Wall Street was struggling on Thursday, torn between improving economic data and a Federal Reserve that said the path to recovery would be very long. Stocks took a nosedive at the opening bell and fought back from their lows, before finding themselves deep in the red again around midday. The Dow, which even briefly turned…… MORE
Papa John’s is moving much of its operation from Louisville, Kentucky, to a new global headquarters to Atlanta. The pizza chain hasn’t picked the specific location for its Atlanta office yet, but it’s expected to complete the selection process by the end of the year, according to a press release. “We’re thrilled to open a…… MORE
The coronavirus pandemic has battered Richard Branson’s business empire. Now, the billionaire is going on the offensive. VG Acquisition Corp, a “blank-check” company founded by the leader of Virgin Group, filed on Wednesday for an initial public offering on the New York Stock Exchange. The goal: raise $400 million and use that money to buy…… MORE
Ford announced plans Thursday for a new plant to build the electric version of its bestselling vehicle, the F-150 pickup. The plant will be located in Ford’s massive Rouge complex, the company’s historic factory site in Dearborn, Michigan, just south of Detroit. The new building will be a gleaming structure of glass and steel, a…… MORE
The stock market is, to put it mildly, having a strange year. The S&P 500, a market cap weighted index heavily influenced by the FAANGs, is up nearly 4% in 2020 while the tech-laden Nasdaq has soared more than 20%. But the Russell 2000, the index that is home to America’s small cap public companies,…… MORE
For years, Costco and Sam’s Club have dominated warehouse club retail, where members pay an annual fee to buy large quantities of goods at low prices. But a much smaller warehouse chain has gained steam as shoppers load up on groceries in the pandemic: BJ’s Wholesale Club. The chain, which has more than 200 no-frills,…… MORE
The Federal Reserve has pledged to keep interest rates near rock bottom for a long time to come. But a hazy outlook for an economy deeply scarred by the pandemic is still worrying investors, pushing US stock futures down sharply on Thursday. What’s happening: The Fed indicated on Wednesday that it would hold rates at…… MORE
Another 860,000 Americans filed for first-time unemployment benefits last week on a seasonally adjusted basis, the Department of Labor reported Thursday. It was another week-on-week decline for jobless claims as the jobs recovery drags on, but the improvements have been slow and the jobs recovery is running out of steam. Weekly claims have improved since…… MORE
Former President Barack Obama’s long-awaited presidential memoir is coming this year — but not until after the November election. A flood of hot-selling political books have hit shelves in recent weeks in the run-up to the election. Readers will have to wait for Obama’s book, though: He tweeted early Thursday that the book, “A Promised…… MORE
When the pandemic hit the United States in March, Imperfect Foods found itself scrambling to keep up with a sudden spike in demand. In early 2020, the five-year-old online grocery startup was delivering about 100,000 food boxes a week. By May, that weekly figure had doubled. From June to August, weekly orders have remained at…… MORE
