economy

The US Federal Reserve on Thursday widened a key program to nurse the “Main Street” economy through the coronavirus pandemic, agreeing to lend to even larger firms, taking on more risk in participation with banks, and hinting at some form of dedicated help for nonprofits. The central bank said it would expand its “Main Street …

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 …

Some 1.6 billion workers making up nearly half of the global workforce could lose their livelihoods to the coronavirus crisis, international officials warn. Those at-risk workers have jobs in the “informal economy” that won’t pay them if they get sick or stay home amid widespread lockdowns aimed at controlling the deadly virus, according to the …

Lyft said on Wednesday it plans to lay off 982 employees, or 17 percent, of the ride-hailing firm’s workforce, due to the economic challenges caused by the coronavirus pandemic. Wall Street reacted by sending the shares up almost 5 percent, or $1.62, to $34.36. Earlier this month, the Uber rival announced that some drivers sidelined …

The US economy suffered its fastest contraction since the Great Recession as the coronavirus crisis put the country under lockdown, new federal data show. The nation’s gross domestic product — the value of all goods and services produced here — decreased by an annual rate of 4.8 percent in the first three months of the …

The most controversial movie of the year is … “Trolls World Tour”? As innocuous as the rainbow-colored, music-blaring animated movie may seem, the digital release of the “Trolls” sequel has caused a storm to course through the movie industry. Just as the pandemic worsened and movie theaters were shuttering, Universal Pictures shifted the film’s release …

President Trump plans to sign an executive order invoking the Defense Production Act to compel meat processing plants to remain open during the coronavirus pandemic, Bloomberg first reported Tuesday. The order would classify meat processing plants as essential infrastructure, with federal government officials providing protective gear and guidance to workers. Government officials have reportedly estimated …

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 …