Abbott launching 5-minute COVID-19 test for use almost anywhere
The Chicago-based medical-device maker plans to supply 50,000 tests a day starting April 1.
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Struggling Americans can tap 401(k)s with coronavirus bill
Lawmakers in Washington, D.C., are making it easier for Americans struggling with the fallout from the coronavirus to draw on the trillions of dollars in their 401(k)s and other retirement accounts.
Scooter companies pull out of cities worldwide amid pandemic
The appeal of sharing a high-touch vehicle with an unknown number of strangers has succumbed to the fear of viral transmission.
Small businesses fear delays in $350 billion rescue program
Getting the $350 billion in loans for small businesses in the record U.S. stimulus package into business owners’ hands before a wave of closures will strain the nation’s network of lenders and regulators as never before.
Dow Jones industrial average sees record point gain as investors await rescue package
The 11.4% gain was the Dow’s biggest since 1933. The huge jump was a sign of investor belief that Congress has no alternative than to pass a $2 trillion rescue of a U.S. economy that is on life support.
U.S. retailers plan to stop paying rent to offset virus closures
The U.S. relief packages being considered don’t directly address rents. But the Federal Reserve’s actions may give banks the leeway to defer mortgage payments, allowing property owners to delay rent.
Automakers preparing to produce ventilators, respirators
General Motors—which hopes to make ventilators in Kokomo—and Ford Motor Co. are among automakers that are throwing their design and production prowess behind two other manufacturers’ efforts to build more ventilators and respirators for health care workers and first responders.
Stay-home decrees crush small business, erasing millions of jobs
First came the order to close up. Then the laying off of staff. Now small-business owners across the U.S. are bleeding cash and wading through paperwork to get financial assistance.
Walmart hiring 150,000, starting parking lot virus testing
While retailers such as Macy’s Inc., Kohl’s Corp. and J.C. Penney have been forced to temporarily close their stores, others like Walmart and Costco Wholesale Corp. are experiencing a surge in sales normally seen around the holiday peak.
U.S. retail sales fell in February ahead of virus impact
The report suggests consumers had already begun to scale back on spending before the number of coronavirus cases in the U.S. began accelerating.
World economy faces worst year since ’09 as virus fears grow
Just weeks since most economists bet the China-led slump would quickly reverse once the virus was contained, many are rethinking that optimism as swathes of Chinese factories stay shut and workers idled.
Bank disruptor Chime dangles hefty interest rates on deposits
Chime Inc. is part of a fast-growing class of well-funded financial technology startups offering debit cards, checking accounts and other financial services.
Vietnam buying $3 billion in U.S. farm goods to ease Trump tariff threats
The agricultural shopping spree is part of a campaign to address complaints about the trade surplus and difficulties U.S. companies face in accessing Vietnamese markets.
NCAA leaders say ‘everything is on the table’ for March Madness amid outbreak
The Indianapolis-based National Collegiate Athletic Association is examining all options for its upcoming men’s basketball tournament, including the possibility of holding games without fans, as the coronavirus continues to spread across the United States.
U.S. business gauge tumbles to lowest since 2013 on virus
Service providers and manufacturers are noting reluctance among clients to place orders amid the global virus scare.
Airlines foresee first global traffic drop since 2003
The airline industry expects the first annual decline in global passenger demand in 17 years, after tallying up the initial impact of the thousands of flights canceled because of the coronavirus outbreak in China.
GM scrambles to shield U.S. plants from virus disruption
A United Auto Workers union member said the threat of parts shortages at GM facilities is growing, but the automaker doesn’t expect to have to pause production at plants in Indiana, Michigan and Texas, according to spokesman.
Simon Property holds deal talks with Taubman, sources say
The talks come as a wave of retail bankruptcies squeeze mall-oriented real estate investment trusts, putting pressure on the industry to consolidate.
VW plots U.S. truck expansion with $2.9 billion Navistar offer
Volkswagen has offered to buy the rest of Navistar International Corp. to secure a bridgehead in the U.S. heavy-truck market and step up its challenge to Daimler and Volvo.
U.S. consumer comfort rises to 19-year high on views of economy
Confidence among Americans surged to the best level since October 2000 on brighter views of the economy and finances, adding to signs that consumers will continue to underpin a record-long expansion.