Government, Business

Boeing Seeks US Aid Plus Help for Suppliers, Airlines

Boeing signage.. (Luke Sharrett/Bloomberg News)

Boeing Co. has asked White House and congressional officials for short-term aid for itself, suppliers and airlines as the outlook for the travel industry worsens by the day because of the coronavirus outbreak, people familiar with the matter said.

Julie Johnsson | Bloomberg News
March 17, 2020
Business, Safety

VW Shutters Europe Plants as Pandemic Slams Auto Industry

Travelers pass a VW advertisement on a railway station subway wall near company headquarters in Wolfsburg, Germany, on March 12. Travelers pass a VW advertisement on a railway station subway wall near company headquarters in Wolfsburg, Germany, on March 12. (Krisztian Bocsi/Bloomberg News)

Volkswagen AG will halt production at its plants in Europe, deepening the economic pain the rapidly spreading coronavirus is inflicting on the struggling car industry.

Christoph Rauwald | Bloomberg News
March 17, 2020
Government, Business

Trump Pushes $1.2 Trillion Stimulus, $1,000 Checks in Two Weeks

President Trump listens during a meeting with tourism industry executives at the White House on March 17. President Trump listens during a meeting with tourism industry executives at the White House on March 17. (Kevin Dietsch/Bloomberg News)

The Trump administration is discussing a plan that could amount to as much as $1.2 trillion in spending — including direct payments of $1,000 or more to Americans within two weeks — to blunt some of the economic impact of the widening coronavirus outbreak.

March 17, 2020
Government, Business, Safety

Recession Coming in Q2 From Coronavirus Impact, Economists Say

Recession A man wearing a mask walks in front of the New York Stock Exchange. (Mark Lennihan/Associated Press)

The U.S. economy is rapidly moving from 121 consecutive months of growth to a recession, the result of consumers and businesses hitting the brakes over mounting fears of the coronavirus.

Dan Ronan | Associate News Editor
March 17, 2020
Government, Business, Fuel, Logistics

New York Officials, Trucking Association Take Caution Amid COVID-19

George Washington Bridge NY Traffic heading into New York City on the George Washington Bridge. (Getty Images)

New York, New Jersey and Connecticut have teamed up to institute restrictions on social gathering places. Trucking Association of New York President Kendra Hems said it still is too early to tell what the restrictions’ impacts on the industry will be.

Eleanor Lamb | Staff Reporter
March 17, 2020
Government, Business, Fuel

Diesel Falls 8.1¢ to $2.733 a Gallon; Gasoline Drops 12.7¢

Driver filling up truck with diesel fuel Getty Images

The nationwide average price of diesel fuel declined by 8 cents per gallon March 16, according to the U.S. Energy Information Administration.

Connor D. Wolf | Staff Reporter
March 16, 2020
Government, Business

Stocks Plunge 12% in Biggest Rout Since 1987

Markets plunge 12% on March 16, 2020 Trader Peter Tuchman works on the floor of the New York Stock Exchange March 16. (Craig Ruttle/Associated Press)

The stomach-turning ride on global financial markets took a dramatic turn March 16, with U.S. stocks plunging the most since 1987 after President Donald Trump warned the economic disruption from the virus could last into summer.

March 16, 2020
Business, Safety, Logistics, Breaking News

Amazon to Hire 100,000 to Help Meet Coronavirus-Related Order Spike

An Amazon fulfillment center in New Jersey Employees pull carts containing online orders at the Amazon.com fulfillment center in Robbinsville, N.J. (Bess Adler/Bloomberg News)

Amazon .com will hire 100,000 people — and give U.S. workers a $2-an-hour raise — in an effort to meet crushing demand from customers placing online orders for household essentials rather than going to crowded stores.

Dan Ronan | Associate News Editor
March 16, 2020
Government, Business

Canada to Close Border Except for US Citizens, Commerce

Justin Trudeau Canada's Prime Minister Justin Trudeau addresses the media outside his home in Ottawa on March 13. (David Kawai/Bloomberg)

Canada is closing its borders to anyone who is not a citizen or a permanent resident amid the coronavirus pandemic, Prime Minister Justin Trudeau announced March 16. However, the declaration does not affect the shipment of goods into the country, and for now, U.S. citizens.

Dan Ronan | Associate News Editor
March 16, 2020
Business, Fuel

Oil Supertankers Fetch Astronomical Rates With Vessels Scarce

An Iranian crude oil tanker sits anchored off the coast of Gibraltar in July 2019. An Iranian crude oil tanker sits anchored off the coast of Gibraltar in July 2019. (Marcelo del Pozo/Bloomberg News)

Oil companies are being forced to pay exorbitant prices for oil tankers as shipowners book vessels for storage and Saudi Arabia snaps up ships as it prepares to flood the market with crude.

Firat Kayakiran | Bloomberg News
March 16, 2020

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