Government finance

Emma Hamlet prepares orders received online to be picked up at the Long Beach Surf Shop store her family owns, Wednesday, May 27, 2020, in Long Beach, N.Y. Long Island has become the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it enters the first phase of the state's four-step reopening process. (AP Photo/Mary Altaffer)
May 27, 2020 - 2:18 pm
NEW YORK (AP) — Long Island became the latest region of New York to begin easing some restrictions put in place to curb the spread of the coronavirus. Gov. Andrew Cuomo lobbied the president for help with transportation projects. New York City Mayor Bill de Blasio said efforts to fight the virus...
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European Commission President Ursula von der Leyen, right, gestures hello to an MEP prior to addressing the European Parliament plenary in Brussels, Wednesday, May 27, 2020. The European Union is to unveil Wednesday a massive coronavirus recovery plan worth hundreds of billions of euros to help countries rebuild their ailing economies, but the bloc remains deeply divided over what conditions should be attached to the funds. (AP Photo/Olivier Matthys)
May 27, 2020 - 7:42 am
BRUSSELS (AP) — The European Union proposed Wednesday a 750 billion-euro ($825 billion) recovery fund to help countries weather a painful recession triggered by the coronavirus and bridge divisions over the conditions that should be attached for access to the money. The fund, to be mostly made up...
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May 26, 2020 - 6:59 pm
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances said Tuesday that the island could be hit with a deficit earlier than expected and see its surplus plunge by 65% in upcoming years, warning the government cannot afford to pay current debt obligations. The...
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Des Moines Area Religious Council Food Pantry worker Patrick Minor pulls a package of ground pork out of a cooler during a pantry stop, Wednesday, May 20, 2020, in Des Moines, Iowa. As food banks have struggled to meet soaring demand from people suddenly out of work because of the coronavirus outbreak, it has been especially troubling to see farmers have to bury produce, dump milk and euthanize hogs. Now some states are spending more money to help pay for food that might otherwise go to waste, the U.S. Agriculture Department is spending $3 billion to help get farm products to food banks, and U.S. senator is seeking $8 billion more to buy farm produce for food banks. (AP Photo/Charlie Neibergall)
May 25, 2020 - 8:03 am
OMAHA, Neb. (AP) — As food banks have struggled to meet soaring demand from people suddenly out of work because of the coronavirus pandemic, it has been especially troubling to see farmers have to bury produce, dump milk and euthanize hogs. Now some states are providing more money to help pay for...
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FILE - In this Oct. 1, 2019, file photo, soldiers from China's People's Liberation Army (PLA) Navy let out a yell as they march in formation during a parade to commemorate the 70th anniversary of the founding of Communist China in Beijing. China will boost defense spending by just 6.6% in 2020, the lowest rate in years as it battles an economic crisis brought on by the coronavirus outbreak, the government said Friday, May 22, 2020. (AP Photo/Mark Schiefelbein, File)
May 21, 2020 - 10:00 pm
BEIJING (AP) — China will increase its defense spending by 6.6% in 2020, the lowest rate in years as it battles an economic crisis brought on by the coronavirus outbreak, the government said Friday. The figure is down from the double-digit percentage increases of just a few years ago that have...
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FILE - In this March 30, 2020, file photo, a man jogs past the Olympic rings in Tokyo. Tokyo Olympic CEO Toshiro Muto talked Thursday, May 21, about the need to take “countermeasures” to combat COVID-19 at next year's postponed games. (AP Photo/Jae C. Hong, File)
May 21, 2020 - 7:44 pm
DENVER (AP) — The U.S. Olympic and Paralympic Committee is eliminating 51 positions and furloughing 33 more as part of a dramatic cut in staffing designed to trim up to 20% of its budget to respond to shortfalls caused by the coronavirus pandemic. “I am overwhelmed by the magnitude of this change...
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This April 16, 2020 photo shows a real estate company sign that marks a home for sale in Harmony, Pa. U.S. new home sales plunged 15.4% in March as the lockdowns that began in the middle of the month began to rattle the housing market. The Commerce Department reported Thursday, April 23, that sales of new single-family homes dropped to a seasonally ajdjusted annual rate of 627,000 last month after sales had fallen 4.6% in February. (AP Photo/Keith Srakocic)
May 21, 2020 - 8:04 am
WASHINGTON (AP) — Sales of existing homes plunged 17.8% in April with the real estate market still in the grips of the coronavirus pandemic. The National Association of Realtors said Thursday that last month's decline pushed sales down to a seasonally adjusted annual rate of 4.33 million units, the...
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People sit at a cafe in Milan, Italy, Monday, May 18, 2020. On Monday, Italians enjoyed a first day of regained freedoms, including being able to sit down at a cafe or restaurant, shop in all retail stores or attend church services such as Mass. (Marco Alpozzi/LaPresse via AP)
May 20, 2020 - 4:30 am
BRUSSELS (AP) — The European Union signaled Wednesday that it will not punish member countries for breaking the bloc’s deficit rules to tackle the coronavirus but that it could condition their access to sorely-needed recovery funds on them following its advice on how to manage their budgets. The 27...
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German Chancellor Angela Merkel speaks during a press conference following a joint video conference with French President Macron in Berlin, Germany, Monday, May 18, 2020. One topic was the Corona Pandemic and its consequences. (Kay Nietfeld/dpa via AP)
May 19, 2020 - 7:15 am
FRANKFURT, Germany (AP) — Germany’s agreement to share debt with other EU countries to finance an economic recovery plan is being greeted as an overdue sign of unity in the face of the worst downturn the bloc has ever seen. Chancellor Angela Merkel broke with her country’s longstanding opposition...
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German Chancellor Angela Merkel talks to French President Emmanuel Macron, connected by video, during a press conference after a joint video conference in Berlin, Germany, Monday, May 18, 2020. One topic was the corona pandemic and its consequences. (Kay Nietfeld/dpa via AP)
May 18, 2020 - 11:57 am
BERLIN (AP) — The leaders of Germany and France agreed Monday on a one-off 500 billion-euro ($543 billion) fund to help the European Union recover from the coronavirus pandemic, a proposal that would add further cash to an arsenal of financial measures the bloc is readying to cope with the outbreak...
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