Economy

A Season of Disappointment and Depression as COVID-19 Rages Into Holidays

LOS ANGELES — Business is booming for Maria Mir. Under normal circumstances, she takes little time off in November and December; the... Read More

LOS ANGELES — Business is booming for Maria Mir. Under normal circumstances, she takes little time off in November and December; the holidays are her busy season. But this is 2020. Nothing is normal. And everyone seems to need her at once.... Read More

White House Leaves Stimulus to Congress after Months of Impasse

WASHINGTON — The Trump administration is stepping back from negotiations on a new stimulus package and leaving it up to Senate... Read More

WASHINGTON — The Trump administration is stepping back from negotiations on a new stimulus package and leaving it up to Senate Majority Leader Mitch McConnell to revive long-stalled talks with House Speaker Nancy Pelosi, according to people familiar with the situation. While the White House probably... Read More

2020-11-09 17:37:16
by Dan McCue
Biden Names Coronavirus Advisory Board

WASHINGTON — President-elect Joe Biden announced the members of his new coronavirus task force Monday morning, putting the contentious 2020... Read More

WASHINGTON — President-elect Joe Biden announced the members of his new coronavirus task force Monday morning, putting the contentious 2020 presidential campaign behind him and moving definitively on to the transition. Biden said repeatedly during the campaign that "crushing" the... Read More

2020-11-09 14:30:35
by Reece Nations
Mayor Lightfoot Announces $10 Million Chicago Hospitality Grant Program

CHICAGO – Mayor Lori Lightfoot unveiled an emergency coronavirus relief program for restaurants and bars in Chicago that are still... Read More

CHICAGO – Mayor Lori Lightfoot unveiled an emergency coronavirus relief program for restaurants and bars in Chicago that are still grappling with the effects of the pandemic.  The grant program will reallocate $10 million in CARES Act funds to businesses... Read More

2020-11-06 19:16:38
by Dan McCue
House Dems: New Jobless Numbers Underscore Need for More COVID Relief

WASHINGTON - Employers added 638,000 jobs in the month of October, pushing the national unemployment rate down to 6.9%, the... Read More

WASHINGTON - Employers added 638,000 jobs in the month of October, pushing the national unemployment rate down to 6.9%, the Labor Department reported Friday. But Congressional Democrats noted the pace of renewed hiring isn't nearly enough to quickly get the... Read More

2020-11-04 22:03:08
by Sara Wilkerson
Nielsen Predicts Consumer Holiday Spending Behavior in 'New Normal'

Ahead of the holiday season, Nielsen, the global marketing research firm, recently predicted the types of behaviors consumers will exhibit... Read More

Ahead of the holiday season, Nielsen, the global marketing research firm, recently predicted the types of behaviors consumers will exhibit due to the “new normal” set by the COVID-19 pandemic. With considerations of varying financial and physical restrictions consumers will... Read More

2020-11-02 14:02:54
by Dan McCue
Cunningham, Reed, Call for COVID-19 Relief, Civility During Bipartisan Town Hall

WASHINGTON - It came as no surprise last week when the majority of questions posed to two members of Congress... Read More

WASHINGTON - It came as no surprise last week when the majority of questions posed to two members of Congress during a virtual town hall Friday focused on currently stalled negotiations over the next COVID-19 relief package. Despite being on... Read More

2020-10-30 16:01:29
by Sara Wilkerson
Gottheimer and Philips Urge Congressional PPP Renewal

Earlier this week, Rep. Josh Gottheimer, D-N.J. and Dean Phillips, D-Minn., discussed the continuously growing need to renew the Small... Read More

Earlier this week, Rep. Josh Gottheimer, D-N.J. and Dean Phillips, D-Minn., discussed the continuously growing need to renew the Small Business Administration’s Paycheck Protection Program for a second round and urged both Congress and the administration to continue bipartisan negotiations... Read More

Flying is Safer Than Grocery Shopping or Eating Out, Report Says

Flying ranks below grocery shopping and eating in a restaurant when it comes to the risk of contracting COVID-19 in... Read More

Flying ranks below grocery shopping and eating in a restaurant when it comes to the risk of contracting COVID-19 in a public place, a new study claims. It's all in the ventilation and the protocols, researchers at Harvard University's T.H. Chan School... Read More

Senate Packs Up with Coronavirus Relief Bill on Ice Until After Elections

WASHINGTON — Senators prepared to leave town Monday night for their October recess with virtually no prospect of passing new COVID-19... Read More

WASHINGTON — Senators prepared to leave town Monday night for their October recess with virtually no prospect of passing new COVID-19 aid legislation before the Nov. 3 elections. Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke by phone for 52 minutes on Monday in what has... Read More

