May 13 WATCH: D.C. mayor gives coronavirus update By Justin Stabley and Associated Press Washington D.C. Mayor Muriel Bowser held a news conference May 13 on the area’s response to the novel coronavirus. Continue reading
May 13 WATCH: As new clusters emerge, WHO warns virus may be here to stay By Lorne Cook, Elena Becatoros, Associated Press New coronavirus clusters have appeared as nations struggle to balance reopening economies with preventing a second wave of infections and deaths. Continue reading
May 13 U.N. forecasts pandemic to shrink world economy by 3.2% By Edith M. Lederer, Associated Press The United Nations is forecasting that the coronavirus pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the 1930s. Continue reading
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