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...
U.S. Crude Oil 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...
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...
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 ...
Markets Fall Sharply as Coronavirus Outbreak Worsens
2020-04-01 21:41:27 UTC
<p>NEW YORK (AP) — Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts — and as experts say they still can’t predict when it will end.</p><p>The S&P 500 lost 4.4% after the White House sa...
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 ...
Asian Markets Opened Sharply Higher
2020-03-25 03:14:56 UTC
NEW YORK (AP) — Shares opened sharply higher in Asia on Wednesday after the Dow Jones Industrial Average surged to its best day since 1933 with Congress and the White House nearing a deal on injecting nearly $2 trillion of aid into an economy ravaged by the coronavirus.
Japan’s Nikkei 225 inde...
Dow Ends Week With a 17.3% Loss
2020-03-21 00:53:35 UTC
<p>Wall Street ended the week the same way it began: in full retreat from the coronavirus.</p><p>Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of th...
Dow Erases All Its Gains Since Trump’s Inauguration
2020-03-18 23:34:43 UTC
NEW YORK (AP) — Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to ra...
U.S. Seeks $850B Economic Stimulus Amid Coronavirus Crisis
2020-03-17 15:37:45 UTC
<p>WASHINGTON (AP) — The White House was asking Congress on Tuesday to approve a sweeping emergency stimulus package to help businesses and taxpayers cope with the economic fallout of the coronavirus pandemic. It’s the most far-reaching economic rescue package since the Great Recessio...
Global Stocks Fall Sharply as Virus Cases Spread Around the World
2020-03-16 20:33:23 UTC
NEW YORK (AP) — Stocks fell sharply around the world Monday as the coronavirus forced huge swaths of the economy to the edge of a standstill, from parked airplanes to the nearly empty restaurant around the corner.
The Dow industrials took a 2,999-point nosedive on Monday as fears deepen that ...
Global Shares Plunge: Worst Day Since '87
2020-03-13 02:06:33 UTC
<p>NEW YORK (AP) — Shares have plunged in Asia, with Japan’s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. </p><p>Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the mel...
Bear Market: Dow dives more than 1,400 points
2020-03-11 20:19:29 UTC
<p>NEW YORK (AP) — Stocks are closing sharply lower on Wall Street, erasing more than 1,400 points from the Dow industrials, as investors wait for a more aggressive response from the U.S. government to economic fallout from the coronavirus. The Dow has now fallen 20% from its recent high, a...
Stocks Rise in Turbulent Trading a Day After Selloff
2020-03-10 19:47:33 UTC
NEW YORK (AP) — Wall Street endured another day of dizzying trading Tuesday, whipping up and down with hopes that the U.S. and other governments will cushion the economy from the pain of the coronavirus.
The S&P 500 surged as much as 3.7% in the morning and recouped nearly half its historic dr...
You Don't Need a 20% Down Payment to Buy a Home in US
2020-03-10 19:48:35 UTC
Many Americans may be unnecessarily talking themselves out of homeownership. Thirty-seven percent of non-homeowners say not having enough saved for a down payment is holding them back from homeownership, but 62% of Americans incorrectly believe you have to have at least 20% of a home’s purchase p...
Black Monday: Shock To Oil Also Rattled Stock Markets
2020-03-09 14:09:42 UTC
NEW YORK (AP) — Fear gripped financial markets around the world Monday as stock prices and bond yields plunge on worries about the effects of a new coronavirus.
The most violent drops came from the oil markets, where prices cratered more than 20%. But moves in stocks and bond yields were near...
Coronavirus Fuels Dramatic Fall in Oil Price
2020-03-09 01:49:08 UTC
<p>NEW YORK (AP) — Oil prices are plunging as a dispute among producers could lead a global economy weakened by COVID-19 to be awash in an oversupply of crude.</p><p>Brent crude, the international standard, lost $9.50, or 20.1%, to $35.77 per barrel, as of 7:58 p.m. Eastern time on Sunday a...
Nothing Can Pull Markets Out From Undertow
2020-03-06 20:41:47 UTC
<p>NEW YORK (AP) — Stocks kept falling Friday, and bond yields took more breathtaking drops as a brutal, dizzying couple weeks of trading showed no sign of letting up. </p><p>Even a better-than-expected <a href="https://apnews.com/1d187742ff0d4a44bf235fd00c665fb7">report on U.S. jobs</...
Dow Jones Falls Nearly 1,200 Points
2020-02-27 21:12:47 UTC
The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havov on the global economy. Bond prices soared again as investors sought safe places to park money, sending the yield on the 10-y...
US, Germany Controlled Swiss Company for Decades to Spy on Countries
2020-02-11 21:53:45 UTC
The CIA and Germany's intelligence agency secretly owned a Swiss company used by governments to send encrypted communications for decades, according to a report published Tuesday.
Crypto AG was used by U.S. allies and adversaries, including more than 120 countries. Among Crypto's clients were ...
New 25% Tariffs on EU Food Will Lead to Higher Prices, Cost American Jobs
2019-10-04 00:39:52 UTC
WASHINGTON (Reuters) - New 25% U.S. tariffs on Italian cheese, French wine, Scotch whisky, British biscuits, Spanish olives and thousands of other European food products will lead to higher prices ahead of the holiday season and cost American jobs, trade groups said on Thursday.
The U.S. Trade...
Weak US Economic Data Weighs on Global Market
2019-10-03 16:56:45 UTC
NEW YORK (Reuters) - Weaker-than-expected U.S. economic data weighed on global financial markets on Thursday, leaving world equity benchmarks bouncing in choppy trading and sending investors into safe-haven assets on expectations of further Federal Reserve interest rate cuts.
The drop in the c...
Recession Fears Escalate
2019-08-14 19:02:04 UTC
NEW YORK (Reuters) - Wall Street stumbled on Wednesday as investors fled equities for safe-haven assets, seeking shelter amid gathering signs that a recession could be on the horizon.
All three major U.S. indexes were sharply lower as short- and long-dated Treasury yields inverted for the firs...
Mexico to Provide 40,000 Jobs to Migrants
2019-06-28 18:19:59 UTC
MEXICO CITY (Reuters) - Mexico is finalizing a deal to provide 40,000 factory jobs to migrants in northern states, President Andres Manuel Lopez Obrador said Friday, addressing a key need for the thousands waiting in Mexico as their U.S. asylum cases are decided.
Speaking at his daily press co...
Euro Hits Three-Month High Against US Dollar
2019-06-24 04:00:44 UTC
TOKYO (Reuters) - The euro rose to a three-month high against the dollar on Monday, as bearish bets on the U.S. currency remained solid on prospects of a near-term interest rate cut by the Federal Reserve.
The euro stretched its rally last week, up 1.4%, and advanced about 0.15% to $1.1386 in ...