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US trade deficit rises 9.7% in May to $54.6 billion

Paul Wiseman, Associated Press  |  Posted Jul 2nd - 6:45am

The U.S. trade deficit rose for the third straight month in May. Both exports and imports fell as the coronavirus outbreak continued to take a toll on world commerce.

U.S. trade deficit rises 9.7% to $54.6 billion in May; exports and imports fall

The Associated Press  |  Posted Jul 2nd - 6:32am

U.S. trade deficit rises 9.7% to $54.6 billion in May; exports and imports fall.

Unemployment falls to 11.1% as US added a record 4.8 million jobs in June, but pandemic dims outlook for further gains

The Associated Press  |  Posted Jul 2nd - 6:31am

Unemployment falls to 11.1% as US added a record 4.8 million jobs in June, but pandemic dims outlook for further gains.

Tesla 2Q deliveries rise over 1Q despite factory shutdown

Tom Krisher, Associated Press  |  Posted Jul 2nd - 6:17am

Tesla says it delivered more electric vehicles worldwide in the second quarter than it did in the first. The increase came even though coronavirus restrictions forced it to shut down its only U.S. factory for much of the period.

U.S., South Africa report new record coronavirus rises

David Rising and Jake Coyle, Associated Press  |  Posted Jul 2nd - 5:28am

The United States and South Africa have both reported record new daily coronavirus infections, with U.S. figures surpassing 50,000 cases a day for the first time, underlining the challenges still ahead as nations press to reopen their virus-devastated economies.

5 Things to Know for Today

The Associated Press  |  Posted Jul 2nd - 4:15am

a record high — were added, but recent data suggests that a resurgent coronavirus in the U.S. will limit further gains.

Global stocks rise on vaccine hopes, ahead of US jobs data

Joe McDonald, Associated Press  |  Posted Jul 2nd - 3:24am

Global stock markets and Wall Street futures rose Thursday on hopes for the development of a coronavirus vaccine and ahead of the release of monthly U.S. jobs data.

Europe contains jobless rate, but faces summer of discontent

Nicole Winfield and David McHugh, Associated Press  |  Posted Jul 2nd - 3:07am

Europe has limited the rise in unemployment caused by the pandemic with a wide array of government support programs, but that cannot hide widespread economic distress and anxiety among workers and small business owners.

Unemployment rate in 19-country eurozone edges up to 7.4% in May from 7.3% in April amid pandemic

The Associated Press  |  Posted Jul 2nd - 3:02am

Unemployment rate in 19-country eurozone edges up to 7.4% in May from 7.3% in April amid pandemic.

Update on the latest in business:

The Associated Press  |  Posted Jul 2nd - 2:21am

Asian stock markets followed Wall Street higher today as hopes for development of a coronavirus vaccine compete with concern about rising U.S. infections.

China accuses India of targeting Chinese imports after clash

The Associated Press  |  Posted Jul 2nd - 2:03am

China accused India on Thursday of improperly disrupting activities by Chinese companies in the midst of tensions over a bloody clash between forces along their disputed border.

Asia Today: India's virus cases surpass 600,000, curve rises

The Associated Press  |  Posted Jul 2nd - 1:56am

India's number of coronavirus cases passed 600,000 on Thursday with the nation's infection curve rising and its testing capacity being increased.

Landslide at Myanmar jade mine kills at least 123 people

Zaw Moe Htet and Pyae Sone Win, Associated Press  |  Posted Jul 2nd - 1:25am

At least 123 people were killed Thursday in a landslide at a jade mine in northern Myanmar, the worst in a series of deadly accidents at such sites in recent years that critics blame on the government's failure to take action against unsafe conditions.

AM Prep-Cooler Copy

The Associated Press  |  Posted Jul 2nd - 1:05am

The House has easily passed a temporary extension of a subsidy program for small businesses slammed by the coronavirus, speeding the measure to President Donald Trump.

Prep-Segue

Oscar Wells Gabriel Ii, Associated Press  |  Posted Jul 2nd - 1:05am

Fox News isn't disclosing the nature of the sexual misconduct allegations against daytime news anchor Ed Henry. But whatever it is, the network feels it's serious enough to cost him his gig. Fox says it got a complaint a week ago from an attorney about Henry's alleged misconduct. It hired an outside investigator, which provided information Fox says led them to let Henry go. A lawyer for Henry denies the allegations and says his client is confident he'll be cleared if there's a “full hearing in an appropriate forum.” Henry co-anchored “America’s Newsroom.''

California takes step back from reopening amid virus surge

Adam Beam and Kathleen Ronayne, Associated Press  |  Posted Jul 1st - 11:05pm

It was a simple family get-together; a wedding gathering. About 30 people went out to dinner.

The Latest: PM Johnson's father flies to Greece despite ban

The Associated Press  |  Posted Jul 1st - 10:58pm

The father of British Prime Minister Boris Johnson is facing criticism for travelling to Greece despite U.K. government advice against international travel and a Greek ban on flights from Britain.

Black businesses see increased sales amid racial reckoning

Philip Marcelo, Associated Press  |  Posted Jul 1st - 10:01pm

When Mahdi Hashemian was looking for a bicycle for his 7-year-old daughter Zeynab last week, the Cambridge, Massachusetts, resident decided to skip his local cycle shops in favor of a Black-owned one a few miles away in Boston’s Dorchester neighborhood.

US adds 4.8 million jobs as unemployment falls to 11.1%

Christopher Rugaber, Associated Press  |  Posted Jul 1st - 10:01pm

Unemployment fell to 11.1% as the U.S. added a record 4.8 million jobs in June, but the pandemic dims the outlook for further gains.