April 2020 ~ Business Gist Today

Thursday 30 April 2020

Posted by Unknown - 06:15

The Daily Money: Record 30M filed for unemployment in 6 weeks

ALL THE MONEY NEWS YOU NEED TO KNOW

Thursday, April 30

It's the last day of April, Daily Money readers. Brett Molina is here with the latest Money and Tech headlines for Thursday.

More grim news about the economy: A record 30 million Americans have filed unemployment claims in the last six weeks. Morgan Stanley projects the unemployment rate in May could hit 16.4%.

Meanwhile, Americans filing for unemployment claims have found long waits on state websites. And the federal relief act relaxing rules on who can apply for unemployment has made the process even more complicated.

Finally, Costco is planning to operate at normal business hours. But there's one important catch: you must wear a mask.

Need more headlines? Scroll away.

Brett Molina, Money/Tech editor

After seeing the tally of weekly jobless claims and a stronger than expected private sector payrolls gain for August from ADP, the stage was set for a stronger than expected gain in nonfarm payrolls on Friday.

Record 30M filed for unemployment in 6 weeks

A record-breaking number of Americans filed for unemployment over six weeks as the coronavirus pandemic continued to cripple the economy.

No. 88,000 in line: This is unemployment in the US

Unemployment claims are soaring as the coronavirus

Macy's to reopen some stores next week

Macy's flagship store at Herald Square in New York

Costco to return to normal, with a requirement

Verizon expands small business fund up to $7.5M

Zuck vs. Musk: Open US now or wait?

Coronavirus' Impact on Retirement Money in the Market

Binder with the words retirement savings plan on w

Workers to protest Amazon, Instacart on Friday

Anti-Amazon protesters in Long Island City, Queens

Fed holds rates near zero, vows more action amid...

Amazon is added to 'notorious markets' list

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Wednesday 29 April 2020

Posted by Unknown - 06:00

The Daily Money: The U.S. economy shrank 4.8% in first quarter due to coronavirus

The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Wednesday, April 29

We've reached the middle of the week. It's Brett Molina here to deliver the latest Money and Tech headlines for Wednesday.

We have yet one more sign of the economic toll from the coronavirus pandemic: the U.S. economy contracted 4.8% during the first quarter. The gross domestic product, the value of all goods and services produced in the U.S., dipped as both business and consumer spending plunged due to the virus.

Meanwhile, in Detroit, the nation's biggest automakers are running out of time to restart their businesses amid COVID-19. Ford, Fiat Chrysler, and General Motors must bring back assembly factories quickly to avoid further financial costs from shutdowns caused by the pandemic, experts say.

Finally, move over Captain America and Batman. The next superhero action figures your kids might want: doctors, nurses and grocery store workers.

Want more news? Keep scrolling.

Brett Molina, Money/Tech editor