White House asks U.S. agencies to detail China-related spending

Secretary Pompeo says China foreign minister’s Cold War analogy has ‘some relevance’ Secretary of State Mike Pompeo says China is ratcheting up rhetoric in response to pressure from Trump administration. The White House has asked U.S. government agencies for extensive details of any funding that seeks to counter China’s global influence and business practices, or supports Beijing, amid growing tensions […]

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U.S. economy shrank at record-breaking 33% rate last quarter

WASHINGTON — The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday. The Commerce Department’s estimate of the second-quarter decline in the gross […]

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U.S. ending special treatment of Hong Kong amid tensions with Beijing

America removes Hong Kong’s ‘special status’ FOX Business’ Edward Lawrence says by removing Hong Kong’s ‘special status,’ it will be treated as if it were mainland China. The United States is ending its special treatment of Hong Kong as separate from mainland China, with both the State and Commerce departments announcing actions Monday that will pare back its special status. […]

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Food Inequality Crisis Deepens in U.S. Under Pandemic’s Pressure

Access to food has been unequal in America long before the onset of the coronavirus. But the pandemic has deepened the problem, with images of snaking lines at food banks bringing the harsh reality to light. Even in the U.S., one of the most food-secure nations in the world, millions face difficulty in accessing nutritious meals. Food inequality disproportionately impacts […]

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Recession hit U.S. in February, ending record-long expansion with coronavirus shutdown

WASHINGTON — The U.S. economy entered a recession in February, a group of economists declared Monday, ending the longest expansion on record. The economists said employment peaked in February and fell sharply afterward, marking the beginning of the downturn. The economists make up a committee within the National Bureau of Economic Research, a trade group that determines when recessions begin […]

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Powell Says Fed Has America’s Back With Congress Arguing Over Aid

Federal Reserve Chairman Jerome Powell said the central bank is ready to use all the weapons in its arsenal to help the U.S. economy endure the coronavirus pandemic, as attention shifts to whether Republicans and Democrats will agree to more fiscal aid. “We are committed to using our full range of tools to support the economy in this challenging time […]

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U.S. airlines tell crews not to force passengers to wear masks

United Airlines under fire amid coronavirus after passenger tweets photo of packed flight United Airlines is taking heat after a doctor tweeted a photo of his packed flight. FOX Business’ Ashley Webster with more. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below The top three U.S. airlines have told […]

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