Money

The pandemic, now in the beginning of its second year, has had a notable and unequal effect on Americans’ financial well-being. While some people have lost jobs and income, others seem to be thriving. And the chances of falling into either camp vary by income, age, race or ethnicity and gender, according to findings from

It looks like good economic news is actually being treated as good news on Wall Street. Stocks opened sharply higher following a solid February jobs report Friday, with 379,000 jobs added last month. The Dow rose more than 300 points, or 1%, while the S&P 500 and the Nasdaq each rose about 1% as well.

A wave of anxiety is sweeping through stock and bond markets as investors prepare to enter a new phase of the pandemic. What’s happening: Concerns are growing that a strong economic recovery later this year will cause a spike in inflation. That’s sparked a selloff in government bonds. When prices fall, yields rise, which weighs

A record number of stores are closing across America. One discount clothing chain thinks it can step in to fill some of those vacancies. Burlington Stores plans to open 100 new stores this year and sees an opportunity to reach 2,000 US stores in the future, the company said Thursday. Previously, Burlington (formerly known as

Last year, people were stockpiling food and essentials at stores and ordering a lot more groceries online. That was great news for America’s biggest grocery chains. Now companies say the pandemic-time boom is over. Kroger, the largest supermarket chain in this country, said Thursday that it expects comparable sales, or sales at stores open for

YouTube has removed channels from broadcasters run by Myanmar’s military following a dramatic escalation of violence in the country. It’s the latest in a wave of actions taken by social media companies since the military coup in the country on February 1, which has sparked a series of mass protests and a brutal crackdown by

Last year, Barbara Thigpen had a difficult choice to make: close her salon of 10 years, or dip into her son’s college fund. The salon had been closed for much of the year by California’s state mandate due to the pandemic. Then the government said it was offering a third round of Paycheck Protection Program

Tesla is starting to lose market share among US buyers of electric vehicles, and Ford’s Mustang Mach-E appears to be the beneficiary. Analysis by Morgan Stanley shows that Tesla’s share of the US EV market fell to 69% in February, down from 81% a year ago. Tesla’s US sales are still climbing, according to this

US stocks tumbled Thursday after Federal Reserve Chairman Jerome Powell predicted an increase in consumer prices this summer — something investors fear will force interest rates up sooner than expected. Powell, speaking at a conference Thursday, predicted strong job growth and increases in consumer prices as the vaccine rollout allows the economy to reopen fully.

China bucked the global recession in 2020, and in doing so narrowed the economic gap with the United States. Now it says it needs to pick up the pace this year. Premier Li Keqiang on Friday announced that China would target growth of more than 6% in 2021. While China emerged from the global downturn

China bucked the global recession in 2020, and in doing so narrowed the economic gap with the United States. Now it says it needs to pick up the pace this year. Premier Li Keqiang on Friday announced that China would target growth of more than 6% in 2021. While China emerged from the global downturn

China bucked the global recession in 2020, and in doing so narrowed the economic gap with the United States. Now its leaders are about to reveal how they plan to accelerate the pace of growth this year. The “Two Sessions” meeting, China’s biggest political gathering of the year, kicked off this week. On Friday, all

T-Mobile has been popular with consumers, but an underdog when it comes to serving businesses. The “Uncarrier” wants to change that with the rollout of 5G. The company announced Thursday a series of of new offerings for business customers: corporate wireless plans with unlimited data and 5G access, cloud-based workplace communication tools and a “Home

Jay-Z has 99 problems but figuring out a buyer for his struggling music streaming service is no longer one. Square, the payments company founded and run by Twitter CEO Jack Dorsey, announced Thursday it has agreed to acquire a majority stake in Jay-Z’s Tidal platform. In a press release, Square said it expects to pay

A group of major oil producers has agreed to extend production cuts for another month despite a recent price surge, choosing to limit supply until the global economic recovery is more firmly established. The Organization of the Petroleum Exporting Countries (OPEC) and allied producers said on Thursday that they would largely roll over production cuts

The repo market, a murky yet crucial corner of Wall Street, is acting weird again. And the turmoil suggests the Federal Reserve may need to come to the rescue once more. The Dow, GameStop and bitcoin steal a lot of headlines, but the repo market is vital to the functioning of modern finance. Trillions of