Financial crisis

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
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
Treasury Secretary Steven Mnuchin speaks during a meeting with restaurant industry executives about the coronavirus response, in the State Dining Room of the White House, Monday, May 18, 2020, in Washington. (AP Photo/Evan Vucci)
May 19, 2020 - 3:01 am
WASHINGTON (AP) — Treasury Secretary Steven Mnuchin will likely come under tough questioning from senators Tuesday about a small business lending program included in the government's $2 trillion relief package. Lawmakers from both parties have criticized the Payroll Protection Program, which...
Read More
FILE - In this Wednesday, July 25, 2018 file photo, cars are parked at a Fiat Chrysler car dealer in Milan, Italy. European car sales bottomed out last month as the automotive industry faces the worst crisis in decades. Strict lockdown measures to contain the coronavirus shutdown most dealerships across the continent for the full month of April, amid a precipitous drop in consumer spending, causing sales to collapse by an unprecedented 76%, according to the ACEA car manufacturers’ association. (AP Photo/Luca Bruno, File)
May 19, 2020 - 2:59 am
MILAN (AP) — European car sales bottomed out last month as the automotive industry faces its worst crisis in decades. Strict lockdown measures to contain the coronavirus closed most dealerships across the continent for the full month of April amid a precipitous drop in consumer spending, causing...
Read More
FILE - In this March 18, 2020, file photo, people are reflected on the electronic board of a securities firm in Tokyo. Japan's economic growth plunged into recession in the first quarter as the coronavirus pandemic squelched production, exports and spending, and fears are growing worse times may lie ahead, according to a report on Monday, May 18, 2020. (AP Photo/Koji Sasahara, File)
May 18, 2020 - 5:50 pm
WASHINGTON (AP) — The world economy likely faces a long slog back from the coronavirus crisis. Two reports out Monday predict that global growth will struggle to bounce back from the lockdowns, travel restrictions and business closures meant to contain the pandemic. IHS Markit said that it expects...
Read More
FILE - In this March 25, 2020, file photo a member of the U.S. Army walks down the hall toward a monitor displaying COVID-19 safety information in Fort Meade, Md. As of last week, the Army had already exceeded its retention goal of 50,000 soldiers for the fiscal year ending in September, re-enlisting more than 52,000 so far. (AP Photo/Carolyn Kaster, File)
May 18, 2020 - 12:14 am
WASHINGTON (AP) — Army Sgt. Antonio Gozikowski was planning to leave the military next month and head to college. After serving for six years, the dental assistant's goal was to become a dentist, and then return to the Army in a few years with his expanded medical skills. But now, with the...
Read More
Signs depicting Israeli Prime Minister Benjamin Netanyahu and Blue and White party leader Benny Gantz, are seen during a demonstration outside the Knesset, Israel's parliament in Jerusalem, Thursday, May 14, 2020. Prime Minister Benjamin Netanyahu and his rival-turned-partner, Benny Gantz, on Thursday postponed the swearing-in of their controversial new government as the Israeli leader rushed to quell infighting within his Likud party. Hebrew reads: "Israel is ashamed." (AP Photo/Sebastian Scheiner)
May 17, 2020 - 7:35 am
JERUSALEM (AP) — After three deadlocked and divisive elections, a year and a half of political paralysis and another three-day delay because of political infighting in his Likud party over coveted Cabinet posts, Prime Minister Benjamin Netanyahu was finally swearing in his new government on Sunday...
Read More
The sun rises over one of of the main roads in Frankfurt, Germany, Friday, May 15, 2020. (AP Photo/Michael Probst)
May 15, 2020 - 6:30 am
BERLIN (AP) — The German economy shrank by 2.2% in the first quarter compared with the previous three-month period as shutdowns in the country and beyond started to bite, official data showed Friday. That means Europe's biggest economy went into recession following a small dip at the end of last...
Read More

Pages