The coronavirus pandemic has upended the lives and finances of millions. A federal relief package aiming to provide payments to distressed consumers passed Friday — but that money is not likely to land for a number of weeks.
Stocks rallied this week as Washington acted to provide $2.2 trillion of relief to an economy shocked by the coronavirus outbreak, leaving some on Wall Street cautiously optimistic that the panicky selling that had gripped the market earlier may have come to an end.
WASHINGTON (AP) — Highlights of a $2.2 trillion package to help businesses, workers and a health care system staggered by the coronavirus that President Donald Trump signed into law Friday after the House voted final congressional approval.
WASHINGTON (AP) — President Donald Trump signed an unprecedented $2.2 trillion economic rescue package into law 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 coronavirus epidemic.
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus.
PHUKET, Thailand (AP) — From the sun-soaked beaches of Thailand to the foothills of Mount Everest, tourists across Asia are finding their dream vacations have turned into travel nightmares as airlines cancel flights and countries close their borders in the fight against the coronavirus pandemic.
Shares of cruise lines have taken on more water after the industry's major players were shut out from government assistance as part of the major economic-recovery bill signed by President Donald Trump on Friday The bill passed by Congress says companies getting loans or loan guarantees must be “organized” in the U.S.
WASHINGTON (AP) — In the coronavirus crisis, even doctors can face a cash crunch. Dr. Benjamin Ticho, an ophthalmologist in Chicago Ridge, Illinois, has seen his revenue plunge 80% as patients stay home and he cancels non-emergency surgeries.
BERKELEY, Calif. (AP) — Pacific Gas & Electric is warning its elaborate plan for getting out of bankruptcy might collapse if the utility can’t pay for its crimes in a deadly Northern California wildfire by taking money away from a fund set up to compensate thousands of victims for their losses.
Wall Street closed lower Friday but still notched big gains for the week as investors held out hope that a $2 trillion rescue package will cushion businesses and households from the economic devastation being caused by the coronavirus.
NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate by a sizable 75 basis points to 4.4% from 5.15% to ease financing troubles caused by the coronavirus outbreak and help revive the economy.
WASHINGTON (AP) — The $2 trillion legislative package moving through Congress to shore up the U.S. economy devastated by the coronavirus was carefully written to prevent President Donald Trump and his family from profiting from the federal fund.
WASHINGTON (AP) — The Environmental Protection Agency on Thursday abruptly waived enforcement on a range of legally mandated public health and environmental protections, saying industries could have trouble complying with them during the coronavirus pandemic.
WASHINGTON (AP) — 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.
DES MOINES, Iowa (AP) — As hospitals and nursing homes desperately search for hand sanitizer amid the coronavirus outbreak, federal regulators are preventing ethanol producers from providing millions of gallons of alcohol that could be transformed into the germ-killing mixture.
The Trump administration is raising the possibility of the government getting ownership stakes in U.S. airlines in exchange for $25 billion in direct grants to help the carriers survive a downturn caused by the coronavirus pandemic, according to people familiar with the matter.