US could get stake in airlines in exchange for virus grants

The Trump administration is raising the possibility of the government getting ownership stakes in U.S. airlines in exchange for $25 billion in direct grants to help the carriers survive a downturn cau...

Congress' relief bill would vastly expand unemployment aid

NEW YORK (AP) — With record-high numbers of Americans seeking unemployment benefits after losing their jobs because of the coronavirus, Congress is set to significantly enhance the program. ...

US jobless claims hit 3.3 million, quadruple previous record

WASHINGTON (AP) — Nearly 3.3 million Americans applied for unemployment benefits last week — more than quadruple the previous record set in 1982 — amid a widespread economic shutdown caused by the cor...

Stocks have first back-to-back gains since sell-off began

Stocks scored their first back-to-back gains Wednesday (March 25) since a brutal sell-off began five weeks ago, but much of an early rally faded late in the day as a last-minute dispute threatened to ...

Airlines, others to benefit from $2 trillion rescue bill

The White House and Senate leaders agreed early Wednesday on a $2 trillion economic rescue package, the largest in the country's history. The bill would give direct payments to most Americans, expand ...

Asian shares jump after Dow sees biggest gain since 1933

Shares advanced in Asia on Wednesday (March 25) after the Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on injecting nearly $2 trillion o...

Business fallout: Companies in China see delays in reopening

The spread of the coronavirus that emerged in China in December has dealt an unprecedented shock to the global economy. Here is a look at developments Wednesday: CHINA BUSINESS: One ...

Dow has best day since 1933 as Congress nears deal on aid

The Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on Tuesday (March 24) to inject nearly $2 trillion of aid into an economy ravaged by th...

Teams and leagues drawing up employee game plans on fly

Major sports leagues and teams across the United States are being forced to write a new game plan on how to pay employees and keep the franchises solvent in the wake of a coronavirus pandemic that has...

Fed to suspend some bank supervision during viral outbreak

WASHINGTON (AP) — The Federal Reserve said it will suspend some of its bank supervisory activities to give banks more leeway in dealing with financially strapped customers. The Fed...

Canada's second largest airline cuts almost half its staff

TORONTO (AP) — Canada's second biggest airline, WestJet, said Tuesday almost half its employees are leaving the company amid the pandemic as it seeks to survive until things stabilize. ...

Many airline flights nearly empty as virus undercuts travel

Airline service in the United States is teetering on the brink of collapse, with near-empty planes and coronavirus outbreaks that have left some air traffic control towers empty. Eve...

Once booming concert industry goes quiet after coronavirus

NASHVILLE, Tenn (AP) — Inside a warehouse for MooTV, a live video production company in Nashville, Tennessee, the floor-to-ceiling shelves are lined with row after row of video screens, cables and rol...

Congress closing in on nearly $2 trillion virus aid package

WASHINGTON (AP) — Top congressional and White House officials say they expect to reach a deal Tuesday on a nearly $2 trillion measure aimed at easing the economic damage inflicted by the coronavirus p...

Q&A: What did the Fed do Monday and who will it help?

WASHINGTON (AP) — The Federal Reserve took several aggressive steps Monday to support an economy ravaged by the effects of the coronavirus. The amount of money involved is huge and the Fed's ambitions...