Business, Logistics

United Air Warns Outlook Threatens One-Third of Pilot Jobs

United Airlines planes stand past an empty waiting area for travelers at Newark International Airport in New Jersey. United Airlines planes stand past an empty waiting area for travelers at Newark International Airport in New Jersey. (Angus Mordant/Bloomberg News)

United Airlines Holdings Inc. warned that it’s considering furloughs for as many as one-third of its nearly 12,000 pilots, citing a resurgence in U.S. coronavirus cases that’s weakened sales.

Justin Bachman | Bloomberg News
July 30, 2020
Business, Logistics

Walmart Is Eliminating Hundreds of Corporate Jobs

A nearly empty parking lot stands outside the Walmart World Headquarters in Bentonville, Ark., on May 28. A nearly empty parking lot stands outside the Walmart World Headquarters in Bentonville, Ark., on May 28. (Terra Fondriest/Bloomberg News)

Walmart Inc. has eliminated hundreds of corporate positions, according to people familiar with the matter, as retailers around the country slim down at the back-office level.

Matthew Boyle | Bloomberg News
July 30, 2020
Government, Business

US Economy Shrank at Record-Breaking 33% Rate Last Quarter

A "For Rent" sign hangs on a closed shop in Miami Beach, Fla., on July 13. A "For Rent" sign hangs on a closed shop in Miami Beach, Fla., on July 13. (Lynne Sladky/Associated Press)

The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said July 30.

Martin Crutsinger | Associated Press
July 30, 2020
Government, Business, Safety

House Lawmakers Examine FEMA’s Disaster Response Policies

Livestock trailer in Gilroy fire A livestock trailer drives along Canada Road as the Crews Fire burns near Gilroy, Calif., on July 5. (Noah Berger/AP)

The COVID-19 pandemic prompted several congressional transportation leaders to examine the Federal Emergency Management Agency’s ability to assist citizens during events that impede access to freight and passenger corridors.

Eugene Mulero | Senior Reporter
July 30, 2020
Government, Business, Fuel

Oil Clings to Gains After US Supplies Shrink by Most This Year

Emissions rise from an oil refinery in Louisiana on June 12. Emissions rise from an oil refinery in Louisiana on June 12. (Luke Sharrett/Bloomberg News)

Oil was propped up by the biggest decline in U.S. crude stockpiles this year, signaling a bright spot in a market weakened by the COVID-19 pandemic.

July 29, 2020
Government, Business

Trump Says Republicans, Democrats Far Apart in Stimulus Talks

Treasury Secretary Steven Mnuchin. Treasury Secretary Steven Mnuchin. (Al Drago/Bloomberg News)

President Donald Trump said that Republicans and Democrats aren’t close to resolving their differences over a coronavirus stimulus package, and that Congress may need to pass some stopgap measures to prevent aid from running out.

Misyrlena Egkolfopoulou | Bloomberg News
July 29, 2020
Government, Business

New COVID-19 Stimulus With Transportation Aid Stuck in Congress

Houston airport In the Senate plan, the FAA's Airport Improvement Program would receive $10 billion. George Bush Intercontinental Airport by David J. Phillip/AP

With much of the country looking to Washington for assistance, slow-moving negotiations on the next COVID-19 economic stimulus package have been marked by partisan disagreements.

Eugene Mulero | Senior Reporter
July 28, 2020
Business, Fuel

Oil Falls With US Stockpile Concerns Amplifying Demand Woes

A pump jack operates outside of Midland, Texas, on April 24. A pump jack operates outside of Midland, Texas, on April 24. (Matthew Busch/Bloomberg News)

Oil declined as investors turned their focus to domestic supply, with expectations for another build in U.S. stockpiles.

Andres Guerra Luz | Bloomberg News
July 28, 2020
Government, Business

US Consumer Confidence Fell in July as Expectations Slumped

A shopper browses sneakers displayed in the window of a store in San Francisco. A shopper browses sneakers displayed in the window of a store in San Francisco. (Michael Short/Bloomberg News)

U.S. consumer confidence declined in July by more than forecast as a pickup in COVID-19 cases rattled Americans’ sentiment about prospects for the economy and the job market.

Maeve Sheehey | Bloomberg News
July 28, 2020
Government, Business

Wall Street Returns to Rally; Gold Jumps to Record High

A masked man looks at an electronic stock board in Tokyo on July 27. A masked man looks at an electronic stock board in Tokyo on July 27. (Eugene Hoshiko/Associated Press)

Wall Street’s rally got back on track July 27, while gold rushed to a record at the start of a week packed with potentially market-moving events.

July 27, 2020

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