Pelosi, White House Say Each 'Moving the Goalposts' on Stimulus

House Speaker Nancy Pelosi said the chamber could pass a pandemic relief plan this week, though a deal with the White House remains elusive... Read More

House Speaker Nancy Pelosi said the chamber could pass a pandemic relief plan this week, though a deal with the White House remains elusive and the Republican-led Senate might not act before the Nov. 3 U.S. election. Pelosi and White House Chief of Staff Mark Meadows accused each other of "moving the... Read More

PPP Bill Falls Short in Senate as Hope for COVID-19 Aid Wanes

WASHINGTON - Amid ongoing COVID-19 economic aid negotiations and the approaching election, the Senate shot down on Tuesday a standalone measure authorizing a... Read More

WASHINGTON - Amid ongoing COVID-19 economic aid negotiations and the approaching election, the Senate shot down on Tuesday a standalone measure authorizing a second round of forgivable loans to small businesses. Republicans were unified in their attempt to push forward the bill while nearly... Read More

McConnell Warns White House Against COVID Relief Deal

WASHINGTON (AP) — Senate Majority Leader Mitch McConnell on Tuesday told fellow Republicans that he has warned the White House... Read More

WASHINGTON (AP) — Senate Majority Leader Mitch McConnell on Tuesday told fellow Republicans that he has warned the White House not to divide Republicans by sealing a lopsided pre-election COVID-19 relief deal with House Speaker Nancy Pelosi — even as... Read More

2020-10-20 19:38:07
by Sara Wilkerson
New Survey Predicts Dismal Outlook for Mom and Pop Shops for the Holidays

A new survey released from Alignable, the country’s largest online referral network for small businesses, shows 45% of consumers shifted... Read More

A new survey released from Alignable, the country’s largest online referral network for small businesses, shows 45% of consumers shifted from shopping at local businesses to purchasing goods from national, online retailers when they were most concerned about COVID. The... Read More

Champion of Poor or Demagogue? Mexico’s President Remains Popular Despite Stalled Economy, Pandemic and Crime

MEXICO CITY — The Mexican economy is cratering, homicides are rising at a record rate, and the COVID-19 death toll... Read More

MEXICO CITY — The Mexican economy is cratering, homicides are rising at a record rate, and the COVID-19 death toll has surged past 80,000. For any other leader, the torrent of bad news might herald a political reckoning. Not for... Read More

Rural Vacation Towns Made it Through the Summer. Now What?

DENVER — The pandemic hit Colorado’s ski towns first. As spring breakers headed to the slopes, they brought the coronavirus... Read More

DENVER — The pandemic hit Colorado’s ski towns first. As spring breakers headed to the slopes, they brought the coronavirus with them. Democratic Gov. Jared Polis shut down the state’s ski resorts in March, triggering a wave of furloughs and... Read More

2020-10-06 21:22:56
by Dan McCue
Trump Halt of COVID-19 Relief Talks Draws Sharp Rebuke on Capitol Hill

WASHINGTON — Anger on Capitol Hill boiled over Tuesday after President Donald Trump called an abrupt end to negotiations with... Read More

WASHINGTON — Anger on Capitol Hill boiled over Tuesday after President Donald Trump called an abrupt end to negotiations with House Democrats over additional coronavirus relief, delaying action until after the election. Trump announced he was walking away from the... Read More

2020-10-06 17:39:18
by Tom Ramstack
State Attorneys General Try to Soften SBA Crackdown on Business Loans

The attorneys general from 18 states are pushing back against the Small Business Administration for what they describe as an... Read More

The attorneys general from 18 states are pushing back against the Small Business Administration for what they describe as an overly zealous crackdown on fraud in the coronavirus relief loans. They are bothered by the SBA's proposed appeal process for... Read More

2020-10-02 19:22:37
by Dan McCue
Poll Finds Majority of Americans Worried About Another Civil War

Sixty-one percent of Americans are worried that the U.S. could be on the verge of another Civil War, while 52%... Read More

Sixty-one percent of Americans are worried that the U.S. could be on the verge of another Civil War, while 52% say they've already started stockpiling food and other essential in anticipation of social unrest, according to a new national poll.... Read More

2020-10-02 14:49:31
by Sara Wilkerson
CDC Says Halloween Isn’t Cancelled – Just Modified – This Year

The Centers for Disease Control and Prevention has released guidelines for fall holiday celebrations. As part of the recommendations, the... Read More

The Centers for Disease Control and Prevention has released guidelines for fall holiday celebrations. As part of the recommendations, the CDC ranked traditional celebratory activities for Halloween and other fall holidays to help Americans celebrate the autumn season safely amid... Read More

