Business

FILE - In this Wednesday, March 25, 2020 file photo, American Airlines jets sit idly at their gates as a jet arrives at Sky Harbor International Airport in Phoenix. The Trump administration is raising the possibility of the U.S. government getting ownership stakes in U.S. airlines in exchange for $25 billion in direct grants to help the carriers survive a downturn caused by the coronavirus pandemic, according to people familiar with the matter, Thursday, March 26, 2020. (AP Photo/Matt York, File)
March 27, 2020 - 7:55 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus. ____ UNDER REVIEW: This week, the U.S. reported that a staggering 3.3 million Americans...
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In this March 26, 2020, photo, tourists play on a beach in Phuket, Thailand. Tourists across Asia are finding their dream vacations have turned into travel nightmares as airlines cancel flights and countries close their borders in the fight against the coronavirus pandemic. (AP Photo/Penny Wang)
March 27, 2020 - 7:15 pm
PHUKET, Thailand (AP) — From the sun-soaked beaches of Thailand to the foothills of Mount Everest, tourists across Asia are finding their dream vacations have turned into travel nightmares as airlines cancel flights and countries close their borders in the fight against the coronavirus pandemic...
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In this photo taken Feb. 18, 2020, people walk behind a Pacific Gas and Electric truck parked in San Francisco. The stock market turmoil triggered by the coronavirus pandemic is raising worries that Pacific Gas & Electric's $13.5 billion settlement with victims of catastrophic wildfires may be worth far less by the time the beleaguered company emerges from bankruptcy. A lawyer who represents more than 81,000 wildfire victims flagged the escalating concerns during a Wednesday, March 25, 2020, court hearing held by conference call. (AP Photo/Jeff Chiu)
March 27, 2020 - 5:14 pm
BERKELEY, Calif. (AP) — Pacific Gas & Electric is warning its elaborate plan for getting out of bankruptcy might collapse if the utility can’t pay for its crimes in a deadly Northern California wildfire by taking money away from a fund set up to compensate thousands of victims for their losses...
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March 27, 2020 - 4:42 pm
Microsoft said Friday it is pulling its investments from a facial-recognition startup that scans faces at Israeli military checkpoints, even though the tech giant couldn't substantiate claims that the startup's technology is used unethically. Microsoft late last year hired former U.S. Attorney...
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FILE - In this Tuesday, March 24, 2020 file photo, Gov. Andrew Cuomo speaks during a news conference against a backdrop of medical supplies at the Jacob Javits Center that will house a temporary hospital in response to the COVID-19 outbreak in New York. Cuomo, a Democrat, ripped the GOP-led Senate's version of the coronavirus package as "terrible" for New York and said, based on preliminary reports, that it would send the state some $4 billion in direct aid. (AP Photo/John Minchillo)
March 27, 2020 - 4:42 pm
The coronavirus is pounding state governments with a financial one-two punch, costing them millions to try to contain the disease just as businesses are shutting down and tax revenue is collapsing. The sharp drop in revenue could jeopardize some states' ability to provide basic services. States...
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In this Monday, March 23, 2020, photo, Karen Haley cuts cotton fabric for masks to be given to caregivers during the coronavirus outbreak, at the North Sails shop in Freeport, Maine. The sail-maintenance business has converted part of its operation towards stitching masks instead of sails. Owner Eric Baldwin stitches masks in background. (AP Photo/Robert F. Bukaty)
March 27, 2020 - 3:36 pm
NEW YORK (AP) — On the coast of Maine, Eric Baldwin and his staff of two usually spend their days selling, repairing and washing sails for boats. They transform their surplus sailcloth into tote bags to bring in extra money. But when the coronavirus outbreak slowed business, they turned their...
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President Donald Trump speaks before he signs the coronavirus stimulus relief package in the Oval Office at the White House, Friday, March 27, 2020, in Washington. Listening are from left, Larry Kudlow, White House chief economic adviser, Treasury Secretary Steven Mnuchin, Senate Majority Leader Mitch McConnell, R-Ky., and House Minority Leader Kevin McCarty of Calif. (AP Photo/Evan Vucci)
The Associated Press
March 27, 2020 - 3:33 pm
WASHINGTON (AP) — President Donald Trump signed an unprecedented $2.2 trillion economic rescue package into law Friday, after swift and near-unanimous action by Congress this week to support businesses, rush resources to overburdened health care providers and help struggling families during the...
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FILE - In this Feb. 14, 2020 file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said Friday, March 27, it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. She said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage(AP Photo/Jens Meyer, File)
March 27, 2020 - 2:54 pm
WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in...
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In this image provided by Jay Woods, Woods, a Designated Market Maker with IMC and NYSE Floor Governor, who normally works on the New York Stock Exchange trading floor, works in his home office in Basking Ridge, N.J., Thursday, March 26, 2020. Stocks are opening lower on Wall Street, Friday, March 27, as the market gives back some of the gains it piled up over the past three days. (Shannon Woods/Courtesy Jay Woods via AP)
March 27, 2020 - 1:59 pm
Stocks are lower Friday on Wall Street, erasing part of a huge rally over the past three days. The market is still on track for sizable gains for the week following two weeks of relentless selling. Much of this week's rally was driven by enthusiasm over a historic $2 trillion financial rescue...
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FILE - This March 12, 2020, file photo, shows the national office of the NCAA in Indianapolis. The NCAA will distribute $225 million to its Division I members in June, $375 million less than had been budgeted this year because the coronavirus outbreak forced the cancellation of the men's basketball tournament. (AP Photo/Michael Conroy, File)
March 27, 2020 - 9:51 am
Canceling March Madness because of the coronavirus pandemic will cost the NCAA about $375 million that it would have distributed to 350 schools across the nation. Some will be able to absorb the losses better than others. The NCAA announced Thursday it will distribute $225 million to its Division I...
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