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Articles written by Paul Wiseman

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As small businesses await new US aid, it's too late for some

NEW YORK (AP) - Clay Reynolds is starting to make peace with a gut-wrenching reality: He may have to once again close his business, Arrichion Hot Yoga and Circuit Training. The $900 billion pandemic relief package that Congress has just approved...

 

US layoffs remain elevated as 803,000 seek jobless aid

WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the U.S. economy into...

 

From restaurants to retailers, virus transformed economies

NEW YORK (AP) — It would be just a temporary precaution. When the viral pandemic erupted in March, employees of the small insurance firm Thimble fled their Manhattan offices. CEO Jay Bregman planned to call them back soon — as soon as New York...

 

EXPLAINER: 5 key takeaways from the November jobs report

WASHINGTON (AP) — Evidence was abundant in the November jobs report that the U.S. economy's tentative recovery is sputtering as coronavirus cases accelerate and federal aid runs out. Hiring slowed sharply. Hundreds of thousands of people gave up...

 

US jobless claims rise to 778,000 as pandemic worsens

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to 778,000, evidence that the U.S. economy and job market remain under strain as coronavirus cases surge and colder weather heighten the risks. The Labor De...

 

Top CEOs met to plan response to Trump's election denial

WASHINGTON (AP) — Only a few of America's CEOs have made public statements about President Donald Trump's refusal to accept his election loss, but in private, many are alarmed and talking about what collective action would be necessary if they see...

 

Insider Q&A: Why US economy needs more aid from Washington

WASHINGTON (AP) — The U.S. economy is expected to rebound from a disastrous spring. Paralyzed by the coronavirus, economic output collapsed at a 31.4% annual pace from April through June — the worst such plunge on records dating to 1947. Growth...

 

Trump trade policy: 4 years of high drama. Limited results.

WASHINGTON (AP) — President Donald Trump spent four years upending seven decades of American trade policy. In what became his defining economic act, Trump launched a trade war with China. On another front, he taxed the steel and aluminum of U.S....

 

5 takeaways from NY Times report on Trump's tax returns

WASHINGTON (AP) — A New York Times report that President Donald Trump paid just $750 in federal income tax the year he entered the White House — and, thanks to colossal losses, no income tax at all in 11 of the 18 years that the Times reviewed...

 

AP Explains: US debt will soon exceed size of entire economy

WASHINGTON (AP) — The U.S. government's war against the coronavirus is imposing the heaviest strain on the Treasury since America's drive to defeat Nazi Germany and imperial Japan three-quarters of a century ago. The Congressional Budget Office...

 

US relief checks begin arriving as economic damage piles up

WASHINGTON (AP) — Government relief checks began arriving in Americans' bank accounts as the economic damage to the U.S. from the coronavirus piled up Wednesday and sluggish sales at reopened stores in Europe and China made it clear that business...

 

Virus-related shutdowns bringing US economy to grinding halt

AUSTIN, Texas (AP) — It took 15 minutes for the coronavirus to wreck Shelley Hutchings' carefully calculated financial plans. Hutchings, a bartender and performer, had lined up gigs in advance of the South by Southwest film, music and technology...

 

Anxiety grips companies across the world as virus spreads

WASHINGTON (AP) — Since breaking out of China, the coronavirus has breached the walls of the Vatican. It's struck the Iranian holy city of Qom and contaminated a nursing home in Seattle. And around the world, it's carrying not just sickness and...

 

Outbreak starts to look more like worldwide economic crisis

NEW YORK (AP) — The coronavirus outbreak began to look more like a worldwide economic crisis Friday as anxiety about the infection emptied shops and amusement parks, canceled events, cut trade and travel and dragged already slumping financial...

 

For businesses, virus in China fans fear and uncertainty

China's worst health crisis in years has sparked fear and uncertainty for businesses from North America to Asia that depend on trade in the affected region. Experts say it's too soon to know how disruptive the crisis will prove. But it's already...

 

Emphasis on US exports, trade secrets in China trade deal

WASHINGTON (AP) — The United States and China reached a trade deal Wednesday that eases tensions between the world's two biggest economies, offers massive export opportunities for U.S. farms and factories, and promises to do more to protect...

 

How US-China trade deal achieved a little but left out a lot

WASHINGTON (AP) — The limited trade deal that the Trump administration and Beijing announced Friday means Americans will avoid a holiday tax increase on imported toys, clothing and smartphones. U.S. farmers can sell more soybeans and pork to...

 

Business economists see US slowing but avoiding recession

WASHINGTON (AP) — The nation's business economists expect U.S. economic growth to decelerate this year and next but for the economy to avoid stumbling into recession, extending a record-breaking expansion already in its 11th year. The latest...

 

World trade without rules? US shuts down WTO appeals court

GENEVA (AP) — Global commerce will lose its ultimate umpire Tuesday, leaving countries unable to reach a final resolution of disputes at the World Trade Organization and instead facing what critics call "the law of the jungle.'' The United States,...

 

US-China issues of dispute remain vast despite trade truce

WASHINGTON (AP) — The Trump administration and China declared a temporary truce Friday in their 15-month trade war. Yet the grievances that led them to impose tariffs on hundreds of billions of dollars of each other's goods remain largely...

 

AP FACT CHECK: Trump's fact-challenged week over impeachment

WASHINGTON (AP) — Facing an impeachment inquiry, President Donald Trump is turning to a familiar playbook to defend himself: attacking his investigators , blasting the inquiry as illegal and deriding the process as all-but-rigged. Many facts are...

 

Friendly fire: In trade fights, Trump targets US allies, too

WASHINGTON (AP) — President Donald Trump has risked turmoil in the financial markets and damage to the U.S. economy in waging his trade war with China, America's top strategic rival. But Trump hasn't exactly gone easy on America's friends, either....

 

'They're on,' Trump says of tariffs set to kick in on Sunday

WASHINGTON (AP) — Expect a direct hit on many U.S. consumers from President Donald Trump's latest round of tariffs on Chinese imports. He had no intention of pulling back on import taxes set to kick in Sunday. "They're on. They're on," the...

 

As global economic picture dims, solutions seem out of reach

WASHINGTON (AP) — As global leaders gather on two continents to take account of a darkening economic outlook, this is the picture they face: Factories are slumping, many businesses are paralyzed, global growth is sputtering and the world's two...

 

Trump raises tariffs on Chinese goods as trade war escalates

WASHINGTON (AP) — President Donald Trump angrily escalated his trade fight with China on Friday, raising retaliatory tariffs and ordering American companies to consider alternatives to doing business there. He also blamed Jerome Powell, the man he...

 

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