Financial services

Treasury Secretary Steven Mnuchin wears a mask as he walks on the grounds of the White House, Thursday, May 14, 2020, in Washington. (AP Photo/Alex Brandon)
May 18, 2020 - 5:43 pm
WASHINGTON (AP) — The Treasury Department and Federal Reserve have lent hardly any money under a $500 billion fund created by the economic rescue law passed in response to the coronavirus crisis, a congressional oversight panel says in a new report. The Treasury fund is being used to guarantee new...
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In this March 3, 2020 file photo Federal Reserve Chair Jerome Powell speaks during a news conference in Washington. Powell is pledging to reveal the names and other details of the entities that borrow from the emergency programs the central bank has set up to offset the economic hit from the viral outbreak. In prepared testimony for a Tuesday, May 19, 2020 congressional hearing, Powell says the central bank will disclose the amounts borrowed and the interest rates it levies under its programs to provide credit for large corporations, state and local governments, and medium-sized businesses. (AP Photo/Jacquelyn Martin, file)
May 18, 2020 - 5:14 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell is pledging to reveal the names and other details of the entities that borrow from the emergency programs the central bank has set up to offset the economic hit from the viral outbreak. In prepared testimony for a Tuesday congressional hearing,...
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May 18, 2020 - 10:35 am
HONOLULU (AP) — Hawaii’s largest public pension fund suffered its worst quarterly loss in more than 17 years because of the economic impact of the coronavirus. The state Employees’ Retirement System investments fell 9.5%, The Honolulu Star-Advertiser reported Sunday. The fund’s assets, which...
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A man walks across the Millennium Bridge in London, Wednesday, May 13, 2020, as the country continues in lockdown to help stop the spread of coronavirus. Despite the relaxation of some of the coronavirus lockdown measures on Wednesday central London was still quite. (AP Photo/Tony Hicks)
May 14, 2020 - 6:45 am
LONDON (AP) — The pandemic will cost the insurance industry over $200 billion, according to Lloyds of London, who estimated that its own payouts are now on a par with the Sept. 11, 2001 attacks or the combined impact of hurricanes Harvey, Maria and Irma in 2017. Lloyds, which as an insurance market...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference in Washington. Powell provided a bleak outlook for the U.S. economy in remarks Wednesday, May 13, and urged Congress and the White House to act further to offset the damage from the viral outbreak. (AP Photo/Jacquelyn Martin, File)
May 13, 2020 - 4:48 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Wednesday of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage. The Fed and Congress have taken far-reaching steps to try to...
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Becky Richards keeps an eye out for customers at a recently-reopened Starbucks, Wednesday, May 13, 2020, in Freeport, Maine. Business has been slow at the coffee shop as most of it's neighboring retail stores remain closed during the coronavirus pandemic. (AP Photo/Robert F. Bukaty)
May 13, 2020 - 2:55 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to national and global response, the work place and the spread of the virus. ________________________ TRAVEL & LEISURE: Boeing said this week that it's...
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Leslie Musumecci checks a text while Emily Summerville rinses her hair Monday, May 11, 2020 at The Nook on 7th Street in Tuscaloosa, Ala. the first time since mid-March when personal contact businesses were shut down due to COVID-19 restrictions. Summerville owns The Nook with her husband. She said they had fielded many calls for appointments and were doing their best to accommodate those who had waited the longest to get them in first. (Gary Cosby Jr./Tuscaloosa News via AP)
May 11, 2020 - 6:55 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to national and global response, the work place and the spread of the virus. ________________________ EARNINGS SEASON: The damage from the pandemic is playing...
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A person wearing a protective face mask as a precaution against the coronavirus walks past stuttered businesses in Philadelphia, Thursday, May 7, 2020. Nearly 3.2 million laid-off workers applied for unemployment benefits last week as the business shutdowns caused by the viral outbreak deepened the worst U.S. economic catastrophe in decades. (AP Photo/Matt Rourke)
May 07, 2020 - 8:18 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to national and global response, the work place and the spread of the virus. ________________________ TRAVEL & LODGING: All aspects of travel, road, rail...
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May 07, 2020 - 5:10 am
COPENHAGEN, Denmark (AP) — Norway’s central bank has cut its key policy rate by a quarter percentage point to 0% as the economy is slammed by the combination of the coronavirus pandemic and a recent plunge in the price of oil. “The uncertainty surrounding developments ahead is unusually high,”...
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In this April 24, 2020, photo, people maintain social distancing and wear face masks due to COVID-19 concerns, while waiting to enter a check cashing service center in the Brooklyn borough of New York. While millions of U.S. workers have already received a quick relief payment from the federal treasury through direct deposit, millions of others without traditional bank accounts must wait weeks for paper checks. Advocates for the poor say this is an opportunity to get many of those who are unbanked into the formal financial system. (AP Photo/Bebeto Matthews)
May 03, 2020 - 3:28 pm
NEW YORK (AP) — As the coronavirus crisis took hold, Akeil Smith’s employer slashed her work as a home health aide to 25 hours per week. Her $15-an-hour salary no longer provided enough to pay her $700 monthly rent, and she had to visit food pantries for groceries. While millions of U.S. workers...
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