Business News

Early coronavirus job losses hitting minorities, women, teens particularly hard

Early coronavirus job losses hitting minorities, women, teens particularly hard

As the economy continues to hemorrhage jobs, it’s becoming apparent that some groups are more at risk of unemployment than others. Minority workers, teens and, in many cases, women, are losing jobs at a higher pace than other groups. “There’s no doubt about it, they’re getting hit worse,” said Dean Baker, senior economist at the…

Here’s what America’s oil CEOs discussed with Trump

Here’s what America’s oil CEOs discussed with Trump

America’s leading oil CEOs urged President Donald Trump on Friday to grant the embattled industry access to government programs aimed at helping companies harmed by the coronavirus pandemic. Trump was “very receptive” to that request and did not discuss government-mandated oil production cuts during the meeting at the White House, American Petroleum Institute CEO Mike…

Delta CEO: ‘We still haven’t seen the bottom’

Delta CEO: ‘We still haven’t seen the bottom’

Delta Air Lines expects revenue over the next three months to be down 90%, with no end of the industry’s troubles in sight. “Even as Delta is burning more than $60 million in cash every day, we know we still haven’t seen the bottom,” said CEO Ed Bastian warned employees that Friday. He said April’s…

Photojournalists are risking their lives to capture the pandemic

Photojournalists are risking their lives to capture the pandemic

In a video shot from her hospital bed where she is recovering from Covid-19, Austin American-Statesman photojournalist Lola Gomez described the predicament that photographers like herself face as they cover the pandemic. “Even though the reporters are working from home, photographers can’t work from home,” Gomez said in the video posted to Facebook on April…

Here’s when Disney’s delayed movies are coming to theaters

Here’s when Disney’s delayed movies are coming to theaters

Disney on Friday announced new release dates for films that were delayed because of coronavirus, including two of its biggest movies this year, “Mulan” and Marvel Studios’ “Black Widow.” “Mulan,” which was set to debut in March, will now hit theaters on July 24, the company said. “Black Widow,” which was going to open the…

CNN’s Brooke Baldwin tests positive for coronavirus

CNN’s Brooke Baldwin tests positive for coronavirus

CNN anchor Brooke Baldwin announced on Friday that she tested positive for coronavirus after experiencing symptoms a day earlier. “I am OKAY,” Baldwin said in an Instagram post announcing her diagnosis. “It came on suddenly yesterday afternoon. Chills, aches, fever.” Baldwin became the second CNN anchor to test positive for the virus. Chris Cuomo tested…

Trump’s incredible 180 on OPEC, oil and free markets

Trump’s incredible 180 on OPEC, oil and free markets

President Donald Trump has long cast OPEC as an evil force ripping Americans off by not pumping enough oil. Now he’s pleading with Saudi Arabia and Russia to stop pumping so much oil. In the past, Trump has called OPEC a “monopoly” (it’s not) that must be broken up. “They are robbing our country blind,”…

3M: We’ll make more N95 masks for the US but we need to keep exporting them

3M: We’ll make more N95 masks for the US but we need to keep exporting them

3M, the world’s largest maker of respirator masks, said Friday it is willing to comply with President Trump’s order to manufacture and supply more critically needed N95 masks for the United States. But 3M cautioned about being forced to halt exports of those masks to other parts of the world. A day after Trump invoked…

No more self-serve soda and hot dog rollers: Coronavirus upends convenience stores

No more self-serve soda and hot dog rollers: Coronavirus upends convenience stores

The coronavirus outbreak is threatening America’s vast convenience store industry as consumers fill up at the pump less frequently and companies pull self-serve soda machines and hot dog rollers. There are upward of 150,000 convenience stores in the United States, more than all of America’s grocery stores, drug stores and dollar stores combined. The convenience…

Stores are hiring like crazy. But they have part-time workers who want more hours

Stores are hiring like crazy. But they have part-time workers who want more hours

Large retail and grocery chains staying open during the coronavirus crisis are on hiring sprees. But some of the companies’ existing part-time employees who want more work are concerned that the plans will make it harder for them to get ahead. Walmart is adding 150,000 workers through the end of May at stores and warehouses…

Corona beer stops production

Corona beer stops production

Production of Corona beer is being temporarily suspended in Mexico because of the coronavirus pandemic. Grupo Modelo, the company that makes the beer, posted the announcement on Twitter, stating that it’s halting production and marketing of its beer because the Mexican government has shuttered non-essential businesses. The Anheuser-Busch Inbev-owned company also makes Modelo and Pacifico…

The US economy lost 701,000 jobs in March — worst report since 2009

The US economy lost 701,000 jobs in March — worst report since 2009

The American economy lost more jobs than it gained for the first time in a decade. In March, the economy shed 701,000 jobs, according to the Bureau of Labor Statistics. It was the first time the economy lost jobs in a month since September 2010, and the worst month for American jobs since the depths…

Hotel industry says it will struggle to get by even with government help

Hotel industry says it will struggle to get by even with government help

Less than a month ago, Mitch Patel’s hotel business was booming. His company, Vision Hospitality Group, owns 37 hotels in six states and it had seen record business in January and February, according to Patel. Things were going so well, he was planning to open two more hotels this year, and seven next year. But…

Coronavirus may be upending the rules of the global oil game

Coronavirus may be upending the rules of the global oil game

President Donald Trump set off a record spike for US crude futures on Thursday with a tweet saying he expected Russia and Saudi Arabia to cut production by as much as 15 million barrels per day. US oil prices soared before closing with a record single-day record gain of 25%. Why such enthusiasm? Russia and…

Get ready for wartime levels of national debt and tough choices ahead

Get ready for wartime levels of national debt and tough choices ahead

Governments are launching one rescue package after another in hopes of preventing economic catastrophe as the coronavirus pandemic rampages around the world, shutting down entire industries and costing tens of million of people their jobs. In most countries, political opposition to spending increases funded by borrowing has vanished in the face of a potential global…

Oil prices march higher as OPEC calls for emergency meeting on Monday

Oil prices march higher as OPEC calls for emergency meeting on Monday

OPEC will meet on Monday with Russia and other oil producers in the hope of agreeing supply cuts and ending a brutal price war. The meeting, called by Saudi Arabia, will be held via video conference and will include oil producers from outside the OPEC+ alliance that includes Russia and a few other countries, two…

Chris Cuomo shares covid-19 experience: ‘The beast comes at night’

Chris Cuomo shares covid-19 experience: ‘The beast comes at night’

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. CNN’s Chris Cuomo has become the most visible face of the coronavirus in the United States by giving daily updates about his condition on TV, social media and, on Thursday, at his brother’s New York…