Economy

Rep. Buck: Actual national debt is $30 trillion, 'There's no conversation' in D.C. about repaying it

'This troubles me greatly, but all I see is more spending' with 'no conversation in Washington D.C. about how to pay this money back,’ Rep. B

1.2M jobless claims filed last week, marking 20 straight weeks of more than a million

The number of new applications for unemployment benefits last week was 1.2 million.

Disney Theme Parks Report $3.5B in Losses Due to Coronavirus Pandemic

Walt Disney Co. reported that its net income plummeted dramatically in the three-month period.

Netflix shares sink as company sees growth slowing after coronavirus-driven subscriber surge

Shares in Netflix fell sharply on Friday after the streaming giant reported lower-than-expected second quarter revenue and meager expectation

Retail sales increased 7.5% in June, beating economists' expectations

Retail sales increased 7.5% in June, the U.S. Census Bureau reported on Thursday.

Jobless claims fall, even as states reimpose restrictions

Initial jobless claims continued to fall last week, even as a slew of states hard-hit with COVID-19 reintroduced restrictions.

Uber Thins Out the Competition by Buying Delivery Service Postmates

Ridesharing giant Uber is reportedly set to purchase the fourth-largest food delivery service, Postmates, for $2.65 billion in stock.

Private Payrolls Estimated To Rise by 2.37 Million in June, May Revised Up By 5.2 Million

U.S. private payrolls increased by 2.369 million in June, the ADP National Employment Report showed on Wednesday.

Weekly Jobless Claims Remain Stubbornly High at 1.48 Million

Nearly one and a half million Americans lost their jobs last week.

Oil demand to make record recovery in 2021 after historic fall

Global oil demand is on pace to fall by a record amount this year due to the pandemic, but will rebound to its largest increase ever in 2021.

New York Manufacturing Business Optimism Hits Highest Level in a Decade

The New York Fed’s Empire State Manufacturing Survey showed its general condition index rose a sharp 48 points to negative 0.2 in June.

Mnuchin: White House seriously considering second round of stimulus checks

Treasury Secretary Steven Mnuchin has signaled that the Trump administration is considering another round of stimulus checks as many American

Producer Prices Rose 0.4% in May, Led by Food and Energy

U.S. wholesale prices rose 0.4 percent in May, led by gains in the cost of food and energy.

Uber Eats waives fees for black-owned restaurants

Uber announced last week that it would help customers support black-owned businesses and restaurants through its app.

Fed predicts unemployment will fall to 9.3 percent by end of 2020

Federal Reserve officials expect the unemployment rate to remain above 9 percent until the end of 2020.

BP To Slash 10,000 Jobs As Coronavirus Creates Slump In Energy Markets

Oil and gas giant BP announced Monday that it will cut 10,000 jobs from its global workforce.

Unemployment Falls to 13.3% and Economy Adds 2.5 Million Jobs

The unemployment rate fell to 13.3 percent and payrolls unexpectedly rose by 2.5 million workers as the easing of restrictions on business ac

Dow Rises More Than 500 Points, Nasdaq Nears Record High

The Dow Jones Industrial Average rose 527 points, or 2.05 percent. The S&P 500 moved up 1.36 percent, its fourth day of gains. The tech-heavy

Initial jobless claims drop to 1.9 million

Initial unemployment claims for the last week of May fell to 1.9 million, from peak of 6.9 million.

U.S. Businesses Estimated to Have Shed 2.7 Million Jobs in May, Far Fewer Than Expected

Businesses in the United States shrank their payrolls by 2.76 million, according to a report Wednesday from ADP and Moody’s Analytics.