WASHINGTON (AP) — U.S. home-building activity collapsed in March as the coronavirus spread, with housing starts tumbling 22.3% from a month ago. The Commerce Department said Thursday that ground breakings occurred last month at a seasonally adjusted annual rate of 1.2 million units, down from a 1.56 million pace in February. Construction of single-family houses […]

NEW YORK (VINnews) – U.S. stock futures surged on Thursday night after a report said a Gilead Sciences drug was showing effectiveness in treating the coronavirus. The move pointed to a jump for the stock market on Friday. Dow Jones Industrial Average futures were up 800 points, or about 3.3%. S&P 500 futures gained 2.9% […]

WASHINGTON (AP) — President Donald Trump gave governors a road map Thursday for recovering from the economic pain of the coronavirus pandemic, laying out “a phased and deliberate approach” to restoring normal activity in places that have strong testing and are seeing a decrease in COVID-19 cases. “We’re starting our life again,” Trump said during […]

WASHINGTON (AP) — Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. The IMF said Tuesday that it expects the global economy to shrink 3% this year — far worse than its […]

WASHINGTON (AP) — A friend and donor to President Donald Trump who the president had said was in a coma and seriously ill after becoming infected with the coronavirus has died. Stanley I. Chera’s death Saturday was reported by The Real Deal, which covers the New York real estate industry. The publication cited unidentified sources […]

GENEVA — The head of the International Monetary Fund says the recession sparked by the coronavirus pandemic is “way worse” than the 2008 global recession. IMF managing director Kristalina Georgieva is describing the situation as “a crisis like no other.” “Never in the history of the IMF have we witnessed the world economy coming to […]

WASHINGTON (AP) — A record-long streak of U.S. job growth ended suddenly in March after nearly a decade as employers cut 701,000 jobs because of the viral outbreak that’s all but shut down the U.S. economy. The unemployment rate jumped to 4.4% from a 50-year low of 3.5%. The monthly job loss reported Friday by […]

WASHINGTON (AP) — It may be an odd gesture at a time of social distancing, but President Donald Trump is leaning into his plea to Congress to restore full tax benefits prized by business for fine dining and schmoozing. Trump is seizing on the pandemic crisis to push for an item on his economic wish […]

WASHINGTON (AP) — The federal government expects to begin making payments to millions of Americans under the new stimulus law in mid-April, but some people without direct deposit information may not get checks until mid-August or later, according to a memo obtained Thursday by The Associated Press. The document from the House Ways and Means […]

WASHINGTON (AP) — More than 6.6 million Americans applied for unemployment benefits last week, far exceeding a record high set just last week, a sign that layoffs are accelerating in the midst of the coronavirus. The job cuts are mounting against the backdrop of economies in the United States and abroad that have almost certainly […]