Banking and credit

FILE - In this Wednesday, March 25, 2020 file photo, American Airlines jets sit idly at their gates as a jet arrives at Sky Harbor International Airport in Phoenix. The Trump administration is raising the possibility of the U.S. government getting ownership stakes in U.S. airlines in exchange for $25 billion in direct grants to help the carriers survive a downturn caused by the coronavirus pandemic, according to people familiar with the matter, Thursday, March 26, 2020. (AP Photo/Matt York, File)
AP News
March 27, 2020 - 8:55 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus. ____ UNDER REVIEW: This week, the U.S. reported that a staggering 3.3 million Americans...
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FILE - In this Feb. 14, 2020 file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said Friday, March 27, it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. She said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage(AP Photo/Jens Meyer, File)
AP News
March 27, 2020 - 3:54 pm
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 recovery in...
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In this photo released by Saudi Press Agency, SPA, Saudi King Salman, chairs a video call of world leaders from the Group of 20 and other international bodies and organizations, from his office in Riyadh, Saudi Arabia, Thursday, March 26, 2020. The meeting is aimed at coordinating the global response to the fast-spreading coronavirus, which has shuttered businesses and forced well over a quarter of the world's population into home isolation. (Saudi Press Agency via AP)
AP News
March 26, 2020 - 2:25 pm
DUBAI, United Arab Emirates (AP) — The head of the United Nations told leaders of the world’s 20 major industrialized nations during an emergency virtual summit Thursday that "we are at war with a virus – and not winning it” despite dramatic measures by countries to seal their borders, shutter...
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A staff member carries plastic buckets containing medical waste from new coronavirus patients at the Dongsan Hospital in Daegu, South Korea, Wednesday, March 25, 2020. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (Park Dong-joon/Yonhap via AP)
March 26, 2020 - 1:03 am
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — South Korea’s central bank to temporarily...
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In this photo released by Xinhua News Agency, workers labor at an assembly line for Dongfeng Passenger Vehicle Company in Wuhan, in central China's Hubei Province, March 24, 2020. While many migrant workers across China remain trapped by travel bans due to the coronavirus, some industrial production has returned to action, including in the crucial auto manufacturing industry, which is largely based in Wuhan, and in businesses that provide critical links in global supply chains. (Xiao Yijiu/Xinhua via AP)
March 25, 2020 - 7:12 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed as it continues to spread across the world. Here is a look at some of the latest developments Wednesday related to the global economy, particular economic sectors, and the workplace: HOUSING: Economists...
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A person wearing protective masks due to coronavirus fears walks past a boarded up business in Philadelphia, Tuesday, March 24, 2020. (AP Photo/Matt Rourke)
March 24, 2020 - 8:32 pm
The rapid spread of the coronavirus since it was first reported in China has dealt an unprecedented shock to the global economy. Here's a look at developments Tuesday as central banks, businesses and workers attempt to navigate a global outbreak that has brought economic activity to a standstill...
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A person wearing protective masks due to coronavirus fears walks past a boarded up business in Philadelphia, Tuesday, March 24, 2020. (AP Photo/Matt Rourke)
March 24, 2020 - 7:17 pm
The rapid spread of the coronavirus since it was first reported in China has dealt an unprecedented shock to the global economy. Here's a look at developments Tuesday as central banks, businesses and workers attempt to navigate a global outbreak that has brought economic activity to a standstill...
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FILE - In this Monday, March 16, 2020, file photo, pedestrian traffic is light along Wall Street in Lower Manhattan in New York. The banking system is not as risk of failing as banks have plenty of capital on hand to handle this crisis due to the new coronavirus, economists say. (AP Photo/Craig Ruttle, File)
March 24, 2020 - 2:44 pm
NEW YORK (AP) — Tarred as villains during the 2008 financial meltdown, banks of all sizes are trying to help out Americans reeling from the economic crisis caused by the coronavirus outbreak. Banks are scrambling to put into place loan forgiveness and relief programs, working to keep their...
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FILE - In this Saturday, March 21, 2020 file photo, a lone pedestrian wearing a protective mask walks past the New York Stock Exchange as coronavirus concerns empty a typically bustling downtown area in New York. Stocks around the world swung lower Monday, March 23 even after the Federal Reserve announced a tidal wave of support for lending markets, going way beyond the “bazooka” it had already unloaded. (AP Photo/John Minchillo, File)
March 23, 2020 - 4:04 pm
NEW YORK (AP) — Stocks are ending another bumpy day broadly lower on Wall Street as investors wait to see if Democrats and Republicans can settle their differences on an economic rescue package. Major indexes ended down about 3% Monday, having been down as much as 5%. Earlier, markets got a bump...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference in Washington. The Federal Reserve says it will buy short-term loans from banks and companies to support the flow of credit as the economy grinds to a halt amid the viral outbreak. The Fed is reviving a program that it first used during the 2008 financial crisis to unclog a short-term lending market for what is known as “commercial paper.” (AP Photo/Jacquelyn Martin, File)
March 23, 2020 - 10:44 am
WASHINGTON (AP) — In its boldest effort to protect the U.S. economy from the coronavirus, the Federal Reserve says it will buy as much government debt as it deems necessary and will also begin lending to small and large businesses and local governments to help them weather the crisis. The Fed's...
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