Business

FILE - In this March 31, 2020 file photo, a woman pulls groceries from a cart to her vehicle outside of a Walmart store in Pearl, Miss. Walmart became a lifeline to millions of people as the coronavirus spread, and its profit and sales surged during the first quarter, topping almost all expectations. (AP Photo/Julio Cortez, File)
Associated Press
May 19, 2020 - 1:45 pm

Walmart Becomes A Lifeline, Online Sales Surge 74%

NEW YORK (AP) — Walmart emerged as one of the few lifelines to millions of people as the coronavirus spread, leading to surging profit and sales for the world's largest retailer. Online sales in the U.S. jumped 74% for its fiscal first quarter that ended April 30, which captured the brunt of the...
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A construction crew loads dirt on a building site, Monday, May 18, 2020 in East Greenwich, N.J. (AP Photo/Matt Slocum)
Associated Press
May 19, 2020 - 6:30 am

US Home Construction Drops 30.2% In April As Virus Rages

WASHINGTON (AP) — U.S. home building plunged in April to the lowest level in five years, taken down by the economic fallout from the coronavirus pandemic. The Commerce Department said Tuesday that ground breakings plummeted 30.2% last month to a seasonally adjusted annual rate of 891,000. That is...
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Associated Press
May 17, 2020 - 10:35 am

Average US Gas Price Up 5 Cents Over 3 Weeks To $1.97

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline rose a nickel over the past three weeks, to $1.97 per gallon. Industry analyst Trilby Lundberg of the Lundberg Survey says Sunday that the slight jump comes after prices at the pump crashed for nine weeks straight during the...
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A woman looks at signs at a store closed due to COVID-19 in Niles, Ill., Wednesday, May 13, 2020. (AP Photo/Nam Y. Huh)
Associated Press
May 14, 2020 - 2:04 pm

36 Million Have Sought US Unemployment Aid Since Virus Hit

WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak forced more companies to slash jobs even though most states have begun to let some businesses reopen. Roughly 36 million people have now sought jobless aid in just the two...
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This photo shows vehicles in the parking lot of the Tesla electric car plant Wednesday, May 13, 2020, in Fremont, Calif. The Alameda County Public Health Department announced on Twitter late Tuesday that the Fremont, California, plant will be able to go beyond basic operations this week and start making vehicles Monday, as long as it delivers on worker safety precautions that it agreed to. (AP Photo/Ben Margot)
Associated Press
May 13, 2020 - 2:25 pm

Dispute Over Reopening California Tesla Factory May Be Over

DETROIT (AP) — It appears the dispute between Tesla and San Francisco Bay Area authorities over the reopening of a factory in the face of shutdown orders appears to have ended. The Alameda County Public Health Department announced on Twitter late Tuesday that the Fremont, California, plant will be...
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Angie Moorefield unfolds material to begin sewing a disposable gown at Burlington Medical in Newport News Wednesday, May 6, 2020. The manufacturing business recently shifted from producing radiation protection gear for medical facilities to in-demand personal protective equipment such as masks, gowns and plastic face shields. (Jonathon Gruenke/The Virginian-Pilot via AP)
Associated Press
May 13, 2020 - 6:31 am

US Wholesale Prices Drop Record 1.3% In April

WASHINGTON (AP) — Wholesale prices slid a record 1.3% in April led by a 19% plunge in the cost of energy, further signaling the potential threat of deflation in the United States. The Labor Department said Wednesday that its producer price index, which measures inflation before it reaches the...
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Vehicles are seen parked at the Tesla car plant Monday, May 11, 2020, in Fremont, Calif. The parking lot was nearly full at Tesla's California electric car factory Monday, an indication that the company could be resuming production in defiance of an order from county health authorities. (AP Photo/Ben Margot)
Associated Press
May 12, 2020 - 8:23 am

Elon Musk Becomes Champion Of Defying Virus Stay-Home Orders

Tesla CEO Elon Musk has emerged as a champion of defying stay-home orders intended to stop the coronavirus from spreading, picking up support — as well as critics — on social media. Among the supporters was President Donald Trump, who on Tuesday morning tweeted that Tesla's San Francisco Bay Area...
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FILE - In this March 9, 2020, file photo, Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. Musk is threatening to pull the company’s factory and headquarters out of California in an escalating spat with local officials over reopening an electric vehicle plant. On Twitter Saturday afternoon, May 9, 2020. Musk also threatened to sue over Health Department coronavirus restrictions that have stopped Tesla from restarting production at its factory in Fremont south of San Francisco. (AP Photo/Susan Walsh, File)
Associated Press
May 11, 2020 - 7:09 am

Musk Threatens To Exit California For Nevada Over Virus Restrictions

Tesla CEO Elon Musk threatened Saturday to pull the company’s factory and headquarters out of California and sued local officials who have stopped the company from reopening its electric vehicle factory. In a lawsuit filed in federal court, Tesla accused the Alameda County Health Department of...
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FILE - In this May 7, 2020, file photo, a pedestrian walks by The Framing Gallery, closed due to the COVID-19 pandemic, in Grosse Pointe, Mich. The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. (AP Photo/Paul Sancya, File)
Associated Press
May 08, 2020 - 9:06 am

Jobless Rate Spikes To 14.7%, Highest Since Great Depression

WASHINGTON (AP) — The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. The losses, reported by...
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FILE - In this Nov. 15, 2019, file photo an Uber office is seen in Secaucus, N.J. Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic. (AP Photo/Seth Wenig, File)
Associated Press
May 07, 2020 - 4:53 pm

Uber Loses $2.9 Billion, Offloads Bike And Scooter Business

NEW YORK (AP) — Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic, but the company is looking to its growing food delivery business and aggressive cost-cutting to ease the pain. The ride-hailing giant said Thursday it is offloading...
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