Government, Business

US Recovery More Tenuous as Jobless Claims Rise, Incomes Fall

People dine at a restaurant in San Diego, Calif. (Bing Guan/Bloomberg News) People dine at a restaurant in San Diego, Calif. (Bing Guan/Bloomberg News)

Applications for U.S. state unemployment benefits unexpectedly posted the first back-to-back weekly increase since July, while Americans’ incomes and savings fell last month.

Henry Ren and Reade Pickert | Bloomberg News
November 25, 2020
Business, Fuel

Oil Advances to Eight-Month High on Demand Optimism

Fuel storage tanks stand in California on April 23. (David Paul Morris/Bloomberg News) Fuel storage tanks stand in California on April 23. (David Paul Morris/Bloomberg News)

Oil extended gains, trading at its highest level since March, on mounting optimism that recent breakthroughs on a COVID-19 vaccine will lead to a swift recovery in global energy demand next year.

November 25, 2020
Business, Logistics

UPS Will Make Dry Ice, Offer Freezers for Vaccine Distribution

UPS can make as much as 1,200 pounds of dry ice an hour near its Worldport air hub. UPS can make as much as 1,200 pounds of dry ice an hour near its Worldport air hub in Louisville, Ky. (Luke Sharrett/Bloomberg News)

UPS Inc. has set up its own dry ice production and will provide portable, super-cold freezers to its health care customers as the courier prepares for the massive rollout of COVID-19 vaccines.

Thomas Black | Bloomberg News
November 24, 2020
Government

COVID-19 Aid, Government Funding Lead Lame-Duck Agenda

Nancy Pelosi (left) by Susan Walsh/AP; Mitch McConnell by Patrick Semansky/AP Nancy Pelosi (left) by Susan Walsh/AP; Mitch McConnell by Patrick Semansky/AP

Members of Congress return to Capitol Hill after Thanksgiving to close out a post-election lame-duck session that will include government funding legislation and the possibility of a new round of COVID-19 relief aid.

Eugene Mulero | Senior Reporter
November 24, 2020
Government, Business

US Consumer Confidence Falls as Virus Surge Dampens Expectations

A shopper rides an escalator at the Hudson Yards mall in New York. A shopper rides an escalator at the Hudson Yards mall in New York. (Peter Foley/Bloomberg News)

U.S. consumer confidence fell in November to a three-month low as the coronavirus resurgence prompted a slide in Americans’ expectations for the economy and job market.

Jarrell Dillard | Bloomberg News
November 24, 2020
Government, Business, Logistics

Boatloads of Cargo Off Los Angeles Grind Gears of World Economy

Cargo ships can be seen anchored off the Port of Long Beach and Port of Los Angeles in Signal Hill, Calif., on Nov. 20. Cargo ships can be seen anchored off the Port of Long Beach and Port of Los Angeles in Signal Hill, Calif., on Nov. 20. (Bing Guan/Bloomberg News)

A flotilla of almost a dozen cargo vessels sits anchored just south of Los Angeles this weekend, waiting for berth space. Around the twin ports of L.A. and Long Beach, shipping containers already are stacked five and six high — the maximum the fire department will allow.

Brendan Murray | Bloomberg News
November 23, 2020
Government, Business

Manufacturing Sector Improves Despite Persisting COVID Issues

Manufacturing by Bloomberg News According to the National Association of Manufacturers, the manufacturing sector is 4.8% below the level it was at in February. However, gains have been made in recent months. (Matthew Busch/Bloomberg News)

Manufacturing has improved greatly since the onset of the coronavirus pandemic, but a lot of work remains, experts said during a panel discussion.

Connor D. Wolf | Staff Reporter
November 20, 2020
Government, Business, Safety, Fuel

Trucking Offered Measure of Stability in Diesel Revenue as Pandemic Caused Gas Tax Revenue to Tank

Trucker gets fuel Thinkstock

In addition to essential supplies, truck drivers during the pandemic provided a service that is less tangible but no less important: boosting revenue for state transportation departments.

Eleanor Lamb | Staff Reporter
November 20, 2020
Government, Business, Fuel

States Take Action as COVID-19 Chokes Revenue Streams

Sunoco gas station via RiverNorthPhotography via Getty Images A Sunoco gas station in Troy, Mich. (RiverNorthPhotography via Getty Images)

Many state transportation agencies continue to develop revenue forecasts to determine how much money they can expect to lose in fuel tax revenue, tolls and transit fares in the wake of the pandemic.

Eleanor Lamb | Staff Reporter
November 20, 2020
Business, Fuel

Oil Poised for Weekly Increase on COVID-19 Vaccine Optimism

A pumpjack is silhouetted as it operates in Azerbaijan. Taylor Weidman/Bloomberg News

Oil is poised for a third weekly gain with positive COVID-19 vaccine developments paving the way for a more sustained recovery in oil demand.

Andres Guerra Luz | Bloomberg News
November 20, 2020

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