US Unemployment Drops Unexpectedly To 13.3%
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — U.S. unemployment dropped unexpectedly in May to 13.3% as reopened businesses began recalling millions of workers...
Stocks Open Higher As Investors Hope For Economic Recovery
By ALEX VEIGA AP Business Writer
U.S. stock indexes are moving higher in early trading Tuesday, following broad gains in global markets as investors hope...
Pandemic Knocks Out Large Sections of Hawaii’s Economy
By AUDREY McAVOY Associated Press
HONOLULU (AP) — In normal times, Roland Chang and his three sons start their day at dawn, picking up tourists...
Trump To Tour Ford’s Ventilator Assembly Plant Near Detroit
By DARLENE SUPERVILLE Associated Press
WASHINGTON (AP) — A day after threatening to withhold funds over Michigan's mail-in ballot effort, President Donald Trump was set...
Coronavirus-triggered Layoffs In US Hit Nearly 39 Million
By CHRISTOPHER RUGABER and DANICA KIRKA Associated Press
WASHINGTON (AP) — The number of Americans thrown out of work since the coronavirus crisis struck two...
Reopening: It’s Back To Business, But Not Business As Usual
By DAVID CRARY, DAVE COLLINS and NICOLE WINFIELD Associated Press
NEW YORK (AP) — This is what “normal” will look like for the foreseeable future.
In...
US Home Construction Drops 30.2% In April As Virus Rages
By PAUL WISEMAN AP Economics Writer
WASHINGTON (AP) — U.S. home building plunged in April to the lowest level in five years, taken down by...
US Adds Strong New Sanction On Chinese Tech Giant Huawei
By FRANK BAJAK Associated Press
BOSTON (AP) — The U.S. government has imposed new restrictions on Chinese tech giant Huawei's ability to use American technology,...
US Retail Sales Plunged a Record 16% in April as Virus Hit
By JOSH BOAK AP Economics Writer
BALTIMORE (AP) — U.S. retail sales tumbled by a record 16.4% from March to April as business shutdowns caused...
Industrial Production Plunges Unprecedented 11.2% in April
By PAUL WISEMAN AP Economics Writer
WASHINGTON (AP) — American industry suffered the most severe plunge on record last month with factories, mines and utilities...
36 Million Have Sought US Unemployment Aid Since Virus Hit
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak...
California Governor Looks To Plug $54 Billion Budget Hole
By ADAM BEAM Associated Press
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom is expected to reveal his plan Thursday for plugging an estimated $54.3...
Tesla’s Elon Musk Defies Covid-19 Lockdown Order, Restarts California Factory
By TOM KRISHER and BEN MARGOT AP Auto Writer
FREMONT, Calif. (AP) — Tesla CEO Elon Musk is restarting the company's California factory in defiance...
Hard-hit Restaurants Await Word on California Reopening as Covid-19 Slows
SACRAMENTO, Calif. (AP) — California restaurants waiting for permission to reopen to diners have been preparing for the “new normal” in the age of...
Tesla Parking Lot Nearly Full, Indicating Factory Is Running
FREMONT, Calif. (AP) — The parking lot was nearly full at Tesla’s California electric car factory Monday, an indication that the company could be...
‘An Arm And A Leg’: Health Care Takes A Financial Hit In The Midst...
Dan Weissmann
Can’t see the audio player? Click here to listen.
You’ve probably noticed that the U.S. economy is crashing. What you might not expect is that...
Harvesters Struggle to Recruit Foreign Crews During Pandemic
By ROXANA HEGEMAN Associated Press
BELLE PLAINE, Kan. (AP) — Kansas harvester Mike Keimig is growing increasingly anxious about whether the foreign seasonal workers he...
US Virus Patients and Businesses Sue China Over Outbreak
ST. PETERSBURG, Fla. (AP) — Before the coronavirus outbreak, Saundra Andringa-Meuer was a healthy 61-year-old mother of six who never smoked or drank alcohol....
Chaos And Scrambling In The US Oil Patch As Prices Plummet
By CATHY BUSSEWITZ AP Business Writer
NEW YORK (AP) — In Montana, a father and son running a small oil business are cutting their salaries...
