Restaurant closings top 110,000 with industry in ‘free fall’
The nationwide tally—representing one in six U.S. eateries—is among the findings of a survey released Monday by the National Restaurant Association.
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Major stock indexes all hit new records on renewed stimulus hopes
All major indexes for U.S. equities—the S&P 500, the Dow Jones industrial average, the Russell 2000 and the Nasdaq composite—closed at records. Such synchronized highs were last seen in January 2018.
U.S. COVID-19 task force promises rapid December vaccine rollout
Top U.S. infectious-diseases specialist Anthony Fauci said the government “almost certainly” will be vaccinating portions of the U.S. population by the end of December, but the country will likely see a surge in COVID-19 cases before that happens.
Dow closes above 30,000 for first time, S&P 500 jumps to record
Trading volumes have been elevated in what is normally a calm week. More than 12 billion shares changed hands on Monday, up 75% from the Monday before last year’s holiday.
Amazon’s $3,000 signing bonuses irk workers who got $10 coupons
Amazon’s willingness to risk dissension in the ranks reflects a dawning reality: Many Americans are reluctant to reenter the workforce, despite a national unemployment rate of 6.9%, double the pre-pandemic level.
Consumers maintain insatiable demand for disinfecting products
Clorox Co. has added 10 additional third-party manufacturers and is running its own facilities 24 hours a day to make disinfecting wipes as fast as possible. But it’s not fast enough.
Virus surge threatens newfound U.S. corporate profit optimism
While an effective vaccine is expected to be widely distributed in 2021, surging U.S. infections are causing renewed angst as government officials re-impose the kind of restrictions that squelched the economy and roiled markets earlier this year.
Apple to cut App Store fees in half for most developers
Apple has faced ongoing scrutiny from government regulators and criticism from developers about the percentage of revenue it takes for App Store purchases.
DoorDash, Wish, Affirm join Airbnb to fuel year-end IPO boom
Initial Public Offering advisers are expecting to see a record amount of listing activity during the period between the U.S. Thanksgiving and Christmas holidays.
Caution arises on rapid COVID-19 tests in asymptomatic people
One of the first states to receive rapid, low-cost coronavirus tests from the U.S. government is cautioning against their use in asymptomatic people, a group that were hoped to benefit most from the technology.
Stocks put together biggest 2-day rally since September
The Dow Jones industrial average closed 554 points higher, led by a surge in bank shares as Treasury yields spiked on speculation that Congress will deliver a spending bill once the election is decided.
Stocks rally ahead of a potentially turbulent election week
U.S. stocks rebounded from the worst week since March as investors bet on the energy, materials and industrial sectors ahead of Tuesday’s presidential election.
Two mall owners dragged into bankruptcy by carnage among retail tenants
Pennsylvania Real Estate Investment Trust and CBL & Associates Properties Inc. sought protection from creditors Sunday, citing pandemic-induced pressures. The two REITs account for about 87 million square feet of real estate across the U.S.
Recipe: A star chef’s recipe makes the classic pigs in a blanket even better
Chef Alex Guarnaschelli, the erstwhile star of Chopped and the new Supermarket Stakeout, is a notable French-trained cook who helms Butter Midtown in New York. She has also long recognized the power of pigs in blankets—especially dunked in mustard.
U.S. air passengers exceed 1 million, first time since March
People have incrementally returned to the skies, but in far fewer numbers than normal. The seven-day average as of Sunday was 871,513, or 35.6% of the equivalent week last year.
Corporate America puts $2 trillion in bank in run-up to election
Reluctance to put money to work took hold when the pandemic struck and has shown few signs of easing.
Fed’s Bullard says U.S. could see rapid decline in unemployment
Federal Reserve Bank of St. Louis President James Bullard the U.S. labor market is likely to bounce back quickly when more temporarily furloughed workers return to jobs and the coronavirus pandemic comes under control.
Eli Lilly says other antibody trials ongoing after pause in one study
Lilly said it is reviewing safety data that caused federal researchers to pause a trial of the company’s COVID-19 antibody treatment in hospitalized patients. Other trials using lower doses of the drug outside the hospital will continue.
Amazon’s ‘Christmas Creep’ poses stress test for FedEx, UPS
FedEx and United Parcel Service are girding for their biggest test yet in the e-commerce era, with the holiday shopping season pushed ever earlier and stretching the limits of shipping networks already strained by the COVID-19 pandemic.
Google tries to turn YouTube into major shopping destination
Every toy, gadget and good you see on YouTube could soon be for sale online—not on Amazon, but right on YouTube itself.