Quibi is shutting down, citing low subscriptions amid COVID-19 pandemic

A short six months after promising to revolutionize video viewing, short-form streaming service Quibi raised a white flag Wednesday and announced it was shutting down.

Coronavirus relief talks crawl ahead; McConnell is resistant

President Donald Trump’s most powerful Senate ally is pressing the White House not to move ahead on a coronavirus pandemic relief package.

McConnell says any Pelosi-Mnuchin COVID-19 stimulus deal would get Senate vote

Senate Majority Leader Mitch McConnell said he'll schedule a vote if House Speaker Nancy Pelosi and the Trump administration are able to seal an agreement on a huge COVID-19 relief bill.

China's economy accelerates as coronavirus recovery gains strength

China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions.

DOJ charges Houston billionaire in $2 billion tax fraud scheme

Department of Justice officials said that Texas billionaire Robert Brockman hid capital gains income over 20 years through a web of offshore entities in Bermuda and Nevis and secret bank accounts in Bermuda and Switzerland.

Layoffs remain elevated as 898,000 seek unemployment aid

The government will issue its latest snapshot Thursday of the level of layoffs in the United States, which remain elevated seven months after the viral pandemic erupted and after the expiration of federal unemployment aid for millions of Americans.

Mitch McConnell slates October revote on GOP COVID-19 relief plan

Senate Majority Leader Mitch McConnell says that he’s scheduling a procedural vote on a GOP COVID-19 relief bill for next week.

Social Security checks will increase 1.3% in 2021

Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people.

2 Americans awarded Nobel Prize in economics

Americans Paul R. Milgrom and Robert B. Wilson have won the Nobel Prize in economics for “improvements to auction theory and inventions of new auction formats.”

Biden hits Trump on economic fallout amid COVID-19 pandemic in critical Pennsylvania county

Democratic presidential candidate Joe Biden is blistering President Donald Trump as only pretending to care about the working-class voters who helped flip the Rust Belt to the Republican column four years ago.

Layoffs continue as 840,000 seek unemployment aid

The government will provide its latest picture Thursday of the pace of layoffs in the United States, which have remained high since the viral pandemic erupted in March while federal aid for the jobless has lapsed.

IRS reaching out to millions who have not claimed $1,200 stimulus check

The head of the IRS, on the defensive over millions of Americans in danger of missing coronavirus relief payments, says the agency is reaching out to low-income and homeless people, military personnel and veterans and those with limited English to notify them they may be eligible.

Trump halts COVID-19 stimulus talks until after election

President Donald Trump says he has instructed aides to stop negotiating on another round of COVID-19 relief until after the election.