Business category, Page 242
Report: Toilet paper shortage a result of people being home more, not hoarding
By now, most have heard about confrontations between people wanting to buy toilet paper during the coronavirus pandemic that have reached the point of authorities having to intervene. A recent report from USA Today suggests the idea that people have been selfishly hoarding the highly coveted tool may not paint...
Another stock rally loses steam, still headed for big week
NEW YORK — A rally on Wall Street Thursday is fading, the second time this week that a big early gain threatened to give out in the afternoon. The S&P 500 is up 1.1% with an hour to go in trading after earlier being up as much as 2.5%. The...
Pandemic has set the number of air travelers back decades
The number of Americans getting on airplanes has sunk to a level not seen in more than 60 years as people shelter in their homes to avoid catching or spreading the new coronavirus. The Transportation Security Administration screened 94,931 people on Wednesday, a drop of 96% from a year ago...
U.S. economy unlikely to recover as rapidly as it collapsedVideo
BALTIMORE — President Donald Trump has been telling voters that the U.S. economy will leap back to life “like a rocket,” stronger than ever after its bout with the coronavirus. But there is a reason economics is called the “dismal science.” There are emerging signs that any recovery will fail...
Hurry up and wait? Why relief to small businesses has lagged
NEW YORK — Speed is of the essence if a federal relief program for small businesses is going to be effective in combating the damage wrought by the coronavirus lockdowns. Yet, days into the program, many Main Street businesses are still waiting for the cash infusion necessary to stay alive....
Fed rolls out $2.3 trillion to stabilize governments, businessesVideo
WASHINGTON — The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to support the economy. The money will target American households and businesses, as well as local governments besieged by the coronavirus outbreak. The Fed said Thursday that it is activating a Main Street...
Record 16.8 million have sought U.S. jobless aid since virusVideo
WASHINGTON — With a startling 6.6 million people seeking jobless benefits last week, the United States has reached a grim landmark: More than one in 10 workers have lost their jobs in just the past three weeks to the coronavirus outbreak. The figures collectively constitute the largest and fastest string...
Virus casts a dark cloud over once-thriving home marketVideo
BOSTON — When Rebeka McBride and her husband put their home in Washington state on the market in early March, the coronavirus outbreak was just taking hold in the United States. They managed to hold two open houses and a smattering of private viewings before accepting an offer. But with...
Stocks rise ahead of U.S. labor report, oil up on output talksVideo
BANGKOK — Stock markets pushed higher in Europe and Asia on Thursday on hopes that the pandemic was reaching a peak in some economies, while the price of oil rose as major crude-producing countries prepared to discuss output cuts. Benchmarks rose in Frankfurt, London and Hong Kong and ended flat...
Gallon of milk with your coffee? Panera Bread offering grocery items
Panera Bread is turning to groceries as its sit-down dining rooms across the country have closed amid the coronavirus outbreak. The restaurant chain is offering breads, bagels, gallons of milk, yogurt, cream cheese and fresh produce to customers either to go or through delivery services. Panera Bread menu items such...
Fed eases limit on Wells Fargo to make more small biz loans
NEW YORK — The Federal Reserve is lifting its lending restrictions on Wells Fargo after some of the bank’s thousands of small business customers were shut out of a program that’s supposed to throw them a financial lifeline. The Fed’s action will allow Wells to make more loans under the...
Dick’s Sporting Goods furloughing ‘significant number’ of employees
Dick’s Sporting Goods announced Tuesday it will furlough a “significant number” of employees beginning Sunday, April 12, a response to the closure of its more than 800 stores nationwide as the country grapples with the coronavirus pandemic. In an update addressed to investors on its website, Dick’s said it is...
Allstate, citing less driving, sending refunds to policyholders
Has your car been sitting in the driveway for the past three weeks? You might be getting some money because of that. Citing less people on the roadways and fewer accidents because of stay-at-home orders across the country, auto insurers this week announced that they are sending refunds back to...
Corona beer halts production in Mexico amid coronavirus pandemic
Grupo Modelo, which produces and exports several popular Mexican beer brands, including Corona, Pacifico and Modelo, will be temporarily suspending production and sales after its breweries were deemed non-essential by the Mexican government. The company posted the announcement on Twitter, stating it is halting production and pledging its “total commitment”...
No baseball, but my 30-30 Club continues
Among other pleasures quashed by the pandemic, the baseball season will be delayed (let’s hope not canceled). However, as a minor consolation, my 30-30 Club continues. In baseball, the 30-30 Club contains players who have hit 30 home runs and stolen 30 bases in the same season. In the past...
Wall Street leaps 7%, markets stage rally worldwide on coronavirus hopesVideo
NEW YORK — Investors grabbed hold of a few glimmers of hope Monday that the coronavirus pandemic could be slowing and sent stocks surging in a worldwide rally, capped by a 7% leap for the U.S. market. The number of new coronavirus cases is dropping in the European hotspots of...
Pa. ramps up effort to get businesses to help make medical equipment
An online portal created by state officials will help identify businesses that are building much-needed medical supplies and guide others who might be able to pivot their manufacturing toward creating those supplies, Gov. Tom Wolf said Monday. The Manufacturing Call to Action Portal will streamline the process for manufacturers who...
Giant Eagle to limit number of people allowed in stores
Giant Eagle said Monday it will begin limiting the number of customers who can shop at each store at one time. “As supermarkets, convenience stores and pharmacies remain in operation as essential community resources, we believe it’s vital to heighten our social distancing and sanitization procedures throughout the store,” company...
U.S. Postal Service hiring temporary employees
The U.S. Postal Service is hiring temporary workers to fill mail handling and processing positions at various locations in Western Pennsylvania, the agency announced Monday. People are needed to serve as mail handler assistants, mail processing clerk assistants, clerk assistants and city carrier assistants, according to the postal service. The...
Stocks rise sharply on signs of progress in battling virusVideo
NEW YORK — Stocks jumped in markets around the world Monday after some of the hardest-hit areas offered sparks of hope that the worst of the coronavirus outbreak may be on the horizon. U.S. stocks climbed more than 4% in the first few minutes of trading, following up on similar...
Grocery workers are key during the virus. And they’re afraid.
AUSTIN, Texas — Every day, grocery workers are restocking toilet paper, eggs, produce and canned goods as fast as the items fly off the shelves. They disinfect keypads, freezer handles and checkout counters as hundreds of people weave around them, sometimes standing too close for comfort amid the coronavirus pandemic....
Hunt for medical supplies creates marketplace of desperation
ANNAPOLIS, Md. — Shady middlemen, phantom shipments, prices soaring by the hour, goods flown in on a private plane. What sounds like an organized-crime thriller is now the new reality for governors desperately trying to find the medical equipment their states need in the throes of a pandemic. With the...
Walmart limits store access; US airlines sign up for grants
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus. ———————————— COSTS MOUNT: The pandemic will cost the global economy as much as $4.1 trillion,...
Small biz rescue off to spotty start; some banks not readyVideo
NEW YORK — The federal government’s relief program for small businesses is off to a bumpy start Friday, with few businesses able to apply and some big banks saying they’re not ready to process applications. Millions of small businesses are expected to apply for these desperately needed rescue loans from...
Mexican brewer of Corona beer suspends productionVideo
Looks like we won’t have Corona beer to kick around anymore. For a little while, at least. Grupo Modelo announced Thursday that it is suspending production of its Corona beer and other brands, including Modelo and Pacífico, after it was declared among the nonessential businesses in a Mexican government order...
