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.
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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.
Another massive Takata recall looms for large batch of air bags
Bankrupt supplier Takata faces a Dec. 31 deadline to show the U.S. National Highway Traffic Safety Administration that as many as 100 million inflators containing a chemical drying agent will be safe long-term.
EBay selling StubHub to Viagogo for $4.05 billion
StubHub is the largest resale ticket marketplace in the U.S., with about $1.1 billion in net transaction revenue in 2018, according to EBay filings.
Retail mall foot traffic picks up ahead of Thanksgiving
The index measures mobile-phone location data from five of the largest U.S. shopping center real estate investment trusts, including Indianapolis-based Simon Property Group Inc.
Schwab boosts new trading accounts 31% after fees go to zero
Charles Schwab Corp.’s free trading offer is turning out to be a hit, drawing in new customers at a fast clip.
Sears to close 96 more stores, citing ‘difficult’ environment
The shutdown of 96 more Sears and Kmart locations will leave just 182 outlets for the company, which was once America’s biggest department store chain.
U.S. consumer sentiment improves for third straight month
The longest streak of sentiment gains in two years is the latest sign that low unemployment, record stock prices and Federal Reserve interest-rate cuts are brightening the outlook for consumers.
Fed expected to cut rates next week before hitting pause button
The Fed has already lowered rates twice this year, in July and September, not because officials forecast a steep downturn but because the risks of such a slump have mounted.
IRS lags on its plan to speed corporate audits
The IRS isn’t effectively auditing corporations despite a change in how the agency conducts tax examinations that was supposed to make the process more efficient, according to the agency watchdog.
A third of the world’s consumers are suddenly nervous to spend
India and China, home to 2.8 billion people, are seeing a deepening retail gloom, with makers of everything from hair oils to motorcycles feeling the effects.
WeWork debacle casts cloud over IPO market for unicorns
Software stocks that constitute the biggest part of the U.S. equity market are teetering, and recent struggles by the cohort of tech unicorns looking to go public aren’t helping.
China halts NBA broadcasts as anger mounts over Hong Kong tweet
The move is the latest backlash over a tweet by a Houston Rockets executive last week that expressed support for Hong Kong’s pro-democracy protesters.
Startups with female founders raise more venture cash, study says
In earlier rounds, mixed-gender teams do just as well as those without women, but the advantage grows in the later stages of fundraising, the study found.
U.S. manufacturing sector falls into deeper recession
September marked the worst month for U.S. manufacturing in more than a decade—since June 2009—according to the closely watched Institute for Supply Management’s Manufacturing Index.
Buttigieg pitches himself to moderates as the Biden alternative
Despite raising a staggering $51 million for his presidential campaign in 2019, South Bend Mayor Pete Buttigieg has been stuck in fourth place, between 5% and 7% in national polls. Part of that is because he’s hard to define.