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Late slump on Wall Street leaves stock market broadly lower

An afternoon slump on Wall Street gained momentum in the last hour of trading, leaving stocks broadly lower and erasing some of the market's gains from last week. The S&P 500 lost 2.1% Tuesday. The weakness came as investors debate whether the...

 

Kansas sausage making plant shuts down amid COVID-19 cases

TOPEKA Kan. (AP) — A Kansas plant that makes sausage shut down Wednesday after employees tested positive for the coronavirus, and an outbreak that has infected hundreds at the state's largest prison claimed the life of another worker. The shutdown...

 

US wholesale prices drop record 1.3% in April

WASHINGTON (AP) — Wholesale prices slid a record 1.3% in April led by a 19% plunge in the cost of energy, further signaling the potential threat of deflation in the United States. The Labor Department said that its producer price index, which...

 

US meat exports surge as industry struggles to meet demand

OMAHA, Neb. (AP) — U.S. meat exports are surging even as the industry is struggling to meet domestic demand because of coronavirus outbreaks at processing plants that have sickened hundreds of workers and caused companies to scramble to improve...

 

A distinct possibility: 'Temporary' layoffs may be permanent

WASHINGTON (AP) — In late March, Britney Ruby Miller, co-owner of a small chain of steakhouse restaurants, confidently proclaimed that once the viral outbreak had subsided, her company planned to recall all its laid-off workers. Now? Miller would...

 

Trump advisers cite need to stop 'permanent' economic toll

WASHINGTON (AP) — Some of President Donald Trump's top economic advisers emphasized on Sunday the importance of states getting more businesses and offices open even as the pandemic makes its way to the White House complex, forcing three members of...

 

Colorado restaurant shut down for allowing sit-down dining

DENVER (AP) — A Colorado restaurant that opened for full service on Mother's Day in defiance of state rules banning sit-down dining was ordered to close Monday and had its license suspended indefinitely by health officials. A video posted by...

 

Uber loses $2.9 billion, offloads bike and scooter business

NEW YORK (AP) — Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic, but the company is looking to its growing food delivery business and aggressive cost-cutting to ease the pain. The...

 

BNSF Railway to close 2 Wyoming facilities, lay off workers

CASPER, Wyo. (AP) — A national railway company has announced two of its facilities in Wyoming will close and 122 employees will be laid off in response to difficult coal industry markets. BNSF Railway is scheduled to close its maintenance facility...

 

WVU furloughing about 875 staffers as virus hits revenues

MORGANTOWN, W.Va. (AP) — West Virginia University is furloughing around 875 staffers due to a possible $40 million loss from the coronavirus pandemic, the college said Friday. The school issued a statement saying the furloughs will start on May 24...

 

Stocks rise on hopes that awful jobs report marks the bottom

Wall Street doubled down on its bet that the worst of the recession has passed, sending stocks higher again on Friday despite another historic, crushing report on the job market. Stocks around the world were already rising before the U.S. government...

 

Coronavirus, oil glut could cost local governments $1B

NEW ORLEANS (AP) — The coronavirus battle and the world oil glut could cost cities, parishes and school boards in Louisiana anywhere from $404 million to $1.1 billion over two fiscal years, the state's Legislative Auditor's Office said Thursday. Bu...

 

US pulls permission for Chinese masks found defective

WASHINGTON (AP) — Federal health officials have revoked U.S. authorization for masks made by more than 60 Chinese manufacturers after they failed to meet standards needed to protect health care workers. The Food and Drug Administration had allowed...

 

US unemployment surges to a Depression-era level of 14.7%

WASHINGTON (AP) — The coronavirus crisis has sent U.S. unemployment surging to 14.7%, a level last seen when the country was in the throes of the Depression and President Franklin D. Roosevelt was assuring Americans that the only thing to fear was...

 

10 takeaways from the worst jobs report in US history

BALTIMORE (AP) — Brutal. Horrific. Tragic. Choose your description. The April jobs report showed, in harrowing detail, just how terribly the coronavirus outbreak has pummeled the U.S. economy. Most obviously, there's the 14.7% unemployment rate,...

 

Lost your job? Here's what you need to know

WASHINGTON (AP) — Nearly 33.5 million Americans have lost their jobs and applied for unemployment benefits in the past 7 weeks — a stunning record high that reflects the near-complete shutdown of the U.S. economy. On Friday, the government said...

 

US firms return virus loans as Treasury threatens penalties

WASHINGTON (AP) — More than 40 public companies are pledging to return money to the government's small business coronavirus fund now that Treasury Secretary Steven Mnuchin is threatening criminal prosecutions for violating the rules of the...

 

Task force aims at incentives for oil drillers amid virus

BISMARCK, N.D. (AP) — Hoping to avoid what North Dakota Gov. Doug Burgum has called a potential "economic Armageddon," state and industry officials have formed a group intended to help oil and gas producers recover from falling crude prices due to...

 

Oil firms renew request to shield finances in Alaska deal

ANCHORAGE, Alaska (AP) — Two oil companies renewed a request for Alaska regulators to protect the financial information of Hilcorp Energy Co., in its proposed $5.6 billion purchase of BP Alaska assets in the state. Hilcorp wants the Regulatory...

 

In push for normalcy, industries, nations test the waters

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the global economy, the work place and the spread of the virus. ________________________ ARE WE THERE...

 

Furniture company to permanently close Mississippi facility

STARKVILLE, Miss. (AP) — A furniture manufacturing plant in Mississippi, open since 1985, is headed for closure. In a news release Wednesday, Flexsteel Industries, Inc. said its Starkville plant, along with a second facility in Dubuque, Iowa, will...

 

Americans without bank accounts must wait for federal checks

NEW YORK (AP) — As the coronavirus crisis took hold, Akeil Smith's employer slashed her work as a home health aide to 25 hours per week. Her $15-an-hour salary no longer provided enough to pay her $700 monthly rent, and she had to visit food...

 

Carnival Cruise Line plans to sail again starting in August

Carnival Cruise Line said Monday that it plans to gradually resume cruising in North America in August, nearly five months after it halted operations due to the new coronavirus. Sailings will begin on Aug. 1 or soon after, with eight ships setting...

 

Halliburton shuts Texas sites, lays off 240 Oklahoma workers

HOUSTON (AP) — Oilfield services giant Halliburton has closed down two sites in Texas and laid off 240 employees in Oklahoma in response to reduced customer activity due to plummeting oil prices. Halliburton closed its Elmendorf facility and is...

 

Healthy pigs being killed as meatpacking backlog hits farms

DES MOINES, Iowa (AP) — After spending two decades raising pigs to send to slaughterhouses, Dean Meyer now faces the mentally draining, physically difficult task of killing them even before they leave his northwest Iowa farm. Meyer said he and othe...

 

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