Financial crisis

July 01, 2020 - 12:40 pm
SAN JUAN, Puerto Rico (AP) — Puerto Rico awoke to a new budget approved early Wednesday that largely suspends austerity measures and government cuts for one year as the U.S. territory struggles to recover from hurricanes, earthquakes and the pandemic. A federal control board that oversees Puerto...
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Democratic presidential candidate, former Vice President Joe Biden, speaks Tuesday, June 30, 2020, in Wilmington, Del. (AP Photo/Patrick Semansky)
June 30, 2020 - 5:26 pm
WILMINGTON, Del. (AP) — Joe Biden took aggressive aim Tuesday at President Donald Trump’s fitness for the Oval Office, suggesting he has abdicated his duty to protect U.S. troops facing Russian threats abroad and American citizens facing a pandemic and economic calamity at home. Biden, the...
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European Union foreign policy chief Josep Borrell waits for the start of a meeting, Supporting the future of Syria and the Region, in videoconference format at the European Council building in Brussels, Tuesday, June 30, 2020. (AP Photo/Virginia Mayo, Pool)
June 30, 2020 - 5:45 am
BRUSSELS (AP) — Donors from around 60 countries and international agencies are meeting Tuesday to drum up financial aid for Syria as the coronavirus and economic chaos wreak even more havoc in a country shattered by a conflict now in its 10th year. The war has killed more than 400,000 people and...
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June 29, 2020 - 4:51 pm
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus. “A full recovery is unlikely until people...
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German Chancellor Angela Merkel and French President Emmanuel Macron, left, talk during a bilateral meeting at the German government's guest house Meseberg Castle in Gransee near Berlin, Germany, Monday, June 29 2020. The meeting takes place ahead of Germany's EU Council Presidency in the second half of 2020. (Hayoung Jeon, Pool via AP)
June 29, 2020 - 2:44 pm
BERLIN (AP) — The leaders of Germany and France said Monday they will use their influence as European Union powerhouses to help negotiate a rapid agreement on a coronavirus recovery package for the 27-nation bloc that leaves no country behind. In their first face-to-face meeting since the start of...
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In this photo released on Thursday, June 11, 2020 by the Lebanese Government, President Michel Aoun, left, meets with U.S. Ambassador to Lebanon Dorothy Shea, at the Presidential Palace in Baabda, east of Beirut, Lebanon. A Lebanese court issued a ruling Saturday barring local and foreign media in the country from interviewing the U.S. ambassador to Beirut for a year, calling a recent interview in which she criticized the powerful Hezbollah group seditious and a threat to social peace. (Dalati Nohra/Lebanese Government via AP)
June 28, 2020 - 8:29 am
BEIRUT (AP) — Lebanon’s foreign minister summoned the U.S. ambassador to Beirut over comments she made recently in which she criticized the militant Hezbollah group, state-run National News Agency reported Sunday. The agency gave no further details other than saying that the meeting between Foreign...
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FILE - In this Oct. 14, 2019, file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. The Federal Reserve said on Thursday, June 25, 2020, a worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause nation’s 34 largest banks to collectively lose roughly $700 billion. To bolster the banks ahead such a potentially damaging recession, the Fed ordered the banks to suspend stock buybacks and dividend payouts until Sept. 30. (AP Photo/Steven Senne)
June 25, 2020 - 11:38 pm
NEW YORK (AP) — A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday. To bolster the banks ahead of such a potentially damaging recession, the Fed ordered...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2020. Asian stock markets followed Wall Street higher on Friday after U.S. regulators removed some limits on banks' ability to make investments. (AP Photo/Ahn Young-joon)
June 25, 2020 - 11:28 pm
BEIJING (AP) — Asian stock markets followed Wall Street higher on Friday after U.S. regulators removed some limits on banks' ability to make investments. Benchmarks in Tokyo, Sydney and Southeast Asia advanced while Hong Kong declined. Chinese markets were closed for a holiday. Wall Street closed...
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FILE - This May 22, 2020 photo shows the Federal Reserve building in Washington. The Federal Reserve and four other bank regulatory agencies announced on Thursday, June 25, that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “Volcker Rule” gave an immediate boost to bank stocks because the rule change could free up billions of dollars in capital in the banking industry.(AP Photo/Patrick Semansky, File)
June 25, 2020 - 1:59 pm
WASHINGTON (AP) — The Federal Reserve and four other regulatory agencies announced on Thursday that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “...
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An empty parking lot is seen at a temporarily closed Kohl's department store, Wednesday, April 29, 2020, in Havertown, Pa. Devastated by the coronavirus, the U.S. economy is sinking. Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the year. (AP Photo/Matt Slocum)
June 25, 2020 - 8:43 am
WASHINGTON (AP) — The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic. The Commerce Department reported Thursday that the decline in the gross domestic product, the total output...
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