Banking and credit

The buildings of the banking district are seen in Frankfurt, Germany, early Tuesday, April 14, 2020. Due to the coronavirus the economy expects worldwide heavy losses. (AP Photo/Michael Probst)
Associated Press
April 14, 2020 - 9:29 am
WASHINGTON (AP) — Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. The IMF said Tuesday that it expects the global economy to shrink 3% this year — far...
Read More
FILE - In this April 3, 2020, file photo, the seats and aisles are empty as seen through the window of the closed Penndot Drivers License Center in Butler, Pa. Some owners who got their money said they're now feeling more confident about being able to retain their employees after businesses closed due to the coronavirus outbreak. (AP Photo/Keith Srakocic, File)
Associated Press
April 13, 2020 - 7:47 pm
NEW YORK (AP) — The flow of money to small businesses under the government's $349 billion coronavirus relief plan is picking up momentum although many company owners are still waiting and wondering. Money that was held up by technological and legal issues and the sheer volume of applications began...
Read More
A currency trader walks by 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, Tuesday, March 24, 2020. Asian stock markets gained Tuesday after the U.S. Federal Reserve promised support to the struggling economy as Congress delayed action on a $2 trillion coronavirus aid package. (AP Photo/Lee Jin-man)
Associated Press
March 24, 2020 - 4:12 pm
NEW YORK (AP) — Stocks surged on Wall Street Tuesday, sending the Dow up more than 2,100 points, biggest-ever point gain, as Congress nears a deal to inject $2 trillion into the economy to mitigate damage from the coronavirus outbreak. The Dow's gain of 11.4% was its largest percentage increase...
Read More
FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs. The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak. (AP Photo/Jacquelyn Martin, File)
Associated Press
March 23, 2020 - 2:41 pm
WASHINGTON (AP) — The Federal Reserve is unleashing its boldest effort yet to protect the U.S. economy from the coronavirus by helping companies and governments pay their bills and survive a devastating crisis. With lending in Treasury and mortgage markets threatening to shut down, the Fed...
Read More
FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference in Washington. The Federal Reserve says it will buy short-term loans from banks and companies to support the flow of credit as the economy grinds to a halt amid the viral outbreak. The Fed is reviving a program that it first used during the 2008 financial crisis to unclog a short-term lending market for what is known as “commercial paper.” (AP Photo/Jacquelyn Martin, File)
Associated Press
March 17, 2020 - 7:19 pm
WASHINGTON (AP) — The Federal Reserve put in motion two emergency lending programs Tuesday that were last deployed in response to the 2008 financial crisis, aiming to ease the flow of credit to businesses and households struggling amid the viral outbreak. The first, announced mid-morning, is...
Read More
Trader Gregory Rowe, center, and others work on the floor of the New York Stock Exchange Monday, March 16, 2020. (AP Photo/Craig Ruttle)
Associated Press
March 16, 2020 - 11:20 pm
NEW YORK (AP) — Shares fell in most Asian markets on Tuesday after the U.S. stock market plunged to its worst day in more than three decades. Monday's 12% drop for the S&P 500 came as voices from Wall Street to the White House said the coronavirus may be dragging the economy into a recession...
Read More
Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, while discussing an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus "poses evolving risks to economic activity." (AP Photo/Jacquelyn Martin)
Associated Press
March 15, 2020 - 7:51 pm
WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds. The Fed’s surprise announcement signaled its worry that...
Read More
The display board with the curve of the DAX photographed behind a pictogram for a fire extinguisher in the trading room of the Stock Exchange in Frankfurt, Germany, Thursday, March 12, 2020. This was again triggered by concerns about the economic consequences of the coronavirus pandemic. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (Boris Roessler/dpa via AP)
Associated Press
March 15, 2020 - 12:37 pm
FRANKFURT, Germany (AP) — When the global economy melted down in 2008, world leaders swiftly created an international forum to boost economies by spending more and keeping trade open. Central banks announced rate cuts within seconds of each other. But so far, nations' approach to the economic shock...
Read More
A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, March 13, 2020. Shares have plunged in Asia, with Japan’s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. (AP Photo/Eugene Hoshiko)
Associated Press
March 13, 2020 - 12:30 am
BANGKOK (AP) — Shares plunged in Asia on Friday, with benchmarks in Japan, Thailand and India sinking as much as 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and...
Read More
Michael Conlon, center, works with fellow traders on the floor of the New York Stock Exchange, Thursday, March 12, 2020. Stocks are sharply lower after resuming trading as traders fear that not enough is being done to contain the economic damage from the coronavirus pandemic. (AP Photo/Richard Drew)
Associated Press
March 12, 2020 - 1:49 pm
NEW YORK (AP) — The Latest on the action in the financial markets (all times local): 1:30 p.m. European stock markets have had one of their worst days in history. The Stoxx Europe 600 index, which measures major stocks across the region, fell 11.5% on Thursday, its worst day on record. It eclipsed...
Read More

Pages