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Money & Markets

States strain to carry out Trump order on unemployment aid

RICHMOND, Virginia — Governors and state labor department officials were scrambling Monday to determine whether they could implement President Donald Trump’s executive order to partially extend unemployment assistance payments to millions of Americans struggling to find work in the ...

Virus talks on brink of collapse, sides still ‘far apart’

WASHINGTON — Washington talks on vital COVID-19 rescue money are teetering on the brink of collapse after a marathon meeting in the Capitol Thursday night generated a wave of recriminations but little progress on the top issues confronting negotiators. “There’s a handful of very big ...

Progress slow as urgency grows on virus relief legislation

WASHINGTON — Frustrated Senate Republicans re-upped their complaints Tuesday that Democratic negotiators are taking too hard a line in talks on a sweeping coronavirus relief bill, but an afternoon negotiating session brought at least modest concessions from both sides, even as an agreement ...

Progress slow on virus relief bill as negotiations continue

WASHINGTON — Negotiators on a huge coronavirus relief bill reported slight progress after talks resumed Monday afternoon in the Capitol, with issues like food for the poor and aid to schools struggling to reopen safely assuming a higher profile in the talks. Multiple obstacles remain, ...

Trump, GOP suggest temporary fix for $600 jobless benefit

WASHINGTON — The White House and some of its Republican allies in the Senate are signaling they want to extend, at least temporarily, a $600-per-week expanded jobless benefit that has helped keep families and the economy afloat during the COVID-19 pandemic. The move looks to be too little, ...

Record economic plunge, bleak jobs numbers reveal virus toll

WASHINGTON — The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9 percent annual rate last quarter and is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating. The ...

GOP’s jobless benefit plan could mean delays, states warn

A Republican proposal to slash the $600 weekly benefit boost for those left jobless because of the coronavirus shutdown could result in weeks or even months of delayed payments in some states. Older computer systems that took weeks to set up for the initial federal unemployment enhancement ...

Analysts warn economy needs help now

WASHINGTON — As Congress and the White House resume their efforts to agree on a new economic aid package, evidence is growing that the U.S. economy is faltering. And so is concern that the government may not take the steps needed to support hiring and growth. “We’re in a pretty fragile ...

White House, GOP agree to virus testing but aid bill shifts

WASHINGTON — Senate Republicans and the White House reached tentative agreement late Wednesday for more testing funds in the next COVID-19 relief package, but deep disagreements over the scope of the $1 trillion in federal aid have forced a shift in strategy. Facing a GOP revolt, Senate ...

China’s economy grows 3.2 percent

BEIJING — China became the first major economy to grow since the coronavirus pandemic began, recording an unexpectedly strong 3.2 percent expansion in the latest quarter as anti-virus lockdowns were lifted and factories and stores reopened. The growth reported Thursday was a dramatic ...

First COVID-19 vaccine tested in US poised for final testing

The first COVID-19 vaccine tested in the U.S. revved up people’s immune systems just the way scientists had hoped, researchers reported Tuesday — as the shots are poised to begin key final testing. “No matter how you slice this, this is good news,” Dr. Anthony Fauci, the U.S. ...

Peacock enters streaming fray with paid, free subscriptions

LOS ANGELES — Peacock is joining the streaming world with a few feathers plucked from its intended array of original programs. Amid a stubborn, industry-wide production halt forced by the coronavirus, Peacock subscribers have to wait for a reimagined “Battlestar Galactica,” the ...

Appeals court pauses lawsuit over Trump hotel profits

RICHMOND, Va. — Financial records related to President Donald Trump’s Washington hotel can be kept on hold, a federal appeals court said Thursday, while Trump asks the U.S. Supreme Court to hear an appeal in a lawsuit that accuses him of illegally profiting off the presidency. The ruling ...

Small business program scrutinized for loans to big firms

NEW YORK — Congress set aside $659 billion to throw a lifeline to small businesses and organizations side-swiped by the coronavirus pandemic and to help paychecks keep flowing to workers who might otherwise head to the unemployment line. Yet that’s not exactly how it worked out. Among ...

Renters face financial cliff ahead; limited help available

Renters are nearing the end of their financial rope. People who rent have largely been able to survive the initial months of the pandemic helped by unemployment and federal relief checks. But the extra $600 in unemployment benefits ceases at the end of July and local eviction moratoriums are ...

Small business aid went beyond hard-hit companies

WASHINGTON — The government on Monday identified roughly 650,000 mostly small businesses and nonprofits that received taxpayer money through a federal program that was designed to soften job losses from the coronavirus but also benefited wealthy, well-connected companies and some celebrity ...

House approves $1.5T plan to fix crumbling infrastructure

WASHINGTON — The Democratic-controlled House approved a $1.5 trillion plan Wednesday to rebuild the nation’s crumbling infrastructure, pouring hundreds of billions of dollars into projects to fix roads and bridges, upgrade transit systems, expand interstate railways and dredge harbors, ...

Fauci, CDC chief raise concerns about full airline flights

The government’s top experts in infectious diseases on Tuesday criticized American Airlines’ decision to pack flights full while the coronavirus outbreak continues to grow across much of the United States. “Obviously that is something that is of concern. I’m not sure what went into ...

Fed’s program for loaning to Main Street off to slow start

WASHINGTON — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He’s making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program ...

Fed stops big banks from buying back stock, caps dividends

NEW YORK — A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday. To bolster the banks ahead such a potentially damaging recession, the Fed ordered ...