Financial related news.
UNITED NATIONS — 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 coronavirus, which has killed more than [...]
NEW YORK (AP) — Is Wall Street blind? The global economy is in shambles, the coronavirus pandemic has killed more than 237,000 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 stock market just rocketed to its [...]
WASHINGTON (AP) — Devastated by the coronavirus, the economy is sinking — and the plunge is accelerating. Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the year. [...]
JEFFERSON CITY, Mo. (AP) — A surge in unemployment stemming from the coronavirus shutdown of large parts of the U.S. economy is starting to push some state jobless funds toward insolvency. At least a half-dozen states already have notified the federal government that they could need to borrow billions of dollars to pay unemployment benefits [...]
HARTFORD, Conn. (AP) — Thelma Uranga is sprucing up her back deck in Chicago, hoping to host some small gatherings to take the place of the summer's usual neighborhood festivals built on music, food and time with friends. "People look forward to summer because winter tends to feel like an eternity," said Uranga, 38. "We [...]
Stock market crashes don't just test investors' mettle. Abrupt downturns also can reveal what kind of financial adviser you have. Some people will discover, to their horror, that they've been dealing with outright crooks. Ponzi schemes are among the cons that fall apart when markets do, as investors try to pull their money out and [...]
Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn't. Transferring your house to your kids while you're alive may avoid probate, the court process that otherwise follows death. But gifting a home also can result in a big, unnecessary [...]
Many Americans are struggling financially due to the coronavirus. A recent federal relief package makes it easier for people financially harmed by the coronavirus outbreak to tap into their retirement savings for cash by loosening rules for withdrawals and loans. But should they use them? Experts say it's an option of last resort and should [...]
NEW YORK — A fire hose of cash that's rained trillions of dollars on to those fortunate enough to own stocks is suddenly being choked off. Profits for U.S. companies piled up in recent years thanks to a strengthening economy, low interest rates and a big tax cut. And every three months, CEOs have been [...]
NEW YORK (AP) — The nation’s major banks are anticipating a flood of loan defaults as households and business customers take a big financial hit from the coronavirus pandemic. Bank of America and Citigroup said Wednesday that their profits sank more than 40 percent in the first quarter as both set aside billions for potentially [...]