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NEW YORK (AP) -- Macy's says it will temporarily stop paying tens of thousands of employees who were thrown out of work when the chain closed its stores in response to collapsing sales during the pandemic.

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed as it continues to spread across the world. Here is a look at some of the latest developments Thursday related to the global economy, particular economic sectors, and the workplace:

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed as it continues to spread across the world. Here is a look at some of the latest developments Wednesday related to the global economy, particular economic sectors, and the workplace:

The number of confirmed cases of the new coronavirus worldwide surpassed 200,000 for the first time Wednesday and the damage being seeded in the global economy is growing more clear by the day. Furloughs and job cuts, from dog walkers to oilfield workers, have begun. Governments around the w…

FRANKFURT, Germany (AP) -- Volkswagen said Tuesday it would close most of its European plants for two weeks due to uncertainty about demand for cars and supplies of parts amid the virus outbreak and said it wasn't possible to give a reliable outlook for this year's profits.

Global markets and businesses big and small opened the week to a landscape seemingly altered by the coronavirus pandemic. National retail chains have closed all stores. Banks are taking steps to keep cash on hand, lots of it. Markets in Asia, Europe and the U.S. are plunging. Following is a …

Seven weeks after the first case of COVID-19 was confirmed in the U.S., the outbreak is now classified as a pandemic and it's doing widespread damage to critical economic sectors of the global economy. Airlines are dropping routes because people are not flying, workers are staying home, publ…

Seven weeks after the first case of COVID-19 was confirmed in the U.S., the spread of the virus that causes the disease has done widespread damage to critical economic sectors in the country. Airlines are cutting capacity, people are working from home, major public events that raise millions…

NEW YORK (AP) -- U.S. companies buffeted by supply chain chaos and a growing awareness of the scope of a viral outbreak are facing new threats to begin the week. An oil war between Saudi Arabia and Russia sent the price for a barrel of U.S. crude below $34. Typically, falling energy prices a…

VIENNA (AP) -- OPEC and key ally Russia failed to agree Friday on a cut to oil production that would have contained the plunge in the price of crude caused by the new coronavirus  outbreak's massive disruption to world business.

NEW YORK (AP) -- PUBLIC FORUMS: The 189-nation International Monetary Fund and its sister lending organization, the World Bank, announced Tuesday that they will replace their regular spring meetings in Washington with a "virtual format" in response to the coronavirus.

NEW YORK (AP) -- Morgan Stanley, the investment bank for millionaires, big business and megamergers, is buying E-Trade Financial, the online brokerage that encouraged waves of regular investors to get into the market with ads featuring its talking spokesbaby.

NEW YORK (AP) -- Victoria's Secret, which once defined sexy with its leggy supermodels prancing around in their bras and oversized angel wings, is being sold as women increasingly look for styles that more realistically fit their body type.

Two top executives at newspaper publisher Tribune are stepping down as the company deals with its largest shareholder, a hedge fund known for cutting newsroom jobs, and grapples with a decline in revenue as the print-ad business shrinks.

DETROIT (AP) -- General Motors decision to pull out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don't produce adequate returns on investments raised dismay Monday from officials concerned over job losses.

NEW YORK (AP) -- McClatchy, the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers, has filed for bankruptcy protection as it struggles to pay off debt while revenue shrinks because more readers and advertisers are going online.

FRANKFURT, Germany (AP) -- Daimler AG, maker of Mercedes-Benz cars, saw profit slump in 2019 and turned in a loss for the fourth quarter, underlining the pressures on the auto industry from economic headwinds and the need to invest in electric cars to meet tougher European Union limits on gr…

COPENHAGEN, Denmark (AP) -- Swedish automaker Volvo Cars and its owner Chinese automaker Geely Holding said Monday they are considering combining their businesses to create a company that "would accelerate financial and technological synergies between the two companies."

Two top executives at newspaper publisher Tribune are stepping down as the company deals with its largest shareholder, a hedge fund known for cutting newsroom jobs, and grapples with a decline in revenue as the print-ad business shrinks.

WASHINGTON (AP) -- For the first time in years, Federal Reserve officials will hold their latest policy meeting this week feeling broadly satisfied with where interest rates are and with seemingly no inclination to change them anytime soon.

FRANKFURT, Germany (AP) -- Germany's Daimler AG, maker of Mercedes-Benz cars, saw operating earnings fall by half in 2019 as its flagship luxury brand suffered in a tougher global market, and due to more expenses tied to regulatory and legal issues with diesel cars.

NEW YORK (AP) -- Express, a staple in U.S. malls, will close about 100 stores as part of a restructuring plan as the chain grapples with drastic changes in where people spend their shopping dollars.