Lyft To Require Drivers, Passengers To Wear Face Masks
American ridesharing company Lyft, Inc. is set to roll-out a new health safety program that will ensure that riders and drivers are protected amid the ongoing coronavirus (COVID-19) outbreak. The new health and safety standards for ridesharing will require personal health certification for drivers and riders, face masks for drivers and riders as well as new health safety education.
Neiman Marcus Files For Bankruptcy Protection
Luxury department store chain Neiman Marcus Group Ltd. LLC has filed for bankruptcy protection citing the severe impact of coronavirus or COVID-19 pandemic on its business. In a statement, Neiman Marcus Group said it has entered into a Restructuring Support Agreement or RSA with a significant majority of its creditors to undergo a financial restructuring.
J.C. Penney, Sephora Settle Dispute Over Beauty Boutiques
J.C. Penney Co. and Sephora USA Inc. agreed to resolve a legal dispute over the continued operation of in-store beauty boutiques. But they did not disclose the financial terms of the settlement.
TSX Ends Marginally Up After Volatile Session
The Canadian stock market ended marginally up on Wednesday, thanks largely to strong gains in the technology section.
Canadian Market Up Marginally At Noon; Technology Stocks Shine
Canadian shares were swinging between gains and losses Wednesday morning as investors looked for direction. Activity was largely stock specific with corporate earnings news setting the trend.
Bay Street Likely To Open Mixed
Canadian shares are likely to open on a mixed note Wednesday morning, reacting to quarterly earnings reports and tracking the commodity prices and the trend in global stock markets.
TSX Settled Modestly Higher
The Canadian stock market came off early highs in the first hour itself, and despite gradually paring gains, managed to sign off on a positive note on Tuesday thanks to a good show by information technology shares.
Canadian Shares Firmly In Positive Territory
The Canadian stock market was firmly in positive territory Monday noon after a steady start, as investors reacted to news about several countries relaxing shutdown restrictions and opening up some businesses.
Bay Street Seen Opening On Positive Note
Canadian shares are likely to open on a firm note Tuesday morning, tracking higher futures and a jump in crude oil prices.
TSX Retreats After Strong Start, Settles Flat
The Canadian stock market started off on a strong note, but kept paring gains as the session progressed, and eventually settled flat after briefly slipping into negative territory during the closing minutes.
Canadian Stocks Holding In Positive Territory At Noon
The Canadian benchmark S&P/TSX Composite Index was holding in positive territory Thursday noon with some key stocks finding solid support at higher levels.
Bay Street Seen Opening On Firm Note
Canadian shares are likely to open higher Thursday morning, tracking gains in European markets and higher futures on the back of data showing an unexpected jump in Chinese exports in the month of April.
TSX Ends Notably Higher After Volatile Session
The Canadian stock market shrugged off a volatile start and a subsequent long spell in negative territory and ended on a firm not on Monday, thanks to some spirited buying in the final hour of the session.
Canadian Shares Slightly Lower At Noon After Early Volatility
After a weak start and a subsequent rebound into positive territory, the Canadian stock market faltered and was marginally down at noon on Monday.
Bay Street Seen Opening On Negative Note
Canadian shares are likely to open lower on Monday amid renewed concerns about U.S.-China trade war, continuing worries about the impact of the coronavirus outbreak, and revenue warnings from some top U.S. companies.
TSX Extends Gains To 5th Straight Session
The Canadian stock market ended on a firm note on Friday, as investors shrugged off weak jobs data and indulged in some strong buying at several counters, reacting positively to news about several countries reopening their businesses.
Energy, Consumer Discretionary Stocks Gaining Ground In Canadian Market
The Canadian stock market got off to a bright start Friday morning and was holding firm a little past noon, riding on gains in consumer discretionary, financial and energy sections.
Bay Street Likely To See Wild Swings
Canadian shares may open higher amid slightly waning fears about a U.S.-China. However, weak economic data may render the mood cautious and prompt investors to refrain from going on a buying spree.
TSX Ends Notably Lower On Economic Worries
The Canadian stock market ended notably lower on Friday with shares from across several sectors reeling under sustained selling pressure amid concerns about the economic impact of the coronavirus pandemic.
