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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

Dow drops more than 1,000 as outbreak threatens the economy

By ALEX VEIGA and DAMIAN J. TROISE | February 24, 2020

The Dow Jones Industrial Average sank more than 1,000 points as the spread of the new coronavirus threatened wider damage to the global economy. The drop was the worst for the index in two years and wiped out its gains so far in 2020. Nervous investors...

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...

For-profit firm seeking to run .org names makes concessions

By ROBERT JABLON | February 21, 2020

LOS ANGELES (AP) — A private equity firm seeking to buy rights to operate the internet's .org suffix said Friday it will cap price hikes and create an advisory board with veto powers to ease concerns from the nonprofit community.Ethos Capital has offered...

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...

World markets slip on renewed fears over virus outbreak

By JOE McDONALD | February 21, 2020

BEIJING (AP) — Global stock markets slipped on Friday after a spike in new virus cases in South Korea and other countries refueled investor anxiety about China's disease outbreak.Benchmarks in Tokyo, Hong Kong and Sydney closed down and London, Frankfurt...

Global stocks mostly slip as virus weighs on companies

By YURI KAGEYAMA | February 20, 2020

TOKYO (AP) — Global shares mostly dipped Thursday as several companies estimated that the outbreak of the new coronavirus in China will weigh on their earnings.France's CAC 40 edged down 0.2% to 6,099 and Germany's DAX fell 0.2% to 13,765. Britain's...

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...

UK inflation jumps higher, reducing likelihood of rate cut

February 19, 2020

LONDON (AP) — Consumer price inflation in Britain jumped higher in January, official figures showed Wednesday, undermining the case for the central bank to cut interest rates as it had been expected to do.The annual inflation rate rose to 1.8% from...

HSBC cuts headcount by 35,000 in deep overhaul

By DANICA KIRKA and ELAINE KURTENBACH | February 18, 2020

LONDON (AP) — Europe's biggest bank, HSBC, will shed some 35,000 jobs as part of an overhaul to focus on faster-growing markets in Asia and as it tries to cope with a slew of global uncertainties, from Brexit to the trade wars to the new coronavirus.The...

Shares take hit as virus outbreak slams profits, events

By ELAINE KURTENBACH | February 18, 2020

BANGKOK (AP) — Stock markets slipped Tuesday as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target this quarter and China moving to postpone or cancel major events, including the...

Political corruption trial of big N Carolina donor to start

By GARY D. ROBERTSON | February 15, 2020

RALEIGH, N.C. (AP) — An insurance company magnate and two associates go on trial this week on charges they conspired to bribe an elected North Carolina regulator with up to $2 million in campaign money so scrutiny of his businesses would ease.U.S. District...

Negative interest rates turn saving, borrowing upside down

By DAVID McHUGH and CHRISTOPHER RUGABER | February 14, 2020

FRANKFURT, Germany (AP) — Imagine a mortgage that pays you the interest, not the other way around. Or a savings account where it's the bank, not the saver, who collects interest.Welcome to the upside-down world of ultra-low and negative interest rates...