Financial crisis

A woman looks at signs at a store closed due to COVID-19 in Niles, Ill., Wednesday, May 13, 2020. (AP Photo/Nam Y. Huh)
May 14, 2020 - 5:04 pm
WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak forced more companies to slash jobs even though most states have begun to let some businesses reopen. Roughly 36 million people have now sought jobless aid in just the two...
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New Zealand Prime Minister Jacinda Ardern, right, walks with Deputy Prime Minister Winston Peters to the house for the budget delivery speech at Parliament in Wellington, New Zealand, Thursday, May 14, 2020. New Zealand's government plans to borrow and spend vast amounts of money as it tries to keep unemployment below 10% in the wake of the coronavirus pandemic. (Hagen Hopkins/Pool Photo via AP)
May 13, 2020 - 11:40 pm
WELLINGTON, New Zealand (AP) — New Zealand’s government plans to borrow and spend vast amounts of money as it tries to keep unemployment below 10% in the wake of the coronavirus pandemic. Finance Minister Grant Robertson on Thursday unveiled a budget unlike any in the nation's history. Debt would...
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FILE - In this May 12, 2020, file photo, a teacher removes students’ artwork from a bulletin board as she packs the art in her kindergarten classroom at an elementary school in Olathe, Kan. The coronavirus is proving ruinous to state budgets, forcing many governments to consider once-unthinkable cuts to schools, universities, health care programs and a wide array of other basic functions. (AP Photo/Charlie Riedel, File)
May 13, 2020 - 10:00 pm
As the nation enters a third month of economic devastation, the coronavirus is proving ruinous to state budgets, forcing many governments to consider deep cuts to schools, universities, health care and other basic functions that would have been unthinkable just a few months ago. Many states expect...
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FILE - In this May 2, 2020, file photo, people, including those with the boogaloo movement, demonstrate against business closures due to concern about COVID-19, at the State House in Concord, N.H. It's a fringe movement with roots in a online meme culture steeped in irony and dark humor. But experts warn that the anti-government boogaloo movement has attracted a dangerous element of far-right extremists. (AP Photo/Michael Dwyer, File)
May 13, 2020 - 4:11 pm
SILVER SPRING, Md. (AP) — They carry high-powered rifles and wear tactical gear, but their Hawaiian shirts and leis are what stand out in the crowds that have formed at state capital buildings to protest COVID-19 lockdown orders. The signature look for the “boogaloo” anti-government movement is...
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House Speaker Nancy Pelosi of Calif., speaks during an interview with The Associated Press on Capitol Hill in Washington, Wednesday, May 13, 2020. (AP Photo/Patrick Semansky)
May 13, 2020 - 4:08 pm
WASHINGTON (AP) — House Speaker Nancy Pelosi on Wednesday defended the stunning $3 trillion price tag on Democrats' pandemic relief package as what is needed to confront the “villainous virus” and economic collapse. “The American people are worth it,” Pelosi told The Associated Press. In an...
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Angie Moorefield unfolds material to begin sewing a disposable gown at Burlington Medical in Newport News Wednesday, May 6, 2020. The manufacturing business recently shifted from producing radiation protection gear for medical facilities to in-demand personal protective equipment such as masks, gowns and plastic face shields. (Jonathon Gruenke/The Virginian-Pilot via AP)
May 13, 2020 - 9:31 am
WASHINGTON (AP) — Wholesale prices slid a record 1.3% in April led by a 19% plunge in the cost of energy, further signaling the potential threat of deflation in the United States. The Labor Department said Wednesday that its producer price index, which measures inflation before it reaches the...
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A custiomer shops in a garden and DIY centre, as the country is in lockdown to help stop the spread of coronavirus, Tuesday, May 12, 2020. The government has announced that as of Wednesday May 13 garden centres will be opening but operating with new measures such as social distancing. (AP Photo/Kirsty Wigglesworth)
May 13, 2020 - 5:49 am
LONDON (AP) — The U.K. government warned Wednesday of a “significant” recession after official figures showed the economy shrank 2% in the first quarter of the year even though it included just one week of the coronavirus lockdown. The Office of National Statistics found that the slump was getting...
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FILE - In this March 15, 2019, file photo, Buffalo's Dontay Caruthers (22) looks to pass as Central Michigan's Dallas Morgan (23) defends during the first half of an NCAA college basketball game in the semifinals of the Mid-American Conference men's tournament in Cleveland. The Mid-American Conference is eliminating postseason tournaments in eight sports, including baseball and softball, and men's and women's basketball are among nine sports that will have postseasons scaled back. The MAC's announced the cost-cutting move Tuesday in response to the financial crisis being brought on by the coronavirus pandemic. (AP Photo/Tony Dejak, File)
May 12, 2020 - 7:58 pm
The Mid-American Conference is eliminating postseason tournaments in eight sports, including baseball and softball, and men's and women's basketball are among nine sports that will have postseasons scaled back. The MAC's announced the cost-cutting move Tuesday in response to the financial crisis...
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FILE - This May 22, 2018 file photo shows Simon & Schuster president Carolyn Reidy at the 2018 PEN Literary Gala in New York. Reidy died of a heart attack on Tuesday morning, May 12, 2020. She was 71. Her death was announced by company executive Dennis Eulau. (Photo by Evan Agostini/Invision/AP, File)
May 12, 2020 - 4:14 pm
NEW YORK (AP) — Simon & Schuster CEO Carolyn Reidy, who presided over her company with steady force and a passion for books during a time of frequent and traumatic change, died Tuesday morning at age 71. Her death, from a heart attack, was announced by Dennis Eulau, the company’s chief...
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FILE - This Aug. 11, 2019 file photo shows credit cards in New Orleans. U.S. consumer borrowing fell in March for the first time in more than eight years, with the category covering credit cards dropping by the largest amount in over three decades, the Federal Reserve reported Thursday, May 7, 2020. (AP Photo/Jenny Kane, file)
May 12, 2020 - 2:32 pm
WASHINGTON (AP) — 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. And excluding the normally volatile categories of food and energy...
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