Stocks Rise Sharply On Hopes Of Progress In Battling Virus
By STAN CHOE AP Business Writer
U.S. stocks were up roughly 5% in midday trading, following up on gains that were nearly as big in...
Insurance marketplaces offer help with coronavirus job cuts
By TOM MURPHY AP Health Writer
More than a million people could swamp the Affordable Care Act’s health insurance marketplaces in the coming months...
Stocks Drop As Coronavirus Crunches The Job Market, Economy
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers
NEW YORK (AP) — The stock market’s first reaction to Friday’s stunningly...
White House Convenes Oil CEOs As Bust Threatens US Boom
By ELLEN KNICKMEYER and CATHY BUSSEWITZ Associated Press
WASHINGTON (AP) — Petroleum CEOs, including U.S. oil-patch loyalists to President Donald Trump, sought White House...
US Long-Term Mortgages Fall; 30-Year At 3.33%
WASHINGTON (AP) — U.S. long-term mortgage rates fell this week for the second straight week as anxiety has spiraled over devastation to the economy...
Virus Cost May Top $4 trillion; Americans Arm Up On Guns
The Associated Press
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday...
With Parks Closed, Disney Starts Furloughs In 2 Weeks
By MIKE SCHNEIDER Associated Press
ORLANDO, Fla. (AP) — Saying they don't know when they'll be able to re-open many of their businesses with...
US Sheds Most Jobs In A Decade, Ending Record Hiring Streak Due To Coronavirus
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — A record-long streak of U.S. job growth ended suddenly in March after nearly a decade,...
Gun Background Checks Smash Records Amid Coronavirus Fears
By LISA MARIE PANE Associated Press
Background checks required to buy firearms have spiked to record numbers in the past month, fueled by a...
SXSW Partners With Amazon To Put Its Film Festival Online
By JAKE COYLE AP Film Writer
NEW YORK (AP) — The popcorn will be bring your own and the barbecue won't be as good,...
Feds Seek Breakup Of Altria-Juul Deal On Antitrust Grounds
By MATTHEW PERRONE AP Health Writer
WASHINGTON (AP) — U.S. business regulators are suing to break up the multibillion-dollar deal between tobacco giant Altria...
Macy’s To Be Removed From S&P 500; Credit Rating Downgraded
Its market value just a fraction of what it was five years ago, Macy's is being removed from the S&P 500 index.
Macy's has been...
Surveys: Manufacturing Contracts Last Month In US, World
WASHINGTON (AP) — Manufacturing contracted in the United States and around the world last month, dragged down by economic fallout from the coronavirus outbreak.
The...
Car Sales Crash, And So Does Crude, As Virus Seizes Markets
By The Associated Press
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on...
Regulators Mull Reversing $462M Increase In PG&E Fire Fines
By MICHAEL LIEDTKE AP Business Writer
BERKELEY, Calif. (AP) — California power regulators are weighing a recommendation to back off plans to fine Pacific...
Sprint And T-Mobile Merge, Creating New Wireless Giant
By TALI ARBEL AP Technology Writer
NEW YORK (AP) — Mobile carrier T-Mobile has completed the takeover of smaller rival Sprint, creating a new...
Stocks Skid Worldwide As Coronavirus Infections Keep Soaring
NEW YORK (AP) — U.S. stocks joined a worldwide downdraft Wednesday as more signs piled up of the economic and physical pain being caused...
A Guide To Surviving Financially As The Bills Come Due
The coronavirus has dealt a financial blow to millions of Americans and now April's bills are coming due.
The good news is there is help...
US Home Prices Rose At 3.1% Annually In January
By JOSH BOAK AP Economics Writer
BALTIMORE (AP) — U.S. home price growth was showing signs of acceleration in January, a sign of the...
New Online Store Offers Help To Shuttered Indie Booksellers
By HILLEL ITALIE AP National Writer
Andy Hunter, founder of a new online sales outlet for independent booksellers, had seen a crisis building well...
Virus Slump Expected To Rival Big Recessions In History
By PAN PYLAS Associated Press
LONDON (AP) — The coronavirus-related recessions around the world are going to be bad — and for some of...
