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Business

U.S. Fed chief warns of recessionary dynamics amid slower, incomplete recovery

U.S. economic recovery remains far from complete and a prolonged slowing in the pace of improvement over time could trigger typical recessionary dynamics, U.S. Federal Reserve Chairman Jerome Powell said Tuesday.

NYC restaurant industry suffers major pandemic-inflicted losses after reaching pinnacle in 2019

Various estimates project that during the next six months to a year, one-third to one-half of the city's restaurants and bars that existed prior to the pandemic may close permanently.

2nd largest cinema chain in U.S. considers closing all theaters

Regal Cinemas, the second-largest theater chain in the United States, is considering closing all 543 of its theaters in the country due to continued revenue losses from the COVID-19 pandemic.

Amazon workers march to Jeff Bezos’ mansion, calling for higher wages, protections

Demonstrators on Sunday marched to Amazon founder Jeff Bezos’ Beverly Hills mansion, protesting company working conditions during the COVID-19 crisis and calling for higher wages, free health care and child care for employees.

Alaska Airlines to furlough or lay off more employees as COVID-19 grips travel industry

As federal aid for airlines runs out and negotiations over more coronavirus relief stall, Alaska Airlines has begun cutting nearly 450 more flight attendants and other employees from its payroll while borrowing $1.3 billion from the U.S. Treasury.

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