Economics

Consumer spending tumbled a record 16.4% in April as the backbone of the U.S. economy retrenched amid the coronavirus pandemic, according to a government report Friday. Economists surveyed by Dow Jones expected the advanced retail […]

WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak led more companies to slash jobs even though most states have begun to let some businesses […]

WASHINGTON (AP) — The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence […]

The IRS has paid out more than $207 billion in coronavirus relief payments to individual taxpayers, as part of the $2 trillion package passed by Congress known as the CARES Act. And among the recipients […]

Private payrolls hemorrhaged more than 20 million jobs in April as companies sliced workers amid a coronavirus-induced shutdown that took most of the U.S. economy offline, according to a report Wednesday from ADP. In all, […]

(Bloomberg) — Few have a better watchtower over oil demand than Joe Gorder, chief executive officer of major U.S. refiner Valero Energy Corp. But this week Gorder didn’t even need his business insight to know […]

WASHINGTON (AP) — More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s. Roughly 30.3 […]

NEW YORK/SAN FRANCISCO (Reuters) – Amazon.com Inc (AMZN.O) has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor […]

U.S. equity markets gained Monday as a handful of states took steps to reopen their economies from shutdowns caused by COVID-19 and as lenders resume doling out cash to small businesses. The Dow Jones Industrial […]

(Bloomberg) — Negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil. The next chapter in the oil crisis is now inevitable: great swathes of the […]