Economy

Moody's revised its outlook on the Chicago Transit Authority and Regional Transportation Authority to negative as COVID-19 threatens their revenue streams.

State lawmakers will return to Columbia for a two-day session that will also determine what to do with embattled state-owned utility Santee Cooper.

Projections for U.S. unemployment hitting 20% or higher may be too severe, according to a paper released Thursday by the Federal Reserve Bank of Cleveland.

New report says hospitals lost a total of $1.44 billion a day between March and mid-April.

Federal Reserve Bank of San Francisco President Mary Daly said she expects the U.S. economy to shrink this year with a recovery only getting under way next year.

Federal Reserve Bank of Minneapolis President Neel Kashkari says the coronavirus will inflict “devastating” levels of U.S. unemployment and economic recovery will be long and gradual.

The House is expected to release a stimulus package in the next few days.

The Fitch downgrade to A-plus from AA-minus affects nearly $2 billion in debt.

Bringing bond denominations down to $1,000 would capture goodwill from New York residents and transit riders, said Mitchell Moss of New York University.

The impact of COVID-19 is still ripping through the economy as the Institute for Supply Management-New York index fell to a new low of 4.3 in April and factory orders slumped 10.3% in March.

California's response to COVID-19 became a factor in Verity Health System's Chapter 11 proceedings.

Broker-dealers oppose a proposed change to MSRB's governance rule that would reserve two seats for municipal advisors.

The coronavirus is having a profound effect on the U.S. economy, but it should be able to stage a strong comeback, said former Federal Reserve Chairman Alan Greenspan.

Federal grants for the 10 transit systems with the highest ridership will cover their funding shortfalls an average of 5.4 to 8.3 months, according to a new estimate.

Charles Doraine settled with the Financial Industry Regulatory Authority on Monday without admitting or denying FINRA’s findings.

The system's offering statement presents a detailed picture of the pandemic's impact so far.

Several of the Lone Star State's manufacturing indexes dropped to record lows in April, a Dallas Fed survey showed.

Economists also expect the Fed's balance sheet to more than $10 trillion as policymakers look to lift the country from a recession brought on by the coronavirus pandemic.

While the number of people filing for unemployment dropped to 4.4 million, there are now 26 million Americans without work and economists expect the unemployment rate to hit 20%.

The March losses underscore the fiscal strains for hospitals but many facilities are expected soon to resume elective surgeries and diagnostic procedures.