07 May ArcBest Records 61% Decline in Q1 Net Income ArcBest Corp. reported a drop in revenue and profits for the first quarter, and business took a turn for the worse at the beginning of the second quarter amid the coronavirus pandemic. Read more...
07 May 33 Million Have Sought US Unemployment Aid Since Virus Hit Nearly 3.2 million laid-off workers applied for unemployment benefits last week as the business shutdowns caused by the viral outbreak deepened the worst U.S. economic catastrophe in decades. Read more...
07 May Oil Jumps After Saudi Arabia Raises Prices to Boost Recovery Oil surged after Saudi Arabia raised prices for its crude globally. Read more...
07 May FCC Opens Wi-Fi Access to Aid Coronavirus Response The Federal Communications Commission temporarily allowed broadband interests expanded access to the 5.9 GHz spectrum to battle the coronavirus pandemic. Read more...
06 May Agriculture Secretary Says Meatpacking Plants Should Reopen Within 10 Days U.S. Agriculture Secretary Sonny Perdue said he expects U.S. meatpacking plants to fully resume operations within a week to 10 days, during a meeting with President Donald Trump and Iowa Gov. Kim Reynolds. Read more...
06 May Senate Committee Approves Water Infrastructure Measures A bill that would authorize projects at ports and another one that would promote access to safe drinking water were easily approved by the Senate Environment and Public Works Committee on May 6 Read more...
06 May Oil Slides With Glut Concerns Eclipsing Demand Recovery Oil declined as data showing rebounding demand wasn’t enough to offset ballooning inventories. Read more...
06 May Earnings Calls Study Shows Companies More Worried Than in 2008 The once-in-a-century pandemic has unleashed financing fears all over Corporate America that far exceed the 2008 crisis, as executives prep for fresh economic and market pain. Read more...
06 May Auto-State Lawmakers Mobilize Push to Help Revive Car Industry A bipartisan group of House lawmakers from states with a large auto industry presence is mounting a push to aid the sector that has idled factories and seen car sales plummet due to the coronavirus. Read more...
06 May IMF: World Needs Two-Decade, $20 Trillion Investment The International Monetary Fund sees the world needing public investment of more than $20 trillion in the next two decades as nations spend on initiatives including improved healthcare systems, infrastructure and green technology. Read more...