Tech shares tumbled anew on Monday, sending the Nasdaq composite index down 11% from its all-time high, as investors fled high-valuation stocks for companies whose fortunes are closely tied to the economic cycle.
The Global Business Travel Association estimates that worldwide spending on commercial travel won’t recover to its pre-pandemic peak of $1.4 trillion until 2025.
The 2.4% jump in the benchmark index Monday followed back-to-back weekly losses and came as investors were relieved to see long-term interest rates easing lower in the bond market.
U.S. hospitals face up to $122 billion in lost revenue this year as the pandemic continues its rampage, threatening to push more critical-care centers into bankruptcy or out of business entirely.
Steak ‘n Shake Inc. is accusing the investment firm of misusing confidential business information in a scheme to take control of the restaurant chain’s assets.
The reversal came after after reassuring comments from Federal Reserve Chairman Jerome Powell on inflation and the outlook for growth spurred traders to buy the dip.
Kohl’s Corp. is under pressure from a group of activists who want to name nine directors to control its board and are pressing the retailer to reduce inventory and end its “dizzying array of promotional gimmicks.”
U.S. stocks turned mixed as benchmark Treasury yields climbed to the highest levels in a year, renewing concern that rising borrowing costs and price pressures could derail the economic recovery.
Women, minorities, the young and the less educated will probably be the hardest hit by what consultant firm McKinsey & Co. foresees in a new report as an unprecedented hollowing out of low-wage work in retail, hospitality and other industries.
Airlines are getting scrappy, shifting operations to wherever there may be demand. The Cliffs Notes version: Leisure is in, business travel is out.
Elevated unemployment, limited social activity because of COVID-19 and a slow pace of vaccinations are depressing sentiment
The combo treatment is the second COVID-19 antibody therapy from the Indianapolis-based drugmaker to gain an emergency authorization from the FDA.
Salesforce.com Inc.’s December announcement that it was buying Slack Technologies Inc. for $25 billion—the largest software deal of the year—could spur other companies to revisit their wish lists, advisers said.
GlaxoSmithKline and partner Vir Biotechnology Inc. have teamed up with Indianapolis-based Eli Lilly and Co. to test a combination of their COVID-19 antibody treatments to see whether they can better combat the virus and its variants together.
Carmakers with more software and chip expertise are set to face a smoother ride, while those whose traditional strength is metal-bending are potentially more prone to supply hiccups.
The world’s largest retailer, which had already been providing inoculations to eligible people in New Mexico and Arkansas, will broaden the effort to select stores in more states.
Lilly’s announcement Thursday comes as the disease continues to hit hard in U.S. nursing homes, accounting for more than 100,000 deaths of residents and staff over the course of the pandemic.
Stocks have run out of steam since the S&P 500 set a record high a week ago amid optimism that COVID-19 vaccines and more stimulus from Washington will bring an economic recovery.
The publicly traded chain said in a statement that it expects to close “a significant portion, if not all” of its 449 physical stores. The retailer has three stores in the Indianapolis area.
Staples previously tried to buy Office Depot, but the $6.3 billion acquisition was called off in 2016 amid antitrust scrutiny.
