Wall Street attempted a rally Thursday morning, despite record-breaking unemployment claims that revealed the extent to which the economy has ground to halt due to […]
Category: Business News
More than 3 million Americans filed for unemployment claims last week
More than 3 million Americans filed for unemployment last week, according to new data released Thursday. The massive spike in new jobless claims comes as […]
‘We may well be in a recession’
Federal Reserve Chairman Jerome Powell acknowledged that the coronavirus pandemic is putting unprecedented strain on the U.S. economy but said, “there can be a good […]
With sports events shelved and consumers in lockdown, the advertising industry is in free fall
As companies across the world try to figure out the economic ramifications of the coronavirus, the advertising business is suddenly in free fall. With the […]
Wall Street slowly digests details of long-awaited fiscal stimulus plan
Markets slowly kicked into action Wednesday morning, as investors parsed whether the $2 trillion stimulus package would be able to keep pace with the compounding […]
Will the airline industry get its $25 billion bailout?
Reports that Congress has reached a deal on a $2 trillion stimulus bill that would include $25 billion in grants to help airlines pay their […]
About 4 in 10 Latinos in New York City have lost their jobs because of coronavirus
A survey published Tuesday found that job losses related to the coronavirus pandemic have disproportionately affected Latinos in New York City. Experts who surveyed 1,000 […]
Automaker employees who work shoulder-to-shoulder say plants should have closed earlier
While Detroit’s “Big Three” have all suspended North American production until at least March 30, some workers have expressed frustration, if not outright anger, that […]
Dow ends the day up 2,000 points as $2T stimulus bill takes shape
Wall Street roared back on Tuesday, with the Dow Jones Industrial Average surging by over 2,000 points for its biggest daily points gain ever. It […]
Companies seek epidemic insurance as coronavirus affects events
The 2020 Tokyo Olympics were postponed Tuesday, making the Games the biggest global event to be affected by the coronavirus pandemic. As the disease continues […]
What can the Fed do to help Main Street, not Wall Street?
The markets continued their downward trajectory Monday in spite of a sweeping pledge from the Federal Reserve to support the economy as coronavirus shutdowns accelerated […]
From liquor brands to car factories, production lines now resemble the war effort
From fashion brands to automakers to Silicon Valley tech firms, big business is stepping up to help fight the spread of the coronavirus in ways […]
With no stimulus bill in sight, markets continue their slide
Wall Street turned briefly positive Monday morning after a new round of emergency action from the Federal Reserve, before sinking into the red at the […]
New York Stock Exchange prepares for all-electronic trading
When the opening bell rings at the New York Stock Exchange on Monday, the trading floor will be empty. Because of the coronavirus outbreak, the […]
Trading designer dresses for toilet paper and portraits for groceries
When Dalia MacPhee, a fashion designer based in Los Angeles, returned home from a trip to Canada last week, she discovered she was down to […]