LONDON (AP) — Nations and U.S. states have begun easing coronavirus lockdowns, each pursuing their own approach but all with a common goal: restarting their economies without triggering a new surge of infections. Restrictions are being lifted in a piecemeal fashion with no clear signs of coordination among countries. Some have restarted construction work, while […]

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 are seeing signs that more owners are […]

WASHINGTON (AP) — Spend what it takes, Washington said as it confronted the coronavirus. Well over $2 trillion later, it’s unclear where that spending will end. One of the lasting legacies of the coronavirus pandemic will be staggering debts and deficits on the U.S. balance sheet, with shortfalls hitting levels that would have been unthinkable […]

NEW YORK (AP) – The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments related to the global economy, the work place and the spread of the virus. ________________________ GOVERNMENT & CENTRAL BANKS: Governments around the globe are laying out billions of dollars to stabilize their […]

WASHINGTON (AP) — President Donald Trump said Friday that he won’t approve a $10 billion loan for the U.S. Postal Service unless the agency raises charges for Amazon and other big shippers to four to five times current rates. “The Postal Service is a joke because they’re handing out packages for Amazon and other internet […]

WASHINGTON (AP) — House Speaker Nancy Pelosi insisted Friday that Congress’ next economic package provide billions for financially reeling state and local governments, foreshadowing a sharp partisan fight ahead in lawmakers’ continuing response to the coronavirus pandemic. “There will not be a bill without state and local” aid, Pelosi, D-Calif., told reporters in the Capitol. […]

WASHINGTON (AP) — Orders for big-ticket manufactured goods plunged 14.4% in March, the second-biggest decline on record. The worse-than-expected slide underscored the severity of the economic impact from the pandemic. New orders for commercial airlines actually went negative as cancellations outpaced sales. Those orders plunged 295.7% with skies largely empty of planes. The last time […]

NEW YORK (AP) – The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the global economy, the work place and the spread of the virus. ________________________ ALTERED STATE OF RETAIL: Retail stores are largely closed across the country and most of the […]

WASHINGTON (AP) — More than 4.4 million laid-off workers applied for U.S. unemployment benefits last week as job cuts escalated across an economy that remains all but shut down, the government said Thursday. Roughly 26 million people have now filed for jobless aid in the five weeks since the coronavirus outbreak began forcing millions of […]

WASHINGTON (AP) — The financial conditions of the government’s two biggest benefits programs remain shaky, with Medicare projected to become insolvent in six years and Social Security on track to no longer be able to pay full benefits starting in 2035. And that’s without accounting for the impact of the coronavirus, which is sure to […]