Canadian Shares Tumble On Weak Manufacturing Data
The Canadian stock market was down sharply in negative territory at noon on Friday, as worries about the economic impact of the coronavirus pandemic triggered widespread selling once again.
Bay Street Likely To Open Lower
Canadian shares may open on a negative note Friday morning, tracking lower Canadian and U.S. futures after trade war fears resurfaced following U.S. President Donald Trump threatening new tariffs on China.
Imperial Oil Slips To Loss In Q1, Revenues Decline - Quick Facts
Imperial Oil Ltd. (IMO, IMO.TO) on Friday reported a net loss for the first quarter on lower revenues, noting that its results were impacted by COVID-19 and depressed March crude prices. The loss per share for the quarter was wider than analysts' estimates and revenues too missed their expectations.
Cameco Posts Adj. Profit In Q1, Revenues Rise - Quick Facts
Cameco Corp. (CCJ, CCO.TO), a uranium producer, on Friday reported attributable net loss for the first quarter of $19 million or $0.05 per share, compared to net loss of $18 million or $0.05 per share in the year-ago period.
Small businesses band together to sue insurers over coronavirus damage
In many cases, the response from insurers has been: We don't cover viruses.
Fraudsters are faking Washington unemployment claims amid coronavirus joblessness surge
As Washington grapples with a tsunami of legitimate unemployment claims — more than 100,000 last week — the state also is seeing a rise in attempts by fraudsters to siphon off a portion of the benefits.
IRS sets Wednesday deadline for direct deposit stimulus payments
The Internal Revenue Service said it will accept bank account information until noon Wednesday for people who want to receive stimulus payments by direct deposit. After that, the IRS will send the money by check to the address on file, with those payments expected to arrive in late May and June, according to a statement […]
Coronavirus unemployment: Bartenders, dental assistants top list of Washington’s hardest-hit jobs
About 14,800 initial unemployment claims by bartenders were filed from March 8 through April 25, which closely matches the number of people estimated to work as bartenders in Washington in the second quarter of 2020.
U.S. unemployment rate soars to 14.7%, worst since Depression era
The staggering losses are more than double what the nation experienced during the 2007-09 crisis, which used to be described as the harshest economic situation most people ever confronted.
With layoffs high but slowing, can US job market rise up?
WASHINGTON (AP) — Since its record-setting peak five weeks ago, the number of laid-off U.S. workers applying for jobless benefits, while still extraordinarily high, has steadily slowed. The trend suggests that the grimmest period of layoffs that began after businesses suddenly shut down in March has passed. Yet the economy — and tens of millions […]
Proposal to tax big businesses will be shelved by Seattle City Council during coronavirus emergency
The decision by Council President M. Lorena González and Councilmember Teresa Mosqueda will stall the big-business tax championed by Councilmembers Kshama Sawant and Tammy Morales, which already faced opposition from Mayor Jenny Durkan.
SBA slashes disaster-loan cap to $150,000 from $2 million, shuts out nearly all new applicants
After initially telling businesses that individual disaster loans could be as high as $2 million, the Small Business Administration has now imposed a $150,000 limit without publicly announcing the change, people familiar with the situation said.
Washington adds just over 100,000 unemployment claims, but layoffs might be peaking
For the week ending May 2, the state received 109,167 initial claims for unemployment insurance, down almost 22% from the prior week, according to U.S. Labor Department figures released Thursday morning.
33 million have sought US unemployment aid since virus hit
WASHINGTON (AP) — Nearly 3.2 million laid-off workers applied for unemployment benefits last week as the business shutdowns caused by the viral outbreak deepened the worst U.S. economic catastrophe in decades. Roughly 33.5 million people have now filed for jobless aid in the seven weeks since the coronavirus began forcing millions of companies to close […]
Princess Cruises and Holland America cancel remaining cruises out of Seattle
Before the coronavirus pandemic, 232 cruise ships were slated to call in Seattle in 2020. After the latest cancellations, just 71 are still scheduled.
