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Sen. Marco Rubio before the Senate Health, Education, Labor, and Pensions Committee on Capitol Hill in Washington, D.C., March 22, 2017. Senator Marco Rubio (R., Fla.) on Tuesday pushed back against President Trump’s claim that, as president, he has the authority to decide when to lift business closures imposed by governors to mitigate the spread …

The Federal Reserve on Thursday unveiled $2.3 trillion new loans to support the economy during the coronavirus crisis. The loan program aims to help businesses, households and state and local governments facing a cash crunch as large parts of the economy have been shut down. “Our country’s highest priority must be to address this public …

US stocks jumped again Thursday after the Federal Reserve announced its latest effort to shore up the nation’s coronavirus-battered economy. The Dow Jones industrial average rose as much as 561.45 points, or about 2.4 percent, in early trading following the central bank’s announcement of a $2.3 trillion loan program to help households, employers and local …

Amazon is suspending shipping on non-Amazon packages as it struggles to keep up with customer orders during the coronavirus pandemic. The test program, known as Amazon Shipping, will be paused in June because the e-commerce juggernaut needs to shift its workers toward fulfilling its own orders, the Wall Street Journal reported. “We regularly look at …

Bank of America said on Friday it has already received about 35,000 applications for federally backed small-business loans within hours of starting to accept them. The second largest US bank by assets became the first major bank to accept applications for the massive small-business rescue program approved by Congress last week. But the bank was …

FedEx said on Friday it would slash its chief executive’s pay and draw down $1.5 billion from a credit facility as parcel delivery services take a hit from coronavirus-led lockdowns across the globe. The company also plans to tap debt markets to bolster its reserves as the pandemic compounds its own troubles, including integration issues …

As the federal government prepares to launch a $349 billion loan program meant to help small businesses survive the coronavirus pandemic, critics have growing concerns that some mom-and-pop shops might get squeezed out. The Paycheck Protection Program — part of the $2 trillion relief package signed into law last week — was billed as a …

Federal officials have sued to undo tobacco giant Altria’s $12.8 billion investment in Juul over concerns that the two companies illegally quashed competition in the e-cigarette industry. The Federal Trade Commission filed an administrative complaint Wednesday to unwind the Marlboro maker’s December 2018 purchase of a 35 percent stake in Juul. Rather than battle with …

Saved by the Fed. Federal Reserve programs, estimated at $6 trillion after some $2 trillion in promised fiscal stimulus last week, have averted a Depression-era crisis for US banks, some analysts say. But the enormous Fed sums may not be enough to fully cushion banks from a financial shock that was already building before the …

Washington is finally beginning to get it. The Federal Reserve has put forth bold initiatives, and followed up with action. The Treasury and the administration have also devised creative plans to go along with the Fed’s actions — and separately helped to develop a robust economic “time-out” package sufficient to help stabilize the economy for …