Some Instacart, Amazon Workers Strike As Jobs Get Riskier
By ALEXANDRA OLSON and MAE ANDERSON Associated Press Writers
NEW YORK (AP) — Some Instacart and Amazon warehouse workers walked off the job Monday...
Fed Steps In Once Again To Try To Smooth Out Lending Markets
WASHINGTON (AP) — The Federal Reserve is intervening once again to try to smooth out the world's lending markets, this time by lending dollars...
Gas Is Cheap, But For Many Motorists There’s Nowhere To Go
DALLAS (AP) — U.S. gasoline prices have dropped to their lowest levels in four years, and they are almost sure to go lower as...
Urgent Question From Small Businesses: When Will Aid Arrive?
By JOYCE M. ROSENBERG AP Business Writer
NEW YORK (AP) — When will the money arrive?
That's the urgent question for small business owners who...
US Agency Includes Gun Sellers As “Critical” Infrastructure
WASHINGTON (AP) — A gun rights group is cheering the Trump administration's designation of the firearms industry, including retailers, as part of the nation's...
Rent Strike Idea Gaining Steam During Coronavirus Crisis
By JIM SALTER Associated Press
ST. LOUIS (AP) — With millions of people suddenly out of work and rent due at the first of...
US Pending Home Sales Trended Higher Before Virus Outbreak
BALTIMORE (AP) — Americans signed more contracts in February to buy homes, but the gains are likely relics of a moment before the coronavirus...
Wall Street Pushes Higher, Led By Health Care Stocks
By STAN CHOE AP Business Writer
NEW YORK (AP) — U.S. stocks are pushing a bit higher in Monday morning trading, but markets were...
Stocks Surge Again After Relief Bill Passed; Indexes Up 6%
NEW YORK (AP) — Stocks marched higher for a third straight day Friday as a massive coronavirus relief bill moved closer to passing Congress...
Ford, Fiat Chrysler, Honda, Toyota Seek To Restart Factories
By TOM KRISHER AP Auto Writer
DETROIT (AP) — Ford, Fiat Chrysler, Honda and Toyota took steps Thursday to restart North American factories that...
US Economy Grew At 2.1% Rate In Fourth Quarter Of 2019
WASHINGTON (AP) — The economy grew by a moderate 2.1% in the fourth quarter of last year, but many economists believe that will be...
3.3 million Seek US Jobless Aid, Nearly 5 Times Earlier High
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the...
Stocks Rise On Wall Street, Heading For Three-Day Rally
By STAN CHOE AP Business Writer
NEW YORK (AP) — Stocks rose on Wall Street Thursday, putting the market on track for its first...
Stocks Have First Back-To-Back Gains Since Sell-Off Began
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers
NEW YORK (AP) — Stocks scored their first back-to-back gains Wednesday since...
First Signs Of Disruption Appear In Housing; Markets “Calm”
By The Associated Press
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed as it continues to...
Coronavirus Closures Pushing New US Jobless Claims Sky High
NEW ORLEANS (AP) — Barely a week ago, David McGraw was cooking daily for hundreds of fine diners at one of New Orleans’ illustrious...
US Big-Ticket Factory Orders Up 1.2% In February
WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods rose by a solid amount in February, but the gain came before the...
Stocks Wobble As Wall Street Downshifts From Historic Rally
By STAN CHOE and DAMIAN J. TROISE AP Business Writers
NEW YORK (AP) — Stocks are wobbling in tentative morning trading on Wall Street...
Business Fallout: US Manufacturing Pivot; Drinking At Home
The rapid spread of the coronavirus since it was first reported in China has dealt an unprecedented shock to the global economy. Here's a...
Dow Surges 2,100 Points As Congress Nears Deal On Virus Aid, Best Day Since...
By STAN CHOE and DAMIAN J. TROISE AP Business Writers
NEW YORK (AP) — Stocks surged on Wall Street Tuesday, sending the Dow...
New Home Sales Drop 4.4% In February
By MARTIN CRUTSINGER AP Economics Writer
WASHINGTON (AP) — U.S. new home sales fell 4.4% in February with bigger declines expected in coming months...
