Apr 17 Hope finds a foothold on Wall Street, stocks rally worldwide By Stan Choe, Damian J. Troise, Alex Veiga, Associated Press U.S. stocks joined a worldwide rally and closed out their first back-to-back weekly gain since the market began selling off two months ago. Continue reading
Apr 17 WATCH: World Bank president pledges to try to cushion virus’ economic blow By Martin Crutsinger, Associated Press World Bank President David Malpass stressed that his agency was well aware of the rising threat from a health crisis that is expected to plunge the global economy into the deepest recession since the Great Depression of the 1930s. Continue reading
Apr 17 Pro-Trump protesters push back on stay-at-home orders By Sara Burnett, Brian Slodysko, Associated Press In places like Oklahoma, Texas and Virginia, small-government groups, supporters of President Donald Trump, anti-vaccine advocates and others have united behind a deep suspicion of efforts to shut down daily life to slow the spread of the coronavirus. Continue reading
Apr 17 As $2 trillion in coronavirus aid starts to flow, oversight still lags By Mary Clare Jalonick, Matthew Daly, Associated Press Congress created at least four different bodies to help prevent fraud and abuse as the government doles out a massive amount of money to businesses, states and individuals. But none of those bodies has been set up yet. Continue reading
Apr 17 WATCH: Texas governor announces easing of virus restrictions By Laura Santhanam Gov. Greg Abbott announced on Friday that he is issuing an executive order to begin "opening the Texas economy, helping you return to work using the safest standards to contain the coronavirus."… Continue reading
Apr 17 Stocks rise worldwide, lifted by hopes for virus progress By Stan Choe, Damian J. Troise, Associated Press Stocks are rising Friday as investors latch onto strands of hope about progress in the fight against the coronavirus. Continue reading
Apr 16 Watch 3:42 Stories from Americans struggling with the pandemic’s economic fallout The U.S. is experiencing a sudden spike in unemployment not seen since the Great Depression. In about a month, 22 million lost their jobs, with many more cuts yet to come -- and a sense that even these staggering numbers… Continue watching
Apr 16 Watch 4:58 Why congressional relief for small businesses ran out so fast Small businesses constitute the primary engine of the U.S. economy -- and they are among the hardest hit by the novel coronavirus pandemic’s fallout. They suffered a new blow Thursday when the massive $349 billion relief program established to support… Continue watching
Apr 16 Watch 4:55 The pandemic has wiped out nearly all job gains since recession — and it’s not done yet U.S. job losses resulting from the COVID-19 pandemic are simply staggering. So far, they are roughly equivalent to the number of jobs created since the last painful recession. Elise Gould, senior economist with the nonprofit Economic Policy Institute, joins Judy… Continue watching
Apr 16 Watch 5:45 Evaporation of travel sector threatens airlines’ very survival By Paul Solman One of the business sectors hit hardest by the novel coronavirus pandemic has been air travel. Passenger volume is down a stunning 96 percent in the U.S., while airline losses have topped $300 billion worldwide. Despite canceled flights, travelers are… Continue watching