Now that Gov. Gavin Newsom is letting more businesses reopen as coronavirus cases decline, the California Legislature on Thursday passed a bill requiring some hotels, stadiums other hospitality companies to offer laid-off workers their jobs back. Hospitality companies were some of the hardest hit by the state's stay-at-home order, with no fans in professional sports stadiums, no travelers to stay in hotels and empty office buildings and deserted airports needing fewer janitors and food service workers.
The Treasury Department on Thursday slapped six Russian technology companies with sanctions for supporting Kremlin intelligence agencies engaged in “dangerous and disruptive cyber attacks.” But only one of them stands out for its international footprint and partnerships with such IT heavyweights as Microsoft and IBM.
Disturbing bodycam video released Thursday after public outcry over the Chicago police shooting of a 13-year-old boy shows the youth appearing to drop a handgun and begin raising his hands less than a second before an officer fires his gun and kills him.
The Middle East's largest operator of malls expects revenue and earnings to climb back to pre-pandemic levels by the end of next year and is moving full steam ahead with plans to develop its biggest mall ever. In a wide-ranging interview with The Associated Press on Thursday, Majid Al Futtaim CEO Alain Bejjani said business is steadily rebounding amid vaccine rollouts in some countries of the region, kicking 2021 off to a relatively strong start.
A much-awaited economic boom coming off the pandemic recession appeared to edge closer to reality Thursday with fresh data showing the pace of layoffs dwindling, consumers spending freely and manufacturing rebounding. The latest barometers point to a U.S. economy that's steadily regaining its health as vaccinations accelerate, business curbs are lifted in many states and more people are willing to travel, shop, eat out and otherwise resume their spending habits.
For the first time that María can remember, half of her marijuana harvest is still in storage on her ranch in Mexico's Sinaloa state months after it should have been sold. Sitting in her wooden house tucked into the same mountains that produced some of the world's most notorious drug traffickers, including Joaquín "El Chapo" Guzmán, the 44-year-old mother of four thinks she knows why: expectations Mexico will soon legalize marijuana.
Mortgage rates fell for a second straight week amid signs of economic improvement. Mortgage buyer Freddie Mac reported Thursday that the benchmark 30-year home-loan rate declined to 3.04% this week from 3.13% last week. At this time last year, the long-term rate was 3.31%.
Delta Air Lines lost $1.2 billion in the first quarter, more than expected, but executives said Thursday that the airline could be profitable by late summer if the budding recovery in air travel continues. CEO Ed Bastian said Thursday that ticket sales have been stronger in the last two weeks than at any time since the pandemic hit the U.S. last year. So far most of the people boarding planes are vacationers booking trips to mountains, beaches and resorts.
For more than a year, investors have been pushing up stock prices, even though the pandemic caused profits to crater for companies. With COVID-19 vaccines going into arms and businesses reopening, investors want to see that faith rewarded with some proof of fat profit growth, starting now. Not only are expectations high for this upcoming earnings season, which got going Wednesday with reports from JPMorgan Chase and other big banks, they're rising even more by the day.
UnitedHealth's first-quarter profit jumped about 44%, and the nation's largest health insurer also hiked its 2021 outlook despite expecting more hits from the COVID-19 pandemic. The company said Thursday that the performance of its Optum division was particularly strong.