Large retail and grocery chains staying open during the coronavirus crisis are on hiring sprees. But some of the companies’ existing part-time employees who want more work are concerned that the plans will make it harder for them to get ahead. Walmart is adding 150,000 workers through the end of May at stores and warehouses…… MORE
Production of Corona beer is being temporarily suspended in Mexico because of the coronavirus pandemic. Grupo Modelo, the company that makes the beer, posted the announcement on Twitter, stating that it’s halting production and marketing of its beer because the Mexican government has shuttered non-essential businesses. The Anheuser-Busch Inbev-owned company also makes Modelo and Pacifico…… MORE
The American economy lost more jobs than it gained for the first time in a decade. In March, the economy shed 701,000 jobs, according to the Bureau of Labor Statistics. It was the first time the economy lost jobs in a month since September 2010, and the worst month for American jobs since the depths…… MORE
Less than a month ago, Mitch Patel’s hotel business was booming. His company, Vision Hospitality Group, owns 37 hotels in six states and it had seen record business in January and February, according to Patel. Things were going so well, he was planning to open two more hotels this year, and seven next year. But…… MORE
President Donald Trump set off a record spike for US crude futures on Thursday with a tweet saying he expected Russia and Saudi Arabia to cut production by as much as 15 million barrels per day. US oil prices soared before closing with a record single-day record gain of 25%. Why such enthusiasm? Russia and…… MORE
Governments are launching one rescue package after another in hopes of preventing economic catastrophe as the coronavirus pandemic rampages around the world, shutting down entire industries and costing tens of million of people their jobs. In most countries, political opposition to spending increases funded by borrowing has vanished in the face of a potential global…… MORE
OPEC will meet on Monday with Russia and other oil producers in the hope of agreeing supply cuts and ending a brutal price war. The meeting, called by Saudi Arabia, will be held via video conference and will include oil producers from outside the OPEC+ alliance that includes Russia and a few other countries, two…… MORE
Globally, more than 1.3 billion children are out of school because of the coronavirus pandemic. Parents are frazzled. Children are antsy. And the whole thing is proving a major shock to society. Four economists have a hypothesis for how this shock could play out on a massive scale. In a new research paper, Matthias Doepke…… MORE
Cathay Pacific is used to carrying about 100,000 daily passengers. At one point this week, it flew just 582 customers in a day. The is the grim reality Hong Kong’s flagship airline is facing as the novel coronavirus pandemic worsens, darkening the outlook for the global travel industry and “intensifying” financial ramifications for businesses like…… MORE
A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. CNN’s Chris Cuomo has become the most visible face of the coronavirus in the United States by giving daily updates about his condition on TV, social media and, on Thursday, at his brother’s New York…… MORE
