All Economy
GameStop drama a win for the little guys? Yes and no.GameStop appeared to be a David and Goliath story. Underneath is a more complicated tale of Wall Street, morality, and who鈥檚 able to profit.
First LookIn the thick of COVID-19, small businesses hesitate to staff upOwners of small businesses are slow to hire because they鈥檙e unsure if they鈥檒l pull in enough revenue to keep employees. The Small Business Administration recently approved more than 891,000 loans, totaling nearly $73 billion.聽
First LookHow Bezos will continue to guide Amazon after stepping downAmazon founder Jeff Bezos has announced he is resigning as CEO and will transition into the role of聽鈥漞xecutive chairman.鈥� Long-time Amazon executive Andy Jassy will take over the reins but Mr. Bezos is still expected to have a hand in key operational decisions.
First LookWhat's going on with GameStop's stock?Professional investors and hedge funds bet that GameStop鈥檚 stock would keep falling. When it started to go up, small investors rallied behind it, resulting in billions in losses for the financial elite.聽
First LookWhy some top brands won't run Super Bowl ads this yearSeveral large corporations 鈥� including Pepsi, Coke, Audi, Budweiser 鈥� have decided it鈥檚 not worth running Super Bowl ads this year. For many, it鈥檚 an economic decision. In one case, it鈥檚 an opportunity to contribute to vaccine awareness campaigns.聽
CEOs spurn Trump and his allies: How big a blow?Corporations are spurning politicians who challenged 2020 election results. The moves impose a financial penalty 鈥� not least on Donald Trump.
First LookUS unemployment applications spike to highest since AugustLayoffs are coinciding with an economy that has faltered as consumers avoid traveling, shopping, and dining out as confirmed COVID-19 cases rise. And the consumer slowdown only adds to layoffs caused by business restrictions and shutdowns.
First LookHow young people are responding to the COVID-19 economyThe pandemic has frustrated a generation young people looking to launch their careers. Against all odds, many have found innovative ways to join the labor market, especially through freelancing and entrepreneurship.聽
In US-Mexico border towns, pandemic hits businesses especially hardPandemic restrictions have upended the connections that have long tethered聽businesses and consumers on both sides of the U.S.-Mexico border.
From home offices to space exploration, some 2020 trends were positiveOut with the bad. In with the new. That鈥檚 the way many felt as 2020 ended. Yet there were positive trends we might actually want to聽carry forward.
First LookWhy US stock markets closed out 2020 at record highsThe S&P 500 and Dow Jones indexes hit record highs Friday in a volatile year that rebounded after big losses in March.聽
First LookBoeing gets a boost as its 737 Max returns to US skiesAmerican Airlines is the first of several carriers to put the previously grounded plane, now cleared by safety regulators, back in service.聽
鈥楢m I going to be evicted?鈥� Answer now may hinge on Congress.Jucosta Wilson and her husband face a court date just before Christmas over possible eviction. Millions of other renters are also at risk.
First LookSeasonal holiday jobs shift from storefronts to warehousesWith online shopping taking off, seasonal holiday jobs in North America and Europe 鈥� typically in-store sales roles 鈥� have shifted to other retail positions such as delivery drivers, warehouse workers, and order pickers.
Cover StoryWhy traditional retailers have the checkout bluesPandemic shopping has remade the retail landscape, and more disruption may lie ahead.
The human touch: Choosing handcraft over machinesHandcrafted furniture and pottery from ShackletonThomas is world-renowned. The human touch gives peace to the artists and beauty to their creations.聽
First LookSmall-scale landlords, renters both struggling during pandemicThe extended unemployment benefits that have kept 12 million people afloat are scheduled to expire Dec. 26. On New Year鈥檚 Day, a national ban on renter evictions is set to lapse.聽Both landlords and renters are facing a looming housing abyss.聽
For 鈥婤iden the top economic priority is clear. It just isn鈥檛 easy.Like Barack Obama, Joe Biden will arrive at the White House amid an economic crisis. Unlike in 2009, Congress鈥� power balance will be razor thin.
First LookJanet Yellen, an economic-crisis veteran, to lead US TreasuryJanet Yellen, the former Federal Reserve chair, is slated to lead the Treasury Department under president-elect Joe Biden, becoming the first woman to hold that role. She鈥檒l face high unemployment and an economy battered by COVID-19.
Ski resorts expect a busy season. Can they find enough workers?A pandemic-related visa ban has cut off the typical flow of young workers from abroad at U.S. ski facilities. So this year, the hiring push is local.