4 days agoAs jobless numbers spike, a question rises: When can economy reopen? A record 3.3 million Americans filed initial jobless claims in the past week, four times the previous high, amid efforts to contain the coronavirus.
5 days agoFirst Look -- Safety net? Record 3.3 million people seek unemployment benefits -- After massive coronavirus layoffs, economists say the U.S. unemployment rate will be near 13% by May, the highest since the 1930s. One provision in the $2 trillion federal rescue bill offers an extra $600 a week on top of unemployment aid from states.
5 days agoFirst Look -- Federal Reserve unleashes unprecedented support for US economy -- The Federal Reserve's new programs go beyond any rescue attempt done during the 2008 crisis to both stabilize the economy and alleviate panic in financial markets. But economists warn that Congress' fiscal support is essential and should come soon.
5 days agoThe next Tesla? Why Ohio's 'Voltage Valley' has high hopes. -- Lordstown Motors is retooling a shuttered GM factory to make electric pickup trucks. Success may hinge on federal policy as well as local ingenuity.
11 days agoGrocery clerks get a new title: Emergency responders -- As unexpected front-line workers in a crisis, food store clerks win praise, respect, and even formal "emergency worker" recognition in some states.
11 days agoFocus -- From Milan to Miami, locked-in nations try to soften an economic blow -- A global health crisis has become an economic crisis spurring governments to open checkbooks, not to avert a recession as much as to lessen severity.
12 days agoFirst Look -- A temporary government stimulus brings stock market stability -- Governments worldwide are quickly moving to establish financial aid packages to stabilize stock markets. The hope is to avoid a long-term economic recession due to coronavirus lockdowns.
12 days agoNot just for the military: More chaplains come to employees' aid -- Workplace chaplains are becoming more common as some companies look to supplement employee assistance programs.
11 days agoFirst Look -- 'Despite whipping out the big guns' Dow dives 2,997 points -- Volatility is the new normal in Wall Street as the stock market plunged again for its worst day in more than three decades. But President Donald Trump and professional investors say the stock market could bounce back strongly as the virus gets under control.
15 days agoFirst Look -- Preventative move? US Fed Reserve abruptly cuts interest rates -- Concerned about slowing economic activity, the U.S. Federal Reserve made a surprise move Sunday to cut rates and inject $700B into bond markets.
16 days agoFirst Look -- Worst market day since 1987; wide-scale event cancellation -- Wall Street ended its unprecedented bull-market run of nearly 11 years Thursday when the S&P 500 plummeted 9.5%. The cancellations of sports tournaments, cultural events, travel, and more gain momentum worldwide.
16 days agoWhen fear goes viral: Battling prejudice in Chinatown -- Fear of COVID-19 can fan racism. But our reporter finds that communities around the world are countering prejudice with acts of kindness and gratitude.
12 days agoFocus -- Why COVID-19 is likely to change globalization, not reverse it -- Can the world's connecting fabric be undone by the coronavirus? Business experts say the benefits of trade are undiminished.
22 days ago