Business
Looking for recent business news? Here you'll find all of the breaking and daily business news articles.
Insurance rates won’t go up in wake of 2026 wildfires
MOSES LAKE — Almost three-fifths of American homeowners have concerns about their insurance rates going up due to …
Curtain lowers on nuke plant a stone's throw from Manhattan
ALBANY, N.Y. (AP) — With the push of a red button, one of the two operating reactors at an aging nuclear plant serving millions of people in the New York City area will shut down Thursday night as federal regulator…
Company says drug proved effective against virus in US study
A biotech company said Wednesday its experimental drug has proved effective against the new coronavirus in a major U.S. government study that put it to a strict test.
Biotech company Gilead says its experimental coronavirus drug met its treatment goal in a major study
NEW YORK (AP) — Biotech company Gilead says its experimental coronavirus drug met its treatment goal in a major study.
US pending home sales sank 20.8% in March
BALTIMORE (AP) — U.S. home sales showed signs of collapsing in March, as the number of contract signs plunged sharply because of the coronavirus outbreak.
US economy shrank 4.8% last quarter, with worst yet to come
WASHINGTON (AP) — The U.S. economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record.
Stocks charge higher on hopes for progress in fighting virus
Stocks around the world whipped higher Wednesday, riding a wave of optimism on encouraging data about a possible treatment for COVID-19.
Laid-off US workers face foreign world of insurance shopping
Mass layoffs are pushing many Americans into an unfamiliar role: shopping for health insurance that isn’t offered by an employer.
Norfolk Southern 1Q profit falls 44% on charge, weak volume
OMAHA, Neb. (AP) — Norfolk Southern's first-quarter profit fell 44% because of a one-time charge related to locomotive sales and weak shipping volume driven by the coronavirus outbreak.
California food for seniors plan could run out of money soon
LOS ANGELES (AP) — California Gov. Gavin Newsom’s first-in-the-nation plan to pay for and deliver three meals a day to vulnerable seniors during the coronavirus crisis has less than two weeks to launch before feder…
Insurers stick to 2020 outlooks as COVID-19 pandemic spreads
Anthem and Humana became on Wednesday the latest health insurers to reaffirm their 2020 earnings forecasts, even as the COVID-19 pandemic has made outlooks in other sectors essentially worthless.
US economy shrank at 4.8% annual rate last quarter in the face of viral outbreak, its worst showing since 2008
WASHINGTON (AP) — US economy shrank at 4.8% annual rate last quarter in the face of viral outbreak, its worst showing since 2008.
Fitch cuts Italy's gov't debt grade, auto plants reopening
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the global economy, the work place and the spread of the virus.
Lebanon's central bank governor defends his role amid crisis
BEIRUT (AP) — Lebanon’s central bank governor defended himself Wednesday against scathing criticism by the government, claiming there is a “systematic campaign” meant to hold him responsible for the country’s recen…
Plan to use malaria drug in Mumbai slums temporarily shelved
NEW DELHI (AP) — A plan to give the anti-malarial drug hydroxychloroquine to thousands of people in Mumbai’s crowded slums to prevent coronavirus infections has temporarily been shelved, officials said Wednesday.
Turkey vows solidarity with US in fighting virus outbreak
ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan has promised to stand in solidarity with the United States in its struggle against the coronavirus pandemic and as it recovers from the outbreak.