Deep divisions within the European Union are hampering efforts to tackle the economic fallout of the coronavirus pandemic. The European Union made two attempts this week at agreeing to a coordinated strategy to support member states most affected by the outbreak, such as Italy and Spain. Finance ministers from countries that use the euro currency…… MORE
The $2 trillion coronavirus stimulus bill passed by the Senate provides aid for average consumers and small businesses — but there’s also a lucrative tax break for wealthy real estate developers. That’s because the stimulus bill removes limits on the amount of losses that wealthy investors can use to offset taxes, by writing down the…… MORE
Hundreds of millions of people around the world have been told to stay home to combat the coronavirus pandemic, driving huge demand for online shopping and food deliveries. Yet many companies including Net-a-Porter and Next are struggling to keep their online operations afloat as the continued spread of the novel coronavirus makes it harder for…… MORE
US automakers have come to the rescue when the nation has faced supply shortages during wartime in the past. Ford built heavy bomber airplanes and GM built amphibious assault craft, among other things. So it seems only natural that, in the rush to address the critical shortage of ventilators in the US due to the…… MORE
Along with toilet paper, hand sanitizer and groceries, shoppers are stockpiling food and toys for their pets during the coronavirus crisis. Dog food sales spiked 54% and cat food sales increased 52% for the week ending last Saturday compared with the same period last year, according to Nielsen’s most recent data. Sales of pet supplies…… MORE
Every restaurant and pub in the United Kingdom has been ordered to close as the country seeks to limit the spread of the novel coronavirus. On the outskirts of Birmingham, one award-winning restaurant is riding out the crisis by assisting people in need and accepting help from German supermarket chain Aldi. Hampton Manor, which includes…… MORE
Enthusiasm over record amounts of stimulus from governments and central banks has resulted in a three-day rally for US stocks, pushing the Dow Jones Industrial Average into a new bull market. You read that correctly: The Dow has rallied more than 20% from recent lows, technically ending the bear market it entered on March 11.…… MORE
On a typical Saturday night at 2 am, thousands of people are dancing inside the Brooklyn nightclub Elsewhere — all while scores of bartenders, barbacks, bouncers, cleaners, lighting and sound designers are working to keep it running. But last Saturday night, and for the next unknown number of Saturday nights, Elsewhere was empty. The club’s…… MORE
Quibi, a mobile-only, short-form video service that launches next month, has pitched itself as “on-the-go viewing, from seven in the morning to seven at night,” as CEO Meg Whitman described it a few months ago. However, many of its potential subscribers are no longer on-the-go, because they’re stuck at home during the coronavirus pandemic. Although…… MORE
Global stocks failed to maintain their momentum Friday, indicating that a spectacular three-day rally that pushed the Dow Jones Industrial Average out of a bear market could be losing steam. European shares fell in early trading as enthusiasm waned over the trillions of dollars in stimulus measures announced by governments and central banks to fight…… MORE
