Apparel store sales were the worst on record in April when Signet Jewelers, a billion-dollar jewelry chain, and ANTHOM, a modest boutique in New York City, made last-ditch shifts to e-commerce. But only one is turning the lights back on. It’s far from the classic winners and losers story. In […]
In the summer of 2005, David Schechtman — then a bankruptcy lawyer at DLA Piper in New York — was in a small room in Hope Hull, Alabama, doing due diligence for a bankruptcy at 11 p.m. when he saw something that would change his career. He came across the […]
Erica Stewart’s husband is a coal miner in West Virginia. Every day he goes to work packed shoulder to shoulder with other miners with little precautions taken against the coronavirus. Stewart, a mother of six, is at increased risk of severe illness and death from the virus due to an […]
When Manish Patel, the owner of three California beer and burger joints got approved for a Payment Protection Plan loan from the federal government, he counted himself lucky. While other business owners struggled with crashing bank sites, Patel had asked a banker to file for him. His loan arrived on […]
When COVID-19 first hit, Tali Haleua, founder of Fuelogistics from Salt Lake City, Utah, thought he could get by for a few weeks covering expenses out of pocket, but then the lockdowns dragged on. Eventually, he had to lay off all 10 of his employees. Now his trucks are sitting […]
When Sarah Harkness landed her first post-college job at a public relations firm in New York City, she was eager to get all the trappings of an adult life: a professional wardrobe, some adventures abroad, and her very own apartment. But when coronavirus hit, she realized all those expenses didn’t […]
U.S. employers shed 20.5 million jobs in April, the worst monthly loss in history, underscoring how intensely the coronavirus crisis disemboweled the U.S. economy and upended American lives at the height of the pandemic. The drop wasn’t as steep as the consensus among economists. Still, the Labor Department’s report indicates […]
The unemployment rate hit 14.7% in April, the highest ever recorded, and a confirmation that COVID-19 has decimated the U.S. job market. Workers lost 20.5 million jobs between mid-March and -April, the Labor Department reported Friday. The losses compound the 870,000 jobs cut in the previous month, effectively obliterating the […]
April 29, 2020 The Institute for Supply Management’s Report on Business releases details on the U.S. manufacturing sector on Friday. Economists estimate that the report may show numbers similar to the 2009 crash. The index, based on a survey of U.S. manufacturing companies, has not reflected the extent of the […]
The Bureau of Economic Analysis will release its March personal income and spending report tomorrow, where both income and spending are expected to plummet. This will be the first dataset of its kind that will start to reflect Covid-19’s impact on consumer behavior. Here’s what to be on the lookout […]
