Pandemic claims yet another retailer: J.C. Penney

Pandemic claims yet another retailer: J.C. Penney

NEW YORK (AP) — The coronavirus pandemic has pushed troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate.As part of its reorganization, the 118-year-old company said late Friday it will be closing...
Economy in crisis: more virus aid or wait and see?

Economy in crisis: more virus aid or wait and see?

WASHINGTON (AP) — The unparalleled speed of the collapse of the U.S. economy, forcing more than 36 million Americans out of work, has left an all-too-common political divide, with many Republicans seeing reasons to believe the worst is over while Democrats call for...
Retailers face reckoning as April’s sales drop sets a record

Retailers face reckoning as April’s sales drop sets a record

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to national and global response, the work place and the spread of the virus.________________________TEUTONIC SHIFT: Germany —...
US adds new sanction on Chinese tech giant Huawei

US adds new sanction on Chinese tech giant Huawei

BOSTON (AP) — The U.S. government imposed new restrictions on Chinese tech giant Huawei on Friday, severely limiting its ability to use American technology to design and manufacture semiconductors produced for it abroad.Commerce Secretary Wilbur Ross said Friday that...
Surf’s up and so are new beach rules to prevent virus spread

Surf’s up and so are new beach rules to prevent virus spread

SANTA MONICA, Calif. (AP) — They arrived at the beach by car, skateboard and on bare feet. They carried Frisbees, cameras and surfboards. They wore running shorts, yoga pants and wetsuits. Many wore masks. That was the starkest difference this week apart from a moment...
Industrial production plunges unprecedented 11.2% in April

Industrial production plunges unprecedented 11.2% in April

WASHINGTON (AP) — American industry suffered the most severe plunge on record last month with factories, mines and utilities battered by the coronavirus pandemic.The Federal Reserve said Friday that its industrial production index tumbled a record 11.2% in April....