Economic News

  • Jobless Americans to see extra payments as soon as this week

    WASHINGTON (Reuters) - Americans who have lost their jobs due to the coronavirus outbreak will start getting enhanced jobless benefits as soon as this week as states deploy hundreds of billions of dollars in federal aid, state officials said on Tuesday.

  • Trump administration seeks $250 billion more in aid for small U.S. businesses: Mnuchin

    WASHINGTON (Reuters) - The Trump administration on Tuesday asked Congress for an additional $250 billion in emergency economic aid for small U.S. businesses reeling from the coronavirus pandemic, as Senate Majority Leader Mitch McConnell pushed for passage as soon as Thursday.

  • Asian shares step back, oil rebounds in volatile trade

    SYDNEY/WASHINGTON (Reuters) - Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors turned wary on getting too optimistic about the coronavirus while death tolls were still mounting across the globe.

  • Wall Street volatility raises fears of another selloff

    (Reuters) - The evaporation of a rally on Wall Street in the closing minutes of Tuesday's session shows that many investors fear the U.S. stock market is in danger of a renewed tumble due to uncertainty surrounding the coronavirus pandemic.

  • Trump says $70 billion in coronavirus rescue loans authorized. But where's the cash?

    WASHINGTON (Reuters) - Roughly $70 billion of a $350 billion pot of loans to cover the payrolls of ailing small businesses have been originated by U.S. lenders in recent days, President Donald Trump said on Tuesday, adding that that money was "essentially loaned."

  • White House looks to bolster small business lending program

    WASHINGTON (Reuters) - The White House hopes Congress will nearly double the size of its program to support ailing small businesses by the end of the week, as some of the nation's largest lenders still sit on the sidelines and others remain unable to access the system.

  • Alaska's RavnAir may face bankruptcy fight over jets grounded by coronavirus

    ANCHORAGE (Reuters) - Alaska's North Slope Borough government has moved to seize the assets of RavnAir Group after it declared bankruptcy due to the coronavirus, aiming to protect its region's air service but also setting up a potential legal battle with the airline's lender.

  • Oil prices jump on hopes for OPEC, Russia meeting on output cuts

    SEOUL (Reuters) - Oil bounced back on Wednesday, with U.S. crude jumping over $1, lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic.

  • Dollar creeps higher as virus worries return

    SINGAPORE (Reuters) - The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.

  • South Korea's March bank lending grows at record pace

    SEOUL (Reuters) - Bank loans to South Korean households in March jumped by the most on record, central bank data showed on Wednesday, as credit loans for stock investments and home sales outside Seoul surged after the government rolled out fresh property regulations.

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