All Economy
First LookRidesharing has plummeted. Can food delivery save Uber?Uber is cutting 14% of its workforce and offloading its bike and scooter business after losing $2.9 billion in the first quarter. But the company's meal delivery arm, Uber Eats, is seeing a surge in demand.聽
First LookDeceased taxpayers were sent relief checks. Should they be returned?The Trump administration and IRS are urging families to return coronavirus relief payments sent to the deceased, but legal experts say there is no law requiring them to do so.聽
First LookStocks rise despite 33 million US jobless claims from pandemicSince the outbreak of the new coronavirus pandemic, 33 million people in the United States have filed for unemployment, up 3 million from last week. Still, the U.S. stock market is bouncing back.
Focus鈥榃e鈥檙e open for them鈥�: The small shops in New York trying to stay afloatThe struggles of聽New York鈥檚 small-business community, which employs nearly half the city鈥檚 private workforce, point to broader economic challenges.
Rural America lags on fast internet. Now small co-ops are building it.The FCC says the digital divide is improving. But rural co-ops aren't waiting for the government: Their new task is high-speed internet service.
Inside a hotspot: Voices from the floor of a meat-packing plantMeat-packing plants have been hit hard by COVID-19. We take a look at the conditions workers face, and the challenges for the industry.
Will cruise industry recover? Some passengers yearn to reboard.Cruise lines face a perfect storm of problems. But there are loyal passengers pondering when to sail again, even as they look for assurance on safety.
No one wants to dump milk. Here鈥檚 why it鈥檚 happening anyway.Coronavirus lockdowns have caused a plunge in dairy demand. Getting excess milk to food banks is one solution, but could require federal help.聽聽
First LookUS jobless claims reach 30 million, 1 in 6 unemployedOn Thursday, the U.S. Labor Department released the latest unemployment statistics, indicating that another 3.8 million unemployment claims were filed last week. Economists forecast unemployment rates could reach 20%, the highest since the Great Depression.
First LookUS economy shrinks 4.8%: Can it recover post-virus?The drop in the January-March quarter is only a precursor of a far grimmer GDP report to come on the April-June period, with business shutdowns and tens of millions of layoffs. Some economists still hold hope a recovery will arrive quickly once the pandemic is over.聽
First LookAs virus lockdowns lift, investors search for signs of reboundsAs governments start to lift restrictions, stocks are rising worldwide.聽In the U.S., the spotlight will be on the big companies that have helped the S&P 500 halve its losses since February.聽Amazon, Apple, Facebook, Microsoft, and Alphabet are all scheduled to report earnings this week.聽
Where does an oil crisis hit first? Not where you might expect.Oil prices actually turned negative briefly in the U.S. this week, a historic first. Benchmark Brent crude oil traded around $21.92 per barrel Friday.
Jobless benefits are a lifeline 鈥� if the unemployed can get accessA spike in unemployment tests state agencies鈥� ability to deliver promised relief. Some 4.4 million workers filed new jobless claims in the past week.
First LookThe price of uncertainty: Oil futures prices drop below $0Demand for oil is聽at its lowest since the mid-1990s, as fewer people drive or fly, resulting in an oversupply.聽"At a minimum, oil prices will be the last asset class to recover from lockdown," said one commentator.聽
No, we鈥檙e not running out of food. It just looks that way.Headlines about dumped crops don鈥檛 mean that food suppliers are running short or that store shelves will be empty, say supply chain experts.聽
First LookJobless claims reach 22 million in US due to mass layoffsAs Americans continue to suffer job losses, pressure is mounting to reopen the economy with another 5.2 million workers filing for unemployment last week. The hardest hit sectors are retail, food, and entertainment.
When is it safe to reopen the economy? Three questionsPoliticians are weighing the advice of experts about how and when to ease the restrictions put in place to slow the coronavirus pandemic.聽
First LookOil nations agree to unprecedented global production cutOil prices collapsed during a price war.聽OPEC, Russia, and other oil-producing nations agreed on Sunday to cut production of nearly 10 million barrels.
Coronavirus crunch: One city block reveals small businesses at riskSmall firms face an unprecedented broad plunge in revenue amid efforts to contain the coronavirus. An up-close view from one street in Massachusetts.聽
How ad hoc supply workarounds became US pandemic responseU.S. manufacturers are adapting to produce medical equipment to help fight COVID-19 amid a fitful federal response.聽