ECONOMY

Government Watchdogs Point Out Poor Implementation Of CARES Act's Oversight Measures

4:05pm July 15, 2020

by Tim Mak

The $2 trillion CARES Act was passed with multiple overlapping accountability mechanisms designed to prevent waste, fraud and abuse. But government watchdogs are pointing out flaws in the system.

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Pump jacks operate at dusk near Loco Hills in Eddy County, New Mexico, on April 23. U.S. oil producers are grappling with prolonged low oil prices and the uncertainty created by the coronavirus pandemic.

Economy

Oil Industry, Accustomed To Booms And Busts, Is Rocked By Pandemic

4:05pm July 15, 2020

by Camila Domonoske

When the price of oil crashes, oil companies often merge and big oil gets even bigger. So this crisis could be an opportunity for companies, but it comes with a tremendous amount of uncertainty.

More so than other big banks, Goldman Sachs depends on stock and bond trading to make money, and the financial markets were the place to be in the second quarter.

Economy

It's Nice To Be Rich: Wall Street Is Raking In Profits In The Stock Market

4:05pm July 15, 2020

by Jim Zarroli

The economy is tanking, with massive layoffs and bankruptcies. But the richest sliver of the country continues to do quite well. The latest evidence: Goldman Sachs said it's raking in money on trades.

White House Used Pandemic To Weaken Safety Regulations, Reporter Says

2:17pm July 15, 2020

by Dave Davies

New Yorker writer Jane Mayer reports on conditions at a Delaware poultry processing plant owned by a major Trump donor: "No matter what's going on, they've got to keep those chicken lines running."

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Several States Begin Walking Back Reopening Plans Amid COVID-19 Surge

7:20am July 15, 2020

NPR's Steve Inskeep talks to David Wessel, director of the Hutchins Center at the Brookings Institution, about the economic impact on states who have reversed their reopenings during the pandemic.

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Economy

Federal Tax Filing Deadline Arrives

7:20am July 15, 2020

by Scott Horsley

Wednesday is the deadline for Americans to file their tax returns. Thousands of IRS agents are still working from home, and many of the volunteers have been sidelined by the pandemic.

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Federal Immigration Agency, TSA Face Budget Shortfalls During Pandemic

4:03pm July 14, 2020

by Brian Naylor

The coronavirus pandemic may force federal agencies to lay off some workers. The agency that handles citizenship applications has announced furloughs, and the TSA is offering early retirements.

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With the help of his children, Knoxville, Tenn., resident Matt Harris put the finishing touches on his dream treehouse on Father's Day.

Economy

Stay-At-Home Improvement: DIY Builders Help Drive Up Lumber Prices

4:03pm July 14, 2020

by Scott Horsley

With summer travel plans on hold because of the pandemic, a lot of Americans are putting money into projects around the house. That's taxing lumber supplies and pushing prices higher.

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"We still face much uncertainty regarding the future path of the economy," JPMorgan Chase CEO Jamie Dimon said Tuesday in a statement accompanying the giant bank's financial results.

Economy

'We Still Face Much Uncertainty': Pandemic Hammers Big Banks

12:56pm July 14, 2020

The dramatic collapse of the U.S. economy is pummeling America's largest banks. Wells Fargo has posted its first quarterly loss since 2008 and JPMorgan Chase has set aside billions to cover bad loans.

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Drop-Off In Lottery Sales Will Hurt States' School Budgets

11:48am July 14, 2020

by Peter Medlin

Lotteries across the country are hurting with revenues down hundreds of millions of dollars. That could have big implications for states that rely on that money for a portion of education funding.

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