While Congress has already authorized $4 trillion, the White House argues that another $1.9 trillion is needed to cover responding to the virus and providing enhanced jobless benefits and payments to households. Relief legislation will likely need bipartisan support to emerge from the Senate.
Business & Financial News, U.S & International Breaking News
Asian shares rise as U.S. stimulus plans offset virus woes
Asian shares rose on Monday as concerns over rising COVID-19 cases and delays in vaccine supplies were eclipsed by expectations of a $1.9 trillion fiscal stimulus plan to help revive the U.S. economy.
Mexican president's past health woes sharpen focus on COVID-19 diagnosis
Mexican President Andres Manuel Lopez Obrador's history of heart problems and high blood pressure will complicate doctors' efforts to combat the COVID-19 infection poised to undermine the towering role he has taken in public life.
European lenders exit Amazon oil trade after scrutiny by campaigners
Credit Suisse, Dutch lender ING and France's BNP Paribas have decided to stop financing the trade in crude oil from Ecuador, the banks said on Monday, following pressure from campaigners aiming to protect the Amazon rainforest.
Splintered coalition reflects fate of Egypt's uprising a decade on
Ten years ago protesters surged onto Egypt's streets, emboldened by the success of Tunisia's Arab Spring uprising.
Pacific island nations turn to Beijing-backed AIIB as pandemic sinks economies
Pacific island nations are turning to China-led agencies to plug funding gaps in their pandemic-ravaged budgets after exhausting financing options from traditional western partners, stoking fears the region is becoming more dependent on Beijing.
Trump's coming impeachment trial aggravates rift among Republicans
The coming second impeachment trial of former U.S. President Donald Trump on a charge of inciting the deadly storming of the Capitol has aggravated a rift among his fellow Republicans that was on full display on Sunday.
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