2020-10-01 19:10:14
by Tom Ramstack
Government Small Business Loans Subjected to Widespread Fraud

WASHINGTON -- A Small Business Administration inspector general defended his agency Thursday during questioning from members of Congress about reports... Read More

WASHINGTON -- A Small Business Administration inspector general defended his agency Thursday during questioning from members of Congress about reports of widespread fraud in government loans to employers. The loans are supposed to help small businesses stay afloat during the... Read More

Mnuchin Virus Relief Plan Includes More State, Local Funds; House Delays Vote

WASHINGTON — Treasury Secretary Steven Mnuchin offered a $1.62 trillion COVID-19 relief proposal in talks with Speaker Nancy Pelosi on... Read More

WASHINGTON — Treasury Secretary Steven Mnuchin offered a $1.62 trillion COVID-19 relief proposal in talks with Speaker Nancy Pelosi on Wednesday, offering more state and local assistance than GOP negotiators have to-date in a sign of potential progress toward a... Read More

2020-09-29 20:22:37
by Reece Nations
Blue Dogs Endorse Fifth Coronavirus Relief Package With Bipartisan, Bicameral Support

WASHINGTON – The Democratic Blue Dog Coalition announced its support for an emergency funding bill to help municipalities withstand the... Read More

WASHINGTON – The Democratic Blue Dog Coalition announced its support for an emergency funding bill to help municipalities withstand the lasting effects of the COVID-19 pandemic. The legislation, introduced in the House by Rep. Mikie Sherrill, D-N.J., provides $500 billion... Read More

2020-09-28 13:46:22
by Reece Nations
Govs. Whitmer, Cuomo Call for Investigation of Trump’s ‘Politicization’ of Coronavirus Pandemic

New York Gov. Andrew Cuomo and Michigan Gov. Gretchen Whitmer jointly released a statement urging Congress to open an oversight... Read More

New York Gov. Andrew Cuomo and Michigan Gov. Gretchen Whitmer jointly released a statement urging Congress to open an oversight investigation concerning “the Trump administration’s politicization of government functions,” that undermined the nation’s pandemic response. In their statement, the governors... Read More

Threats of Arrest, Job Loss and Surveillance. China Works to Erase Its ‘Model Minority’

BEIJING — The herder couldn’t speak for long. His phone was being monitored, he said, as are those of many... Read More

BEIJING — The herder couldn’t speak for long. His phone was being monitored, he said, as are those of many other Mongols around him. “We have no way out. There’s nothing we can do,” said Gangbater, a herder in Xilingol... Read More

2020-09-23 17:47:07
by Tom Ramstack
Economists Say Pandemic Needs to End Before U.S. Economy Returns to Normal

WASHINGTON -- Economists warned Congress Tuesday of long-term damage to the U.S. economy if the coronavirus pandemic is not brought... Read More

WASHINGTON -- Economists warned Congress Tuesday of long-term damage to the U.S. economy if the coronavirus pandemic is not brought under control soon. They cautioned during two separate congressional hearings that the slow improvement to the economy since the pandemic... Read More

2020-09-18 19:05:44
by Kate Michael
Fixing Unemployment Insurance for Better Economic Recovery

WASHINGTON — Emergency expansions to Unemployment Insurance provided critical support to workers across the country during the early months of... Read More

WASHINGTON — Emergency expansions to Unemployment Insurance provided critical support to workers across the country during the early months of the pandemic. But the major component of these expansions, an additional $600 in weekly benefits, expired at the end of... Read More

Democrats Weigh Next Steps After Trump Backs Bigger Stimulus

WASHINGTON — Some House Democrats are keeping pressure on House Speaker Nancy Pelosi to bring a new coronavirus relief bill... Read More

WASHINGTON — Some House Democrats are keeping pressure on House Speaker Nancy Pelosi to bring a new coronavirus relief bill up for a vote next week as they look to signal to voters that the party is pursuing a deal... Read More

Fed Signals Rates Will Stay Near Zero for at Least Three Years

The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to... Read More

The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the U.S. economy recover from the coronavirus pandemic. The Federal Open Market Committee “expects to maintain an accommodative stance... Read More

2020-09-15 17:52:53
by Dan McCue
Problem Solvers Step Into Relief Bill Void to Offer Bipartisan Plan

WASHINGTON - A bipartisan group of 50 centrist lawmakers on Tuesday unveiled a $1.5 trillion proposal they hope will end... Read More

WASHINGTON - A bipartisan group of 50 centrist lawmakers on Tuesday unveiled a $1.5 trillion proposal they hope will end the current stalemate over new relief to bolster the coronavirus battered economy. The Problem Solvers Caucus, led by co-chairs Reps.... Read More

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