Money

On a bustling Tuesday morning, Xiomy de la Cruz greets volunteers at a local food bank and tasks them with the day’s assignments — distributing canned food, meat, and rice to dozens of people who have come to rely on the pantry for their week’s supplies. But just over a year ago, de la Cruz

General Electric is selling off its aircraft leasing business, closing the books on its once mighty GE Capital unit, the financial arm of the company that had been its largest business and one of the world’s most dominant financial institutions. GE is selling the aircraft leasing business known as GECAS to rival AerCap, an Ireland-based

Starbucks wants you to buy more of its coffee at the grocery store. So it’s offering up something more on-trend than the bottled Frappucinos of years past. The coffee company’s new line, Cold & Crafted, is available nationally in retail locations on Wednesday. The line is launching with three flavors: Coffee Sweetened Black, Coffee with

One year after it began, the Covid-19 pandemic nightmare is nearly over. With millions of Americans getting vaccinated each day and the imminent passage of the massive American Rescue Plan, we are starting to approach herd immunity, and, in a couple of months the economy will be enjoying rip-roaring growth. Barring any other major unforeseen

Clorox got a huge boost from worried consumers continually wiping down surfaces at home during the height of the pandemic. But now that more people are venturing out of their houses thanks to Covid-19 vaccines, Clorox is evolving its marketing strategy to focus more on businesses. The household products company announced a new initiative Wednesday,

The US economy added 379,000 jobs last month, far more than economists had expected, signaling the labor market recovery is finally gaining steam. The January numbers were also revised sharply higher to 166,000 added jobs versus 49,000 initially reported. The leisure and hospitality industry added the most jobs in February with 355,000 new positions as

The average paycheck for American workers has gotten bigger during the pandemic. Ordinarily that would be cause to jump for joy. But the reason for this increase is grim: Millions of low-income jobs are gone, and that has pushed average pay higher. “When the bottom drops out, the average is different,” Elise Gould, senior economist

The national unemployment rate is masking how much some groups are still struggling in the pandemic economy. That’s why the Federal Reserve looks at more than just the average jobless numbers to determine the nation’s economic health. “When we say maximum employment is a broad and inclusive goal, we don’t only look at the headline

The American job market is nowhere near fixed. Nearly one year into the pandemic, the nation is still down nearly 10 million jobs. Another 745,000 Americans filed for first-time unemployment benefits on a seasonally adjusted basis last week, the Labor Department reported Thursday. It was a slightly smaller number of claims than economists had expected,

GameStop shares climbed rapidly and were halted twice for volatility ahead of the closing bell Wednesday. The gaming retailer’s stock was priced at $91.71 at market close, up nearly 104% from the previous day. Shares were halted once around 3:40pm ET after climbing nearly 74%, and again just over 10 minutes later after gaining 104%.

Michael Bolton wants you to dump Robinhood. In the strangest twist yet in the already bizarre Robinhood saga, Bolton is singing about payment for order flow in a YouTube video published by rival online brokerage Public.com. Set to the tune of his Grammy-winning 1989 hit, “How Am I Supposed to Live Without You,” which Bolton

The US economy fared ever so slightly better in the fourth quarter of 2020 than initially thought. The nation’s gross domestic product grew at an annualized and seasonally adjusted rate of 4.1%, the Commerce Department reported in its second reading of the data on Thursday. That’s up from the annualized and seasonally adjusted 4% growth

US consumer spending jumped at its quickest pace since June as stimulus checks put more cash into Americans’ wallets. Incomes rose 10% in January — the biggest increase since April of last year, when expanded unemployment benefits and stimulus checks from the CARES Act put more cash in American’s wallets, the Commerce Department reported Friday.

Disney+, the focal point of Disney‘s media empire, has achieved a significant milestone. The streaming service has surpassed 100 million global subscribers in just 16 months, Disney CEO Bob Chapek announced at the company’s annual shareholders meeting, which was held virtually on Tuesday. “The enormous success of Disney+… has inspired us to be even more

Anthony Scaramucci is dumbfounded by the universal opposition among Republicans in Congress to President Joe Biden’s $1.9 trillion America Rescue Plan. After largely blessing Trump’s tax cuts, spending surges and Covid relief packages, not one Republican lawmaker in the US Senate or House of Representatives voted in favor of the new president’s popular plan to