Business & Economy

Business & Economy

Boeing 777-X jet takes off in Seattle with Olympia Mountains in the background

Pandemic Piles On Already Reeling Boeing, Leading To Nearly $12 Billion Loss In 2020

Boeing is trying to close the books on a dismal year. The aircraft manufacturer Wednesday reported that the company lost close to $12 billion in 2020, a record loss, as the pandemic depressed demand for new airplanes and the company continued to reel from its 737 Max debacle. Continue Reading Pandemic Piles On Already Reeling Boeing, Leading To Nearly $12 Billion Loss In 2020

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Shoppers walk past a "Sale" sign outside a store at the Easton Town Center Mall in Columbus, Ohio, on Jan. 7. CREDIT: Luke Sharrett/Bloomberg via Getty Images

Retail Spending Dips For 3rd Straight Month As Infections Surge

Even as people continue to splurge on shopping, they cut back on going out to eat and shop. Plus, the earlier-than-usual holiday shopping season meant online shopping as well sales of electronics and appliances dipped in December. Gas stations saw the biggest jump in spending last month, up 6.6%, as people traveled for holiday visits despite health warnings. Continue Reading Retail Spending Dips For 3rd Straight Month As Infections Surge

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Farmer Ron Rosmann

Farmers Got Big Government Pandemic Relief In 2020, Even Those Who Didn’t Need It

The aid, delivered in two separate packages over the course of the year, went to a wide variety of people in agriculture, including corn and soybean farmers, cattle ranchers, and fruit and vegetable producers. The $46 billion in direct government payments to farmers in 2020 broke the previous annual record by about $10 billion, even after accounting for inflation. Continue Reading Farmers Got Big Government Pandemic Relief In 2020, Even Those Who Didn’t Need It

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The Wall Street bull statue

The Spectacular Rise Of SPACs: The Backwards IPO That’s Taking Over Wall Street

Shaquille O’Neal’s got a SPAC. Former House Speaker Paul Ryan’s got a SPAC. Famed investor Bill Ackman launched a $4 billion SPAC. And a 25-year-old became the youngest self-made billionaire thanks to — you guessed it — a SPAC. So what is a SPAC? A “special purpose acquisition company” is a way for a company to go public without all the paperwork of a traditional IPO, or initial public offering. Continue Reading The Spectacular Rise Of SPACs: The Backwards IPO That’s Taking Over Wall Street

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President Trump, seen here at the White House on Dec. 12, has signed the coronavirus relief package. CREDIT: Al Drago/Getty Images

President Trump Signs COVID-19 Relief Deal After His Criticism Threatened To Derail It

President Trump on Sunday night signed a massive coronavirus relief and spending package, relenting on a measure he had called a “disgrace” days earlier. The legislation, which combines $900 billion in COVID-19 aid with government funding through September 2021, was passed by large majorities in both houses of Congress on Dec. 21 — only to see Trump blindside legislators the next day and blast the bill. Continue Reading President Trump Signs COVID-19 Relief Deal After His Criticism Threatened To Derail It

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Members of the bipartisan Problem Solvers Caucus — co-chairs Rep. Tom Reed, R-N.Y., at podium, and Rep. Josh Gottheimer, D-N.J., right — took credit for helping to break the logjam on an emergency COVID-19 relief bill. CREDIT: Jacquelyn Martin/AP

Congress Passes $900 Billion Coronavirus Relief Bill, Ending Months-Long Stalemate

The Senate acted swiftly Monday night, in a 91-7 vote, to approve more than $900 billion for coronavirus assistance, shortly after the House of Representatives passed the package. The aid comes after months of partisan sniping over what elements should be in a relief measure that virtually all lawmakers on Capitol Hill argued was long overdue. Continue Reading Congress Passes $900 Billion Coronavirus Relief Bill, Ending Months-Long Stalemate

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House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., speak Sunday following a press conference on Capitol Hill after Republicans and Democrats finally came to an agreement on the coronavirus relief bill. CREDIT: Tasos Katopodis/Getty Images

Here Is What’s In Congress’ COVID-19 Relief Package

Congress plans to pass on Monday a bipartisan $900 billion COVID-19 relief bill after intense negotiations over its final details. Leaders of both parties are lauding the agreement, claiming victory for provisions they were able to get in — and keep out. The measure includes up to a $600 relief check for many Americans as well as an assortment of aid for small businesses and money to purchase and distribute vaccines. Continue Reading Here Is What’s In Congress’ COVID-19 Relief Package

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Senate Majority Leader Mitch McConnell wearing a face mask - December 2020

Congressional Leaders Reach $900 Billion Deal On Coronavirus Aid, Includes $600 Stimulus Payments

After months of partisan squabbling, congressional leaders have reached agreement on a nearly $900 billion COVID-19 relief package. “At long last, we have the bipartisan breakthrough the country has needed,” Senate Majority Leader Mitch McConnell, R-Ky., said on the Senate floor Sunday evening. Continue Reading Congressional Leaders Reach $900 Billion Deal On Coronavirus Aid, Includes $600 Stimulus Payments

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