Economy

July 08, 2020 - 10:05 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus. ________________________ TRAVEL: Choice Hotels is confident that its...
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FILE - In this Wednesday, March 11, 2020 file photo, Britain's Chancellor of the Exchequer Rishi Sunak stands outside No 11 Downing Street and holds up the traditional red box that contains the budget speech for the media, he will then leave to make budget speech to House of Commons, in London. 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/Kirsty Wigglesworth, File)
July 08, 2020 - 3:54 am
LONDON (AP) — 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. Announcement of the funding, which will create government-...
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FILE - In this May 15, 2020, file photo, Brazil's President Jair Bolsonaro wears a mask amid the COVID-19 pandemic during an event at Planalto presidential palace in Brasilia, Brazil. Bolsonaro said Tuesday, July 7, he tested positive for COVID-19 after months of downplaying the virus’s severity while deaths mounted rapidly inside the country. (AP Photo/Eraldo Peres, File)
July 08, 2020 - 12:00 am
SAO PAULO (AP) — Brazilian President Jair Bolsonaro for months flirted with the new coronavirus as he flouted social distancing at lively demonstrations and encouraged crowds during outings from the presidential residence, often without a mask. He has at times downplayed the risk posed by COVID-19...
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FILE - In this March 12, 2020, file photo, specialist Meric Greenbaum, center, works with traders on the floor of the New York Stock Exchange. U.S. stocks are dipping modestly in early trading Tuesday, July 7, 2020, as expanding coronavirus outbreaks dim hopes for a speedy recovery. (AP Photo/Richard Drew, File)
July 07, 2020 - 11:02 pm
TOKYO (AP) — Shares were mixed in Asia on Wednesday as uncertainty over the pandemic sapped the buying enthusiasm that has been driving prices higher. The selling followed a deeper pullback on Wall Street and in France, Germany and elsewhere after the European Union’s executive arm said this year’s...
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FILE - In this April 5, 2020 file photo, Mexican President Andres Manuel Lopez Obrador speaks at the National Palace in Mexico City. For his first foreign trip as president, López Obrador travels to Washington Tuesday, July 7, 2020 to meet with President Donald Trump. (AP Photo/Eduardo Verdugo, File)
July 07, 2020 - 10:26 pm
MEXICO CITY (AP) — For his first foreign trip as president, Mexico’s Andrés Manuel López Obrador travels to Washington Tuesday to meet with President Donald Trump, who has repeatedly taken shots at Mexico and Mexican migrants to rally his base. The visit, coming just four months before U.S...
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Senate Majority Leader Mitch McConnell, R-Ky., listens to questions during a news conference following a GOP policy meeting on Capitol Hill, Tuesday, June 30, 2020, in Washington. (AP Photo/Manuel Balce Ceneta)
July 07, 2020 - 8:26 pm
WASHINGTON (AP) — An eviction moratorium is lifting. Extra unemployment benefits are ending. Parents are being called to work, but schools are struggling to reopen for fall as the COVID-19 crisis shows no signs of easing. With Congress bracing for the next coronavirus aid package, Senate Majority...
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FILE - In this May 21, 2020 file photo, a man looks at signs of a closed store due to COVID-19 in Niles, Ill. U.S. layoffs surged in April revealing the deep economic hole that comes with shuttered offices, restaurants, stores and schools. (AP Photo/Nam Y. Huh, File)
July 07, 2020 - 10:57 am
WASHINGTON (AP) — The job market took a big step toward healing in May, though plenty of damage remains, as a record level of hiring followed record layoffs in March and April. The Labor Department reported Tuesday that the number of available jobs rose sharply as well, but remained far below pre-...
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Turkey's Foreign Minister Mevlut Cavusoglu, right, and Josep Borrell Fontelles, High Representative and Vice-President of the European Commission, speak during a joint news conference, in Ankara, Turkey, Monday, July 6, 2020. Turkey's Foreign Minister on Monday called on the European Union to be an "honest broker" in disputes between Turkey and EU member states France, Greece and Cyprus, warning that his country would be forced to "reciprocate" against any decisions the bloc takes against Ankara.(Cem Ozdel/Turkish Foreign Ministry via AP, Pool)
July 07, 2020 - 6:50 am
NICOSIA, Cyprus (AP) — Cyprus and its European Union partners are working to rein in Turkey’s “expansionist policy” in the eastern Mediterranean amid heightened tensions over an offshore search for hydrocarbons, the island nation's president said Tuesday. President Nicos Anastasiades said that the...
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European Commissioner for Economy Paolo Gentiloni speaks during a media conference on the summer 2020 economic forecast at EU headquarters in Brussels, Tuesday, July 7, 2020. (AP Photo/Virginia Mayo, Pool)
July 07, 2020 - 5:53 am
BRUSSELS (AP) — The European Union's executive arm forecasts that the bloc's economy will contract more than previously expected because of the coronavirus pandemic, which has caused lockdowns on business and public life that are only slowly being eased. The 27-nation EU economy will contract by 8...
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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)
July 07, 2020 - 12:41 am
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'...
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