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Northern Star

Northern Illinois University’s student media since 1899

 

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The Student News Site of Northern Illinois University

Northern Star

The Student News Site of Northern Illinois University

Northern Star

Markets tank on concern about virus impact on world economy

By ELAINE KURTENBACH | February 24, 2020

BANGKOK (AP) — Shares skidded, oil prices sank and the price of gold surged on Monday as the number of people infected or killed by the viral outbreak that began in China surged, heaping more uncertainty on the economic outlook.The decline promises...

Fed officials downplay virus even as markets see rate cuts

By CHRISTOPHER RUGABER | February 21, 2020

WASHINGTON (AP) — When Wall Street expects the Federal Reserve to cut interest rates, should that influence the Fed's decisions?Two Fed officials diverged on that issue in remarks Friday at a monetary policy conference in New York. The disagreement...

Asian stocks mixed after Wall Street rises to record

By YURI KAGEYAMA | February 19, 2020

TOKYO (AP) — Shares were mixed Thursday in Asia after Wall Street recovered to record highs, but worries persist about damage to the regional economy from the new virus that began in China.Japan's benchmark Nikkei 225 gained 0.3% to 23,474.78, shedding...

Businesses struggle to fix supply chains disrupted by virus

By PAUL WISEMAN, ANNE D'INNOCENZIO, and DAVID KOENIG | February 11, 2020

WASHINGTON (AP) — Chinese authorities are struggling to strike a delicate balance between containing a viral outbreak and restarting the world’s second-biggest economy after weeks of paralysis.As the death toll from the newly named COVID-19 illness...

Global stock turn higher as investors watch virus impact

By JOE McDONALD | February 11, 2020

BEIJING (AP) — Global stock markets turned higher on Tuesday, at least temporarily shaking off jitters about China's virus outbreak.Indexes in London and Frankfurt advanced in Europe, while Shanghai, Hong Kong and Seoul closed higher. Tokyo fell for...

Trump’s $4.8 trillion budget proposal revisits rejected cuts

By ANDREW TAYLOR | February 10, 2020

WASHINGTON (AP) — President Donald Trump unveiled a $4.8 trillion election year budget plan on Monday that recycles deep, previously rejected cuts to domestic programs like food stamps, Medicaid, and housing as the recipe for wrestling the federal budget...

Economic impact of virus widens as Ericsson exits trade show

By The Associated Press | February 7, 2020

BEIJING (AP) — More than a month after the outbreak of China's deadly virus, the economic damage is being felt by more businesses and is threatening the outlook for the global economy.In a report Friday, the Federal Reserve warned that the virus represents...

Companies offer rebuke of Tennessee’s anti-LGBT adoption law

By JONATHAN MATTISE | February 5, 2020

NASHVILLE, Tenn. (AP) — Almost three dozen big companies and more than 100 small businesses in Tennessee on Wednesday predicted economic backlash from a newly enacted state adoption law and other proposals that target LGBT people, with one company saying...

Hyundai halts Korea output as China outbreak fallout spreads

By PAUL WISEMAN and ANNE D'INNOCENZIO | February 4, 2020

WASHINGTON (AP) —Hyundai Motors is suspending production in South Korea, a sign that the economic fallout from China's viral outbreak is spreading.For other companies bracing for losses from coronavirus, the damage has so far been delayed, thanks to...

Asia shares gain, Shanghai up slightly after Wall St rebound

By ELAINE KURTENBACH | February 3, 2020

BANGKOK (AP) — Shares advanced in Asia on Tuesday, with the Shanghai Composite up 0.2% after a rebound on Wall Street overnight.Markets were still far from giving the all-clear on the virus outbreak that has spread to more than 20 countries and killed...

Caterpillar 4Q profit rises despite sales decline

January 31, 2020

Caterpillar put a lid on costs in the fourth quarter, pushing profits higher despite an 8% decline in revenue.The strong profits, however, were overshadowed by an uncertain take on the year ahead with global growth slowing.Shares slipped $1.06 to $134.31...

India projects rosy economic growth next year after slump

By ASHOK SHARMA | January 31, 2020

NEW DELHI (AP) — India’s government projects the economy will grow up to 6.5% in the next fiscal year, starting in April, and hopes to follow China's example in developing labor intensive industries and exports.An economic survey for 2019-20 presented...