China is committed to its Phase 1 trade deal with the United States and is working towards meeting its promise to boost U.S. purchases, even though the pace of buying has been restrained by the coronavirus outbreak, three Chinese sources said.
The United States on Tuesday reported a record $738 billion budget deficit in April as an explosion in government spending and a shrinking of revenues amid the novel coronavirus pandemic pushed it deeply into the red.
Congressional Democrats proposed a new stimulus package on Tuesday. The bill calls for a second round of stimulus checks of $1,200 per individual, or up to $6,000 per household.
In the massive legislative package House Democrats unveiled on Tuesday to inject more relief into an economy battered by the coronavirus, unemployed Americans would get an extra $600 a week through the end of the year.
A government auction of 10-year Treasury notes set record low rates for all federal student loans taken out during the upcoming academic year.
The S&P 500 dipped in choppy trading on Tuesday as the top U.S. infectious disease expert warned Congress that a premature opening of the nation's economy could lead to additional outbreaks of the novel coronavirus.
A new coronavirus relief bill has been proposed, and House Democrats are seeking to roll back the $10,000 cap on state and local tax deductions.
U.S. private equity firm KKR & Co Inc said on Tuesday it led an investor group making a $43 million investment in Slice, an online delivery platform for local pizza shops across the country.
The S&P 500 dropped 2% on Tuesday as investors took profits following a warning from the top U.S. infectious disease expert that premature moves to reopen the nation's economy could lead to novel coronavirus outbreaks and set back economic recovery.
World equity markets slid and safe-haven bonds climbed on Tuesday as rising concerns about a second wave of coronavirus infections outweighed stronger economic data from China and upbeat corporate earnings in Europe.
Twitter Inc on Tuesday became the first major tech company to allow employees who can work remotely to do so indefinitely, as the coronavirus outbreak forces unprecedented changes in work culture across the world.
The top three U.S. airlines have told their flight attendants not to force passengers to comply with their new policy requiring face coverings, just encourage them to do so, according to employee policies reviewed by Reuters.
A group of 13 U.S. attorneys general on Tuesday asked Amazon.com Inc to provide data on coronavirus-related deaths and infections among its workforce, along with evidence of the company's compliance with paid sick leave laws.
A senior Federal Reserve official on Tuesday defended before Congress the central bank's decision to allow lenders to continue issuing dividends, even as the regulator seeks permission from lawmakers to further relax capital rules.
With the U.S. economy facing its potentially deepest economic decline in nearly a century, Wall Street is pulling further and further ahead from Main Street.