Coronavirus
US Layoffs Remain Elevated as 837,000 Seek Jobless Aid
The number of Americans seeking unemployment benefits declined last week to a still-high 837,000, evidence that the economy is struggling to sustain a tentative recovery that began this summer.
Tech Investments Prove Vital During Pandemic, McLeod Says
Trucking and logistics companies that have been investing in technology to improve their operations also have been well-positioned to handle the disruption caused by the ongoing coronavirus pandemic, McLeod Software’s CEO said.
Mnuchin Says There Is Still No Agreement on Fiscal Stimulus
U.S. Treasury Secretary Steven Mnuchin said there’s still no agreement on a fresh fiscal stimulus package after he met for about 90 minutes with House Speaker Nancy Pelosi.
US Automakers Dig Out of Pandemic Hole as Prices Soar
Automakers are climbing out of the ditch they fell into this spring, with U.S. auto sales expected to rebound strongly in the third quarter thanks to cheap borrowing costs and a shift toward private transportation amid the pandemic.
Airlines Near 50,000 Job Cuts as American, United Feel Squeeze
U.S. airlines are preparing to lay off tens of thousands of workers starting Oct. 1 unless they get additional federal aid, sparking a plea from Treasury Secretary Steven Mnuchin to hold off on the cuts amid signs of progress in talks with Congress.
US Senate Advances Spending Bill to Avert Oct. 1 Shutdown
The Senate on Sept. 29 voted 82-6 to clear a procedural vote on the stopgap spending bill needed to prevent an Oct. 1 shutdown of the federal government.
Mnuchin Sees One More Chance for Stimulus as House Readies Vote
Treasury Secretary Steven Mnuchin said he sees one more chance at securing a deal with Democrats on another fiscal stimulus package, while stopping short of embracing a bigger proposal than President Donald Trump already has signaled.
749,000 Jobs Were Added in September, ADP Report Shows
U.S. companies added 749,000 jobs in September, a private report showed, indicating the labor market’s gradual rebound is continuing as demand rises from the depths of the coronavirus pandemic.
Oil Falls on Growing Chorus of Warnings About Demand Recovery
Oil in New York plunged below a key technical level for the first time since June as concerns over progress on another round of U.S. fiscal stimulus compounded growing fears that a sustained recovery in demand is still some way off.
Pelosi, Mnuchin Resume Pivotal Talks on New Stimulus for Economy
House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin on Sept. 29 discussed the latest Democratic stimulus proposal in talks that will determine whether another coronavirus relief package gets enacted before the election.