Money & The Economy

A federal district court in Washington, D.C., concluded that the settlement reached with the merging parties and Dish Network Corp. to allow the T-Mobile/Sprint transaction to proceed, subject to substantial divestitures and other remedies, should proceed. “I am pleased that the court has entered the final judgment, and I appreciate all of the work from Judge Kelly and the district ...

President Donald Trump on Friday signed a relief package for Americans financially hurting under the coronavirus lockdown, including a stimulus package for small business owners.  The $2.2 trillion bill makes available $10 million for each small business, including $1 million that would be made immediately available.  These funds will go from the treasury to a cadre of local banks affiliated ...

While the economic impacts of the coronavirus are still developing, there are plenty of industries around the world who are already suffering major consequences. The airline industry, for example, is requesting a massive bailout with major US airlines such as American, Southwest, and United feeling the strain. Fortunately, there are other industries that are thriving during this crisis and are ...

Federal Reserve Bank of St. Louis President James Bullard warns that the U.S. unemployment rate will soon hit 30% as government officials continue pushing shutdowns to prevent the spread of coronavirus. Such measures will also cause a 50% drop in gross domestic product, Bullard said in a Bloomberg interview published Sunday. He also questioned why officials are purposely shuttering entire ...

A labor union that represents 300,000 hospitality workers said Wednesday it expects upwards of 90% of its members could soon be out of a job due to coronavirus. The Unite Here labor union represents people that work in hotels, airports and casinos, industries that have been decimated by massive drops in demand due to the outbreak, HuffPost reported. Unite here ...

The New York Stock Exchange (NYSE) paused trading on Monday after stocks plummeted more than 10% over coronavirus concerns, triggering a 15-pause in trading. The coronavirus pandemic is still wreaking havoc on the stock market, despite major action by the Federal Reserve to improve investor confidence. On Monday morning, the S&P 500 and Nasdaq fell about 9%, and the Dow ...

Oil prices tumbled Monday as Saudi Arabia and Russia haggle over whether to reduce crude production amid fears that coronavirus will hamper air travel and potentially wreck the global economy. Prices fell into the $30s as the Saudis push for a cut in output to prop up prices, while Russia went the others way, and decided to infuse the market ...

The U.S. economy added 273,000 jobs in February, while the unemployment rate was almost unchanged at 3.5%, according to Department of Labor data released Friday. There were 273,000 jobs added in February, according to the Bureau of Labor Statistics report — about 48,000 more jobs than were added in January. February’s unemployment rate dipped slightly to 3.5% from January’s 3.6%, ...

Americans in nearly a dozen swing states could expect to spend roughly $75,000 per year if the Green New Deal is ever implemented, according to a report Wednesday from a conservative nonprofit group. The so-called GND would cost households an average of $74,287 and $76,683 in Colorado, Michigan, Pennsylvania, among others, a report from the Competitive Enterprise Institute noted. CEI ...

U.S. stocks plunged Monday morning over fears of a possible global coronavirus pandemic. The Dow Jones dropped 997 points, or 3.4%, when markets opened Monday, CNN reported. The S&P 500 and Nasdaq also fell 3.2% and 4.3%, respectively. The Monday morning plunge puts the Dow on pace for its biggest one-day drop since mid-August when it dropped 800 points after ...

A Virginia-based GOP group launched a website Wednesday that provides voters information about how their respective states will fare if Vermont Sen. Bernie Sanders’s climate policies are put into action. One of the resources featured on the Green New Deal Stats website is an interactive map highlighting what industry leaders believe the so-called Green New Deal (GND) will do to ...

A judge approved Sprint and T-Mobile’s multi-billion dollar merger Tuesday, effectively creating the country’s largest wireless company as the country tries to compete with China on 5G. The $25 billion deal is expected to allow the combined company to provide services to more than 100 million subscribers. Sprint and T-Mobile are independently the third and fourth largest companies in the ...

The plans introduced by most 2020 Democratic presidential candidates to maintain solvency for government entitlement programs would ultimately lower wages for American workers, a study found. The Tax Foundation, a right-leaning think tank based in Washington, D.C., released a study Tuesday finding that most of the plans pushed by the current crop of Democratic presidential candidates would stifle economic growth ...

An outbreak of the novel Coronavirus (2019 nCoV) is already having a negative impact on China’s automotive industry and has the potential to disrupt the North American auto industry as well, according to an alert published by LMC Automotive, a leading independent automotive global forecasting and market intelligence company. In the alert, LMC ‘s base case scenario expects the epidemic to continue ...

Tech giant Huawei is accusing American telecommunications company Verizon of violating several patents as the Chinese company tries to stay relevant inside the U.S., a lawsuit filed in Texas Thursday shows. Verizon Communications violated 12 patents on digital communications and other technology, Huawei said in a copy of the lawsuit. The lawsuit was filed after negotiations failed to produce a ...