Economy

President-elect Joe Biden is imminently expected to outline his plans for additional stimulus measures as the U.S. battles surging COVID-19 cases.

Costco is saying goodbye to one of the signature staples of its business: in-store photo centers.

Legislation providing for the $600 payments, which was approved by lawmakers at the end of last month, stipulated that the departments needed to issue all payments by Friday.

Senate Democrats plan to make another coronavirus relief package — including sending an additional stimulus payment to many Americans — one of their top priorities for the year once they assume control of the chamber.

Ten months into America’s viral outbreak, low-income workers are still bearing the brunt of job losses — an unusual and harsh feature of the pandemic recession that flattened the economy last spring.

U.S. employers shed jobs last month for the first time since April, cutting 140,000 positions, clear evidence that the economy is faltering as the viral pandemic tightens its grip on consumers and businesses.

Democrats pledged to deliver $2,000 stimulus checks to Americans as soon as possible after winning control of the Senate with a pair of victories in Georgia's runoff elections.

While the IRS and Treasury have distributed the bulk of the anticipated $164 million in second-round of relief payments for Americans faster than the first time, millions have not gotten payments yet or found hiccups in the distribution.

As COVID-19 cases continue to surge throughout the U.S. several cruise lines have extended cancellations on cruises till late spring/ early summer. 

The November gap between what America buys from abroad compared to what it sells abroad rose by 8% from the October deficit of $63.1 billion.

Move over, Jeff Bezos. There's officially a new richest person on the planet: Elon Musk.

The state Employment Development Department on Wednesday said it had examined existing claims from people who said they lost their jobs during the COVID-19 pandemic and found about 3.5 million claims were “potentially fraudulent.”

The number of Americans seeking unemployment aid fell slightly to 787,000, evidence of a job market stumbling in the face of the viral pandemic and the damage it has inflicted on the economy for nearly 10 months.

The report showed that private employers shed 123,000 jobs last month, large companies announcing for the bulk of layoffs.