Treasury Secretary Steven Mnuchin and President Donald Trump attend briefing about the coronavirus outbreak in the press briefing room at the White House on March 17, 2020 in Washington, DC. The Trump administration is considering an $850 billion stimulus package to counter the economic fallout as the coronavirus spreads. Drew Angerer | Getty Images President […]
Tag: business news
House passes relief bill, sends to Trump
President Donald Trump signed a $2 trillion coronavirus relief bill on Friday, as Washington tries to blunt economic destruction from the pandemic ripping through the United States. The House earlier passed the stimulus package, believed to be the largest in U.S. history, by voice vote, which simply measures if more lawmakers shout for “aye” or “nay” on […]
Coronavirus hits already struggling US farmers with drop in prices
In this photo taken March 20, 2020, cattle rancher Joe Whitesell rides his horse in a field near Dufur, Oregon, as he helps a friend herd cattle. Gillian Flaccus | AP U.S. farmers have endured a slew of financial hardships over the past few years. The U.S.-China trade war sent scores of farmers out of […]
UAE residents call for end to WhatsApp, Skype ban
Sergei Konkov | TASS via Getty Images DUBAI, United Arab Emirates — Calls for the UAE to lift its ban on internet calling platforms like Whatsapp and Facetime are growing louder by the day as residents hunker down in their homes amid the coronavirus lockdown, unable to travel, meet or go outdoors. “Given the pandemic, […]
Pence says economic fundamentals strong despite outbreak impact
Vice President Mike Pence said Friday that the fundamentals of the U.S. economy remain robust despite the coronavirus pandemic that has tanked markets and led to unprecedented layoffs of millions of Americans. “While the stock market has ebbed and flowed, and even this week made dramatic moves, President Trump and our entire economic team believe […]
The Fed’s balance sheet just passed $5 trillion for the first time ever
Though the Federal Reserve’s efforts to keep markets running and boost the economy are just getting into gear, its asset portfolio has reached levels never seen before. The central bank’s balance sheet, which consists largely of bonds and other assets it has purchased over the years, ballooned to $5.3 trillion for the week ending Wednesday. […]
Lack of internet cuts off millions, Real ID extended
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 542,700 Global deaths: At least 24,361 US cases: At least 85,996 US deaths: At least 1,300 The data […]
House to vote on relief bill
The US Capitol is reflected in a standby ambulance on March 27, 2020, in Washington, DC. Alex Edelman | AFP | Getty Images House members are scrambling back to the Capitol on Friday morning as one member’s opposition to a $2 trillion coronavirus rescue package is set to delay its passage. With few representatives in […]
IMF chief Georgieva says the world is in a recession, containment will dictate strength of recovery
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), speaks in Washington, D.C., on Oct. 16, 2019. Andrew Harrer | Bloomberg | Getty Images This is a developing story. Check back for updates. International Monetary Fund chief Kristalina Georgieva said Friday that the global economy is now in a recession thanks to COVID-19, but […]
Stocks snap 3-day win streak, Dow down 700
This is a live blog. Check back for updates. 10:47 am:Â Wall Street analysts upgrade stocks on hopes the market has bottomed Deutsche Bank upgraded Qualcomm to buy from hold. Bank of America downgraded JPMorgan to neutral from buy. Loop Capital upgraded Home Depot to buy from hold. JPMorgan upgraded Deere to neutral from underweight. Bank […]
