Recessions and depressions

A nearly full moon sets over the buildings of the banking district and the European Central Bank, right, in Frankfurt, Germany, early Tuesday, April 7, 2020. Due to the coronavirus the economy worldwide expects heavy losses. (AP Photo/Michael Probst)
1010 WINS Newsroom
April 07, 2020 - 1:48 pm
FRANKFURT, Germany (AP) — The European Central Bank took more emergency action Tuesday to keep credit flowing to companies in the 19 countries that use the euro by easing its rules for lending to banks that serve those businesses. The action comes amid widespread efforts by central banks such as...
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FILE - In this Feb. 6, 2020, file photo, Speaker of the House Nancy Pelosi, D-Calif., talks during a news conference at the Capitol in Washington. President Donald Trump and Pelosi have not spoken in five months at a time when the nation is battling its worst health crisis in a century. (AP Photo/J. Scott Applewhite, File)
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April 06, 2020 - 11:59 pm
WASHINGTON (AP) — Congressional leaders are jolting ahead with another coronavirus rescue package as President Donald Trump indicated Monday that Americans will need more aid during the stark pandemic and economic shutdown. House Speaker Nancy Pelosi said another $1 trillion is needed, beyond the...
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FILE - In this April 4, 2020, file photo, pedestrians pass closed stores on Roosevelt Avenue in the Queens borough of New York. The coronavirus crisis is upending service businesses, and the crisis may permanently change the way Americans work, shop and socialize, even after the disease fades away. (AP Photo/Frank Franklin II, File)
1010 WINS Newsroom
April 06, 2020 - 7:27 pm
WASHINGTON (AP) — For years, personal trainer Amanda Tikalsky didn’t have to worry much about her job. The U.S. economy’s record-breaking 11-year expansion offered security to service workers like her. Then came the coronavirus, which closed the Milwaukee athletic club where she worked for 15 years...
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A food delivery rider passes by a banner reading ' Stronger together, all together we will make it ', in Milan, Italy, Sunday, April 5, 2020. The government is demanding Italians stay home and not take the leveling off of new coronavirus infections as a sign the emergency is over, following evidence that more and more Italians are relaxing restrictions the west’s first and most extreme nationwide lockdown and production shutdown. (Claudio Furlan/LaPresse via AP)
1010 WINS Newsroom
April 06, 2020 - 12:55 pm
FRANKFURT, Germany (AP) — The virus outbreak is exposing cracks in the foundation of Europe's 21-year-old shared currency and festering animosities among its members, even as governments struggle to come up with a unified response where success or failure could mark the continent's politics for...
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Mexican President Andres Manuel Lopez Obrador speaks at the National Palace in Mexico City, Sunday, April 5, 2020. López Obrador spoke to the nation about his economic recovery plan. The President, however, has labeled the situation a "transitory crisis" and says things will be good again soon. Mexico's government has broadened its shutdown of "non essential activities," and prohibited gatherings of more than 50 people as a way to help slow down the spread of COVID-19. (AP Photo / Eduardo Verdugo)
1010 WINS Newsroom
April 05, 2020 - 8:12 pm
MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador said Sunday there will be no huge economic stimulus program as the country faces the threat of coronavirus-induced crisis almost certainly unlike any it has seen in the past century. Instead, the administration will expand social...
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In this April 1, 2020, photo the interior of the TCF Center with temporary hospital rooms is seen inside the convention center in Detroit. In the decade before Michigan and its largest city became the latest hotspot for the deadly coronavirus, officials were steadily cutting back on their first line of defense against pandemics and other health emergencies. Approaching bankruptcy, Detroit disbanded most of its public health department and handed its responsibilities to a private nonprofit. (AP Photo/Carlos Osorio)
1010 WINS Newsroom
April 05, 2020 - 8:19 am
In the decade before Michigan and its largest city became the latest hot spot for the deadly coronavirus, officials were steadily, and at times dramatically, cutting back on their first line of defense against pandemics and other public health emergencies. Approaching bankruptcy, Detroit disbanded...
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Home Depot customers carry their purchases as they leave the store, Friday, April 3, 2020 during the coronavirus pandemic in New York. (AP Photo/Mark Lennihan)
1010 WINS Newsroom
April 03, 2020 - 7:15 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus. ____________ COSTS MOUNT: The pandemic will cost the global economy as much as $4.1...
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1010 WINS Newsroom
April 03, 2020 - 4:20 pm
WASHINGTON (AP) — U.S. long-term mortgage rates fell this week for the second straight week as anxiety has spiraled over devastation to the economy from the coronavirus pandemic. Home-loan rates have been hitting all-time lows. Mortgage buyer Freddie Mac reported Thursday that the average rate on...
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Pat Marmo, owner of Daniel J. Schaefer Funeral Home, walks through a viewing room set up to respect social distancing, Thursday, April 2, 2020, in the Brooklyn borough of New York. He and other funeral directors are seeing a surge of clients because of the coronavirus pandemic. (AP Photo/John Minchillo)
1010 WINS Newsroom
April 02, 2020 - 11:04 pm
NEW YORK (AP) — The coronavirus outbreak has thrown 10 million Americans out of work in just two weeks in the swiftest, most stunning collapse the U.S. job market has ever witnessed, and the public health crisis deepened in New York City, where a funeral home in a hard-hit neighborhood had 185...
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FILE - In this March 13, 2020 file photo, unionized hospitality workers wait in line in a basement garage to apply for unemployment benefits at the Hospitality Training Academy in Los Angeles. More than 6.6 million Americans applied for unemployment benefits last week, far exceeding a record high set just last week, a sign that layoffs are accelerating in the midst of the coronavirus. (AP Photo/Marcio Jose Sanchez, File)
1010 WINS Newsroom
April 02, 2020 - 11:57 am
WASHINGTON (AP) — More than 6.6 million Americans applied for unemployment benefits last week — doubling a record high set just one week earlier — a sign that layoffs are accelerating in the midst of the coronavirus outbreak. Combined with last week's report that 3.3 million people sought...
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