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US jobless claims below 1 million for first time in pandemic

Business / Business News /

The number of Americans applying for unemployment benefits fell below 1 million for the first time since the pandemic began in March, suggesting the economic recovery is gaining some traction amid a deceleration in coronavirus infections.

Initial jobless claims in regular state programs fell by 228,000 to 963,000 in the week ended Aug. 8, Labor...Read more

Mies van der Rohe's workhorse tower gets a vibrant remake as a dorm at Chicago's Illinois Institute of Technology

Business / Business News /

CHICAGO -- The pandemic. The unrest that followed the killing of George Floyd. Rampant looting in downtown Chicago. Against that chaotic backdrop, it was moving earlier this week to experience the profound calm that characterizes the architecture of master modernist Ludwig Mies van der Rohe.

On the first floor of a newly renovated building at ...Read more

A revamped PPP coronavirus loan program is in the works. Will it help small businesses left out before?

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WASHINGTON -- The Paycheck Protection Program stood out as an early success of the government's pandemic relief effort, but it ended with a whimper and left billions of dollars unallocated when small businesses got spooked by the ever-changing rules.

Even as Democrats and Republicans fight over other aspects of another major stimulus bill, they...Read more

Hotels, airlines and sports venues turn to Clorox and Lysol to vouch for their cleanliness

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If you jump on a United Airlines flight, you are likely to see the Clorox logo on signs and posters as you board.

Check into a Marriott or Hyatt hotel and expect to see stickers emblazoned with the name of the Global Biorisk Advisory Council, an arm of the world's cleaning-products industry trade group.

Customers of Delta Air Lines, Avis car ...Read more

Post-riot landscape of rubble persists as Minneapolis demands taxes in exchange for permits

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MINNEAPOLIS -- On a desolate lot in Minneapolis where Don Blyly's bookstore stood before being destroyed in the May riots, two men finish their cigarettes and then walk through a dangerous landscape filled with slippery debris and sharp objects. The city won't let Blyly haul away his wreckage without a permit, and he can't get a contractor to ...Read more

Beach home sales at the Jersey Shore are surging during the coronavirus outbreak

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For some employees given the option of working from home during the coronavirus pandemic, the workplace expanded from the city office to the beachfront condominium.

A picturesque scenario. If a Shore house is even available.

Sales are so strong that buyers should "make a very, very strong offer and don't hesitate. Don't wait three weeks to ...Read more

News Analysis: Uber and Lyft might halt California operations over a labor fight. That may help them in November

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Uber and Lyft warned they might temporarily shut down their services in California in response to a court ruling forcing them to start treating drivers in the state as employees.

A brief closure might seem like a drastic move, but it's not exactly surprising. In fact, such a shutdown could prove to be a means for Uber and Lyft to appeal to ...Read more

REI to sell its never-used Bellevue headquarters and shift office work to multiple Seattle-area sites

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SEATTLE -- In yet another sign of COVID-19's disruptive impact on business, REI is abandoning its nearly completed corporate campus in Bellevue, Wash., and spreading headquarters operations to multiple sites across the Seattle area.

The outdoor retailer said it is in talks with "multiple interested parties" to sell the never-used 400,000-square...Read more

Michael Hiltzik: Uber is threatening to suspend service in California. We should call its bluff

Business / Business News /

The ride-hailing service Uber seems determined to rewrite the dictionary definition of "bully" to read: "Uber."

That's the obvious conclusion to draw from its threat, made publicly by Chief Executive Dara Khosrowshahi and in state court by its lawyers on Wednesday, to shut down its operations in California for at least a few months and possibly...Read more

Carla Fried: 3 essential financial moves in your 20s

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If you're the type of 20-something who wants to take a deep dive into personal finance, God bless. There are plenty of great websites and books to immerse yourself in. But if that is so not you, no worries. You can build a fantastic foundation for financial success by focusing on just three key goals.

