National Business News

U.S. jobless claims fall below 1 million but remain high The number of laid-off workers applying for unemployment aid fell below 1 million last week for the first time since the viral pandemic intensified five months ... by The Associated Press - August 13, 2020

Inflation tops July's forecast as apparel, vehicle prices climb U.S. consumer prices rose in July by more than expected on a jump in auto and apparel costs, though inflation remained broadly muted after the pandemic suppress... by Compiled by Democrat-Gazette staff from wire reports - August 13, 2020

Aviation firms double-dip in U.S. aid At least 202 aviation companies double-dipped into federal programs designed to prop up struggling businesses during the coronavirus pandemic, according to a Wa... by IAN DUNCAN AND LORI ARATANI THE WASHINGTON POST - August 13, 2020

App bans loom over trade talks U.S. and Chinese negotiators plan to discuss progress of their trade deal in the coming days, with Beijing pushing to widen the agenda to include Washington's r... by Bloomberg News - August 13, 2020

Another retailer shutting its doors The discount department store chain Stein Mart filed for bankruptcy on Wednesday after 112 years in business, announcing that it will close most, if not all, of... by TAMARA LUSH THE ASSOCIATED PRESS - August 13, 2020

New-business filings jump in pandemic Whether out of necessity or a fondness for working in one's pajama bottoms, Americans are filing paperwork to become their own bosses at a clip one economist ca... by MICHAEL SASSO BLOOMBERG NEWS - August 13, 2020

N.Y. sues egg producer accused of price-gouging One of the nation's largest egg producers has been accused by New York authorities of raking in $4 million in illegal revenue by gouging customers with exorbita... by WILL WRIGHT THE NEW YORK TIMES - August 13, 2020

Rallying markets lift S&P to pre-pandemic high Stocks marched broadly higher on Wall Street Wednesday, briefly nudging the S&P 500 above its all-time closing high set in February, before the coronavirus pand... by STAN CHOE AND ALEX VEIGA THE ASSOCIATED PRESS - August 13, 2020

Retail chains leaving Manhattan For years, Bryant Park Grill & Cafe in midtown Manhattan has been one of the country's top-grossing restaurants, the star property in Ark Restaurants' portfolio... by MATTHEW HAAG AND PATRICK MCGEEHAN THE NEW YORK TIMES - August 13, 2020

Suitors to pay $325M for Brooks Brothers Brooks Brothers, the venerable retailer that was founded in 1818 and filed for bankruptcy last month, said that it would be sold to Simon Property Group, the bi... by SAPNA MAHESHWARI THE NEW YORK TIMES - August 13, 2020

Publishing firm closing 5 of chain's newsrooms Tribune Publishing Co., which owns some of the most storied newspapers in American journalism, said Wednesday that it is closing the newsrooms at five of them, ... by MARY ESCH THE ASSOCIATED PRESS - August 13, 2020

Earnings report Companies reporting quarterly earnings Wednesday included: August 13, 2020

Stocks rebound on Wall Street, S&P 500 trades above record The S&P 500 briefly traded above its record closing high Wednesday, nearly erasing the last of the historic losses it took due to the coronavirus pandemic. by The Associated Press - August 12, 2020

Stein Mart files for bankruptcy; to close nearly 300 stores National discount department store chain Stein Mart filed for bankruptcy on Wednesday after 112 years in business, and announced that it will close most, if not... by The Associated Press - August 12, 2020

U.S. puts brake on world's recovery FRANKFURT, Germany -- People in China are back to buying German luxury cars. Europe's assembly lines are accelerating. Now the global economy is waiting for the... by DAVID MCHUGH, PAUL WISEMAN AND JOE MCDONALD THE ASSOCIATED PRESS - August 12, 2020