Economic policy

A man walks past a banner showing Saudi King Salman, right, and his Crown Prince Mohammed bin Salman, outside a mall in Jiddah, Saudi Arabia, Saturday, March 7, 2020. (AP Photo/Amr Nabil)
March 19, 2020 - 3:57 am
DUBAI, United Arab Emirates (AP) — Saudi Arabia said the government will cut spending by 5%, or about $13.3 billion, to offset the impact of plunging oil prices and the effects of the new coronavirus on its economic outlook and deficit. In a statement carried by the state-run Saudi Press Agency...
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Signs hang in the ticket window of a movie theater notifying customers that it is closed, Monday, March 16, 2020 in New York. New York state entered a new phase in the coronavirus pandemic Monday joining with Connecticut and New Jersey to close bars, restaurants and movie theaters starting Monday night. The governors said restaurants and bars will move to take-out and delivery services only. The three states also will limit crowd capacity for social and recreational gatherings to 50 people, effective 8 p.m. (AP Photo/Yuki Iwamura)
March 18, 2020 - 6:51 pm
NEW YORK (AP) — Faced with a lengthy shutdown due the coronavirus pandemic, movie theaters are requesting relief from the U.S. government. The National Association of Theater Owners, the trade group that represents most of the industry's cinemas, said Wednesday that it's asking for immediate...
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President Donald Trump speaks during a meeting with tourism industry executives about the coronavirus, in the Cabinet Room of the White House, Tuesday, March 17, 2020, in Washington. (AP Photo/Evan Vucci)
March 18, 2020 - 8:47 am
WASHINGTON (AP) — President Donald Trump has sent lawmakers a $46 billion emergency funding request to help the government fight the coronavirus and to reverse cuts proposed just last month to the Centers for Disease Control, the front-line agency in fighting the battle. The huge request, delivered...
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A taxi driver reacts as they wait to show their ID and car documents to police who instructed them to stop operations while the government implements localized quarantining as a precautionary measure against the spread of the new coronavirus in Manila, Philippines, early Tuesday, March 17, 2020. For most people, the new coronavirus causes only mild or moderate symptoms. For some, it can cause more severe illness, especially in older adults and people with existing health problems. (AP Photo/Aaron Favila)
AP News
March 18, 2020 - 5:58 am
Your daily look at late-breaking news, upcoming events and the stories that will be talked about today: 1. ‘WE ARE AT WAR’ World leaders grapple with how to implement border closures, travel restrictions and lockdowns that have unleashed transportation chaos and imperiled economies to slow the...
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Mike Mastrian, Director of the Senate Radio and Television Gallery, cleans down the podium before a news conference with Senate Majority Leader Mitch McConnell of Ky., on Capitol Hill in Washington, Tuesday, March 17, 2020. (AP Photo/Susan Walsh)
AP News
March 17, 2020 - 10:06 pm
WASHINGTON (AP) — In a massive federal effort Tuesday, President Donald Trump asked Congress to speed emergency checks to Americans, enlisted the military for MASH-like hospitals and implored ordinary people — particularly socially active millennials — to do their part by staying home to stop the...
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Judie Shape, center, who has tested positive for the coronavirus, but isn't showing symptoms, presses her hand against her window after a visit through the window and on the phone with her daughter Lori Spencer, left, and her son-in-law Michael Spencer, Tuesday, March 17, 2020, at the Life Care Center in Kirkland, Wash., near Seattle. In-person visits are not allowed at the nursing home, which is at the center of the outbreak of the new coronavirus in the United States. (AP Photo/Ted S. Warren)
AP News
March 17, 2020 - 8:47 pm
BERLIN (AP) — Mass disruptions shuddered across the globe Tuesday as governments struggled to slow the spread of the coronavirus while also trying to keep their economies afloat. The chaos stretched from Lithuania, where border traffic jams were nearly 40 miles (64 kilometers) deep, to Detroit,...
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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)
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...
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President Donald Trump speaks during a press briefing with the coronavirus task force, in the Brady press briefing room at the White House, Monday, March 16, 2020, in Washington. (AP Photo/Evan Vucci)
AP News
March 17, 2020 - 1:35 pm
WASHINGTON (AP) — Ahead of an expected surge in coronavirus cases, President Donald Trump on Tuesday moved to blunt the impact of the pandemic on the U.S. economy, fundamentally altered by a push for a nation to stay home. As the global markets fluctuated amid fears of a recession, the president...
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Trader Peter Tuchman works on the floor of the New York Stock Exchange Monday, March 16, 2020. (AP Photo/Craig Ruttle)
AP News
March 17, 2020 - 12:07 am
BANGKOK (AP) — Shares reversed early losses in Asia on Tuesday after the U.S. stock market plunged to its worst day in more than three decades and huge swaths of many economies came to a standstill as businesses and travel shut down due to the virus outbreak. Tokyo's Nikkei 225 reversed early...
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FILE - In this May 8, 2019, file photo, New Zealand's Reserve Bank Governor Adrian Orr speaks to the media in Wellington, New Zealand. New Zealand's central bank on Monday, March 16, 2020 cut the benchmark interest rate to a record low 0.25%. The cut of 0.75% came outside of the bank's normal schedule for changing rates. The Reserve Bank of New Zealand said in a statement that the negative impact of the pandemic on the New Zealand economy will be significant. For most people, the new coronavirus causes only mild or moderate symptoms. For some, it can cause more severe illness, especially in older adults and people with existing health problems. (AP Photo Nick Perry, File)
March 16, 2020 - 10:56 pm
WELLINGTON, New Zealand (AP) — New Zealand's government said Tuesday it would spend billions of dollars supporting hard-hit companies as it tries to shore up an economy headed for recession because of the coronavirus. The stimulus package is equivalent to 4% of GDP. A large chunk of the new...
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