Coronavirus

U.S. clocks record deficit in October on pandemic spending

It's a milestone that may further complicate efforts on another government relief bill, something economists have warned will be badly needed as a second wave of coronavirus infections tightens restrictions on businesses, potentially spurring more layoffs that leave workers struggling to pay for housing and food.

Wall Street's year-end bonus payments expected to take a hit

New York consulting firm Johnson Associates estimates that retail and commercial bankers will see the largest incentive payment declines while fixed income sales professionals and traders will see the significantly larger incentive payments.