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Business and Economic News

Coronavirus spreads recession fears around the world

Coronavirus spreads recession fears around the world

U.S. businesses are shutting down plants and watching their sales plummet around the world. Many economists now say odds are increasing that the economy will slow, if not contract altogether.
by Jim Zarroli

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Virus fears grip markets again; stocks and bond yields slide

Virus fears grip markets again; stocks and bond yields slide

Stocks and bond yields fell sharply Thursday as fears about fallout from the virus outbreak sent more shudders through markets. The Dow Jones Industrial Average sank 968 points, or 3.6 percent wiping out most of its surge of 1,173 points a day earlier.
by The Associated Press

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Pence praises 3M for mask-production efforts as MN braces for COVID-19

Pence praises 3M for mask-production efforts as MN braces for COVID-19

The vice president, heading up the federal response to the spread of COVID-19, visited the HQ of the Minnesota-based manufacturer as state health officials prepare for the coronavirus to hit here.
by Peter Cox

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VP Pence aims to 'lean into' fight against coronavirus

VP Pence aims to 'lean into' fight against coronavirus

Vice President Mike Pence pledged Thursday that federal officials would “lean into” the fight against the new coronavirus as he visited with a leading maker of masks being used to stem the spread of the virus. He asked Americans to refrain from buying masks unless they're sick.
by The Associated Press

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Minneapolis deal will close Kmart, open road and development

Minneapolis deal will close Kmart, open road and development

Under the deal, the city would pay Kmart’s corporate owner $9.1 million to end the store’s lease on or before June 30, paving the way for the development of a key commercial tract and the long-sought reopening of Nicollet Avenue.
by Matt Sepic

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Face masks: Not enough are made in America to deal with coronavirus

Face masks: Not enough are made in America to deal with coronavirus

A global shortage of face masks is prompting concern for the safety of health care workers. Now, the U.S. government is trying to bring back an industry that largely left the country years ago.
by Yuki Noguchi

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What it’s like to support a family on $12.50 an hour

What it’s like to support a family on $12.50 an hour

Many assume low-wage workers are teenagers, but data show that most are adults in their prime working years, and many support families on those wages. In recent years, economists say it’s also become increasingly challenging for low-wage workers to change careers or move up the ladder.
by Jon Collins

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Trump 2020 sues Washington Post, days after NY Times defamation suit

Trump 2020 sues Washington Post, days after NY Times defamation suit

In the latest salvo against media outlets, the campaign is targeting opinion pieces that invoke concerns that Donald Trump invited aid from Russia to boost his electoral fortunes.
by David Folkenflik

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The economic effects of coronavirus on the travel industry

The economic effects of coronavirus on the travel industry

As cases of COVID-19 come up in more countries, many travelers have changed their plans causing a ripple effect for airlines, hotels, and cruise ships. We talked with a business strategist about what efforts to contain the coronavirus mean for the travel industry.
by Kerri Miller, Marcheta Fornoff and Breann Schossow

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