Oct 15 IMF warns global economy could be permanently scarred By Martin Crutsinger, Associated Press The global economy's recovery from the pandemic recession is tentative and uneven and "marked by significant uncertainty" as confirmed coronavirus cases spread in many countries, global finance ministers warned Thursday. Continue reading
Oct 15 U.S. layoffs remain elevated as 898,000 seek jobless aid By Christopher Rugaber, Associated Press The number of Americans seeking unemployment benefits rose last week to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy's recovery from the pandemic recession that erupted seven months ago. Continue reading
Oct 13 Watch 9:49 Leaked documents show how Amazon misled the public about warehouse safety issues By Will Evans, Reveal During the pandemic, Americans have become even more reliant on online shopping -- a realm Amazon continues to dominate. But the company’s vast inventory, fast shipping and low prices come with a dangerous tradeoff: an increased risk to workers rushing… Continue watching
Oct 13 Social security checks to increase modestly in 2021 despite COVID-19 economic fallout By Ricardo Alonso-Zaldivar, Andrew Taylor, Associated Press Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people. Continue reading
Oct 13 IMF envisions a sharp 4.4 percent drop in global growth for 2020 By Martin Crutsinger, Associated Press The International Monetary Fund foresees a steep fall in international growth this year as the global economy struggles to recover from the pandemic-induced recession, its worst collapse in nearly a century. Continue reading
Oct 10 Watch 7:20 After a summer of no tourists, winter is coming for Maine's small businesses By Christopher Booker, Mori Rothman Small business owners in Maine that rely on a tourist-filled summer have been shuttering shops since the start of the pandemic. With negotiations over a stimulus package stalled, and the cold season approaching, many of them face a bleak future. Continue watching
Oct 08 Businesses shut in effort to contain virus in New York City hot spots By Jim Mustian, Associated Press All nonessential businesses in areas designated red zones by Gov. Andrew Cuomo were shuttered Thursday, and houses of worship were ordered to operate with no more than 10 people inside. Continue reading
Oct 08 COVID-19 relief pushes U.S. budget deficit to a record $3.1 trillion By Andrew Taylor, Associated Press The massive figures were expected but still stunning, more than double the previous deficit record of $1.4 trillion that was registered during former President Barack Obama's first year in office. Continue reading
Oct 08 U.S. sanctions hit all of Iran's financial sector By Matthew Lee, Associated Press The Trump administration has blacklisted virtually all of Iran’s financial sector, dealing another blow to an economy that is already reeling under U.S. sanctions. The move will deepen tensions with European nations over Iran. Continue reading
Oct 08 World Trade Organization to be led by a woman for first time By Jamey Keaten, Associated Press The WTO announced Thursday that a selection committee found Ngozi Okonjo-Iweala of Nigeria and Yoo Myung-hee of South Korea qualified for the final round in a race expected to end in the coming weeks. Continue reading