CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC’s Rahel Solomon explains the challenges facing state labor offices when it comes to implementing new enhanced unemployment benefits from the federal government. Plus, a deep dive into Spotify’s podcast acquisition spree.
The $600 boost in weekly unemployment checks ends Friday.
With negotiations between Democrats and Republicans at an impasse, millions relying on that aid are in the dark as to what comes next.
Meanwhile, the economic recovery appears to have stalled or reversed, coronavirus infections are surging, eviction protections have expired for many and plans to reopen schools remain in flux, potentially requiring many parents to forgo work for child-care duties.
A second set of stimulus checks could be on the way, but the ink on the deal hasn’t dried yet.
On Thursday, a group of Republican senators introduced a bill that would lower the sum the government sends out to $1,000. Previous Republican and Democrat proposals have called for $1,200 checks to adults and $500 to dependents.
Under the terms of the new bill, the $1,000 checks would be sent to all Americans, regardless of their age or dependent status.
Spotify Technology missed quarterly revenue expectations on Wednesday and forecast a soft current quarter, due mainly to a decline in ads as the Covid-19 pandemic kept advertisers at bay.