Coronavirus
US Autoworkers Return, While Possible Vaccine Shows Promise
More than 130,000 autoworkers returned to factories across the U.S. for the first time in nearly two months May 18 in one of the biggest steps yet to restart American industry, while an experimental vaccine against the coronavirus yielded encouraging results in a small and extremely early test.
May 18, 2020Tesla Reopens California Plant, Says It Has Alameda County’s Approval
Tesla Inc. told employees that a California county health official has now signed off on safety measures the company took last week at its car plant as it restarted production in defiance of the area’s shutdown order.
Uber Cuts 3,000 More Jobs, Closes Offices Amid Pandemic Revamp
Uber Technologies Inc. eliminated an additional 3,000 jobs May 18, is closing dozens of offices worldwide and is shutting down many side projects in an effort to weather the coronavirus pandemic that has devastated the ride-hailing business.
Chinese Oil Demand Is Almost Back to Pre-Virus Crisis Levels
Chinese oil demand is all but back to levels last seen before Beijing imposed a national lockdown to fight the coronavirus outbreak, according to people with inside knowledge of the country’s energy industry.
May 18, 2020Stocks Rise With Weak Data Set Aside; Oil Jumps
U.S. stocks rose as traders looked past trade jitters and weak economic data. Treasuries fell. Oil jumped.
Slump at US Ports Continues in April
The slump at the nation’s ports continued in April as 20-foot-equivalent container (TEU) volumes were down, in some cases by double digits when compared with 2019.
Daimler Halts SUV Production at US Plant Over Mexico Parts Delays
Daimler AG is suspending production at a Mercedes-Benz SUV plant that was one of the first in the U.S. to reopen due to a shortage of parts supplied from Mexico.
Autoworkers’ Tenuous Return a Ray of Hope in Jobs Crisis
Defying a wave of layoffs that has sent the U.S. job market into its worst catastrophe on record, at least one major industry is making a comeback: Tens of thousands of autoworkers are returning to factories that have been shuttered since mid-March due to fears of spreading the coronavirus.
Oil Trades Near Six-Week High on Supply Cuts, Demand Recovery
Oil was near the highest in six weeks as major producers slash supply, and there are increasing signs that demand is recovering.
US Economy Hits Record Lows in April Retail, Factory Data
U.S. retail sales and factory output registered the steepest declines on record in April, illustrating a recession so deep that it likely will take years to fully recover.