Life in a pandemic: job cuts, Peloton sales, homemade bread
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to central governments, the work place and the spread of the virus. ________________________ JOB LOSSES: The pandemic jolted the global economy and millions of jobs have been lost. Those cuts continue daily. — A […]
Small businesses cut jobs while waiting for government loans
NEW YORK (AP) — While thousands of small businesses waited for coronavirus relief money to arrive, they were shutting down and laying off workers. Two reports issued this week shed light on the crisis that business owners have been struggling through since the coronavirus hit. On Wednesday, payroll provider ADP said its small business customers […]
ADP: More than 20 million jobs vanished in April
BALTIMORE (AP) — U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse with coronavirus outbreak closing the offices, factories, schools, construction sites and stores that propel the U.S. economy. The Wednesday report from payroll company ADP showed the tragic depth and scale of job losses that left no part of the […]
Unofficial numbers show $7 billion hit to Washington state revenue through 2023 from coronavirus downturn
In the unofficial forecast numbers, Washington would lose $3.8 billion in revenue this current budget cycle. An additional $3.27 billion would be sheared off the 2021-23 budget cycle.
Coronavirus Economy daily chart: Health sectors register most first-time unemployment claims
This series of charts provides weekly data on how the Seattle-area economy is doing during the coronavirus crisis.
Democrats Challenge Trump’s Pick to Oversee Pandemic Funds
(Bloomberg) — Senate Democrats challenged a vow of “fairness and impartiality” by Brian Miller, President Donald Trump’s nominee to oversee trillions of dollars being spent in the effort to rescue the economy from the coronavirus pandemic. “President Trump has shown outright hostility to anyone who has tried to hold him accountable to the American people,” […]
Coronavirus recession ends the golden age for tech workers | Commentary
The economic shock caused by the coronavirus is accelerating a tech-industry shift from prioritizing growth to profitability, meaning rank-and-file workers will no longer be immune to the forces confronting so many workers throughout America.
U.S. auto market glut leaves cargo ships loaded with vehicles parked at sea
For the auto industry, which saw U.S. sales plunge almost 40% in March, the crisis has left cars gathering dust on dealer lots, dealerships shuttered, auction prices slipping and tens of thousands of workers laid off or furloughed.
Many businesses may follow Amazon in stretching out work-from-home policies, crimping downtown recovery
Business and government insiders say other companies and organizations are contemplating similarly extended time frames as they consider the new realities of the workplace in the COVID-19 era.
Stocks rise on hopes that awful jobs report marks the bottom
As bad as the April jobs report was, it wasn’t quite as bad as analysts were expecting, which sent stocks and bond yields rising early Friday.
Uber loses $2.9 billion, offloads bike and scooter business
The ride-hailing giant said Thursday it is offloading Jump, its bike and scooter business, to Lime, a company in which it is investing $85 million. Jump had been losing about $60 million a quarter.
Asian shares mixed after Wall St dips on pandemic worries
TOKYO (AP) — Asian shares were mixed Thursday after a decline on Wall Street after more depressing data rolled in on the devastation sweeping the global economy. Comments by President Donald Trump on trade with China and casting blame on Beijing for the coronavirus pandemic have further dampened sentiment. Japan’s benchmark Nikkei 225 gained 0.2% […]
Unofficial numbers show $7 billion hit to Washington state revenue through 2023 from coronavirus downturn
In the unofficial forecast numbers, Washington would lose $3.8 billion in revenue this current budget cycle. An additional $3.27 billion would be sheared off the 2021-23 budget cycle.
Cash crunch from coronavirus crisis will force Alaska Air to shrink
The company's cash burn rate peaked at $400 million for the month of March. Management hopes to reduce the cash burn rate to zero by year end and will make whatever cuts are necessary to do so.
Democrats Challenge Trump’s Pick to Oversee Pandemic Funds
(Bloomberg) — Senate Democrats challenged a vow of “fairness and impartiality” by Brian Miller, President Donald Trump’s nominee to oversee trillions of dollars being spent in the effort to rescue the economy from the coronavirus pandemic. “President Trump has shown outright hostility to anyone who has tried to hold him accountable to the American people,” […]
Asian shares advance following rebound on Wall Street
BANGKOK (AP) — Shares advanced in Asia early Tuesday after Wall Street shook off a weak start and ended with modest gains thanks to another solid showing from big technology companies. Shares rose in Hong Kong, Sydney and Singapore. Markets in Shanghai and Tokyo were closed for a holiday. Wall Street shook off a weak […]