The US is running low on coffee due to a drought in Brazil and congested shipping ports. Say goodbye to that $4 latte ... for something pricier.
Oil prices spiked in early 2021 with car usage up and Texas refineries idle. Now a giant tanker is blocking the Suez canal, an oil-market highway.
The level of small business reopening found by Kabbage is party due to a pandemic shift to digital - a third are partly or fully selling online.
A record surge in daily COVID-19 cases over the past week has put into question the sustainability of the so-called reopening trade as concerns grow over the potential for more lockdowns this winter. There is potential for daily virus cases to surge past 200,000 this week, according to Fundstrat’s Tom […]
Researchers mapped people’s movements based on mobile phone data to study the spread of the coronavirus. Restaurants, gyms, and hotels were among the riskiest spots, but reducing occupancy could help decrease the infection rate. The model also accurately predicted higher infection rates in low-income neighbourhoods due to greater movement to […]
The US Bureau of Labour Statistics on Friday said the country added 638,000 jobs in October, more than the 580,000 additions expected by economists surveyed by Bloomberg. The figure signalled a decline from the revised 672,000 job additions seen in September. The unemployment rate fell to 6.9% last month from […]
Coronavirus cases are rising across Europe, particularly among younger groups, the World Health Organisation said Monday. With many European nations reopening bars, restaurants, and schools, young people have more opportunities to socialise. But people may also be experiencing “pandemic fatigue” that encourages them to exercise riskier behaviour, according to a […]
Stocks that are closely tied to the reopening of the American economy were crushed in Friday trades after President Trump tested positive for COVID-19. The news served as a reminder to investors just how precarious the economic reopening is as Winter approaches and daily COVID-19 cases are on the rise. […]
The US Bureau of Labour Statistics on Friday said the US added 661,000 jobs in September. That came in far below the 859,000 payroll additions expected by economists surveyed by Bloomberg. The unemployment rate fell to 7.9% last month, from 8.4%. Economists expected the rate to slide to 8.2%. The […]
New York City will make its outdoor dining initiatives permanent, Mayor Bill de Blasio announced on Friday. The city’s Open Streets and Open Restaurants initiatives were initially set to end on October 31, but will now continue indefinitely. Open Streets closes down streets to make way for outdoor dining, while […]
Various metrics tracking the US economic reopening pared gains after Labour Day spending proved short-lived. The holiday weekend lifted Goldman Sachs’ reopening scale to five out of 10 last week as spending on restaurants, hotels, and travel improved. The gauge sank back to four out of 10 this week, with […]
New York is allowing indoor dining to reopen at 25% capacity, but experts say it won’t be enough to save restaurants. Most restaurants operate on razor-thin margins, and barely eke out a profit even at 100% capacity, Andrew Rigie, the executive director of the New York Hospitality Alliance, told Business […]
Bloomberg’s Consumer Comfort Index gained to 47.8 last week from 45.1, notching its biggest increase in more than 11 years. The gauge now sits 13.1 points from its March trough, but remains 19.5 points from its January highs. Though reopenings have slowly driven the index higher, gauges for richer and […]
New York City will lift its ban on indoor dining, Governor Andrew Cuomo announced on Wednesday. Restaurants will be allowed to reopen dining rooms at 25% capacity starting September 30. This comes soon after over 300 restaurant owners filed a class-action lawsuit against Governor Cuomo and NYC Mayor Bill De […]
Goldman Sachs’ US reopening scale improved to five out of 10 last week, marking a halfway point in the nation’s economic recovery. The jump followed progress made in the hotel, movie theatre, and retail industries over Labour Day weekend, Goldman economists said. The bank’s reopening index gained to 72 from […]
The US economy added 1.37 million jobs in August, and the unemployment rate declined to 8.4%, the Labour Department reported Friday. While the report was stronger than economists expected, it also showed that the pace of the labour market recovery from the coronavirus pandemic has continued to slow down. Here […]
In August, the US economy added 1.37 million jobs and the unemployment rate fell to 8.4%, the Labour Department reported Friday. The report narrowly beat economist expectations, showing that the labour market recovery from the coronavirus pandemic is moving forward. Still, economists worry that the pace of recovery has stalled. […]
Next Page »