Financial crisis

FILE - In this Jan. 23, 1996, file photo, President Bill Clinton gestures while giving his State of the Union address to a joint session of Congress on Capitol Hill, in Washington. When he stood before Congress in 1996 and declared “the era of big government is over,” Clinton gave voice to a doctrine that permeated Democratic politics for more than two decades. Government, while necessary, shouldn't be celebrated if the party wanted to win elections. The coronavirus is changing that. Democrats are enthusiastically embracing the idea of a robust role for government in American life, abandoning concerns they might alienate the relatively narrow slice of independent voters. (AP Photo/Greg Gibson, File)
May 07, 2020 - 5:49 am
WASHINGTON (AP) — When he stood before Congress in 1996 and declared “the era of big government is over,” President Bill Clinton gave voice to a doctrine that permeated Democratic politics for more than two decades. Government, while necessary, shouldn't be celebrated if the party wanted to win...
Read More
May 06, 2020 - 9:55 pm
BAGHDAD (AP) — Iraq’s former spy chief was sworn in as prime minister by lawmakers early Thursday after weeks of tense political negotiations as the country faces a severe economic crisis spurred by plummeting oil prices and the coronavirus pandemic. The majority of 255 legislators attending the...
Read More
A man walks by a closed store during the COVID-19 in Chicago, Thursday, April 30, 2020. Another 3.8 million people filed claims for jobless benefits last week, according to the Labor Department. While that's down from the previous week's 4.4 million, a staggering 30.3 million have applied for unemployment in the six weeks since the coronavirus began taking a wrecking ball to the U.S. job market. (AP Photo/Nam Y. Huh)
May 06, 2020 - 5:26 pm
WASHINGTON (AP) — The economic catastrophe caused by the viral outbreak likely sent the U.S. unemployment rate in April to its highest level since the Great Depression and caused a record-shattering loss of jobs. With the economy paralyzed by business closures, the unemployment rate likely jumped...
Read More
In this April 3, 2020, photo, a man wearing a face mask due to COVID-19 concerns stands outside 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 06, 2020 - 10:53 am
WASHINGTON (AP) — The Treasury Department is detailing how it plans to borrow a record-breaking $2.99 trillion in debt this quarter which will include issuing for the first time since 1986 a 20-year bond. The Treasury faces an unprecedented need for credit because of the trillions of dollars the...
Read More
FILE - In a Friday, May 1, 2020 file photo, NYPD officers walk along a sparsely populated Wall Street, in the Manhattan borough of New York. The devastation rocking the economy becomes more clear by the week with reports continually showing how many million workers have lost their jobs due to the coronavirus outbreak. Wall Street sees that pain, but it already sent the U.S. stock market down by a third more than a month ago on anticipation of that. Now, it’s looking further ahead and sees a future that’s not as bad as this horrific present. That’s why stocks just had their best month in a generation. Whether they’re correct is still to be determined. (AP Photo/John Minchillo, File)
May 04, 2020 - 12:28 pm
NEW YORK (AP) — Is Wall Street blind? The global economy is in shambles, the coronavirus pandemic has killed more than 248,000 worldwide and 30 million Americans have lost their jobs as collateral damage in the fight against COVID-19, with the tallies all rising by the day. Yet, the U.S stock...
Read More
A man wearing a mask depicting American flags jogs past the U.S. Capitol Building, Tuesday, April 28, 2020, in Washington. The U.S. House of Representatives has canceled plans to return next week, a reversal after announcing it a day earlier. (AP Photo/Andrew Harnik)
May 04, 2020 - 11:57 am
WASHINGTON (AP) — The Senate will gavel in Monday as the coronavirus rages while the top House Republican is proposing a “hybrid” reopening for the still-shuttered House as a divided Congress struggles to fully resume during the pandemic. Rep. Kevin McCarthy, the minority leader, suggests the full...
Read More
FILE - In this Thursday, Nov. 2, 2017 file photo, World Rugby Chairman Bill Beaumont speaks beside the Webb Ellis Cup during an interview before the match schedule announcement for the 2019 Rugby World Cup in Tokyo. Bill Beaumont and Agustin Pichot are vying to become chairman of World Rugby amid trying times for the sport because of the coronavirus outbreak and the growing discussion about a global calendar to unify the international game. (AP Photo/Shizuo Kambayashi, File)
May 03, 2020 - 3:49 pm
Confronting and managing an unprecedented financial crisis. Uniting the northern and southern hemispheres in one global calendar. Maintaining the growth of the women’s and sevens games. All while not even knowing exactly when rugby can return following the coronavirus outbreak. Bill Beaumont has...
Read More
FILE - In this Dec. 17, 2019 file photo, U.N. Secretary-General Antonio Guterres attends the UNHCR - Global Refugee Forum at the European headquarters of the United Nations in Geneva, Switzerland. When financial markets collapsed and the world faced its last great crisis in 2008, major powers worked together to restore the global economy, but the COVID-19 pandemic has been striking for the opposite response. The financial crisis gave birth to the leaders’ summit of the Group of 20, the world’s richest countries responsible for 80% of the global economy. But when Guterres proposed ahead of their summit in late March that G-20 leaders adopt a “wartime” plan and cooperate on the global response to suppress the virus, there was no response (Salvatore Di Nolfi/Keystone via AP, File)
May 03, 2020 - 12:46 pm
UNITED NATIONS (AP) — When financial markets collapsed and the world faced its last great crisis in 2008, major powers worked together to restore the global economy, but the COVID-19 pandemic has been striking for the opposite response: no leader, no united action to stop the spread of the new...
Read More
FILE - In this May 5, 2019, file photo Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Buffett will hold a drastically scaled-back version of Berkshire Hathaway's annual meeting on Saturday, May 2, 2020, because of the coronavirus outbreak. No shareholders will be allowed at this year's online meeting, but Buffett will still offer some commentary during a brief question-and-answer session at the event. (AP Photo/Nati Harnik, File)
May 02, 2020 - 9:25 pm
OMAHA, Neb. (AP) — Billionaire investor Warren Buffett doesn't know how or when the economy will recover from the coronavirus outbreak shutdown, but he remains optimistic in the long-term future of the United States. Buffett said Saturday at Berkshire Hathaway's online annual meeting that there's...
Read More
FILE - In this April 21, 2020, file photo Senate Majority Leader Mitch McConnell of Ky., speaks with reporters after the Senate approved a nearly $500 billion coronavirus aid bill on Capitol Hill in Washington. House Speaker Nancy Pelosi shelved a proposal for proxy voting this week after Republicans objected. In the Senate, McConnell rejected a GOP remote vote proposal. He expects Congress to return May 4, as planned. (AP Photo/Patrick Semansky, File)
May 01, 2020 - 2:29 pm
WASHINGTON (AP) — The Senate is set to convene Monday but the health risks from the coronavirus are being laid bare as the Capitol physician says there is no way to quickly test the 100 senators and staff. It's a high-profile snapshot of the national testing shortfall as the Trump administration...
Read More

Pages