Articles written by paul wiseman
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Musk on trial: Defends SolarCity, calls lawyer 'bad human'
WILMINGTON, Del. (AP) — Tesla founder Elon Musk took to a witness stand Monday to defend his company's 2016 acquisition of a troubled company called SolarCity against a lawsuit that claims he's to blame for a deal that was rife with conflicts of i...
US jobless claims fall to 712,000 as pace of layoffs eases
WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell last week to 712,000, the lowest total since early November, evidence that fewer employers are cutting jobs amid a decline in confirmed coronavirus cases and signs of an i...
EXPLAINER: 5 key takeaways from the February jobs report
WASHINGTON (AP) — America's job market delivered a burst of strength in February. It lifted hopes that the rollout of viral vaccines, the distribution of federal aid and the increasing willingness and ability of consumers to go out and spend will i...
Biden's $15 wage proposal: Job killer or a boon for workers?
WASHINGTON (AP) — President Joe Biden's effort to raise the federal minimum wage to $15 an hour could provide a welcome opportunity for someone like Cristian Cardona, a 21-year-old fast food worker. Cardona would love to earn enough to afford to m...
EXPLAINER: 5 key takeaways from the January jobs report
WASHINGTON (AP) — The struggles that have afflicted the American job market since the viral pandemic tore through the economy nearly a year ago are keeping a tight lid on hiring. The Labor Department's report Friday that employers added a meager 4...
As small businesses await new US aid, it's too late for some
NEW YORK (AP) - Clay Reynolds is starting to make peace with a gut-wrenching reality: He may have to once again close his business, Arrichion Hot Yoga and Circuit Training. The $900 billion pandemic relief package that Congress has just approved...
US layoffs remain elevated as 803,000 seek jobless aid
WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the U.S. economy into r...
From restaurants to retailers, virus transformed economies
NEW YORK (AP) — It would be just a temporary precaution. When the viral pandemic erupted in March, employees of the small insurance firm Thimble fled their Manhattan offices. CEO Jay Bregman planned to call them back soon — as soon as New York was...
EXPLAINER: 5 key takeaways from the November jobs report
WASHINGTON (AP) — Evidence was abundant in the November jobs report that the U.S. economy's tentative recovery is sputtering as coronavirus cases accelerate and federal aid runs out. Hiring slowed sharply. Hundreds of thousands of people gave up l...
US jobless claims rise to 778,000 as pandemic worsens
WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to 778,000, evidence that the U.S. economy and job market remain under strain as coronavirus cases surge and colder weather heighten the risks. The Labor Depa...
Top CEOs met to plan response to Trump's election denial
WASHINGTON (AP) — Only a few of America's CEOs have made public statements about President Donald Trump's refusal to accept his election loss, but in private, many are alarmed and talking about what collective action would be necessary if they see a...
Insider Q&A: Why US economy needs more aid from Washington
WASHINGTON (AP) — The U.S. economy is expected to rebound from a disastrous spring. Paralyzed by the coronavirus, economic output collapsed at a 31.4% annual pace from April through June — the worst such plunge on records dating to 1947. Growth is...
Trump trade policy: 4 years of high drama. Limited results.
WASHINGTON (AP) — President Donald Trump spent four years upending seven decades of American trade policy. In what became his defining economic act, Trump launched a trade war with China. On another front, he taxed the steel and aluminum of U.S. a...
5 takeaways from NY Times report on Trump's tax returns
WASHINGTON (AP) — A New York Times report that President Donald Trump paid just $750 in federal income tax the year he entered the White House — and, thanks to colossal losses, no income tax at all in 11 of the 18 years that the Times reviewed — s...
AP Explains: US debt will soon exceed size of entire economy
WASHINGTON (AP) — The U.S. government's war against the coronavirus is imposing the heaviest strain on the Treasury since America's drive to defeat Nazi Germany and imperial Japan three-quarters of a century ago. The Congressional Budget Office h...
US relief checks begin arriving as economic damage piles up
WASHINGTON (AP) — Government relief checks began arriving in Americans' bank accounts as the economic damage to the U.S. from the coronavirus piled up Wednesday and sluggish sales at reopened stores in Europe and China made it clear that business w...
Virus-related shutdowns bringing US economy to grinding halt
AUSTIN, Texas (AP) — It took 15 minutes for the coronavirus to wreck Shelley Hutchings' carefully calculated financial plans. Hutchings, a bartender and performer, had lined up gigs in advance of the South by Southwest film, music and technology f...
Anxiety grips companies across the world as virus spreads
WASHINGTON (AP) — Since breaking out of China, the coronavirus has breached the walls of the Vatican. It's struck the Iranian holy city of Qom and contaminated a nursing home in Seattle. And around the world, it's carrying not just sickness and d...
Outbreak starts to look more like worldwide economic crisis
NEW YORK (AP) — The coronavirus outbreak began to look more like a worldwide economic crisis Friday as anxiety about the infection emptied shops and amusement parks, canceled events, cut trade and travel and dragged already slumping financial m...
For businesses, virus in China fans fear and uncertainty
China's worst health crisis in years has sparked fear and uncertainty for businesses from North America to Asia that depend on trade in the affected region. Experts say it's too soon to know how disruptive the crisis will prove. But it's already...
Emphasis on US exports, trade secrets in China trade deal
WASHINGTON (AP) — The United States and China reached a trade deal Wednesday that eases tensions between the world's two biggest economies, offers massive export opportunities for U.S. farms and factories, and promises to do more to protect A...
How US-China trade deal achieved a little but left out a lot
WASHINGTON (AP) — The limited trade deal that the Trump administration and Beijing announced Friday means Americans will avoid a holiday tax increase on imported toys, clothing and smartphones. U.S. farmers can sell more soybeans and pork to C...
Business economists see US slowing but avoiding recession
WASHINGTON (AP) — The nation's business economists expect U.S. economic growth to decelerate this year and next but for the economy to avoid stumbling into recession, extending a record-breaking expansion already in its 11th year. The latest s...
World trade without rules? US shuts down WTO appeals court
GENEVA (AP) — Global commerce will lose its ultimate umpire Tuesday, leaving countries unable to reach a final resolution of disputes at the World Trade Organization and instead facing what critics call "the law of the jungle.'' The United States, u...
US-China issues of dispute remain vast despite trade truce
WASHINGTON (AP) — The Trump administration and China declared a temporary truce Friday in their 15-month trade war. Yet the grievances that led them to impose tariffs on hundreds of billions of dollars of each other's goods remain largely u...
