Powell: Recovery May Begin By Summer, Will Likely Be Slow
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell expressed optimism Sunday that the U.S. economy can begin to recover from a devastating recession in the second half of the ye...
Economy In Crisis: More Virus Aid Or Wait And See?
WASHINGTON (AP) — The unparalleled speed of the collapse of the U.S. economy, forcing more than 36 million Americans out of work, has left an all-too-common political divide, with ...
Air Canada To Lay Off More Than 20,000 Because Of Pandemic
TORONTO (AP) — Canada’s largest airline said Friday it plans to lay off at least 20,000 employees because of the coronavirus pandemic.
Air Canada said the cuts affect more than ...
Fed Sees Wall Street Stress If Virus Takes ‘Unexpected’ Turn
WASHINGTON (AP) — The Federal Reserve said Friday that Wall Street remains vulnerable to another shock if the global pandemic takes an “unexpected course” putting renewed strains o...
Pandemic Claims Yet Another Retailer: 118-year-old J.C. Penney
NEW YORK (AP) — The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet ...
US Retail Sales Plunged A Record 16% In April As Virus Hit
BALTIMORE (AP) — U.S. retail sales tumbled by a record 16.4% from March to April as business shutdowns caused by the coronavirus kept shoppers away, threatened stores across the co...
Buying The Plunge: Individual Investors Remain Optimistic
LOS ANGELES (AP) — The lure of snapping up stocks at bargain prices has been too strong to pass up for many people, even as uncertainty over the coronavirus pandemic clouds the mar...
36 Million Have Sought Us Unemployment Aid Since Virus Hit
WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states ...
Can’t Find What You Need On Amazon? Try These Ways To Shop
NEW YORK (AP) — Slow shipping times and sold out items have plagued Amazon since the coronavirus pandemic caused a rush of orders from home-bound people. But the world's largest on...
US Wholesale Prices Drop Record 1.3% In April
WASHINGTON (AP) — Wholesale prices slid a record 1.3% in April, led by a 19% plunge in the cost for energy.
The Labor Department said Wednesday that its producer price index, wh...
Powell Warns Of A Possible Sustained Recession From Pandemic
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell is warning of the threat of a prolonged recession resulting from the viral outbreak and is urging Congress and the White House...
Facebook To Pay Moderators $52M For Psychological Damages
NEW YORK (AP) - Facebook has agreed to pay $52 million to its content moderators whose job has them viewing graphic and disturbing posts and videos on its platforms.
In a 2018 l...
Why Prospect Of Deflation Could Pose A Threat To US Economy
WASHINGTON (AP) — The economic paralysis caused by the coronavirus led in April to the steepest month-to-month fall in U.S. consumer prices since the 2008 financial crisis — a 0.8%...
US Consumer Prices Drop 0.4% With Core Down Record Amount
WASHINGTON (AP) — U.S. consumer prices fell 0.8% in April, the biggest drop since the 2008 financial crisis, with decreases led by a huge drop in gasoline prices and from businesse...
Intel Mulls New Chip Plant in U.S. Amid Concern Over Asian Supplies
NEW YORK (AP) — Intel is talking to the Trump administration about building a new semiconductor plant in the United States amid concern about relying on suppliers in Asia for chips...
Latin America’s Second-biggest Airline, Avianca, Driven To Bankruptcy By Coronavirus
BOGOTA, Colombia (AP) — One of Latin America's largest airlines filed for Chapter 11 bankruptcy protection Sunday in New York, saying the COVID-19 pandemic has devastated its busin...
Mnuchin: Jobless Numbers Going To Likely Worsen
WASHINGTON — Treasure Secretary Steven Mnuchin says the jobless numbers in the United States “are probably going to get worse before they get better,” but the bigger risk to the co...
What Is A Good Reason For A Personal Loan?
NEW YORK (AP) - Unsecured personal loans can pay for almost anything. Their flexibility makes them easy to turn to when you want to consolidate your debts or put in that kitchen is...
UBER Loses $2.9 Billion, Offloads Bike And Scooter Business
NEW YORK (AP) — Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic, but the company is looking to its growing food de...
New Yorkers Can’t Be Evicted For Not Paying Rent Through August, Andrew Cuomo Says
NEW YORK (AP) - New York’s moratorium on outbreak-related housing evictions was extended Thursday by Cuomo for two more months.
The governor in March had issued a moratorium tha...