The Week in Business: A Ransom for Fuel

By Charlotte Cowles Good morning and happy Sunday. Here’s what you need to know in business and tech news for the week ahead. — Charlotte Cowles What’s Up? (May 9-15) Panic at the Pump A cyberattack on Colonial Pipeline, one of the biggest fuel arteries in the United States, pushed

Inflation Fear Lurks, Even as Officials Say Not to Worry

Prices have yet to show much movement, but the prospect of an unbridled economy’s surging back from the pandemic has unsettled the markets. By Nelson D. Schwartz and Jeanna Smialek While the Biden administration’s ambitious effort to salve the pandemic’s deep economic wounds made its way through Congress, proponents insisted

A Year of Hardship, Helped and Hindered by Washington

When the coronavirus pandemic struck last March, Kathryn Stewart was working at a gas station in rural Michigan and living in her mother’s trailer with eight relatives, three dogs and a budget with no room for error. Her mother, who is disabled, soon urged her to quit to avoid bringing

Biden Seizes on Weak Job Gains to Call for Quick Stimulus Action

WASHINGTON — President Biden, spurred on by a lackluster January jobs report and Democratic support for his $1.9 trillion economic aid proposal, said on Friday that the economy was in need of urgent help and that Republicans should either get on board with a robust stimulus package or expect his

Democrats Speed Ahead on Economic Aid Package

WASHINGTON — Democrats on Tuesday took the first step to push through President Biden’s $1.9 trillion economic rescue plan, using a budgetary maneuver that could eventually allow the measure to become law without Republican support. The move advanced the two-track strategy that Mr. Biden and Democratic leaders are employing to

$500 Billion in Aid to Small Businesses: How Much Did It Help?

As Democrats and Republicans spent months last fall arguing over how to rescue the economy, one provision drew widespread support from lawmakers: reviving the Paycheck Protection Program, the government’s marquee effort to help small businesses weather the pandemic. The Senate Republican leader, Mitch McConnell of Kentucky, called the lending program

When Will Taxes Go Up?

Unwinding the 2017 Trump tax cuts will be a big test for President Biden. By Andrew Ross Sorkin, Jason Karaian, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni Taxing times President Biden has unveiled a flurry of actions aimed at unwinding much of the Trump administration’s agenda. But

Goldman lifts US forecast on Biden's US$1.9 trillion rescue plan

NEW YORK (BLOOMBERG) – Goldman Sachs Group economists raised their growth forecasts for the US this year and beyond after President-elect Joe Biden unveiled a sweeping revival plan calling for US$1.9 trillion (S$2.5 trillion) in spending. In a weekend report to clients, economists led by Jan Hatzius predicted the economy

Jobless claims dip in US, but recovery yet to take hold

WASHINGTON • Fewer Americans sought unemployment benefits last week, but the modest drop did little to dispel concerns that the US job market and wider economy face an arduous recovery from the devastation inflicted by the coronavirus pandemic last year. The final major economic data point for last year, which

Opinion | ‘Let’s Talk About “Personal Responsibility”’: A Year of Tough Conversations in the Comments

This has been a tumultuous 12 months, a harrowing ride through the pandemic and elections, racial injustices and civic turmoil. Through it all, in your comments, you’ve shared your fears, frustrations and anger, but also hope, humor and much wisdom. In the process, you helped document this extraordinary year. We