Coronavirus
Manufacturers Rethink Supply Chains, Eye Reshoring After Events of 2020
An employee works on a power electronic component at the Toshiba International Corp. manufacturing facility in Houston. (Matthew Busch/Bloomberg News)
A trade war with China and the disruptive effects of the COVID-19 pandemic have U.S. companies starting to question a decades-old strategy of shifting manufacturing operations to low-cost labor markets in China and other Asian nations.
January 4, 2021OPEC+ Meets to Discuss Output Hike, With Saudis Urging Caution
Oil pumping jacks operate in a Russian oilfield in November 2020. (Andrey Rudakov/Bloomberg News)
Saudi Arabia urged caution as OPEC+ gathered to discuss whether to hike supply again in February, with many countries wary of undermining a fragile recovery.
January 4, 2021McConnell Blocks Democrats’ Bid to Pass $2,000 Stimulus Checks
Senate Majority Leader Mitch McConnell walks to the Senate floor at the U.S. Capitol on Dec. 15. (Sarah Silbiger/Bloomberg News)
Senate Majority Leader Mitch McConnell on Dec. 29 blocked an attempt by Democrats to force quick action on increasing direct stimulus payments to $2,000 despite President Donald Trump’s demands for the change.
December 29, 2020Fed Extends Main Street Program to Process Last Submitted Loans
The Federal Reserve building stands in Washington. (Stefani Reynolds/Bloomberg News)
The Federal Reserve has delayed the termination of the Main Street Lending Program to Jan. 8, from Dec. 31, to finish processing loans submitted by a Dec. 14 deadline to tap its funds.
December 29, 2020Crude Climbs in Wake of Weaker Dollar, Expected Supply Drop
Tanker trucks sit in front of storage silos in Sunray, Texas, on Sept. 26. (Angus Mordant/Bloomberg News)
Oil advanced with support from a weaker dollar and expectations of declining U.S. crude inventories.
December 29, 2020Trucking Industry Experts Optimistic About 2021, Once COVID Is Over
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The trucking industry stands poised for a solid start in 2021, building on an unprecedented 2020 during which the U.S. economy relied heavily on truckers amid the COVID-19 pandemic.
December 29, 2020All Eyes on Senate After House Backs Trump on $2,000 Checks
Senate Majority Leader Mitch McConnell hasn’t said whether the Senate would take up the House bill, attempt to vote on a different measure that would also increase direct payments or simply ignore the issue. (Oliver Contreras/Bloomberg News)
The House on Dec. 28 passed a bill replacing the $600 stimulus checks in the newly enacted virus relief bill with $2,000 payments, as Democrats and moderate Republicans voted in favor of a proposal backed by President Donald Trump.
December 28, 2020Oil’s Brief Rally Fades With Supply Risks Countering Stimulus
Gas flares burn from pipes aboard an offshore oil platform. (Ali Mohammadi/Bloomberg News)
A brief rally in crude oil deflated Dec. 28 as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+.
December 28, 2020COVID-19 Relief Package Includes $10 Billion for Highway Infrastructure
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President Donald Trump on Dec. 27 signed a COVID-19 relief package that allots $10 billion for highway infrastructure programs.
December 28, 2020House Set to Vote on $2,000 Stimulus Checks Trump Demanded
The U.S. Capitol is seen at dawn on Dec. 28. (Oliver Contreras/Bloomberg News)
The House is set to vote Dec. 28 to replace the $600 stimulus payments in the newly enacted pandemic relief law with the $2,000 President Donald Trump demanded — a Democratic-led effort that is politically fraught for congressional Republicans and unlikely to become law.
December 28, 2020