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Economy
USDA Approves $1.2 Billion in Contracts for Farmers to Supply Food to Needy
The U.S. Department of Agriculture (USDA) on May 8 announced $1.2 billion in contracts to help American producers and communities hit by the pandemic. The new initiative pairs suppliers of agricultural ...
May 9, 2020
BY
Tom Ozimek
Apple Will Reopen Some Stores in US
Apple is preparing to reopen stores in the United States, nearly two months after the COVID-19 pandemic drove ...
May 9, 2020
BY
Tom Ozimek
No ‘V’-Shape Return From Devastating US Job Loss, Fed Policymakers Say
SAN FRANCISCO—As many parts of the world's biggest economy begin to reopen after weeks of stay-at-home orders that ...
May 9, 2020
BY
Reuters
Ted Cruz Gets Haircut at Salon Whose Owner Flouted Orders
DALLAS—Sen. Ted Cruz (R-Texas) on May 8 got his hair cut at a Dallas salon that became a ...
May 8, 2020
BY
The Associated Press
IRS Sets May 13 Deadline to Submit Direct Deposit Information for Stimulus Payments
The Internal Revenue Service (IRS) said the window for sending it one's bank account information to get a ...
May 8, 2020
BY
Jack Phillips
Kudlow Says Formal Talks on Next Relief Bill ‘Kind of Paused’
White House economic advisor Larry Kudlow said Friday that formal talks on the next COVID-19 stimulus package, dubbed ...
May 8, 2020
BY
Tom Ozimek
Senators Urge Trump to Temporarily Suspend Foreign Student Work Program
Four senators urged President Donald Trump on Thursday to suspend the Optional Practical Training (OPT) program for at least ...
May 8, 2020
BY
GQ Pan
Over 1,000 Workers at Tyson’s Iowa Meat Plant Test Positive for COVID-19 or Antibodies
More than 1,000 workers at the Tyson Foods plant in Waterloo have tested positive for the CCP virus, ...
May 8, 2020
BY
Tom Ozimek
Virus Fallout Destroys 20.5 Million US Jobs, Unemployment Rate Shatters Record
Battering the U.S. economy, COVID-19 shutdowns and destruction of demand have erased a staggering 20.5 million jobs in ...
May 8, 2020
BY
Tom Ozimek
Senators Propose $2,000 Checks For Duration of Virus Crisis
Sens. Kamala Harris (D-Calif.), Bernie Sanders (I-Vt.), and Ed Markey (D-Mass.) announced a draft bill Friday that would ...
May 8, 2020
BY
Tom Ozimek
Oil Heads for Another Weekly Gain on Demand Hopes and Shut-Ins
LONDON—Oil prices rose on May 8 and were on course for a second consecutive week of gains as ...
May 8, 2020
BY
Reuters
GOP Chairman Says ‘Tens of Millions More Tests’ Needed Before US Can Safely Reopen
Senate Health Committee Chairman Lamar Alexander (R-Tenn.) said Thursday that the United States needs “tens of millions more ...
May 7, 2020
BY
Tom Ozimek
Jobless Claims Top 33 Million in Past 7 Weeks, Insured Unemployment Hits Record High
As the pandemic continues to wreak havoc on the economy, more than 3 million workers in the United ...
May 7, 2020
BY
Tom Ozimek
Businesses Across US Defy Lockdown Measures: ‘We Have No Choice’
NEW YORK—A number of restaurants and businesses deemed by officials to be "nonessential" are openly defying lockdown measures ...
May 6, 2020
BY
Bowen Xiao
House Prices Likely to Dip by 2-3 Percent By Year End, Analysts Say
Home prices have remained resilient despite the pandemic, with experts saying reduced demand has been offset by a ...
May 6, 2020
BY
Tom Ozimek
Goldman Sachs Bullish on US Economy, Predicts 19 Percent Growth in Q3
Analysts at investment banking and financial services giant Goldman Sachs believe that U.S. economic activity has likely reached ...
May 6, 2020
BY
Alan McDonnell
Airbnb Cuts 1,900 Jobs as COVID-19 Pandemic Hits Home Rentals
Airbnb Inc is laying off 25% of its workforce, or nearly 1,900 employees, the home rental startup said ...
May 6, 2020
BY
Reuters
Detroit Automakers Push for Restart of Plants Within 2 Weeks
DETROIT—Major U.S. automakers are planning to reopen North American factories within two weeks, potentially putting thousands of workers ...
May 5, 2020
BY
The Associated Press
US Trade Deficit Rises Amid Record Drop in Exports
WASHINGTON—The U.S. goods trade deficit increased by the most it has in more than a year in March ...
May 5, 2020
BY
Reuters
Major Food Retailers Limit Meat Purchases Amid Pandemic
Several major supermarket chains in America have announced limits on how much meat customers can buy, citing pandemic-driven ...
May 4, 2020
BY
Tom Ozimek
Trump Administration Pushing to Rip Global Supply Chains From China: Officials
WASHINGTON—The Trump administration is "turbocharging" an initiative to remove global industrial supply chains from China as it weighs ...
May 4, 2020
BY
Reuters
Smithfield Reopens Illinois Pork Plant After COVID-19 Shutdown
Smithfield Foods has reopened its hog slaughterhouse in Monmouth, Illinois, after a weeklong shutdown because of COVID-19, the ...
May 4, 2020
BY
Tom Ozimek
J. Crew Files for Bankruptcy as Preppy Retailer Succumbs to COVID-19 Fallout
J. Crew Group filed for bankruptcy protection on May 4 with a plan to hand over control to ...
May 4, 2020
BY
Reuters
Buffett’s Berkshire Hathaway Reports Nearly $50 Billion Loss
Berkshire Hathaway, the massive conglomerate run by billionaire Warren Buffett, posted a nearly $50 billion net loss in ...
May 2, 2020
BY
Wire Service
Vision for US Energy Critical After Worst Shock Since WWII
Global energy systems are experiencing their biggest shock in seventy years as the equivalent of "the entire energy ...
May 1, 2020
BY
Alan McDonnell
Lawmakers Call on Amazon Chief to Testify Voluntarily or Face ‘Compulsory Process’
Members of the House Judiciary Committee called on Amazon chief Jeff Bezos to testify in an antitrust investigation ...
May 1, 2020
BY
Tom Ozimek
Kroger Is Limiting Ground Beef and Pork Purchases in Some Stores
The slowdown at meat processing plants from the CCP virus outbreak has led to a wave of panic-shopping ...
May 1, 2020
BY
Wire Service
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