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Economy

ABC News: Money

How messaging technology is helping fuel global protests New! 2020-06-06 16:55:19Protesters are using a variety of technology tools to organize rallies, record police violence and communicate during the marches sweeping the U.S. an

Government job losses are piling up, and it New! 2020-06-06 16:30:48Federal, state and local governments have shed over 1.5 million jobs since March as they begin to deal with the financial fallout from the coronavirus

OPEC, allied nations extend nearly 10M barrel cut New! 2020-06-06 15:47:18OPEC and allied nations have agreed to extend a production cut of nearly 10 million barrels of oil a day through the end of July, hoping to boost ener

Wall Street's rally zooms higher after surprise gain New! 2020-06-06 15:45:02The S&P 500 jumped another 2.6% Friday after a report said the U.S. job market surprisingly strengthened last month, bolstering hopes that the wor

New jobs report diminishes GOP appetite for more New! 2020-06-06 14:01:41A stronger than expected strong jobs report could delay action in Congress on a new coronavirus aid bill

Virus exposes sharp economic divide: College vs. non-college New! 2020-06-06 12:44:48For an American workforce under continuing threat from the coronavirus, the best protection might just be a college degree

SpaceX opens era of amateur astronauts, cosmic movie New! 2020-06-06 11:07:22SpaceX's debut astronaut launch is the biggest, most visible opening shot yet in NASA's grand plan for commercializing Earth's backyard

By the numbers: Trump reads economic boom into New! 2020-06-06 08:31:25President Donald Trump has always been a big numbers guy

Facebook removes nearly 200 accounts tied to hate 2020-06-05 23:50:26Facebook says it has removed nearly 200 social media accounts linked to white supremacy groups planning to rally members to show up at protests over p

AP Explains: Key takeaways from a surprising jobs 2020-06-05 21:31:46Economists, political aides and business leaders had been bracing for another horrific month of job cuts and swelling unemployment

US unemployment drops unexpectedly to 13.3% amid outbreak 2020-06-05 20:04:56The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — a

Nations try to get back on their feet 2020-06-05 19:43:04Bombardier Aviation is reducing its workforce by about 2,500 employees due to challenges caused by COVID-19

Reuters: Business News

U.S. unemployment rate unexpectedly falls in May 2020-06-05 09:05:25The U.S. unemployment rate unexpectedly fell in May and layoffs abated, the Labor Department said on Friday in a report that showed the latest signs t

May U.S. payrolls rise fans hopes for economic 2020-06-05 09:05:05The U.S. unemployment rate unexpectedly fell in May and layoffs abated, the Labor Department said on Friday in a report that showed the latest signs t

Trump congratulates self on U.S. jobs report, will 2020-06-05 09:03:10President Donald Trump on Friday sent a tweet taking credit for a stunning U.S. jobs report that showed the country's unemployment rate dropped durin

LVMH backs down on renegotiating Tiffany deal: sources 2020-06-05 09:02:00French luxury goods giant is not seeking to renegotiate its $16.2 billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whet

Canada adds net 289,600 jobs in May 2020-06-05 09:00:03Canada added a net 289,600 jobs in May, with most of the employment gains coming in full time, Statistics Canada said on Friday. The rebound in May hi

Canada gains 289,600 jobs in May, unemployment edges 2020-06-05 09:00:03Canada's economy unexpectedly gained 289,600 jobs in May, mostly in full-time work, Statistics Canada said on Friday. The jobless rate edged up to 13

Suntory CEO says 20% of restaurants may fail 2020-06-05 08:58:36Takeshi Niinami, the head of Japanese drinks and food group Suntory Holdings and a government adviser, predicted on Friday that more than 20% of bars

Futures jump after surprise fall in May unemployment 2020-06-05 08:54:11U.S. stock index futures sharply extended gains on Friday after a closely watched monthly employment report from the Labor Department showed the joble

Bombardier to cut 2,500 aviation jobs as COVID-19 2020-06-05 08:23:14Canadian business jet maker Bombardier Inc said on Friday it would cut 2,500 jobs, or about 11% of its workforce, at its aviation unit as the COVID-19

BBC appoints insider as new boss to negotiate 2020-06-05 08:13:15The BBC appointed an insider as its new director general on Friday, tasked with securing the future direction and financing of the publicly-funded Bri

Global stocks and euro gain ahead of U.S. 2020-06-05 08:11:35World stocks held near three-month highs and the euro also remained close to a three-month peak, thanks to a larger than expected European stimulus bo

Exclusive: Unfazed by pandemic, Bank of Japan to 2020-06-05 08:10:18The Bank of Japan is likely to maintain this month its projection that the economy will gradually recover from the damage wrought by the coronavirus p

L.A. Times - Business

There's a black jobs crisis. Coronavirus is making 2020-06-05 17:42:08Beneath the fury over George Floyd's death lie longstanding economic inequities that have plagued California's 2.6 million black people.

