Financial crisis

FILE- In this Jan. 3, 2019, file photo the Apple logo is displayed at the Apple store in the Brooklyn borough of New York. Apple is releasing a new iPhone that will be dramatically cheaper than the models it rolled out last fall at a time when the economy was booming and the coronavirus pandemic wasn’t forcing consumers to cut back on their spending. The second-generation iPhone SE announced Wednesday, April 15, 2020, will sell for as little as $399. That's a 40% markdown from the most affordable iPhone 11 unveiled last year.(AP Photo/Mary Altaffer, File)
April 15, 2020 - 2:27 pm
NEW YORK (AP) — Apple is releasing a new iPhone that will be vastly cheaper than the models it rolled out last fall at a time when the economy was booming and the pandemic had yet to force people to rethink their spending. The second-generation iPhone SE introduced Wednesday will sell for as little...
Read More
In this Jan. 11, 2019 photo, the Detroit skyline is seen from Windsor, Ont. Detroit's fiscal future faces a new daunting foe in the coronavirus. Detroit Mayor Mike Duggan on Tuesday, April 14, 2020, announced some layoffs, pay cuts for other employees and and a reduction in some services. He warned that Detroit could be subject to a return to state oversight if action isn't taken quickly. (AP Photo/Carlos Osorio)
April 15, 2020 - 1:31 pm
DETROIT (AP) — Barely surviving the 2008 economic meltdown and humbled by its 2013 bankruptcy, Detroit’s fiscal future now faces another daunting foe in the coronavirus. The state-forced shutdown of its three casinos, auto plants and other businesses to slow the spread of the COVID-19 virus is...
Read More
A South Korean Confucian scholar wearing a face mask to help protect against the spread of the new coronavirus has his temperature checked upon his arrival to cast his vote for the parliamentary elections at a polling station in Nonsan, South Korea, Wednesday, April 15, 2020. South Korean voters wore masks and moved slowly between lines of tape at polling stations on Wednesday to elect lawmakers in the shadows of the spreading coronavirus. (Kang Jong-min/Newsis via AP)
April 15, 2020 - 5:47 am
SEOUL, South Korea (AP) — In a surprisingly high turnout, millions of South Korean voters wore masks and moved slowly between lines of tape at polling stations on Wednesday to elect lawmakers in the shadows of the spreading coronavirus. The government resisted calls to postpone the parliamentary...
Read More
Medical workers cheer and acknowledge pedestrians and FDNY firefighters who gathered to applaud them at 7 p.m. outside Brooklyn Hospital Center, Tuesday, April 14, 2020, in New York. (AP Photo/John Minchillo)
April 14, 2020 - 10:56 pm
WASHINGTON (AP) — Governors around the U.S. began sketching out plans Tuesday to reopen their economies in a slow and methodical process to prevent the coronavirus from rebounding with tragic consequences, as President Donald Trump appeared to back off his claim of absolute authority to determine...
Read More
FILE - In this Wednesday, April 8, 2020, file photo, the sun sets behind an idle pump jack near Karnes City, Texas. Demand for oil continues to fall due to the new coronavirus outbreak. As demand for fuel plummeted worldwide and the oil industry faced a devastating drop in oil prices, the U.S. took the rare move of stepping into negotiations involving the member countries of OPEC and non-members such as Russia and Mexico. (AP Photo/Eric Gay, File)
April 14, 2020 - 11:04 am
NEW YORK (AP) — As demand for fuel plummeted worldwide and the oil industry faced a devastating drop in oil prices, the U.S. took the rare move of stepping into negotiations involving the member countries of OPEC and non-members such as Russia and Mexico, an alliance called OPEC+. President Donald...
Read More
The buildings of the banking district are seen in Frankfurt, Germany, early Tuesday, April 14, 2020. Due to the coronavirus the economy expects worldwide heavy losses. (AP Photo/Michael Probst)
April 14, 2020 - 9:29 am
WASHINGTON (AP) — Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. The IMF said Tuesday that it expects the global economy to shrink 3% this year — far...
Read More
This image taken in Hanoi, Vietnam, shows a monitor screen of ASEAN leaders attending the Special ASEAN summit on COVID-19 online Tuesday April 14, 2020. Counter-clockwise from top left: ASEAN Secretary General Lim Jock Hoi, Thai President Prayut Chan-ocha, Singaporean President Lee Hsien Loong, Philippine President Rodrigo Duterte, Myanmar State Counsellor Aung San Suu Kyi, Malaysia Prime Minister Muhyiddin Yassin, Indonesian President Joko Widodo, Laos Prime Minister Thongloun Sisoulith, Cambodian Prime Minister Hun Sen, Brunei Sultan Hassanal Bolkiah and Vietnamese Prime Minister Nguyen Xuan Phuc. (VNA via AP)
April 14, 2020 - 7:06 am
HANOI, Vietnam (AP) — Forced apart by the coronavirus pandemic, Southeast Asian leaders linked up by video Tuesday to plot a strategy to overcome a crisis that has threatened their economies and kept millions of people in their homes under lockdowns. The 10 leaders of the Association of Southeast...
Read More
Pope Francis spreads incense at the start of Easter Sunday Mass, inside an empty St. Peter's Basilica at the Vatican, Sunday, April 12, 2020. Pope Francis and Christians around the world marked a solitary Easter Sunday, forced to celebrate the most joyful day in the liturgical calendar amid the sorrowful reminders of the devastation wrought by the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (Andreas Solaro/Pool via AP)
April 12, 2020 - 3:47 pm
VATICAN CITY (AP) — Pope Francis called for global solidarity Sunday to confront the “epochal challenge” posed by the coronavirus pandemic as he and Christians around the world celebrated the joy of Easter in unusually solitary and somber circumstances due to bans on public gatherings and stay-at-...
Read More
The Rev. Nicolas Sanchez takes a phone call from a parishioner after live-streaming the Good Friday Mass at St. Patrick's Catholic Church in Los Angeles on Friday, April 10, 2020. The COVID-19 measures also have changed the way people worship, with churches and synagogues closed and many Passover and Easter services streamed online. (AP Photo/Damian Dovarganes)
April 11, 2020 - 5:29 pm
As coronavirus cases topped 1.75 million in the world during the past week — Holy Week for Christians and Passover for Jews — deaths in the United States overtook Italy's. And fatalities kept adding up sharply in a sequestered, terrified New York City. Associated Press journalists fanned out across...
Read More
Patrolman Elliot Landrau keeps watch at the West Side Market, Friday, April 10, 2020, in Cleveland. There were fewer shoppers this year before the Easter holiday than in previous years due to the coronavirus. (AP Photo/Tony Dejak)
April 10, 2020 - 4:23 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus. ________________________ CONSUMER DURESS: The consumer drives about 70% of all economic...
Read More

Pages