Financial crisis

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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In this photo taken on Thursday, May 9, 2020, Vicky Economopoulou, left, and Eva Kexagia, who run a vegan bistro, checks their laptop in Athens. Greece plans to rapidly expand government digital services in 2020 to try and slim down its notoriously slow-moving bureaucracy and help the country exit its pandemic recession more quickly. More than 500 services are available through a new online portal, gov.gr, launched on March 21 during lockdown measures.(AP Photo/Derek Gatopoulos)
May 12, 2020 - 4:15 am
ATHENS, Greece (AP) — Greece plans to rapidly expand government digital services in 2020 to try and slim down its notoriously slow-moving bureaucracy and help the country exit its pandemic recession more quickly. More than 500 services are available through a new online portal, gov.gr, launched on...
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FILE - In this March 18, 2020, file photo, Defense Secretary Mark Esper speaks as President Donald Trump listens during press briefing with the coronavirus task force, at the White House in Washington. The government’s $3 trillion effort to rescue the economy from the coronavirus crisis is stirring worry at the Pentagon. Bulging federal deficits may force a reversal of years of big defense spending gains and threaten prized projects like the rebuilding of the nation’s arsenal of nuclear weapons. Esper says the sudden burst of emergency spending to prop up a stalled economy is bringing the Pentagon closer to a point where it will have to shed older weapons faster and tighten its belt. (AP Photo/Evan Vucci, File)
May 12, 2020 - 12:13 am
WASHINGTON (AP) — The government's $3 trillion effort to rescue the economy from the coronavirus crisis is stirring worry at the Pentagon. Bulging federal deficits may force a reversal of years of big defense spending gains and threaten prized projects like the rebuilding of the nation's arsenal of...
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FILE - In this Monday, April 6, 2020 file photo, chairs and tables are piled in front of a bar in St. Mark's Square, in Venice during a lockdown to prevent the spread of the coronavirus. The coronavirus outbreak is straining social safety nets across the globe - and underlining sharp differences in approach between wealthy societies such as the United States and Europe. In Europe, the collapse in business activity is triggering wage support programs that are keeping millions on the job, for now. (AP Photo/Andrew Medichini, File)
May 10, 2020 - 5:18 am
The coronavirus pandemic is straining social safety nets across the globe — and underlining sharp differences in approach between wealthy societies such as the United States and Europe. In Europe, the collapse in business activity is triggering wage support programs that are keeping millions on the...
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In this May 7, 2020, photo, the entrance to the Labor Department is seen near the Capitol in Washington. The record unemployment rate reflects a nation ravaged by the coronavirus pandemic, the economic devastation upending the presidential campaign and forcing President Donald Trump to overcome historic headwinds to win a second term. (AP Photo/J. Scott Applewhite)
May 09, 2020 - 12:44 am
NEW YORK (AP) — The record unemployment rate reported on Friday captured the pain of a nation where tens of millions of jobs suddenly vanished, devastating the economy and forcing President Donald Trump to overcome historic headwinds to win a second term. Just a few short months ago, Trump planned...
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File = This May 7, 2020 file photo, Josh Rosenthal holds a " closed until everyone is safe" sign as he sits in Creek Tea in Salt Lake City. Rosenthal, said the disruption caused by COVID-19 proved to be too much. He's closing his store. Many businesses have been given the green light to reopen, but owners are finding it's not that simple and many may not be able to weather the storm brewed up by COVID-19. (AP Photo/Rick Bowmer)
May 08, 2020 - 10:27 pm
WASHINGTON (AP) — The coronavirus crisis has sent U.S. unemployment surging to 14.7%, a level last seen when the country was in the throes of the Depression and President Franklin D. Roosevelt was assuring Americans that the only thing to fear was fear itself. And because of government errors and...
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FILE - In this May 7, 2020, file photo, a pedestrian walks by The Framing Gallery, closed due to the COVID-19 pandemic, in Grosse Pointe, Mich. The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. (AP Photo/Paul Sancya, File)
May 08, 2020 - 9:55 am
WASHINGTON (AP) — The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. The losses, reported by...
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FILE - In this file photo dated Wednesday, March 11, 2020, Pedestrians wearing face masks pass the Bank of England in London. In forecasts published Thursday May 7, 2020, The Bank of England has warned that the British economy could be nearly a third smaller by the end of the first half of this year as a result of the coronavirus pandemic, but also notes the economy could revive quickly. (AP Photo/Matt Dunham, FILE)
May 07, 2020 - 1:09 pm
LONDON (AP) — The Bank of England warned Thursday that the British economy could suffer its deepest annual contraction since the Spanish War of Succession a little over three centuries ago as a result of the coronavirus pandemic, before roaring back next year. In what it describes as a “plausible”...
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Gov. Gavin Newsom discusses his plan for the gradual reopening of California businesses during a news conference at the Display California store in Sacramento, Calif., Tuesday, May 5, 2020. Newsom has scolded two rural counties for allowing some businesses to reopen in defiance of his statewide coronavirus restrictions. (AP Photo/Rich Pedroncelli, Pool)
May 07, 2020 - 11:00 am
SACRAMENTO, Calif. (AP) — California will have a budget shortfall of $54.3 billion because of the economic devastation wrought by the coronavirus, Gov. Gavin Newsom's administration announced Thursday, a stunning reversal for a state that had a $21 billion surplus a year ago. The state has been...
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