Wire stories category, Page 93

Small businesses slash more than 11 million jobs in April

NEW YORK — The nation’s small businesses slashed more than 11 million jobs in April as they were forced to close or suffered steep revenue losses amid the coronavirus outbreak. The tally from ADP counts jobs lost at the payroll provider’s business customers with under 500 workers. The smallest companies,...
Stocks end higher on Wall Street even after late-day stumble

Stocks closed broadly higher on Wall Street on Tuesday as more countries relaxed restrictions on businesses, raising hopes for a recovery from the historic plunge that is sweeping the global economy. The S&P 500 rose 0.9% after losing about half of its early gains in a late-afternoon burst of selling....
Disney’s second-quarter profit sinks on pandemic woes

NEW YORK — Disney reported a steep decline in profit as many segments of its media and entertainment offerings have ground to a standstill during the coronavirus pandemic. Its second quarter profit dropped 91% to $475 million. Overall, the company said costs related to covid-19 cut Disney’s pretax profit by...
Treasury says April-June borrowing will be a record $2.99T

WASHINGTON — The economic paralysis triggered by the coronavirus pandemic is forcing the U.S. Treasury to borrow far more than it ever has before — $2.99 trillion in the current quarter alone. The amount is more than five times the government’s previous record borrowing for a quarter, $569 billion, set...
Back to work, owners make changes so workers feel safe

NEW YORK — Before the coronavirus outbreak, furniture deliveries at Sunnyland Outdoor Living meant two employees sitting side-by-side in a truck. Now, one will be driving the truck while the second follows in a car. And when Sunnyland’s workers reach a customer’s home, “we’ll deliver outside — we won’t go...
Major U.S. airlines to require passengers to wear face masksVideo

DALLAS — American Airlines, Delta Air Lines and United Airlines said Thursday they will soon require passengers to cover their faces during flights, following the lead of JetBlue Airways. The move comes as airlines big and small contemplate how to comply with social-distancing recommendations in the midst of the coronavirus...
Workers must risk infection or losing unemployment payments

ATLANTA — Some of the millions of American workers laid off because of the coronavirus are beginning to face a tough choice — return to work and risk infection, or stay home and risk losing unemployment payments. The decision is most pressing in states where governors have started allowing businesses...
Wall Street pulls back as dismal economic data piles higher

Stocks are falling on Wall Street Thursday after more reports made clear the worldwide devastation the coronavirus outbreak is causing for the economy. The dour figures helped drive most U.S. stocks to losses, and the S&P 500 was down 1.4% in afternoon trading. Treasury yields also sank, while European stocks...
Fed signals it will likely hold interest rates near zero for months

WASHINGTON — The Federal Reserve is signaling that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s The Fed says it will also continue to...
Treasury plans to reclaim stimulus payments sent to deceased

WASHINGTON — The Treasury Department is planning to instruct people whose deceased relatives received coronavirus stimulus payments to return the money to the federal government, according to a department spokesman. The Treasury is aware that some individuals who have recently died received the $1,200 economic impact payments and plans to...
Analyst: Ford needs to consider merger after $2B lossVideo

Ford Motor Co. and its competitors have warned for weeks that their finances are teetering on the brink of uncertainty as a global pandemic continues to brutalize America and bring manufacturing to a standstill. While the current landscape is grim, coming months promise to be unrelenting. The cold reality for...
Pandemic exposes gaps in travel insurance coverage

NORFOLK, Va. — For many people, travel insurance has been little more than a box that pops up on a booking site to offer some cheap peace of mind. But the coverage’s limitations have been brought into stark relief during the coronavirus pandemic, leaving would-be travelers frustrated over denied claims...
Coronavirus is expected to reduce meat selection and raise pricesVideo

DES MOINES, Iowa — Meat isn’t going to disappear from supermarkets because of outbreaks of the coronavirus among workers at U.S. slaughterhouses. But as the meat plants struggle to remain open, consumers could face less selection and slightly higher prices. Industry leaders acknowledge that the U.S. food chain has rarely...
CBO says deficit to reach $3.7 trillion in economic decline

WASHINGTON — A recession caused by the coronavirus pandemic and a burst of government spending on testing, health care and aid to businesses and households will nearly quadruple the government’s budget deficit to $3.7 trillion, the Congressional Budget Office said Friday. The 2020 budget deficit will explode after four coronavirus...
Wall Street ends a bumpy week with a gain, led by technology

NEW YORK — Stocks are closing out a tumultuous week with broad gains, led by familar names in technology, including Apple. The S&P 500 rose 1.4% Friday, but still ended the week lower, breaking a two-week winning streak. Stocks meandered between gains and losses for much of the morning then...
Despite risks, auto workers step up to make medical gear

DETROIT — Cindy Parkhurst could have stayed home collecting most of her pay while the Ford plant where she normally works remains closed due to coronavirus fears. Instead, she along with hundreds of workers at Ford, General Motors, Toyota and other companies has gone back to work to make face...

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