Economy

In this photo taken from video provided by the New York Stock Exchange, Chief Security Officer Kevin Fitzgibbons rings the opening bell at the NYSE, while recognizing Randy Timmons in Albany, Ga., and thousands of employees of the Proctor & Gamble Company, Thursday, April 9, 2020. (New York Stock Exchange via AP)
SKY News
April 09, 2020 - 5:42 pm
NEW YORK (AP) — Wall Street closed out its best week in 45 years on Thursday after the Federal Reserve launched its latest titanic effort to support the economy through the coronavirus outbreak. The central bank announced programs to provide up to $2.3 trillion in loans to households, local...
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FILE - In this March 16, 2020 file photo, chairs hang stacked on empty tables at a closed restaurant in New York. Small business owners across the country waited again Wednesday, April 8, to receive loan money under the government’s $2 trillion coronavirus relief program. Despite a few reports that some companies had received their loans, the vast majority of the hundreds of thousands of owners who began applying for the loans on Friday were still in limbo. (AP Photo/Yuki Iwamura, File)
SKY News
April 09, 2020 - 3:31 am
NEW YORK (AP) — Speed is of the essence if a federal relief program for small businesses is going to be effective in combating the damage wrought by the coronavirus lockdowns. Yet, days into the program, many Main Street businesses are still waiting for the cash infusion necessary to stay alive...
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A man wears a protective mask while waiting for a bus in Detroit, Wednesday, April 8, 2020. Detroit buses will have surgical masks available to riders starting Wednesday, a new precaution the city is taking from the new coronavirus COVID-19. (AP Photo/Paul Sancya)
SKY News
April 08, 2020 - 9:19 pm
NEW YORK (AP) — Even as coronavirus deaths mount across Europe and New York, the U.S. and other countries are starting to contemplate an exit strategy and thinking about a staggered and carefully calibrated easing of restrictions designed to curb the scourge. “To end the confinement, we’re not...
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President Donald Trump listens during a conference call with banks on efforts to help small businesses during the coronavirus pandemic, at the White House, Tuesday, April 7, 2020, in Washington. (AP Photo/Evan Vucci)
April 07, 2020 - 9:58 pm
WASHINGTON (AP) — President Donald Trump is moving aggressively to challenge the authority and independence of agency watchdogs overseeing his administration, including removing the inspector general tasked with overseeing the $2.2 trillion coronavirus rescue package that passed Congress with...
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FILE - In this Nov. 13, 2019, file photo Federal Reserve Board Chair Jerome Powell testifies on the economic outlook, on Capitol Hill in Washington. On Wednesday, Jan. 29, 2020, the Federal Reserve issues a statement and economic projections, followed by a news conference with Fed Chair Jerome Powell. (AP Photo/Jose Luis Magana, File)
SKY News
April 06, 2020 - 5:22 pm
WASHINGTON (AP) — The Federal Reserve said Monday it will support the government's $349 billion small business lending program, which had a rocky start Friday. The Fed said that it will buy loans that banks make to small businesses as part of the program, which is being carried out by banks and the...
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In this photo taken from video provided by the New York Stock Exchange, Chief Security Officer Kevin Fitzgibbons rings the opening bell at the NYSE, Monday, April 6, 2020, recognizing Patsy Graham, a registered nurse at North Shore University Hospital Northwell Health, in Manhasset, NY. Stocks jumped in markets around the world Monday after some of the hardest-hit areas offered sparks of hope that the worst of the coronavirus outbreak may be on the horizon. (New York Stock Exchange via AP)
SKY News
April 06, 2020 - 4:57 pm
NEW YORK (AP) — Investors grabbed hold of a few glimmers of hope Monday that the coronavirus pandemic could be slowing and sent stocks surging in a worldwide rally, capped by a 7% leap for the U.S. market. The number of new coronavirus cases is dropping in the European hotspots of Italy and Spain...
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A medic of the Elmhurst Hospital Center medical team reacts after stepping outside of the emergency room, Saturday, April 4, 2020, in the Queens borough of New York. 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. (AP Photo/Mary Altaffer)
SKY News
April 04, 2020 - 4:21 pm
This past week, New York got worse — far worse. In New York City, as morgue space ran out, people started wondering where the bodies will go and the funeral industry struggled to keep up. On the streets of a city accustomed to the exact opposite of social distancing, New Yorkers found a new,...
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In this photo made on, April 2, 2020, nurse anesthetist Jessica Poole checks for updates on the coronavirus pandemic in her home office in Greensburg, Pa. Poole, until a couple weeks ago, worked for a private anesthesia practice that serves the Pittsburgh area until she was laid off. She is one of the tens of thousands of medical workers across the United States suddenly out of work as operating rooms and doctor's offices go dark, casualties of urgent calls to prioritize coronavirus patients at overwhelmed hospitals and of the economic waves the crisis is churning. (AP Photo/Keith Srakocic)
April 04, 2020 - 11:17 am
HARRISBURG, Pa. (AP) — Tens of thousands of medical workers across the United States are suddenly out of work as operating rooms and doctor's offices go dark, casualties of urgent calls to prioritize coronavirus patients at overwhelmed hospitals and of the economic waves the crisis is churning...
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April 03, 2020 - 4:20 pm
WASHINGTON (AP) — U.S. long-term mortgage rates fell this week for the second straight week as anxiety has spiraled over devastation to the economy from the coronavirus pandemic. Home-loan rates have been hitting all-time lows. Mortgage buyer Freddie Mac reported Thursday that the average rate on...
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Construction work in New Orleans
Getty Images
SKY News
April 03, 2020 - 8:54 am
A record-long streak of U.S. job growth ended suddenly in March after nearly a decade as employers cut 701,000 jobs because of the viral outbreak that’s all but shut down the U.S. economy. The unemployment rate jumped to 4.4% from a 50-year low of 3.5%. Last month’s actual job loss was likely even...
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