May 13 Built for a global economy, Dubai now threatened by virus By Jon Gambrell, Associated Press Dubai has built a city on the promise of globalization, creating itself as a vital hub for the free movement of trade, people and money worldwide. Continue reading
May 13 Powell warns of prolonged recession and unemployment By Christopher Rugaber, Associated Press The Fed and Congress have taken far-reaching steps to try to counter what is likely to be a severe downturn resulting from the widespread shutdown of the U.S. economy. But Powell cautioned that widespread bankruptcies among small businesses and extended… Continue reading
May 12 House rescue package includes $25 billion for Postal Service By Matthew Daly, Associated Press Mail volume is down by more than 30 percent from last year because of the pandemic, and the Postal Service says losses will increase by more than $22 billion over the next 18 months. Continue reading
May 12 WATCH: Sen. Schumer slams Trump over virus response By Associated Press Democratic Sen. Minority Leader Chuck Schumer slammed President Donald Trump over his response to the coronavirus pandemic following a Senate hearing that featured top health officials, including Dr. Anthony Fauci, and CDC Director Robert Redfield. Continue reading
May 12 U.S. government sees record monthly deficit of $737.9 billion By Martin Crutsinger, Associated Press The sea of red ink is being created by a drop in revenue and a massive increase in spending to fund efforts to deal with the coronavirus pandemic. Continue reading
May 12 Why prospect of deflation could pose a threat to U.S. economy By Martin Crutsinger, Associated Press The economic paralysis caused by the coronavirus led in April to the steepest month-to-month fall in U.S. consumer prices since the 2008 financial crisis — a 0.8% drop that was driven by a plunge in gasoline prices. Continue reading
May 12 WATCH: White House press secretary holds briefing on coronavirus updates By Justin Stabley and Associated Press The White House will hold a news briefing on May 12. Continue reading
May 12 WATCH: Pelosi unveils $3 trillion coronavirus aid package By Lisa Mascaro, Associated Press “Not acting is the most expensive course," she said on Tuesday. Continue reading
May 11 Biggest U.S. solar project approved in Nevada despite critics By Scott Sonner, Associated Press The Trump administration has approved the largest solar energy project in the U.S. and one of the biggest in the world despite objections from conservationists who say it will destroy thousands of acres of habitat critical to the survival of… Continue reading
May 11 WATCH: Virginia governor gives coronavirus update By Justin Stabley and Associated Press Virginia Gov. Ralph Northam held a news conference to give an update on the state's efforts to fight the novel coronavirus. Continue reading