Stocks Surge 7% On Building Hopes For US Virus Stimulus
By STAN CHOE and DAMIAN J. TROISE AP Business Writers
NEW YORK (AP) — Stocks on Wall Street joined a worldwide rally Tuesday as...
Monday: Big Layoffs, Bigger Hirings, Massive Markets Swings
The Associated Press
The rapid spread of the coronavirus since it was first reported in China has dealt an unprecedented shock to the global...
PG&E Pleading Guilty To Involuntary Manslaughter In Wildfire
SAN FRANCISCO (AP) — Pacific Gas & Electric said Monday it will plead guilty to 84 counts of involuntary manslaughter in connection with the...
The Drive-In, Relic Of Yesterday, Finds Itself Suited To Now
By JAKE COYLE AP Film Writer
NEW YORK (AP) — The drive-in theater, long a dwindling nostalgia act in a multiplex world, is experiencing...
Business Fallout: More Flights Halted, Walmart Hiring 150K
Less than three months ago came the first reports of cases of pneumonia related to a virus first detected in Wuhan, China. The outbreak...
A Pot Shop At Your Door: Home Delivery Surges Amid Outbreak
By MICHAEL R. BLOOD and HAVEN DALEY Associated Press
SAN FRANCISCO (AP) — One company rushed to expand its delivery fleet. Another has seen...
Fed To Help Banks Purchase Muni Bonds To Keep Credit Flowing
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — The Federal Reserve said it would seek to hold down spiking interest rates in the...
US Stocks Rise For 2nd Straight Day At End Of A Brutal Week
By ALEX VEIGA AP Business Writer
U.S. stocks recovered from an early stumble and were headed higher in morning trading Friday, extending solid gains...
Cautious Optimism On Wall Street, Markets Rise With Aid Hope
By STAN CHOE and DAMIAN J. TROISE and ALEX VEIGA AP Business Writers
NEW YORK (AP) — Stocks capped a wobbly day on Wall...
Wall Street Gains Momentum After Another Rocky Start
NEW YORK (AP) — Stocks are gaining momentum in afternoon trading on Wall Street Thursday in a market marked by less volatility than recent...
Coronavirus Layoffs Spark Surge In State Jobless Claims
JEFFERSON CITY, Mo. (AP) — In Ohio, more than 48,000 people applied for jobless benefits during the first two days of this week. The...
US Mortgage Rates Climb This Week; 30-Year Loan At 3.65%
WASHINGTON (AP) — U.S. long-term mortgage rates climbed this week in a whip-sawing market amid deepening anxiety over devastation to the economy from the...
Wall Street swings up and down as volatility retains grip
By STAN CHOE and DAMIAN J. TROISE AP Business Writers
NEW YORK (AP) — Stocks are swinging between gains and losses in early trading...
Fighting Fear With Beer: Virus Spurs Curbside Beer Sales
By ALLEN G. BREED AP National Writer
WAKE FOREST, N.C. (AP) — Sometimes you wanna go where everybody knows your name. But with the...
Apple Brings PC-Like Trackpad To IPad Tablets
NEW YORK (AP) — Apple’s new iPad brings PC-like trackpad capabilities for the first time, as the company seeks to make its tablet even...
Tesla Factory Could Be Shut Under California Health Order
FREMONT, Calif. (AP) — The Tesla factory that employs thousands of people could be forced to close after Alameda County on Tuesday night declared...
Stocks, Oil Sink Again As recession Fears Batter Markets
By STAN CHOE AP Business Writer
NEW YORK (AP) — The vicious swings keep coming for the stock market, and the S&P 500 sank...
Stocks Jump After Trump Promises To ‘Go Big’ On Virus Aid
By STAN CHOE AP Business Writer
NEW YORK (AP) — Stocks are closing solidly higher after President Donald Trump promised he's “going big” with...
More Wipes, No Jeans: Amazon Limits Warehouse Shipments
NEW YORK (AP) — Amazon, in an attempt to fill its warehouses with toilet paper, hand sanitizer and other items in high demand, said...
US Job Openings Jumped In January, Before Virus Outbreak
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — U.S. employers sharply increased the number of jobs they advertised in January, a sign the...
