Business News

  • Hobby Lobby closes its stores after defying coronavirus stay-at-home orders
    dbdurden/iStock(NEW YORK) -- Hobby Lobby finally closed all of its stores in the U.S. after the craft supplies company received backlash for staying open in at least one state amid the novel coronavirus pandemic. Nearly all of the store employees will be furloughed, as well as a large portion of corporate and ... read more
    BusinessApril 04, 2020
  • Detroit police soldier on, despite COVID-19 outbreak
    polybutmono/iStock(DETROIT) -- At a community event in Detroit earlier this month in which a number of Detroit Police Department officers were present, the moderator of that event later tested positive for COVID-19. Although it isn’t certain, Detroit Police Chief James Craig said of members of the department getting the virus from ... read more
    BusinessApril 04, 2020
  • Experts warn about big dollar fraud in $2.2 trillion coronavirus relief package
    piranka/iStock(NEW YORK) --The U.S. government’s historic $2.2 trillion coronavirus aid relief package recently approved by Congress is highly vulnerable to fraud and abuse, oversight experts and veteran watchdogs who investigated abuse of the government’s financial system bailout more than a decade ago told ABC News. The size of the unprecedented relief package ... read more
    BusinessApril 04, 2020
  • What to know about hazard pay if you’re working during coronavirus crisis
    Kameleon007/iStock(NEW YORK) -- As thousands of grocery staffers, delivery workers and other "essential" employees still head to work amid the novel coronavirus pandemic, recent searches for "hazard pay" have skyrocketed, according to Google data.The once narrowly used labor term that has been thrust into the spotlight in recent weeks is ... read more
    BusinessApril 03, 2020
  • Coronavirus economic updates: US cuts 701K jobs in March, unemployment rate jumps to 4.4%
    Gwengoat/iStock(WASHINGTON) -- The coronavirus pandemic has quickly evolved from a health crisis to a financial one, shuttering businesses, upending entire industries and sending financial markets reeling. Here's the latest news on how the COVID-19 crisis is affecting the economy: Amazon CEO Jeff Bezos pledges $100 million donation to US food ... read more
    BusinessApril 03, 2020
  • US cuts 701K jobs in March amid coronavirus pandemic, unemployment rate jumps to 4.4%
    Gwengoat/iStock(WASHINGTON) -- U.S. employers cut 701,000 jobs in March and the unemployment rate rose to 4.4% from 3.5%, according to the latest report from the Bureau of Labor Statistics. The new report released Friday is the first to show the initial impacts of the novel coronavirus pandemic on the U.S. ... read more
    BusinessApril 03, 2020
  • Here are three ways to save money amid coronavirus
    Kritchanut/iStock(NEW YORK) -- As many Americans increasingly find themselves out of work and filing for unemployment amid the coronavirus pandemic, many have to find extra funds. ABC News Technology and Consumer correspondent Becky Worley shared her tips for finding a few extra dollars during these uncertain times.Subscription scrubGet your credit ... read more
    BusinessApril 03, 2020
  • Millions of Americans could wait months for mailed stimulus checks, IRS tells Dems
    Pineapple Studio/iStock(WASHINGTON) -- Millions of Americans could wait months for stimulus checks from the federal government, according to a House Democratic memo obtained by ABC News.With millions of Americans unemployed in the midst of the coronavirus outbreak, the extended timeline for the delivery of paper checks could spell trouble for ... read more
    BusinessApril 03, 2020
  • What to know about applying for unemployment insurance during coronavirus crisis
    glegorly/iStock(NEW YORK) -- The novel coronavirus pandemic has caused unemployment levels to skyrocket, delivering a massive blow to the U.S. economy as a whole and shuttering, at least temporarily, thousands of businesses across the country.A record-smashing 6.6 million people filed for unemployment in the week ending March 28 amid the ... read more
    BusinessApril 03, 2020
  • Nonprofit organizations ask for stimulus money as resources dry up during pandemic
    iStock/Dean R Specker(WASHINGTON) -- While the novel coronavirus pandemic continues to spread across the country, nonprofit organizations continue to operate some of their most important programs.Whether it’s child care for essential workers, blood drives or online training sessions for job applications, organizations like the YMCA and United Way continue to ... read more
    BusinessApril 02, 2020