Recessions and depressions

A currency trader talks near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Wednesday, May 27, 2020. Major Asian stock markets have declined as US-Chinese tension over Hong Kong competes with optimism about recovery from the coronavirus pandemic. (AP Photo/Lee Jin-man)
May 27, 2020 - 2:44 pm
Stock indexes are broadly higher in afternoon trading on Wall Street Wednesday, as hopes for a coming economic revival turn the market's leaderboard upside down. Banks and retailers were posting strong gains on hopes that life can inch back toward normal as governments relax stay-at-home orders,...
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This photo combo shows from left, Lisa Su, president and CEO of AMD, David M. Zaslav, President and Chief Executive Officer of Discovery Communications, General Motors Chairman and Chief Executive Officer Mary Barra, Walt Disney Company Chairman and CEO Robert A. Iger and Netflix Founder and CEO Reed Hastings. The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million in 2019, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.  (AP Photo/File)
May 27, 2020 - 11:08 am
The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation. Median pay for CEOs in the survey climbed 4.1% last year. For the typical...
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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 - 9:42 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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Japan's Prime Minister Shinzo Abe leaves a venue after a news conference in Tokyo Monday, May 25, 2020. Abe lifted a coronavirus state of emergency in Tokyo and four other remaining areas on Monday, ending the restrictions nationwide as businesses begin to reopen. (Kim Kyung-hoon/Pool Photo via AP)
May 25, 2020 - 7:51 am
TOKYO (AP) — Japanese Prime Minister Shinzo Abe lifted a coronavirus state of emergency in Tokyo and four other remaining areas on Monday, ending the restrictions nationwide as businesses begin to reopen. Abe also unveiled a plan for a new stimulus package to support businesses hit by the pandemic...
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In this Tuesday, Feb. 25, 2020 file photo, workers complete an electric car ID.3 body at the assembly line during a press tour at the plant of the German manufacturer Volkswagen AG (VW) in Zwickau, Germany. The German economy shrank by 2,2 percent in the first quarter of the year compared to the same period in 2019 amid a global downturn linked to the coronavirus pandemic. Germany's Federal Statistical Office said Monday that it was the biggest quarterly decline since the 2008-2009 global financial crisis. (AP Photo/Jens Meyer)
May 25, 2020 - 5:00 am
FRANKFURT, Germany (AP) — A key indicator of German business outlooks bounced upward in May as more businesses and activities re-opened — but the index remained far below normal readings as Germany faced a long journey toward full recovery from the coronavirus downturn. Revised official figures...
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A currency trader talks on the phone near the 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, Monday, May 25, 2020. Asian shares are mostly higher, with Tokyo stocks gaining on expectations that a pandemic state of emergency will be lifted for all of Japan. But shares fell in Hong Kong on Monday after police used tear gas to quell weekend protests over a proposed national security bill for the former British colony. (AP Photo/Lee Jin-man)
May 25, 2020 - 4:45 am
TOKYO (AP) — Global shares rose Monday, with Europe tracking gains in Asia despite news that the German economy fell into recession in the first quarter of the year amid the coronavirus pandemic. France's CAC 40 gained 0.8% in early trading to 4,479.60, while Germany's DAX jumped 1.2% to 11,206.26...
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FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)
May 24, 2020 - 1:38 pm
WASHINGTON (AP) — President Donald Trump has a new pitch to voters for this fall: Trust me. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November...
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This image released by Damien Escobar shows Escobar with medical staff at Queens Hospital in the Queens borough of New York. Many people are reaching out to help others during the pandemic, and some say it's helping them regain a sense of control in their lives. Escobar, a contemporary violinist based in New York, has distributed protective equipment to first responders, raising $50,000 from a charity concert. He has pivoted to a new campaign, “Masks for the Masses,” to get masks to the homeless and low-income families. (Damien Escobar via AP)
May 22, 2020 - 1:54 am
NEW YORK (AP) — In April, as the coronavirus was ravaging New York, Susan Jones learned her older brother had been diagnosed with a blood cancer. His supervisor at work launched a GoFundMe page to help with costs, and Jones shared it on Facebook. What happened next stunned her. While Jones, who...
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FILE - In this April 24, 2020, file photo, a man wearing a face mask to help stop the spread of the new coronavirus stands in a middle of a walking street in the Shinjuku ward in Tokyo. Recession-hit Japan's exports plunged nearly 22% in April, the country's worst drop in more than a decade as the coronavirus pandemic slammed global demand, the Finance Ministry said Thursday, May 21, 2020. (AP Photo/Eugene Hoshiko, File)
May 20, 2020 - 10:09 pm
TOKYO (AP) — Recession-hit Japan's exports plunged nearly 22% in April while imports fell 7%, the country's worst drop in more than a decade as the coronavirus pandemic slammed global demand. The drop in exports was the worst since the 2008 financial crisis, as export-dependent Japan struggles to...
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FILE - In this Friday, Feb. 21, 2020 file photo, Dutch Prime Minister Mark Rutte speaks during a media conference at the end of an EU summit in Brussels. European Union leaders are preparing for a new virtual summit, which will take place Thursday, April 23, 2020, to take stock of the damage the coronavirus has inflicted on the lives and livelihoods of the bloc's citizens and to thrash out a more robust plan to revive their ravaged economies. (AP Photo/Olivier Matthys, File)
May 20, 2020 - 9:25 am
THE HAGUE, Netherlands (AP) — Living up to their reputations for budgetary frugality — the Netherlands, Austria, Denmark and Sweden are working on a proposal for a European recovery fund that will have tough conditions attached for countries that seek financial help. And it could derail or water...
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