Economy

A sale sign is displayed near the entrance of a Hallmark store Tuesday, Jan. 12, 2021, in Orlando, Fla. Retail sales fell for a third straight month, as a surge in virus cases kept people away from stores and restaurants during the holiday shopping season. The report released Friday is yet another sign that the pandemic is slowing the U.S. economy. Last month, the country lost jobs for the first time since the spring.(AP Photo/John Raoux)
January 15, 2021 - 7:45 am
NEW YORK (AP) — Retail sales fell for a third straight month as a surge in virus cases kept people away from stores during the holiday shopping season. The report released Friday is yet another sign that the pandemic is slowing the U.S. economy. Last month, the country lost jobs for the first time...
Read More
A Chase ATM is open, Wednesday, Jan. 13, 2021 in New York. JPMorgan Chase & Co., the nation’s largest bank by assets, said its fourth quarter profits jumped by 42% from a year earlier, as the firm’s investment bank division had a stellar quarter and the bank’s balance sheet improved despite the pandemic. (AP Photo/Mark Lennihan)
January 15, 2021 - 7:04 am
CHARLOTTE, N.C. (AP) — JPMorgan Chase & Co., the nation's largest bank by assets, said its fourth quarter profits jumped by 42% from a year earlier, as the firm's investment banking division had a stellar quarter and its balance sheet improved despite the pandemic. The New York-based bank said...
Read More
A woman wearing a face covering walks past a shop window in London, Thursday, Jan. 14, 2021 during England's third national lockdown to curb the spread of coronavirus. (AP Photo/Kirsty Wigglesworth)
January 15, 2021 - 6:06 am
LONDON (AP) — The British economy looks set to fall back into recession after official figures on Friday showed that it shrank by 2.6% month-on-month in November, when much of the country was in a second coronavirus lockdown. The Office for National Statistics said that as a result of the fall, the...
Read More
President-elect Joe Biden speaks during an event at The Queen theater in Wilmington, Del., Friday, Jan. 8, 2021, to announce key administration posts. (AP Photo/Susan Walsh)
January 15, 2021 - 12:34 am
WASHINGTON (AP) — President-elect Joe Biden already faces the daunting task of steering a newly announced $1.9 trillion coronavirus relief bill through a closely divided Congress as the pandemic and its economic fallout grow. Now Biden will have to do it with President Donald Trump’s impeachment...
Read More
January 14, 2021 - 8:49 pm
HONG KONG (AP) — The U.S. government has blacklisted Chinese smartphone maker Xiaomi Corp. and China’s third-largest national oil company for alleged military links, heaping pressure on Beijing in President Donald Trump’s last week in office. The Department of Defense added nine companies to its...
Read More
President-elect Joe Biden speaks about the COVID-19 pandemic during an event at The Queen theater, Thursday, Jan. 14, 2021, in Wilmington, Del. (AP Photo/Matt Slocum)
January 14, 2021 - 7:54 pm
WILMINGTON, Del. (AP) — President-elect Joe Biden unveiled a $1.9 trillion coronavirus plan Thursday to end “a crisis of deep human suffering” by speeding up vaccines and pumping out financial help to those struggling with the pandemic’s prolonged economic fallout. Called the “American Rescue Plan...
Read More
President-elect Joe Biden speaks during an event at The Queen theater in Wilmington, Del., Friday, Jan. 8, 2021, to announce key administration posts. (AP Photo/Susan Walsh)
January 14, 2021 - 7:19 pm
WASHINGTON (AP) — President-elect Joe Biden already faces the daunting task of steering a newly announced $1.9 trillion coronavirus relief bill through a closely divided Congress as the pandemic and its economic fallout grow. Now Biden will have to do it with President Donald Trump’s impeachment...
Read More
Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, Wednesday, Dec. 2, 2020. (Greg Nash/Pool via AP)
January 14, 2021 - 3:49 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S. economy and stressed that any such pullback would be signaled far in advance. During an online discussion hosted by Princeton University...
Read More
FILE - This Monday, Nov. 23, 2020 file photo shows the New York Stock Exchange, right, in New York. U.S. stocks are ticking higher Thursday, Jan. 14, 2021, despite a dismal report on the number of layoffs sweeping the country. (AP Photo/Seth Wenig)
January 14, 2021 - 3:14 pm
A late slide in several Big Tech stocks left major indexes lower on Wall Street, even as small-company stocks marched to another record high. The S&P 500 turned lower in the last hour of trading to wind up with a loss of 0.4% Thursday. The benchmark index was weighed down by losses in Apple,...
Read More
The closed sign of a former restaurant is displayed at a shopping center Wednesday, Jan. 13, 2021, in Houston. The latest figures for jobless claims, issued Thursday, Jan. 14, by the Labor Department, remain at levels never seen until the virus struck. (Melissa Phillip/Houston Chronicle via AP)
January 14, 2021 - 2:18 pm
Here’s what’s happening Thursday with the coronavirus pandemic in the U.S.: THREE THINGS TO KNOW TODAY — The number of people seeking unemployment aid soared last week to 965,000, the most since late August, offering evidence that the resurgent virus has caused a spike in layoffs. The Labor...
Read More

Pages