business

An additional 3.8 million Americans filed jobless claims in the past week, the Department of Labor reported on Tuesday, amid continuing economic fallout from the coronavirus pandemic. Total U.S. unemployment since the start of the pandemic has soared to 30 million, or 18 percent of the workforce. States are currently formulating plans to reopen businesses …

Banks trying to submit applications for thousands of small businesses seeking coronavirus relief loans have hit a bottleneck for a second day at the Small Business Administration. Banking industry groups said Tuesday the SBA’s loan processing system is still unable to handle the volume of loan applications from business owners trying to get aid under …

States around the country are beginning to allow non-essential businesses to open up with stay-at-home orders expiring, after President Donald Trump indicated most can reopen by May 1. Nine states — Alaska, Colorado, Georgia, Minnesota, Mississippi, Montana, Oklahoma, South Carolina, and Tennessee — have already begun reopening businesses as their respective restrictions expire. The president …

Senate Majority Leader Mitch McConnell said Monday that it is “highly likely” the next emergency coronavirus package Congress passes will include funding for state and local governments, but cautioned that the relief will come with a condition. “We probably will do another bill. What I’m saying is it won’t just be about money,” McConnell told …

Senator Josh Hawley (R., Mo.) asked attorney general Bill Barr to open a criminal antitrust probe into Amazon following reports that the tech giant was illicitly accessing third-party seller data, a violation of official company policy designed to boost its own products. “Amazon abuses its position as an online platform and collects detailed data about …

The feds plan to audit all large coronavirus relief loans amid an outcry over big companies getting help at the expense of struggling small businesses. The US Small Business Administration will review all Paycheck Protection Program loans worth more than $2 million before forgiving the debt, Treasury Secretary Steven Mnuchin said Tuesday. Loans from the …

Nathan’s Famous has joined the slew of companies returning small-business loans amid an outcry over big firms getting coronavirus aid. The storied Coney Island hot dog brand plans to return the $1.2 million loan it received through the Paycheck Protection Program meant to help Main Street merchants cover payroll and other expenses during the pandemic. …

The Swedish flag is seen at Gamla Stan, the Old City of Stockholm, Sweden, May 7, 2017. (Ints Kalnins/Reuters) Swedish minister of enterprise Ibrahim Baylan on Monday said that Swedish businesses, which have been allowed to remain open amid the pandemic, are struggling with a sharp drop in demand. Baylan told a press conference that …

A tiny fraction of the publicly traded companies that got coronavirus loans have pledged to give them back — despite urging from the feds and a public outcry, records show. Just 13 public firms that received a combined $98.5 million through the federal Paycheck Protection Program — which was meant to help Main Street merchants …

WASHINGTON – The US government will cap how much each bank can lend under the emergency loan program designed to keep workers on payrolls amid the coronavirus pandemic, according to a memo seen by Reuters hours ahead of the reopening of the lending program. The Small Business Administration (SBA) will impose a maximum dollar amount …