American, Southwest join parade of airline losses in 3Q
DALLAS (AP) — Airlines are piling up billions of dollars in losses as the pandemic causes a massive drop in air travel. American Airlines on Thursday reported a loss of $2.4 billion and Southwest Airlines lost $1.16 billion in the third quarter, typically a very strong period of air travel that includes most of the summer vacation season.
Global stocks cautious on lack of US aid plan
BEIJING (AP) — Global stocks and U.S. futures mostly declined Thursday as investors watched Washington for signs of whether political leaders can agree on an economic aid plan in the two weeks before the Nov.
Coca-Cola recovery continues as it grows leaner in pandemic
Coca-Cola measured gradual improvement in the third quarter as it focused on emerging leaner from the global pandemic. Revenue fell 9% to $8.7 billion, edging out Wall Street expectations of $8.4 billion, according to analysts polled by FactSet.
US jobless claims likely remain high as layoffs persist
WASHINGTON (AP) — The government will provide its latest picture Thursday of the pace of job cuts in the United States, which remain elevated with the viral pandemic still impeding the economy seven months after it first erupted.
British Airways parent company slashes passenger forecast
LONDON (AP) — The parent company of British Airways has cut its fourth-quarter passenger forecast to just 30% of last year’s level as government restrictions imposed to control a new wave of coronavirus infections reduces demand for flights.
Banksy artwork sells for almost $10 million at auction
LONDON (AP) — Banksy’s playful take on a famous Impressionist painting has sold at auction for 7.6 million pounds ($9.8 million), the second-highest price ever paid for a work by the British street artist.
Analysis: Racial inequity in who takes career, tech courses
Alphina Kamara wonders what might have happened if she’d been introduced to science and engineering careers at her high school in Wilmington, Delaware.
Asian stocks follow Wall Street lower on lack of US aid plan
BEIJING (AP) — Asian stocks followed Wall Street lower on Thursday as investors watched Washington for signs of whether political leaders can agree on an economic aid plan in the two weeks before the Nov.
Fed survey finds tepid growth as US economy battles pandemic
WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country found that the U.S. economy grew at a “slight to modest” pace in September and early October, but also documented many areas of economic activity hobbled by the coronavirus pandemic.
Tesla posts net profit for fifth straight quarter
DETROIT (AP) — Tesla charged through a summertime auto industry sales slump in the U.S. to post stronger-than-expected net earnings for the third quarter.
CSX profit falls 14% but railroad announces $5B buyback
OMAHA, Neb. (AP) — CSX's third-quarter profit fell 14% but the railroad said it handled nearly as many shipments as last year, as volume recovered from the depths of the shutdowns earlier this year.
Short-video app Quibi shutting down just months after launch
Short-video app Quibi said it is shutting down just six months after its early April launch, having struggled to find customers.
Meet Amit Mehta, the judge for Google's antitrust case
The Justice Department’s antitrust lawsuit against Google has a judge: Obama appointee Amit Mehta, who was assigned the case Wednesday morning in U.S.
Next up in hunt for COVID-19 vaccine: Testing shots in kids
The global hunt for a COVID-19 vaccine for kids is only just beginning — a lagging start that has some U.S. pediatricians worried they may not know if any shots work for young children in time for the next school year.
OxyContin maker Purdue Pharma to plead to 3 criminal charges
WASHINGTON (AP) — Drugmaker Purdue Pharma, the company behind the powerful prescription painkiller OxyContin that experts say helped touch off an opioid epidemic, will plead guilty to federal criminal charges as part of a settlement of more than $8 billion, the Justice Department announced Wednesday.
If Google's a monopoly, who is harmed by its market power?
Google has long defended itself against charges of monopoly by stressing that its products are free and that no one has to use them.
Nonprofit app aims to help unblock global air travel
FRANKFURT, Germany (AP) — A nonprofit foundation is testing a smartphone app that could make it easier for international airline passengers to securely show they've complied with COVID-19 testing requirements.
Judge slams DeVos for rejecting 94% of loan relief claims
Months after vowing to process a backlog of 160,000 requests for loan forgiveness from students who say they were defrauded by their schools, the U.S.
UK-EU trade talks back on after bloc offers olive branch
BRUSSELS (AP) — Britain and the European Union will resume their stalled trade negotiations at an “intensified” pace, the British government said Wednesday, in hope of striking a deal within weeks to avoid a messy economic breakup at the end of he year.
From Detroit to Oakland, pandemic threatens urban renewal
DETROIT (AP) — Downtown Detroit was returning to its roots as a vibrant city center, motoring away from its past as the model of urban ruin.
After years grappling with Google, Europe has tips for US
LONDON (AP) — The U.S. antitrust crackdown on Google might seem like deja vu for European Union regulators. By U.S. standards, the Justice Department's move to sue Google this week for abusing its dominance in online search and advertising was a bold move.
Spain's parliament debates no-confidence vote to oust govt
MADRID (AP) — Spanish Prime Minister Pedro Sánchez is facing a no-confidence debate in parliament brought by the nation’s far-right Vox party, but it appears the maneuver lacks the necessary votes to topple the government.
Ericsson earnings boosted by 5G network rollouts
STOCKHOLM (AP) — Swedish telecom equipment maker Ericsson has reported upbeat third quarter earnings, helped mainly by the rollout of 5G wireless networks in China and a strong U.S.
ILO says garment industry should do more to help workers
MITO, Japan (AP) — The coronavirus pandemic has slammed the apparel industry, leaving many of the 65 million Asian garment factory workers struggling as factories close or cut back on wages, and the International Labor Organization is urging the industry to do more to protect them.
Cathay Pacific cuts 8,500 jobs, shutters regional airline
HONG KONG (AP) — Hong Kong airline Cathay Pacific Airways said Wednesday it would cut 8,500 jobs and shut a regional airline as it grapples with the plunge in air travel due to the pandemic.