Fed Will Buy Short-Term Loans To Try To Ease Flow Of Credit
WASHINGTON (AP) — The Federal Reserve says it will buy short-term loans from banks and companies to support the flow of credit as...
Stocks Bounce Up And Down After Their Worst Drop Since 1987
NEW YORK (AP) — Stock indexes bounced around in early trading Tuesday as investors try to regroup from a punishing day of losses.
Markets remain...
Court Approves PG&E’s $23B Bankruptcy Financing Package
By MICHAEL LIEDTKE AP Business Writer
BERKELEY, Calif. (AP) — Pacific Gas & Electric on Monday won court approval to raise $23 billion to...
Dow Dives 2,999 Points On Fears Virus Will Cause Recession
NEW YORK (AP) — The Dow industrials took a 2,999-point nosedive on Monday as fears deepen that the coronavirus outbreak will throw global economy...
To Bet Or Not To Bet? Casinos, Gamblers Weigh Coronavirus Concerns
By WAYNE PARRY Associated Press
ATLANTIC CITY, N.J. (AP) — Gamblers and vacationers who had planned to visit U.S. casinos expressed a mixture of...
France Fines Apple $1.2 billion For Anti-Competitive Acts
PARIS (AP) — French regulators fined Apple 1.1 billion euros ($1.2 billion) on Monday for striking deals to keep prices high, in the biggest-ever...
AMC Theaters To Limit Attendance To 50 People Per Showing
By JAKE COYLE AP Film Writer
NEW YORK (AP) — AMC Theaters, the largest movie chain in North America, will limit attendance at...
Cheap Fares Luring Travelers To Fly Despite Pandemic
By RUSS BYNUM Associated Press
With the coronavirus pandemic escalating in the U.S. and overseas, Dylcia McBlackwell couldn't justify taking a single spring vacation....
Stocks Lose 8% On Wall Street As More Businesses Shut Doors
By STAN CHOE AP Business Writer
NEW YORK (AP) — Stocks lost 8% in morning trading on Wall Street Monday as huge swaths of...
Stocks Surge On New Virus Measures; Dow Up 1,985 Points
NEW YORK (AP) — Stocks surged, recouping much of a historic plunge, after President Donald Trump announced new measures to fight the coronavirus. The...
Movie Theaters, For Now, Stay Open Nationwide
NEW YORK (AP) — Movie theaters have long acted as a refuge in times of war and recession. Their screens have flickered virtually unabated...
Stocks Claw Back Ground On Wall Street; Dow Jumps 900 Points
By ALEX VEIGA AP Business Writer
Stocks are clawing back some of their recent losses Friday at the end of a brutal week of...
Coronavirus Forces Small Businesses To Rethink Strategies
By JOYCE M. ROSENBERG AP Business Writer
NEW YORK (AP) — Renee and Michael Brown planned to open a third location for their coffee...
NY Fed To Buy A Range Of Treasurys To Try To Ease Jitters
By CHRISTOPHER RUGABER AP Economics Writer
WASHINGTON (AP) — The Federal Reserve is stepping up its purchases of Treasurys to try to ease jitters...
Dow sinks 8% as a sell-off slamming global markets deepens
NEW YORK (AP) — The sell-off bludgeoning financial markets around the world got even worse Thursday as the economic pain caused by the coronavirus...
California AG Drops Challenge To T-Mobile-Sprint Merger
NEW YORK (AP) — California’s attorney general said Wednesday that the state will not appeal a judge’s decision approving T-Mobile's $26.5 billion purchase of...
Stocks Fall Again On Wall Street As Wild Swings Continue; Drawdown Short Lived, Says...
NEW YORK (AP) — Stocks are sinking again Wednesday, wiping out half of a huge rally from a day earlier as Wall Street continues...
Stocks Recoup Most Big Losses As Investors Await Virus Aid
By STAN CHOE and ALEX VEIGA AP Business Writers
NEW YORK (AP) — Stocks on Tuesday recouped most of their historic losses from the...
New Wells Fargo CEO: Issues Will Not Resolve Until 2021
By KEN SWEET AP Business Writer
NEW YORK (AP) — The third chief executive of Wells Fargo in four years appeared in front of...