California grants another extension to BYD in delivering 2020-06-05 17:02:12California has granted a second extension in its $1-billion contract with Chinese automaker BYD for coveted N95 masks to fight the spread of coronavir

Craig Ferguson cuts price of Craftsman compound to 2020-06-05 16:57:03Comedian and TV host has trimmed the price of his Craftsman compound in the Hollywood Hills to $4.199 million, his fourth price cut in two years.

Outpost Estates haunt of early Paramount star Wynne 2020-06-05 16:18:39In the Outpost Estates neighborhood of the Hollywood Hills, the onetime home of early stage and film star Wynne Gibson is for sale at $4.195 million.

Los Angeles' average rent fell 3% in May 2020-06-05 15:09:45Apartment rents in the Los Angeles area are starting to decline as the economy slows because of the coronavirus outbreak.

Modernist Hiram Kwan residence in Los Feliz fetches 2020-06-05 14:48:40The Hiram Kwan residence, a modernist design of John Lautner protégé John Stevens, sells in Los Feliz for $4.265 million: $280,000 over

Bay Area group raising $1 billion for small 2020-06-05 12:39:29A Bay Area group aims to raise $1 billion to help otherwise healthy small businesses survive the next several months.

Hard-hit by break-ins, the Jewelry District never lets 2020-06-05 09:00:11While the wave of smash-and-grab burglaries caught many businesses by surprise, hyper-vigilance is the norm in the Jewelry District of Downtown Los An

Column: Mark Zuckerberg just made the case for 2020-06-05 09:00:01Mark Zuckerberg's cluelessness shows how socially dangerous Facebook has become.

May jobless rate falls to 13.3%, likely marking 2020-06-05 08:38:30The good news is that unemployment has probably peaked. The bad news is it'll take years to recover.

Architect William Hefner's California style: luxury mixed with 2020-06-05 08:30:05Hefner's upcoming book celebrates a holistic approach to design and the memory of his late wife and design partner, Kazuko Hoshino.

Is flying safe amid coronavirus outbreak? Here's what 2020-06-05 08:00:08Airline trade groups are making the case that the risk of getting COVID-19 on a flight is low.

Economy

May sees biggest jobs increase ever of 2.5 2020-06-05 09:01:30Nonfarm payrolls in May were expected to decrease by 8.333 million while the unemployment rate was seen rising to 19.5%, according to economists surve

Unlike during past economic downturns, Americans have money 2020-06-05 08:41:42Personal income increased 10.5% in April, the Bureau of Economic Analysis said last week.

The May unemployment rate is expected to be 2020-06-05 07:41:42About 8 million Americans lost their jobs in May, on top of the 20.5 million in April, and economists see unemployment peaking near 20%.

U.S. productivity falls at 0.9% rate in first 2020-06-04 09:45:26U.S. productivity fell at a 0.9% rate in the first three months of this year, a smaller decline than first estimated, while labor costs rose at a slig

Jobless claims, total unemployment level worse than expected 2020-06-04 09:39:25First-time claims for unemployment insurance were expected to total 1.775 million last week, according to economists surveyed by Dow Jones.

'The Covid-19 recession is over,' says economist Zandi 2020-06-03 16:32:21Finding good news in the loss of another 3 million jobs isn't easy, but the steep drop in private payrolls for May could be a sign that the worst ove

Private payrolls decline by 2.76 million in May, 2020-06-03 10:27:05The reported total was well below the 8.75 million estimate from economists surveyed by Dow Jones. The reason for the wide disparity was not immediate

GDP is now projected to fall nearly 53% 2020-06-03 06:40:03The GDPNow outlook is now showing a 52.8% tumble, following data that manufacturing remains firmly in decline and will weigh on investment and consump

Visa sees a pickup in consumer spending in 2020-06-02 06:19:00Visa's total U.S. payments volume fell at a much slower pace in May from the previous month, indicating that consumer spending was picking up as the

U.S. manufacturing activity pulls off 11-year low 2020-06-01 10:45:16U.S. manufacturing activity eased off an 11-year low in May, though the recovery from the Covid-19 crisis could take years because of high unemploymen

Mortgage demand from homebuyers shows unexpectedly strong and 2020-05-27 11:23:02It's not as if the coronavirus pandemic has gone away, but after a sharp pullback, homebuyers are now piling back into the housing market much faster

Consumer confidence rises unexpectedly in May as economy 2020-05-26 12:55:06Consumer confidence unexpectedly improved in May as the U.S. economy slowly restarted, according to data from the Conference Board.