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Money & Markets

Chaos and scrambling in the US oil patch as prices plummet

NEW YORK — In Montana, a father and son running a small oil business are cutting their salaries in half. In New Mexico, an oil truck driver who supports his family just went a week without pay. And in Alaska, lawmakers have had to dip into the state’s savings as oil revenue dries up. ...

Grocery workers are key during the virus. And they’re afraid

AUSTIN, Texas — Every day, grocery workers are restocking toilet paper, eggs, produce and canned goods as fast as the items fly off the shelves. They disinfect keypads, freezer handles and checkout counters as hundreds of people weave around them, sometimes standing too close for comfort ...

Trump, 3M clash over order to produce more face masks for US

President Donald Trump said Friday his administration will try to stop “profiteers” from exporting medical protective gear, shortly after picking a fight with manufacturing giant 3M, a major producer and exporter of face masks used to protect health care workers from the coronavirus. 3M ...

Memo: Some in US may not get stimulus checks until August

WASHINGTON — The federal government expects to begin making payments to millions of Americans under the new stimulus law in mid-April, but some people without direct deposit information may not get checks until mid-August or later, according to a memo obtained Thursday by The Associated ...

Dairy farmers begin to flush away milk due to coronavirus

WEST BEND, Wis. — Many dairy processing plants across Wisconsin have more product than they can handle and that’s forced farmers to begin dumping their milk down the drain. That’s the case at Golden E Dairy near West Bend. Farmer Ryan Elbe told WISN-TV they are dumping about about ...

A guide to surviving financially as the bills come due

The coronavirus has dealt a financial blow to millions of Americans and now April’s bills are coming due. The good news is there is help available. Reach out immediately to your mortgage lender, student loan servicer or utility provider to see what’s available. Other assistance, such as ...

What you need to do to get your government stimulus check

The IRS and the Treasury Department say Americans will start receiving their economic impact checks in the next three weeks. The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus ...

Macy’s, Kohl’s, Gap to furlough majority of their workers

NEW YORK — Macy’s, Kohl’s and Gap Inc. all said Monday they will stop paying tens of thousands of employees who were thrown out of work when the chains temporarily closed their stores and sales collapsed as a result of the pandemic. Macy’s said the majority of its 125,000 employees ...

Gas is cheap, but for many motorists there’s nowhere to go

DALLAS — U.S. gasoline prices have dropped to their lowest levels in four years, and they are almost sure to go lower as oil prices plunge. Price-tracking services put the national average Monday around $2 a gallon. Some stations were spotted charging under a dollar. But don’t expect a ...

Relief package billions can’t buy hospitals out of shortages

The billions of tax dollars headed for hospitals and states as part of the $2.2 trillion coronavirus response bill won’t fix the problem facing doctors and nurses: a critical shortage of protective gowns, gloves and masks. The problem isn’t a lack of money, experts say. It’s that ...

Trump signs $2.2T stimulus after swift congressional votes

WASHINGTON — President Donald Trump signed an unprecedented $2.2 trillion economic rescue package into law Friday, after swift and near-unanimous action by Congress to support businesses, rush resources to overburdened health care providers and help struggling families during the deepening ...

Washington set to deliver $2.2 trillion virus rescue bill

WASHINGTON — With rare bipartisanship and speed, Washington is about to deliver massive, unprecedented legislation to speed help to individuals and businesses as the coronavirus pandemic takes a devastating toll on the U.S. economy and health care system. The House is set to pass the ...

Highlights of Congress’ economic relief plan

WASHINGTON — Partial highlights of a roughly $2 trillion package to rush aid to businesses, workers and a health care system slammed by the coronavirus pandemic. Details of the package, written by Trump administration officials and Democratic and Republican Senate leaders, were emerging ...

Potential virus treatment granted rare disease status

WASHINGTON — The pharmaceutical giant that makes a promising coronavirus drug has registered it as a rare disease treatment with U.S. regulators, a status that can potentially be worth millions in tax breaks and competition-free sales. What that specialty status will actually mean for the ...

Tensions rise as $2 trillion virus aid stalls in Washington

WASHINGTON — Tensions flared Monday as Washington strained to respond to the worsening coronavirus outbreak, with Congress arguing over a nearly $2 trillion economic rescue package and an impatient President Donald Trump musing openly about letting the 15-day shutdown expire. As the U.S. ...

Whiplash: All at once, a steady US economy screeches to halt

WASHINGTON — Three weeks ago, EmpireCLS was heading toward a second straight year of record business. A car service company in New Jersey, Empire couldn’t even find enough chauffeurs and office workers to meet its needs. Now? With stunning speed, business in the United States — as well ...

Congress toils on $1 trillion rescue

WASHINGTON — As leaders from Congress and the White House toiled in high-stakes negotiations on a mammoth $1 trillion-plus economic rescue package Friday, President Donald Trump unleashed fury on those questioning his handling of the coronavirus outbreak. It was an extraordinary moment in ...

Trump invokes emergency authority

MINNEAPOLIS — President Donald Trump on Wednesday invoked emergency authority to marshal industry to fight the coronavirus, as the economic fallout from the crisis mounted with word that nearly the entire U.S. auto industry is shutting down its North American factories to protect ...

Trump pushes for massive aid from Congress, checks to public

WASHINGTON — In a massive federal effort Tuesday, President Donald Trump asked Congress to speed emergency checks to Americans, enlisted the military for MASH-like hospitals and implored ordinary people — particularly socially active millennials — to do their part by staying home to stop ...

Amazon seeks to hire 100,000 to keep up with surge in orders

NEW YORK — Amazon said Monday that it needs to hire 100,000 people across the U.S. to keep up with a crush of orders as the coronavirus spreads and keeps more people at home, shopping online. The online retailer said it will also temporarily raise pay by $2 an hour through the end of April ...