EU: Germany's Financial Aid Can Be Locomotive for Europe
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
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...
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 ...
EU Countries Agree to $550 Billion in Economic Support
2020-04-10 14:32:55 UTC
BRUSSELS (Reuters) - European Union finance ministers agreed on Thursday on half-a-trillion euros ($550-Billion) worth of support for their coronavirus-battered economies but left open the question of how to finance recovery in the bloc headed for a steep recession.
The agreement was reached a...
Trump's Economic Nationalism Will Not Save The US Economy From Collapse
2020-04-09 17:07:02 UTC
BALTIMORE (AP) — President Donald Trump has been telling voters that the U.S. economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus.
But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will ...
Trump Removes $2 Trillion Coronavirus Spending Watchdog
2020-04-07 22:59:07 UTC
WASHINGTON (AP) — President Donald Trump has removed the inspector general tapped to chair a special oversight board for the $2.2 trillion economic relief package on the coronavirus, the latest in a series of steps Trump has taken to confront government watchdogs tasked with oversight of the exec...
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’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’s available. Other assistan...
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...
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...
IMF: Global 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
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...
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...
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...
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</...
EU Parliament Gives Final Approval to Brexit Deal
2020-01-29 18:07:08 UTC
BRUSSELS (Reuters) - The European Parliament on Wednesday gave its final approval to Britain’s divorce deal from the bloc, paving the way for Brexit to take place on Friday.
The chamber broke into singing Auld Lang Syne, a traditional Scottish song to bid farewell, after voting 621 for versus ...
France, Germany to Sign Arms Exports Pact
2019-09-20 01:36:58 UTC
PARIS (Reuters) - France and Germany said on Thursday they were close to an agreement on how to remove obstacles to exporting weapons manufactured in joint programs, after French firms called for easing German export restrictions.
German curbs on arms exports to non-European Union or non-NATO ...
US, UK Seek Quick Post-Brexit Trade Deal
2019-08-13 18:20:56 UTC
LONDON (Reuters) - Britain and the United States are discussing a partial trade accord that could take effect on Nov. 1, the day after Britain is due to leave the European Union, a senior Trump administration official said on Tuesday.
The official also said visiting U.S. national security advi...
US will "Enthusiastically Support a No-Deal Brexit"
2019-08-12 19:04:58 UTC
LONDON (Reuters) - The United States would enthusiastically support a no-deal Brexit if that is what the British government decided to do, U.S. national security adviser John Bolton said on Monday during a visit to London aimed at reassuring Britain over UK-U.S. ties.
Bolton told British Prime...
No-Deal Brexit Would Cause Severe Damage to UK
2019-07-29 03:42:16 UTC
A no-deal Brexit would cause “severe” damage to UK businesses, according to the Confederation of British Industry (CBI).
Carolyn Fairbairn, director general of the lobby group, told BBC that quitting the EU without an agreement should be an option “that is not even considered”. Claims that fir...
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 ...
US Weekly Jobless Claims Rise; Imported Inflation Weak
2019-06-13 18:19:18 UTC
WASHINGTON (Reuters) - The number of Americans filing applications for unemployment benefits unexpectedly rose last week, which could add to concerns that the labor market was losing steam after job growth slowed sharply in May.
Other data on Thursday showed import prices fell by the most in f...
UK’s Johnson Threatens to Withhold $50 Billion Brexit Payment
2019-06-09 01:46:56 UTC
(Reuters) - Boris Johnson, the leading candidate to succeed Theresa May as Britain’s next prime minister, said he would withhold a previously agreed 39 billion pound ($50 billion) Brexit payment until the European Union gives Britain better exit terms.
The EU has repeatedly said it will not re...
EU to Create a System to Get Around US Block on WTO
2019-06-06 20:49:33 UTC
BERLIN/GENEVA (Reuters) - The European Union is set to propose creating a shadow system to get around a U.S. block on appeals in disputes at the World Trade Organization (WTO), according to a draft proposal circulated to national lawmakers.
U.S. President Donald Trump is blocking appointments ...
Still Unclear How, When or If UK Will Ever Indeed Quit EU
2019-04-02 20:57:13 UTC
LONDON (Reuters) - Prime Minister Theresa May said on Tuesday she would seek another Brexit delay to agree an EU divorce deal with the opposition Labour leader, a last-ditch gambit to break an impasse over Britain’s departure that enraged many in her party.
Nearly three years since the United ...
Brexit: EU Prepares For a 'No-Deal' Scenario
2019-03-29 20:39:59 UTC
Theresa May's exit deal failed by 58 votes, and April 12 beckons as a new exit date for the UK out of the EU. More indicative votes are on the table, as the EU prepares for a 'no-deal' scenario.
LONDON (Reuters) - Lawmakers rejected Prime Minister Theresa May’s Brexit deal for a third time on ...