Financial crisis

French President Emmanuel Macron, center, wearing a protective face mask, listens to explanations by an employee as CEO of France-based multinational automotive supplier Valeo Jacques Aschenbroicha looks on, in Etaples, , northern France, Tuesday May 26, 2020. Emmanuel Macron announced a 8 billion euro ($8.8 billion) plan to save the country's car industry from huge losses wrought by virus lockdowns, including a big boost for electric vehicles. The plan includes government subsidies for car buyers and longer-term investment in innovative technology, especially in battery-powered cars. (Ludovic Marin, Pool via AP)
May 26, 2020 - 4:00 pm
PARIS (AP) — France’s government is injecting more than 8 billion euros ($8.8 billion) to save the country’s car industry from huge losses wrought by virus lockdowns, and wants to use the crisis to make France the No. 1 producer of electric vehicles in Europe. Starting next week, consumers can get...
Read More
In this Saturday, May 23, 2020 photo, an Ethiopian domestic worker cleans her employer's balcony, in Beirut, Lebanon. Some 250,000 registered migrant laborers in Lebanon — maids, garbage collectors, farm hands and construction workers — are growing more desperate as a crippling economic and financial crisis sets in, coupled with coronavirus restrictions. With no functioning airports and exorbitant costs of repatriation flights, many are trapped, unable to go home. (AP Photo/Hussein Malla)
May 26, 2020 - 6:02 am
BEIRUT (AP) — Long before the pandemic struck, they lived and worked in conditions that rights groups called exploitative — low wages, long hours, no labor law protections. Now, some 250,000 registered migrant laborers in Lebanon — maids, garbage collectors, farm hands and construction workers —...
Read More
A currency trader talks on the phone near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Monday, May 25, 2020. Asian shares are mostly higher, with Tokyo stocks gaining on expectations that a pandemic state of emergency will be lifted for all of Japan. But shares fell in Hong Kong on Monday after police used tear gas to quell weekend protests over a proposed national security bill for the former British colony. (AP Photo/Lee Jin-man)
May 25, 2020 - 5:45 am
TOKYO (AP) — Global shares rose Monday, with Europe tracking gains in Asia despite news that the German economy fell into recession in the first quarter of the year amid the coronavirus pandemic. France's CAC 40 gained 0.8% in early trading to 4,479.60, while Germany's DAX jumped 1.2% to 11,206.26...
Read More
After being closed for several weeks due to the coronavirus outbreak, Chandler Fashion Center Mall welcomes back patrons with many social distancing guideline signs Sunday, May 17, 2020, in Chandler, Ariz. Much of the country remains unlikely to venture out to bars, restaurants, theaters or the gym anytime soon, despite state and local officials increasingly allowing businesses to reopen. That's according to a new survey by The Associated Press-NORC Center for Public Affairs Research. (AP Photo/Ross D. Franklin)
WBEN Newsroom
May 22, 2020 - 4:42 pm
WASHINGTON (AP) — Much of the country remains unlikely to venture out to bars, restaurants, theaters or gyms anytime soon, despite state and local officials across the country increasingly allowing businesses to reopen, according to a new survey by The Associated Press-NORC Center for Public...
Read More
FILE - In this Oct. 1, 2019, file photo, soldiers from China's People's Liberation Army (PLA) Navy let out a yell as they march in formation during a parade to commemorate the 70th anniversary of the founding of Communist China in Beijing. China will boost defense spending by just 6.6% in 2020, the lowest rate in years as it battles an economic crisis brought on by the coronavirus outbreak, the government said Friday, May 22, 2020. (AP Photo/Mark Schiefelbein, File)
May 22, 2020 - 1:00 am
BEIJING (AP) — China will increase its defense spending by 6.6% in 2020, the lowest rate in years as it battles an economic crisis brought on by the coronavirus outbreak, the government said Friday. The figure is down from the double-digit percentage increases of just a few years ago that have...
Read More
May 21, 2020 - 3:21 pm
WASHINGTON (AP) — Efforts to forecast the U.S. economy's path to recovery from the current deep downturn face “a whole new level of uncertainty," Federal Reserve Chairman Jerome Powell said Thursday. Not only is there the difficulty predicting how the coronavirus pandemic will play out, it is also...
Read More
This April 16, 2020 photo shows a real estate company sign that marks a home for sale in Harmony, Pa. U.S. new home sales plunged 15.4% in March as the lockdowns that began in the middle of the month began to rattle the housing market. The Commerce Department reported Thursday, April 23, that sales of new single-family homes dropped to a seasonally ajdjusted annual rate of 627,000 last month after sales had fallen 4.6% in February. (AP Photo/Keith Srakocic)
May 21, 2020 - 11:06 am
WASHINGTON (AP) — Sales of existing homes plunged 17.8% in April with the real estate market still in the grips of the coronavirus pandemic. The National Association of Realtors said Thursday that last month's decline pushed sales down to a seasonally adjusted annual rate of 4.33 million units, the...
Read More
In this Nov. 25, 2019 file photo Federal Reserve Bank of Boston President Eric Rosengren, left, speaks during a round table discussion at Silver Lane Elementary School, in East Hartford, Conn. (AP Photo/Steven Senne, file)
May 20, 2020 - 4:28 pm
WASHINGTON (AP) — The president of a regional Federal Reserve bank that will oversee a groundbreaking business lending program said Wednesday that he thinks a slower-than-expected recovery from the economic downturn would lead companies to seek critical support from the program. In an interview...
Read More
A man with a facemask walks past a wall mural in Singapore’s Little India district on Saturday, May 16, 2020. Wearing of facemarks is mandatory for everyone who goes outside their homes to control the spread of the coronavirus in the city state. Singapore has reported more than 27,000 COVID-19 cases, with 90% of the cases linked to foreign workers dormitories, but it has a low fatality rate of 21 deaths. (AP Photo/YK Chan)
May 20, 2020 - 12:31 am
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — UN Secretary-General warns virus pandemic threatens...
Read More
FILE - This Nov. 15, 2018, file photo shows the logo of Sony at its showroom in Tokyo. Sony Corp. is making its financial services unit a wholly owned subsidiary to ensure stability as the Japanese entertainment and electronics company seeks to ride out the financial woes brought on by the new coronavirus pandemic. (AP Photo/Koji Sasahara, File)
May 19, 2020 - 5:50 am
TOKYO (AP) — Sony Corp. plans to make its financial services unit a wholly owned subsidiary to ensure stability as it rides out the hardships brought on by the coronavirus pandemic. “We will be able to carry out more flexible management,” Kenichiro Yoshida, chief executive of the Japanese...
Read More

Pages