There’s a new headstone in the satellite internet graveyard today. This one belongs to OneWeb, which, according to a report in the Financial Times, is preparing to file for chapter 11 bankruptcy protections and lay off most of its 500 staff. The report states that OneWeb began preparing to file […]
Corporate cash crunch makes bank funding metric look jittery
Economic Indicators9 hours ago (Mar 27, 2020 02:30PM ET) (C) Reuters. By David Henry NEW YORK (Reuters) – A high-temperature gauge of bank funding costs is at levels not seen since the 2008 financial crisis. But rather than signaling stress among major lenders, it is showing the biggest demand for […]
What Amazon Workers Are Facing as Coronavirus Spreads in the US
Jana Jumpp has been working at an Amazon fulfillment center in Jeffersonville, Indiana, for over four years. Until recently, her experience at the company had been great. Amazon helped pay for Jumpp to go to massage therapy school, and even sent her to assist with the opening of a new […]
The Race to Keep Health Care Workers Protected From Covid-19
The prognosis is grim. “We’re all anticipating that the situation is going to get worse,” says Elissa Schechter-Perkins, an emergency room physician at Boston Medical Center. As the coronavirus spreads across the United States, health care workers are reckoning with how to protect themselves while helping Covid-19 patients in increasingly […]
U.S. consumer sentiment near three-and-a-half-year low, spending tepid
(C) Reuters. Shoppers carry bags of purchased merchandise at the King of Prussia Mall, United States’ largest retail shopping space, in King of Prussia By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and […]
Coronavirus Conspiracy Theories Are a Public Health Hazard
Conspiracy theories will always circle major world events and disasters like paranoid vultures, but with the Covid-19 pandemic they have been given a feast. Since China first alerted the world to the spreading disease late last year, the coronavirus has inspired countless wild stories about its origins, its effects, its […]
U.S. consumer spending, inflation moderate in February
(C) Reuters. Shoppers carry bags of purchased merchandise at the King of Prussia Mall, United States’ largest retail shopping space, in King of Prussia By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the […]
Consumer Sentiment in U.S. Slumps by Most Since October 2008
Forex29 minutes ago (Mar 27, 2020 10:18AM ET) (C) Reuters. Consumer Sentiment in U.S. Slumps by Most Since October 2008 (Bloomberg) — U.S. consumer sentiment plummeted in March by the most since October 2008 as mounting Covid-19 cases nationwide and business closures elevated concerns about the economy. The University of […]
Elizabeth Warren’s Campaign Is Making Its Software Open Source
“It’s really good that people are releasing stuff open source, and that they’re working on these tools and circulating them,” said Zack Exley, a longtime political tech consultant who worked on the 2016 Bernie Sanders campaign. “Open-source tools in the campaign world survive best, and thrive, when there’s some full-time […]
Bank of Canada Cuts Rates to 0.25%, Plans Asset Purchases
ForexMar 27, 2020 09:36AM ET (C) Reuters. Bank of Canada Cuts Rates to 0.25%, Plans Asset Purchases (Bloomberg) — The Bank of Canada slashed interest rates for a third time in a matter of weeks, and announced what appears to be a large scale asset purchase program to help shield […]