Here’s where stimulus talks stand after Trump administration’s $1.8 trillion proposal

Lawmakers’ on-again, off-again stimulus talks were revived over the weekend after President Donald Trump’s administration put forth a $1.8 trillion offer — but a deal on another coronavirus relief package remains in limbo.

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The president last week called off negotiations and shifted the focus to confirming his Supreme Court nominee Amy Coney Barrett, a move heavily criticized by Democrats in Congress.

“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business,” Trump tweeted Oct. 6.

The White House pivoted on its stance days later by offering its costliest plan yet.

Its $1.8 trillion proposal includes another round of $1,200 stimulus checks like those sent to Americans under the CARES Act in the spring and a $400 weekly boost to unemployment benefits among other things, according to

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Exclusive: Huawei in talks to sell parts of its Honor smartphone business – sources

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

FILE PHOTO: Huawei’s new Honor 20 smartphone is seen at a product launch event in London, Britain, May 21, 2019. REUTERS/Peter Nicholls/File Photo

Embattled Huawei is resetting its priorities due to U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere

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Exclusive: Huawei in Talks to Divest Parts of Honor Smartphone Business, Sources Say | Investing News

HONG KONG (Reuters) – Huawei Technologies Co Ltd is in talks with Digital China Group Co Ltd <000034.SZ> and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan ($3.7 billion), people with knowledge of the matter said.

Embattled Huawei is resetting its priorities in the face of U.S. sanctions and will focus on its higher-end Huawei phones rather than the Honor brand which is aimed at young people and the budget conscious, they said.

The assets to be sold have yet to be finalised but could include Honor’s brand, research & development capabilities and related supply chain management business, two of the people said.

The deal may be an all-cash sale and could end up smaller, worth somewhere between 15 billion yuan and 25 billion yuan, one of the people said.

Digital China, the main distributor for Honor

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Where COVID-19 stimulus talks stand after new Trump offer

Lawmakers’ on-again, off-again stimulus talks were revived over the weekend after President Donald Trump’s administration put forth a $1.8 trillion offer — but a deal on another coronavirus relief package remains in limbo.

The president last week called off negotiations and shifted the focus to confirming his Supreme Court nominee Amy Coney Barrett, a move heavily criticized by Democrats in Congress.

“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business,” Trump tweeted Oct. 6.

The White House pivoted on its stance days later by offering its costliest plan yet.

Its $1.8 trillion proposal includes another round of $1,200 stimulus checks like those sent to Americans under the CARES Act in the spring and a $400 weekly boost to unemployment benefits among other things, according to NBC News.

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Wall Street finishes up as stimulus talks continue

(Reuters) – U.S. stocks rose on Friday and the S&P 500 and Nasdaq registered their biggest weekly percentage gains since July as optimism over more federal fiscal aid grew.

FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 28, 2020. REUTERS/Lucas Jackson

Talks were expected to continue on a COVID-19 stimulus package, even though U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed on Friday to reach agreement.

Mnuchin floated a new proposal Friday afternoon, but an aide for Pelosi said it lacked a broad plan to contain the pandemic.

Recent trading on Wall Street has been dictated by headlines on fiscal aid, with the three main indexes tumbling on Tuesday after U.S. President Donald Trump called off negotiations. He has since

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Economists warn of ‘huge’ consequences to halting stimulus talks

Economists and business leaders warn there could be dire consequences if another round of coronavirus stimulus aid isn’t approved shortly — a plausible scenario after President Donald Trump abruptly called off negotiations until after the election.



a group of people holding a sign: Tenants and housing rights activists protest for a halting of rent payments and mortgage debt, during the COVID-19 outbreak, in Los Angeles, Oct. 1, 2020.


© Lucy Nicholson/Reuters
Tenants and housing rights activists protest for a halting of rent payments and mortgage debt, during the COVID-19 outbreak, in Los Angeles, Oct. 1, 2020.

The coronavirus pandemic clobbered the U.S. economy with unprecedented speed in March, shutting down huge swaths of industry and pushing 22 million people out of work in a little over a month. While approximately half of that number of jobs lost have been gained back, the U.S. economy remains deeply entrenched in pain and the new layoffs continue.



a man in a suit standing in front of a building: President Donald Trump walks to Marine One, Oct. 5, 2020, at Walter Reed Medical Center in Bethesda, Md.


© Saul Loeb/AFP via Getty Images
President Donald Trump walks to Marine One, Oct. 5, 2020, at Walter Reed Medical Center in Bethesda, Md.

Democrats, led by House

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Dow closes 160 points higher, posts best week since August as investors monitor stimulus talks

Stocks rose on Friday to end their best week in months as President Donald Trump signaled support for a bigger coronavirus aid package. 

The Dow Jones Industrial Average closed 161.39 points higher, or 0.6%, at 28,586.90. The S&P 500 gained climbed 0.9% to 3,477.13. The Nasdaq Composite advanced 1.4% to close at 11,579.94.

Microsoft and Salesforce led the Dow higher, rising 2.5% and 2.2%, respectively. Consumer discretionary and tech were the best-performing S&P 500 sectors, advancing more than 1% each. 

For the week, the Dow jumped 3.3% and posted its biggest one-week gain since August. The S&P 500 and Nasdaq were up 3.8% and 4.6%, respectively, for the week. Both benchmarks had their best weekly performance since early July. 

Trump tweeted on Friday that “Covid Relief Negotiations are moving along. Go Big!”

CNBC’s Ylan Mui reported the administration has raised its offer for a new aid package to $1.8 trillion

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Swiss Central Bank Faces Crunch Talks on Work Culture Crisis

(Bloomberg) — Thomas Jordan’s biggest personnel crisis since the Swiss National Bank president took the helm eight years ago is about to come to a head.

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The central-bank chief has already been forced to defend his institution publicly over media reports claiming the work culture under his leadership discriminates against women. Now lawmakers are scrutinizing the matter, and Jordan is due to meet with his supervisory board — the Bank Council — on Monday to discuss the merit of the allegations.

“The SNB cannot afford such a blow to its reputation,” Susanne Vincenz-Stauffacher, a lawmaker for the pro-business Free Democrats, said in an interview. “It’s a wake-up call for the SNB’s Bank Council.”

A spokeswoman for the central bank declined to comment on the upcoming meeting.

The storm brewing behind the austere neo-Renaissance facade of the SNB’s 1920s-era headquarters in Zurich is an embarrassing distraction for one of

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5 tips to get help for your small business, as relief talks remain in limbo

After calling off broader talks on an economic stimulus package, President Trump reversed course Tuesday night, urging Congress to approve smaller relief measures, including funding for small-business loans. Yet there is still a great deal of uncertainty about when another stimulus bill will deliver emergency aid to millions of Americans impacted by the Covid-19 pandemic, including small-business owners.

“The real problem is there just isn’t enough financial help right now, especially if your business did not qualify to get it before,” said Jill Johnson, CEO of the Institute for Entrepreneurial Leadership, a non-profit business consulting firm in Newark,  New Jersey. 

The federal government’s Paycheck Protection Program approved more than 5.2 million loans totaling $525 billion in emergency relief funding. For many small-business owners who received those loans, however, that money has run out. And others are still struggling. 

More from Invest in You:
Tips for small-business owners trying to survive

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