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Business and Economic News

From jobs to homeownership, protests put spotlight on economic divide

From jobs to homeownership, protests put spotlight on economic divide

Police brutality has sparked days of civil unrest. But the sparks have landed in a tinderbox built over decades of economic inequality, now exacerbated by the coronavirus pandemic.
by Scott Horsley

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Who dares to rent a dress now? Coronavirus upends the sharing economy

Who dares to rent a dress now? Coronavirus upends the sharing economy

How do you share your car, home or clothing with other people during a pandemic? Companies from Airbnb to Rent The Runway face big challenges convincing customers their services are safe.
by Shannon Bond

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Restaurants reopen with restrictions as some hunger for more

Restaurants reopen with restrictions as some hunger for more

Outdoor dining can resume Monday amid clamoring by restaurants to scale back remaining restrictions more quickly. Hair care businesses can also serve clients on a limited basis.
by Brian Bakst

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Target temporarily closing stores due to protest dangers

Target temporarily closing stores due to protest dangers

Target is temporarily closing 105 stores in 10 states after several were broken into during protests over the death of George Floyd in Minneapolis last week.
by The Associated Press

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Trump takes aim at WHO as U.S. economic outlooks worsens

Trump takes aim at WHO as U.S. economic outlooks worsens

With new U.S. economic numbers highlighting the rough road ahead for a hoped-for rebound, President Trump on Friday took aim at the World Health Organization and China, blaming both for their roles in the pandemic's devastation.
by The Associated Press

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U.S. consumer spending sinks by record 13.6% in face of virus

U.S. consumer spending sinks by record 13.6% in face of virus

U.S. consumer spending plunged by a record-shattering 13.6 percent in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.
by The Associated Press

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Looted and smoldering, ‘Lake Street, the great street’ braces for more

Looted and smoldering, ‘Lake Street, the great street’ braces for more

As anger over the death of George Floyd led to violence and looting, a commercial corridor known for its mix of mom-and-pop businesses starts to pick up the pieces. 
by Jon Collins

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40.8 million out of work in the past 10 weeks, 26% of labor force

40.8 million out of work in the past 10 weeks, 26% of labor force

More than 1 in 4 U.S. workers have lost their jobs since coronavirus shutdowns began. Last week, an additional 2.1 million people filed for unemployment benefits.
by Avie Schneider

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