Global stocks show renewed weakness but oil keeps rising on talk of supply cut
Global markets showed renewed signs of weakness on Friday as the economic fallout from the coronavirus pandemic continues to weigh on investors. But…
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Even in the coronavirus pandemic, the Japanese won’t work from home until Shinzo Abe makes them
Salary men in suits crammed into trains during the rush-hour commute are staple scenes in Tokyo. Up until a few weeks ago, 52-year-old Hideya…
Continue Reading ‘Demand has disappeared’: Cathay Pacific slashes more flights after flying just 582 people in one day
Cathay Pacific is used to carrying about 100,000 daily passengers. At one point this week, it flew just 582 customers in a day. The is the grim…
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El Paso small business relief fund quickly overwhelmed with grant requests
EL PASO, Texas — An effort by El Paso’s city and county governments to soften the blow on local businesses struggling to survive because of the…
Continue Reading Disney furloughs employees ‘whose jobs aren’t necessary at this time’
Facing a complete standstill across its entertainment empire due to the coronavirus crisis, the Walt Disney Company notified its employees that it…
Continue Reading Tesla overcomes plant shutdowns to again build 100,000 cars in quarter
Tesla built more than 100,000 vehicles in the first quarter, despite shutdowns at its plants in Shanghai and Fremont, California, due to health…
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Las Cruces pecan plant struggles to stay afloat during virus pandemic
LAS CRUCES, New Mexico — After tariffs hit pecan farmers hard almost two years ago, famers in Doña Ana County were starting to feel a little less…
Continue Reading Amazon says it’s taking coronavirus seriously. Workers say the company is endangering their health
Amid mounting criticism of its pandemic response, Amazon on Thursday said it is rapidly expanding temperature checks for its employees and that it…
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President Trump invokes Defense Production Act for much-needed ventilators
WASHINGTON, DC — The White House announced Thursday that President Donald Trump is invoking the Defense Production Act to clear…
Continue Reading Zoom CEO apologizes for having ‘fallen short’ on privacy and security
The founder and CEO of Zoom has apologized to the video conferencing app’s millions of users after coming under fire for a host of privacy…
Continue Reading Oil prices spike by a record 25% as Trump talks up huge production cuts and Saudi Arabia calls for OPEC meeting
Hopes are building for a truce in the brutal oil price war between Saudi Arabia and Russia, setting off a record spike in the oil market Thursday.…
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U.S. jobless claims soar by 6.6 million amid unemployment crisis felt in Texas, New Mexico & the Borderland
WASHINGTON, D.C. — U.S. unemployment claims hit 6.6 million — another record high — as layoffs accelerate in face of coronavirus. The bleak news…
Continue Reading Can’t find what you want in the grocery store? Here’s why
The coronavirus pandemic has delivered a shock to tens of millions of people in rich countries around the world: Suddenly, they can’t buy the…
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CEO of Italian tire maker Pirelli: US business leaders should prepare now for the worst
The CEO of Italian tire maker Pirelli has a message for America’s business leaders: Prepare for the worst and your company may come through…
Continue Reading British Airways furloughs 30,000 workers
British Airways will furlough 30,000 of its employees with pay, as the coronavirus pandemic halts global travel, forcing airlines to ground planes…
Continue Reading America’s labor market is hurting. But this jobs report won’t show the worst of it
The March jobs report, which will be released Friday, marks the beginning of the post-outbreak US labor market. But it won’t be able to tell us…
Continue Reading Millions of Europeans are losing their jobs. The EU wants to raise €100 billion to help
The European Union is preparing fresh action to support workers as layoffs within the bloc skyrocket. The European Commission on Thursday proposed a…
Continue Reading A 3,000% jump in jobless claims has devastated the US job market
The last three weeks have marked one of the most devastating periods in history for the American job market, as first-time claims for unemployment…
Continue Reading China’s Luckin Coffee plunges 75% on accounting probe
Luckin Coffee has become a phenomenon in China — and with Wall Street investors — due to stunning growth. But it turns out some of its…
Continue Reading Boeing offering buyouts as it projects recovery will take years
Boeing is offering employees buyouts as its CEO said it will take years for the airlines and aerospace industry to recover from the coronavirus…
Continue Reading ‘Complete waste of time.’ UK media slam government coronavirus briefings
Prime Minister Boris Johnson’s government can typically find a safe space in the digital and print editions of many of the most popular British…
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Most Colorado Hobby Lobby stores remain open despite stay-at-home order
Click here for updates on this story LAKEWOOD, Colo. (KDVR/KWGN) — A spokesperson for Colorado’s top health…
Continue Reading Global stocks sell-off eases despite dire US unemployment report
A global stocks sell-off spurred by coronavirus fears eased on Thursday even as new data showed that more than 6 million Americans filed for…
Continue Reading US unemployment report is much worse than economists predicted
Mass layoffs tied to the coronavirus pandemic sparked a surge in the number of Americans who filed for their first week of unemployment benefits —…
Continue Reading The coronavirus won’t end moviegoing, but it could change it
Last year was a good year for the film industry. The global box office brought in over $40 billion worldwide, even though the domestic box office was…
Continue Reading WeWork founder misses out on $1 billion as SoftBank cancels share buyout
SoftBank is walking away from a sizeable chunk of its WeWork rescue package, which included a near billion dollar windfall for ousted founder Adam…
Continue Reading A wave of oil bankruptcies is on the way
The first domino in the oil industry has fallen. Whiting Petroleum, once a rising star in the shale industry, filed for Chapter 11 protection…
Continue Reading How quickly can the US economy bounce back? That depends on the virus
A month ago, the big question about the economy was: Will we have a recession? How quaint that seems now. That was before airlines canceled thousands…
Continue Reading The world could soon run out of space to store oil. That may plunge prices below zero
The world’s thirst for oil has evaporated. Highways are empty. Planes are grounded. Factories are dark. The unprecedented collapse in oil…
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