Biden Team Faults Mnuchin for Letting Fed Aid Programs Lapse

The president-elect's transition team sharply criticized Treasury Secretary Steven Mnuchin's decision to allow funding for several emergency Federal Reserve lending programs to expire, escalating a political fight. 


 
S&P 500 Slips, Notches Weekly Loss

The Treasury's decision to allow emergency Fed programs to expire raises uncertainty about economic support as coronavirus surges, investors said. 


 
U.S. Infections Set Another Daily Record

The latest surge of coronavirus in the U.S. continued to rise unabated as the nation reported its highest number of daily new Covid-19 infections on Thursday, and hospitalizations crossed the 80,000 mark for the first time. 


 
PPP Borrowers Are Asked to Justify Need for Loans Over $2 Million

The Small Business Administration has begun asking some Paycheck Protection Program borrowers to document why they needed loans, drawing concern from advocacy and trade groups. 


 
Banks Can't Deny Services to Entire Industries Under OCC Proposal

Proposal follows complaints that the oil-and-gas industry was unfairly denied financing by large lenders. 


 
Fed's George Says Pandemic Lessening Importance of Gasoline Prices

Kansas City Fed leader Esther George said the pandemic might have one silver lining: Americans are now less likely to feel pain from bouts of gasoline price volatility. 


 
U.S. Oil-Rig Count Drops by 5 in Latest Week, Baker Hughes Says

The number of rigs drilling for oil in the U.S. declined by five in the latest week to 231, according to oil-field services firm Baker Hughes. 


 
Job Market Growth Slows Across U.S. as Covid-19 Cases Surge

Midwestern states, where infection rates are high, are seeing growth in daily job postings stall. But other states are also seeing a slowdown. 


 
Lumber Prices Rise Again

Lumber prices are making an unusual late-season climb, thanks to builder-friendly autumn weather and suppliers stocking up for what they expect to be another big year for home construction. 


 
How General Motors Can Become a Growth Stock

Supplying battery systems to other auto makers may be GM's best hope for reviving growth as the industry transitions to electric vehicles.

(END) Dow Jones Newswires

11-20-20 1915ET