Thursday, May 28, 2020

Uber plans off another 3,000 workers, just reported CEO was paid a total of...

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These layoffs come just weeks after Uber laid off 3,700 employees in order to save about $1 billion in costs. Since the pandemic hit, Uber has laid off about 25% of its workforce.

J.C. Penney offers top execs million-dollar bonuses with most stores closed due to virus,...

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The close to 120-year-old company is one of many retailers that was forced to temporarily close its stores as the Wuhan virus spread across the U.S. That has reportedly put J.C. Penney a step...

Initial jobless claims in state programs totaled 2.98 million in the week ended May...

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Economists projected: 2.5 million, based on the median estimate. Unemployment filings have eased for a sixth straight week.

Nancy Pelosi unveils new $3 trillion Wuhan virus aid package for Friday vote

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Senate Republican leaders warned Pelosi that the new bill is dead on arrival even before it was formally unveiled."That will not pass. It's not going to be supported," said Sen. John Barrasso,...

Colorado shuts down restaurant after video shows big crowd inside, the restaurant defies order...

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The state of Colorado is in a stay-at-home order until May 27 while restaurants are only allowed to serve curbside or delivery. Despite an order to close, owner...

California Democrat reacts to Tesla lawsuit, pullout plan over Wuhan virus rules: ‘F-ck Elon...

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The company also is suing Alameda County in California: “Alameda County’s power grab not only defies the governor’s orders but offends the federal and California constitution. The unelected & ignorant ‘Interim Health...

U.S. jobless rate triples to 14.7%, highest since the Great Depression

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Economists surveyed by Refinitiv expected the report to show that unemployment rose to 16 percent in April and that employers shed 21.8 million jobs, essentially erasing all job gains in the past decade.

3.2 million more Americans filed for unemployment last week

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But last week also marked the fifth week in a row that the number of initial claims fell. It peaked at 6.9 million in the last week of March. Economists say the...

Stocks extend rally as Dow up 400 points on hopes of economy reopening, oil...

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Oil prices climbed 18.3% on hope the economy has bottomed. It was the fifth-straight day of gains for crude, a market that has been in turmoil with prices turning negative at one...

Maine restaurant loses health and liquor licenses after defying state Wuhan virus orders

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What happened on Friday: Rick Savage did indeed open and was packed for business. More than 150 people had lined up to eat at the restaurant by mid-afternoon Friday as the eatery...