP) — Oil futures plunged below zero on Monday, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic. Stocks and Treasury yields also dropped on Wall Street, with the S&P 500 down 1.8%, but the market’s most dramatic action by far w...

  • New COVID-19 Forecasts for Asia: Singapore Reports 942 New Cases
    New_covid-19_forecasts_for_asia-_singapore_reports_942_new_cases 2020-04-18 13:52:37 UTC
    BANGKOK (AP) — Singapore reported 942 new coronavirus cases on Saturday, a single-day high for the tiny city-state that pushed its total number of infections to 5,992, including 11 deaths. The number of cases in Singapore has more than doubled over the past week amid an explosion of infections...

  • Germany's Unemployment Rate Stays Low Despite COVID-19
    Germany's_unemployment_rate_stays_low_despite_covid-19 2020-04-16 21:19:06 UTC
    BERLIN — Governments around the world have been fighting two battles against COVID-19, one of public health and one in the economic area. Once measures were taken to protect public health with lockdowns and stringent social distancing regulations, other measures were immediately needed to mitigat...

  • UK Economy Will Suffer Devastating Consequences of COVID 19
    Uk_economy_will_suffer_devastating_consequences_of_covid_19 2020-04-14 19:37:59 UTC
    LONDON (Reuters) - Britain’s economy could shrink by 13% this year due to the government’s coronavirus shutdown, its deepest recession in three centuries, and public borrowing is set to surge to a post-World War Two high, the country’s budget forecasters said. In the April-June period alone, e...

  • Bank of England Allows UK Government To Run Up An Unlimited Overdraft
    Bank_of_england_allows_uk_government_to_run_up_an_unlimited_overdraft 2020-04-10 14:33:45 UTC
    LONDON (Reuters) - In London, the Bank of England said it would allow Britain’s government to run up an unlimited overdraft as the state promises to pay wages to millions of people laid off during shutdown, cut taxes for businesses and expand its welfare system. With central banks around the ...

  • Global Economy Heading Into Deepest Recession Since 1929
    Imf-_economy_has_entered_recession__worse_than_2008_downturn 2020-04-09 21:43:41 UTC
    WASHINGTON (AP) — The coronavirus pandemic will push the global economy into the deepest recession since the Great Depression, with the world’s poorest countries suffering the most, the head of the International Monetary Fund said Thursday. “We anticipate the worst economic fallout since the G...

  • Economist: “The U.S. Labor Market Is In Free-Fall”
    Economist-_%e2%80%9cthe_u.s._labor_market_is_in_free-fall%e2%80%9d_ 2020-04-02 05:32:09 UTC
    <p>WASHINGTON (Reuters) - The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.&nbsp...

  • A Guide to Surviving Financially as Bills Come Due
    A_guide_to_surviving_financially_as_bills_come_due 2020-04-01 22:06:24 UTC
    <p>The coronavirus has dealt a financial blow to millions of Americans and now April&rsquo;s bills are coming due.</p><p>The good news is there is help available. Reach out immediately to your mortgage lender, student loan servicer or utility provider to see what&rsquo;s available. Other assistan...

  • Markets Fall Sharply as Coronavirus Outbreak Worsens
    Markets_fall_sharply_as_coronavirus_outbreak_worsens 2020-04-01 21:41:27 UTC
    <p>NEW YORK (AP) &mdash; Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts &mdash; and as experts say they still can&rsquo;t predict when it will end.</p><p>The S&amp;P 500 lost 4.4% after the White House sa...

  • WHO IS ELIGIBLE FOR THE GOVERNMENT STIMULUS CHECK? HERE ARE THE ANSWERS:
    Who_is_eligible_for_the_government_stimulus_check__here_are_the_answers 2020-04-01 22:00:10 UTC
    The IRS and the Treasury Department say Americans will start receiving their economic impact checks in the next three weeks. The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus...

  • Brexit: EU, UK Negotiate Future Relationship
    Brexit-_eu__uk_negotiate_future_relationship 2020-03-30 19:12:36 UTC
    LONDON (Reuters) - British and EU officials are holding informal talks on the future relationship, a spokesman for Prime Minister Boris Johnson said on Monday, repeating that Britain is still working towards the end of this year to end a transition period “The transition period ends on the 31...

  • IMF: Global Economy Has Entered Recession, Worse Than 2008 Downturn
    Imf-_economy_has_entered_recession__worse_than_2008_downturn 2020-03-27 23:26:50 UTC
    WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recove...

  • 3.3 Million Americans Filed for Unemployment Aid in A Single Week
    3.3_million_americans_filed_for_unemployment_aid_in_a_single_week 2020-03-27 00:45:33 UTC
    WASHINGTON (AP) — Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus. The surge in weekly applications was a stunning reflection of the damage the viral out...

  • U.S. Auto Sales Plummet 80 Percent
    U.s._auto_sales_plummet_80_percent 2020-03-26 04:24:17 UTC
    (Reuters) - Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of the coronavirus will drop 80% or more, analysts said on Wednesday. Auto retail sales through the week of March 22 declined 22% nationwide on a yearly basis and as much as 40% in some cities on the ...