Postal Service loses $2.2B in 3 months as virus woes persist
WASHINGTON (AP) — The U.S. Postal Service says it lost $2.2 billion in the three months that ended in June as the beleaguered agency — hit hard by the coronavirus pandemic — piles up financial losses that officials warn could top $20 billion over two years.
US consumer borrowing up in June after 3 months of declines
WASHINGTON (AP) — The pandemic still has Americans easing off the plastic. U.S. consumer borrowing rose in June after three months of declines but the key category of credit card debt extended its decline.
S&P 500 ekes out a tiny gain as tech losses hold it back
NEW YORK (AP) — The S&P 500 eked out a tiny gain after being weighed down for much of the day by slides in major technology stocks.
US hiring slows in July as signs of lasting damage emerge
WASHINGTON (AP) — U.S. hiring slowed in July as the coronavirus outbreak worsened, and the government’s jobs report offered signs Friday that the economic damage from the pandemic could last far longer than many observers originally envisioned.
Q&A: What's up with Trump's orders on TikTok and WeChat?
NEW YORK (AP) — President Donald Trump has ordered sweeping but vague ban on dealings with the Chinese owners of popular apps TikTok and WeChat, saying they are a threat to U.S.
Judge rejects pharmacy chains' bid to toss opioid suits
CLEVELAND (AP) — Lawsuits filed by two Ohio counties against retail pharmacy chains claiming their opioid dispensing practices flooded communities with pain pills and were a a public nuisance can continue, a federal judge in Cleveland has determined.
AP Explains: 5 key takeaways from the July jobs report
WASHINGTON (AP) — A resurgence in COVID-19 cases didn’t shut off the American job creation machine last month — but it did slow it down.
US sanctions pro-China leader of Hong Kong, other officials
WASHINGTON (AP) — The U.S. on Friday imposed sanctions on Hong Kong officials, including the pro-China leader of the government, accusing them of cooperating with Beijing’s effort to undermine autonomy and crack down on freedom in the former British colony.
Turkish lira hits another historic low amid pandemic
LONDON (AP) — Turkey's currency tumbled further Friday, hitting another record low. The Turkish lira dropped to 7.3677 against the dollar before making a recovery.
Fed official defends slow start to Main Street loan program
WASHINGTON (AP) — A top Federal Reserve official on Friday defended the central bank’s efforts to launch a Main Street lending program and said the small number of loans approved so far would likely expand by a significant amount in coming months, especially if the pandemic worsens.
UK to spend millions to ease Brexit red tape for N Ireland
The British government will spend up 355 million pounds ($465 million) to help businesses in Northern Ireland deal with the red tape caused by Brexit, officials said Friday.
Loan program ends, hard-hit businesses hope for 2nd chance
NEW YORK (AP) — Small businesses are in limbo again as the coronavirus outbreak rages and the government’s $659 billion relief program draws to a close.
Trump bans dealings with Chinese owners of TikTok, WeChat
NEW YORK (AP) — President Donald Trump has ordered a sweeping but vague ban on dealings with the Chinese owners of popular social media apps TikTok and WeChat on security grounds, a move China's government criticized as “political manipulation."
Trump moves against Chinese owners of TikTok and WeChat apps
NEW YORK (AP) — President Trump is broadly prohibiting unspecified ‘transactions’ with Chinese owners of TikTok and WeChat via executive order in 45 days.
Swiss ink deal with Moderna for 4.5M doses of COVID vaccine
GENEVA (AP) — The Swiss federal government says it has struck a deal with Moderna to supply Switzerland with 4.5 million doses of a COVID-19 vaccine if the U.S.
China's July exports rise despite coronavirus, US tariff war
BEIJING (AP) — China's exports rose by an unexpectedly strong 7.2% in July as the world's second-largest economy recovered from the coronavirus pandemic.
Asian shares skid amid virus woes, China-US trade tensions
TOKYO (AP) — Asian shares were mostly lower Friday in lackluster trading, as trade tensions between the U.S. and China offset optimism about more fiscal stimulus for the ailing U.S.
Virus talks on brink of collapse, sides still 'far apart'
WASHINGTON (AP) — Washington talks on vital COVID-19 rescue money are teetering on the brink of collapse after a marathon meeting in the Capitol Thursday night generated a wave of recriminations but little progress on the top issues confronting negotiators.
Trump targets Canada, reimposing tariffs on aluminum
WASHINGTON (AP) — President Donald Trump said Thursday that the United States is reinstating a 10% import tax on Canadian aluminum, raising tensions with an American ally just weeks after his trade pact with Canada and Mexico took effect.
Cadillac says new electric SUV has features to take on Tesla
DETROIT (AP) — We’ve seen this movie before, an electric vehicle from a mainstream automaker that will take away sales from market leader Tesla.
Fed's Main Street pandemic support program off to slow start
WASHINGTON (AP) — The Federal Reserve says that its Main Street Lending Program designed to help small and medium-sized companies get through the pandemic has managed to make just eight loans in its first month of operations.
Uber lost $1.8B in 2Q as riders stayed home and ordered in
NEW YORK (AP) — Uber lost $1.78 billion in the second quarter as the pandemic carved a gaping hole in its ride-hailing business, with millions of people staying home to reduce the spread of the coronavirus.
US rescinds global 'do not travel' coronavirus warning
NEW YORK (AP) — The Trump administration on Thursday rescinded its warnings to Americans against all international travel because of the coronavirus pandemic, saying conditions no longer warrant a blanket worldwide alert.
Apple shines in pandemic with $2 trillion value on horizon
Early in 2020, Apple appeared to be caught in a horrible bind. The initial spread of the novel coronavirus shut down the factories in China that assemble its iPhones and also closed its retail stores in a country that ranks as the company's biggest market besides the U.S.
2 Keystone XL pipeline workers get virus, but work continues
BILLINGS, Mont, (AP) — Two people working on the Keystone XL oil pipeline have tested positive for the coronavirus in northern Montana, but the company said Thursday that construction work on the disputed project will continue after a temporary shut down of a pipe storage yard.