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Ray Ciccarelli, the NASCAR driver who threatened to quit after the sport banned the Confederate flag, tried to set the record straight about his controversial post on Facebook, saying he believes his thoughts were misconstrued but doesn’t regret what he said. Ciccarelli took part in the NASCAR Gander RV & Outdoors Truck Series this weekend, …

A large number of small US businesses could fail during the coronavirus recession, the Federal Reserve said on Friday, slowing recovery and creating lasting damage to the world’s largest economy. “The nature of the economic recovery that follows the COVID-19 crisis will depend in part on the survival of small businesses,” the Fed said in …

NASCAR announced Wednesday that it would ban displays of the Confederate flag at its races Wednesday, after Bubba Watson — the lone black driver in the sport — called for its banning. “The presence of the Confederate flag at NASCAR events runs contrary to our commitment to providing a welcoming and inclusive environment for all …

US Treasury Secretary Steven Mnuchin said on Wednesday he would seriously consider more direct payments to individuals in the next phase of coronavirus rescue legislation, adding that funds should also be targeted to help sectors struggling to reopen, including hospitality and tourism. Testifying before the Senate Small Business Committee, Mnuchin said the Treasury also planned …

The Federal Reserve on Wednesday signaled years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5 percent decline in gross domestic product this year, a 9.3 percent unemployment rate at year’s end — and no interest rate increases through 2022. In the first economic …

The dollar dropped to a three-month low on Wednesday as speculation increased that the Federal Reserve will announce later in the session it intends to keep the recent rise in bond yields in check. Concern about possible measures or even a simple statement of intent by the Fed to hold down the yields of US …

The Great Crash of 2020 was not caused by a virus. It was precipitated by the virus, and made worse by the crazed decisions of governments around the world to shut down business and travel. But it was caused by economic fragility. The supposed greatest economy in US history actually was a walking sick man, …

US stocks tumbled Tuesday after a six-day rally that had briefly left the S&P 500 index in positive territory for the year. The Dow Jones industrial average dropped as much as 421.38, or 1.5 percent, to 27,151.06 by midday, as doubts resurfaced about the US economy’s ability to recover from the coronavirus crisis. The blue-chip …

Rafael Nadal and Novak Djokovic each expressed little desire to come to New York for the U.S. Open, still slated to start Aug. 31 in Flushing Meadows, likely without fans. According to a tennis source, Roger Federer is also on the fence about playing the Open if it is staged. Your loss, Rafa, Roger and …

A technical snafu in a US government system caused many small businesses to receive loans twice or more under a federal aid program to help businesses hurt by the COVID-19 pandemic, nearly a dozen people with knowledge of the matter said. The money mistakenly handed out could amount to hundreds of millions of dollars that …