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Northern Star

Northern Illinois University’s student news organization 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...

Stocks sink, Treasury prices soar as investors seek safety

By ALEX VEIGA | February 21, 2020

Stocks fell and bond prices rose sharply on Wall Street Friday amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies.The yield on the 30-year Treasury reached a record low as investors sought the safety...

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...

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...

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...

Argentina and IMF discuss debt in shadow of 2001 crisis

By DÉBORA REY and CHRISTOPHER TORCHIA | February 12, 2020

BUENOS AIRES, Argentina (AP) — Argentina has been here before: recession, growing poverty, high inflation, billions of dollars in debt, a looming deadline for repayment and simmering anger toward the International Monetary Fund.This is a big week for...

Price worries remain after judge OKs T-Mobile’s Sprint deal

By TALI ARBEL | February 11, 2020

NEW YORK (AP) — A federal judge has cleared a major path for T-Mobile to buy Sprint for $26.5 billion, citing T-Mobile's track record in promoting competition, even as legal scholars and consumer advocates warn about higher phone bills.Judge Victor...

More businesses reopen in China, but many people stay home

By JOE McDONALD | February 10, 2020

BEIJING (AP) — More offices and stores in Beijing and other parts of China finally reopened Monday after the Lunar New Year break was extended to discourage travel and contain the new coronavirus, but many workers and shoppers appeared to stay home.Public...

S&P 500 slips for first time this week as momentum stalls

By ALEX VEIGA and STAN CHOE | February 7, 2020

Wall Street closed out the market’s best week in eight months Friday with a broad slide as technology and health care stocks gave back some of their recent gains.The pullback, which followed a sell-off in markets around the world, snapped a four-day...

Turkmenistan to build a $1.5-billion city amid spending cuts

February 4, 2020

ASHGABAT, Turkmenistan (AP) — Turkmenistan's president allocated $1.5 billion to build a new city as the government cuts social spending and the country's economy is weakened by low global energy prices.President Gurbanguly Berdymukhamedov said in a...

UK rates held as Brexit clarity shores up economic surveys

By PAN PYLAS | January 30, 2020

LONDON (AP) — The Bank of England on Thursday opted against cutting interest rates amid signs of improvement in the British economy in the run-up to Britain's imminent departure from the European Union.The bank said in a statement that its Monetary...