Biden to reveal major spending plan that calls for revamp of tax code
President Joe Biden has made clear his plans will include tax-policy changes to help fund what aides have laid out as a roughly $3 trillion long-term program.
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Chip shortages force more cuts at North American auto plants
Consultant AlixPartners has said the global chip shortage could cost automakers $61 billion in lost sales this year. The recent setbacks could further delay an expected second-quarter recovery in output.
Survey: Bosses clueless that workers are miserable, looking to leave
The data found burnout is widespread—54% of workers said they are overworked and 39% said exhausted.
Stores that defined American malls bet on freestanding future
Retailers are abandoning enclosed malls in growing numbers as the rise of online shopping transforms the industry—a trend that has accelerated during the coronavirus pandemic.
Amazon jumps into health care with telemedicine initiative
The tech giant announced it will immediately expand Amazon Care to interested employers in Washington state. By the summer, it will expand nationally to all Amazon workers and to private employers across the country who want to join.
Lilly’s Alzheimer’s drug shows modest benefit in mid-stage trial
Eli Lilly and Co. on Saturday morning presented highly anticipated details from a mid-stage study showing that its experimental drug slowed Alzheimer’s disease progression over about 18 months.
Dow, S&P 500 shake off slow start, reach new highs
Another climb in bond yields helped pull money out of Big Tech companies, which have started to look expensive after months of soaring through the pandemic.
Lilly stock poised for record if Alzheimer’s drug results shine
Indianapolis-based Eli Lilly and Co. is set to report results from a trial of its experimental Alzheimer’s medicine on Saturday in a move that could boost shares of the year’s already best-performing big drugmaker.
More records for stock indexes as stimulus bill becomes law
The S&P 500, the Dow Jones industrial average and the Russell 2000 measure of small-company stocks all closed at record levels on Thursday.
Nasdaq makes biggest jump since November as Big Tech surges
Gains for major tech companies powered a 3.7% surge in the Nasdaq on Tuesday, the largest jump for the index in months.
Dirt-cheap flights offered as airlines rebuild battered networks
Airlines worldwide cut $1 billion of expenses a day last year to cope with the slump in passengers, and that’s given them some wiggle room to lower ticket prices.
Wall Street finishes mixed as tech slump offsets other gains
Tech shares tumbled anew on Monday, sending the Nasdaq composite index down 11% from its all-time high, as investors fled high-valuation stocks for companies whose fortunes are closely tied to the economic cycle.
Business travel misses out on recovery
The Global Business Travel Association estimates that worldwide spending on commercial travel won’t recover to its pre-pandemic peak of $1.4 trillion until 2025.
S&P 500 has best day since June as stocks rally on Wall Street
The 2.4% jump in the benchmark index Monday followed back-to-back weekly losses and came as investors were relieved to see long-term interest rates easing lower in the bond market.
Hospitals plead for bailout in face of runaway pandemic bills
U.S. hospitals face up to $122 billion in lost revenue this year as the pandemic continues its rampage, threatening to push more critical-care centers into bankruptcy or out of business entirely.
Steak ‘n Shake sues lender Fortress after averting bankruptcy
Steak ‘n Shake Inc. is accusing the investment firm of misusing confidential business information in a scheme to take control of the restaurant chain’s assets.
Stock market bounces back from big early losses
The reversal came after after reassuring comments from Federal Reserve Chairman Jerome Powell on inflation and the outlook for growth spurred traders to buy the dip.
Kohl’s faces activist group seeking control of board
Kohl’s Corp. is under pressure from a group of activists who want to name nine directors to control its board and are pressing the retailer to reduce inventory and end its “dizzying array of promotional gimmicks.”
Stocks pare gains while bonds extend losses
U.S. stocks turned mixed as benchmark Treasury yields climbed to the highest levels in a year, renewing concern that rising borrowing costs and price pressures could derail the economic recovery.
One of 10 in United States might have to switch occupations after pandemic
Women, minorities, the young and the less educated will probably be the hardest hit by what consultant firm McKinsey & Co. foresees in a new report as an unprecedented hollowing out of low-wage work in retail, hospitality and other industries.