U.S. retail sales plummeted 8.7% in March, an unprecedented decline, as the viral outbreak forced an almost complete lockdown of commerce nationwide. The deterioration of sales far outpaced the previous Continue Reading
The major banks in the U.S. are anticipating a flood of loan defaults as households and business customers take a big financial hit from the coronavirus pandemic. JPMorgan Chase, Wells Continue Reading
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 workplace and the spread Continue Reading
Large chunks of the U.S. economy froze in March as the coronavirus pandemic closed malls, restaurants, factories and mines, causing Americans to cut retail spending by a record amount and Continue Reading
Banking and financial services executives told President Trump that his administration needed to dramatically increase the availability of coronavirus testing before the public would be confident enough to return to Continue Reading
The coronavirus crisis will exact the biggest toll on the global economy since the 1930s Great Depression and potentially hit Britain harder than the Spanish flu epidemic and first world Continue Reading
The global economy has almost certainly entered a recession affecting most of the world, with a severity unmatched by anything aside from the Great Depression, the International Monetary Fund said Continue Reading
What started as the worst-case scenario for U.S. unemployment is quickly becoming reality. Some economists now see the jobless rate surging to 20% as soon as this month — and Continue Reading
A second wave of job loss is hitting those who thought they were safe. Businesses that set up employees to work from home are laying them off as sales plummet. Continue Reading
Walter Isenberg is the sort of business owner President Trump has in mind when he talks about the need to start lifting coronavirus lockdowns and reopen the American economy. Mr. Continue Reading
