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Business and Economic News

Trump's economic rescue package could approach $1 trillion

Trump's economic rescue package could approach $1 trillion

In a massive federal effort, President Trump asked Congress to speed emergency checks to Americans, enlisted the military for MASH-like hospitals and implored ordinary people — particularly socially active millennials — to do their part by staying home to stop the spread of the coronavirus.
by The Associated Press

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Minnesota unemployment office receiving 2,000 applications an hour

Minnesota unemployment office receiving 2,000 applications an hour

An executive order temporarily closing or limiting some Minnesota businesses is expected to trigger the largest unemployment payout in state history. The commissioner handling that effort spoke with MPR News’ All Things Considered host Tom Crann.
by Tom Crann and Megan Burks

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Walz gets some legislative pushback on closure order

Walz gets some legislative pushback on closure order

Some Republican lawmakers are questioning whether Gov. Tim Walz went too far in ordering bars, restaurants and other businesses to close in an effort to slow the spread of COVID-19.
by Tim Pugmire

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U.S. stocks jump as White House plans $1 trillion stimulus

U.S. stocks jump as White House plans $1 trillion stimulus

In a rebound from its record plunge, the Dow gained more than 1,000 points as the White House planned a massive stimulus package and the Fed set up a new loan program to boost the economy.
by Avie Schneider

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Poll: Nearly 1 in 5 households have lost work because of pandemic

Poll: Nearly 1 in 5 households have lost work because of pandemic

Nearly 20% of U.S. households have experienced either a layoff or a reduction in work hours because of the coronavirus, according to a new NPR/PBS Newshour/Marist poll.
by Camila Domonoske

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Mall of America closes due to COVID-19 concerns

Mall of America closes due to COVID-19 concerns

The Mall of America will close temporarily beginning at 5 p.m. Tuesday until at least March 31.
by MPR News Staff

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White House seeks $850B economic stimulus amid virus crisis

White House seeks $850B economic stimulus amid virus crisis

The White House is proposing a roughly $850 billion emergency stimulus to address the economic cost of the new coronavirus. The request will be outlined to Senate Republicans Tuesday and will aim to provide relief for small businesses and the airline industry and include a massive tax cut for wage-earners.
by The Associated Press

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Workers affected by coronavirus can apply for unemployment

Workers affected by coronavirus can apply for unemployment

The Minnesota Department of Employment and Economic Development is encouraging people who’ve lost work because of the novel coronavirus to apply for unemployment benefits promptly.
by Martin Moylan

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Stocks go into shock. Dow plunges nearly 3,000

Stocks go into shock. Dow plunges nearly 3,000

The Dow tumbled nearly 13 percent after the Federal Reserve aggressively cut interest rates to near zero and as the nation imposed more restrictions in an effort to curb the spread of the coronavirus.
by Avie Schneider

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Tenn. brothers donate sanitizer products bought for resale

Thousands of bottles of hand sanitizer and packs of antibacterial wipes and medical masks have been donated after a failed attempt by two Tennessee brothers to resell them for profit.
by The Associated Press

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