-- Pay your bills on time. Sounds obvious, ...Read more

Carla Fried: 3 essential financial moves in your 30s and 40s

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In your 30s and 40s making smart money decisions requires deft juggling skills. These are typically years when your income is growing as you enter your career sweet spot. At the same time, you may be settling into family life with a partner and kids, developments that can pull you in a gazillion expensive directions.

How you deploy your growing...Read more

Carla Fried: 3 essential financial moves in your 50s and 60s

Business / Business News /

With the finish line near in the insane race known as retirement planning, your focus may be on stuffing your 401(k) and IRA with more money. Nothing wrong with that. Just add these three moves to avoid costly mistakes.

--Stress-test your assumptions. Start with your retirement portfolio. By now you've taken a few spins through a retirement ...Read more

Michael Hiltzik: The COVID-19 pandemic shows that it's time for a new New Deal. Here's a blueprint

Business / Business News /

No one who follows economic affairs could miss the signals that the U.S. economy has long been built on a foundation of quicksand.

Income and wealth inequality has been soaring, as rank-and-file workers have lost the power to organize for workplace rights and corporations increasingly have funneled profits to shareholders.

The biggest ...Read more

Lowe's ramps up faster home delivery nationwide with more distribution centers

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Lowe's is expanding for faster home delivery nationwide.

Over the next 18 months, the North Carolina-based home improvement company will open 50 delivery terminals, seven distribution centers and four e-commerce fulfillment centers, Lowe's announced Wednesday.

The goal is to enable faster e-commerce shipping with more same-day and next-day ...Read more

Pay promises, threats of jail. How Bahamas Paradise Cruise Line made crew work without wages

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MIAMI -- As crew members started to make it safely off of Bahamas Paradise Cruise Line's Grand Celebration ship in mid-April, stories about life on board surfaced on social media.

Facebook and Instagram comments described how the company stopped paying working crew on board after it canceled passenger cruises on March 14 amid the COVID-19 ...Read more

College Football shutdown puts $1.2 billion in TV ads at risk

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The decisions by the Big Ten and Pac-12 college athletic conferences to postpone their football season endanger a huge chunk of sales for media companies such as Walt Disney Co. and Fox Corp.

College football alone generated almost $1.2 billion in ad revenue for U.S. television networks last year. Its collapse could also hasten the loss of ...Read more

WeChat is a lifeline for the Chinese diaspora. What happens now that Trump banned it?

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Cindy Wang's whole life is on WeChat.

Through the Chinese everything app, the 24-year-old shops for clothing and sends photos and audio messages to her grandma and uncle in Guangzhou. It's how she schedules appointments with her hairstylist and where she found her bao supplier -- a local woman who sells the steamed buns out of her car.

For ...Read more

Amazon wins loyal Walmart shoppers as Americans stampede online

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Walmart Inc. shoppers are a pretty loyal bunch. But when virus-spooked Americans began avoiding stores earlier this year and shifting spending online, far more Walmart customers went to Amazon.com Inc. than Walmart.com. So even though Walmart, too, has thrived as an essential service amid the pandemic, Amazon is benefiting more. In the first ...Read more

Tech Q&A: File problems may not stem from Windows 10

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Q: When I bought a Windows 10 PC last year, I had all my Word files from Windows 7 transferred to the new computer. But I couldn't open those files using Word on Windows 10, and Word was unable to convert the files to a format that it could read. As a result, I had to use a program called Cool File Viewer that allowed me to open all my old ...Read more

Media mogul Sumner Redstone, whose empire included Viacom and CBS, dies at 97

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LOS ANGELES -- Sumner Redstone, the pugnacious Hollywood titan who controlled media giants Viacom and CBS Corp., died Tuesday after a lengthy illness, according to National Amusements, the Redstone family's private holding company that controls what is now ViacomCBS. He was 97.

Redstone coined the phrase "content is king," and he firmly ...Read more