Business and Economic News

April 23, 2020 5:18 PM

Congress passes latest economic relief package to confront coronavirus

It is the fourth measure approved by Congress in less than two months to combat the pandemic. This one, totaling $484 billion, will supply fresh funding to a new small business lending program.

by Susan Davis, Claudia Grisales and Kelsey Snell

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April 23, 2020 4:50 PM

How a drop in oil prices today could fuel tomorrow's energy transition

Demand for oil will increase when stay-at-home orders are lifted. But the oil industry may be slow to meet that demand, sending oil prices soaring — along with consumers’ interest in alternatives.

by Paul Huttner and Megan Burks

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April 23, 2020 4:40 PM

Even knowing the risks, some counties want tourists back

The governor’s response to COVID-19 has brought the tourism industry close to disaster, some officials say.

by John Enger

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April 23, 2020 7:35 AM

26 million jobs lost in just 5 weeks

The number of people forced out of work during the coronavirus lockdown keeps soaring. Last week, 4.4 million people filed for jobless benefits, boosting the total since last month to 26 million.

by Jim Zarroli and Avie Schneider

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April 23, 2020 4:01 AM

Europe's economy was hit hard too, but jobs didn't disappear like in the U.S.

Many governments, especially in European countries, are handling unemployment differently, paying companies to keep their workers on the payroll until the pandemic is over.

by Jim Zarroli

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April 22, 2020 5:39 PM

'I have nothing': A small business owner struggles without first round of funding

Kemi Lawani, owner of Bonita’s Extensions and Braids, was one of the many small business owners who didn’t receive any funding from the Small Business Association’s Paycheck Protection Program loans.

by Tarkor Zehn and Tom Crann

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April 22, 2020 5:11 PM

Why the world is still pumping so much oil even as demand drops away

The pandemic means the world is using far less oil. But pumps are still going, creating a huge oversupply. Companies are often willing to operate pumps at a loss — for a little while.

by Camila Domonoske

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April 22, 2020 5:04 PM

Petition urges Minnesota to ‘reopen Brainerd Lakes’

A petition urging state officials to allow businesses in the popular Brainerd Lakes Area to reopen as soon as possible has gotten thousands of signatures — but also some detractors.

by Kirsti Marohn