US economy shrank at 5% annual rate in Q1

WASHINGTON (AP) — The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current...

Many more likely sought US jobless aid even as layoffs slow

WASHINGTON (AP) — The U.S. government is set to sketch its latest picture Thursday of the layoffs that have left tens of millions of people unemployed but have slowed as states increasingly allow busi...

Fed report notes sharp virus-related drop in economy

WASHINGTON (AP) — The Federal Reserve detailed Wednesday what most of the nation is already acutely aware of: Economic activity fell sharply around the country in April and May as measures to combat t...

CEO pay has topped $12.3M. Can it keep rising post-pandemic?

The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of exe...

Boeing cutting more than 12,000 jobs with layoffs, buyouts

Boeing is cutting more than 12,000 jobs through layoffs and buyouts as it suffers from a sharp drop in air travel due to the coronavirus pandemic, and more cuts are coming. The compa...

Business Highlights

___ NEW YORK (AP) — Wall Street closed higher as hopes for economic recovery overshadow worries over the coronavirus pandemic. The S&P 500 jumped to a nearly three-month high, re...

US home price gains quickened in March as sales plunged

WASHINGTON (AP) — U.S. home prices accelerated in March even though sales plummeted, as those Americans still buying bid for a sharply diminished supply of homes. The S&P CoreLo...

Congress weighs choice: 'Go big' on virus aid or hit 'pause'

WASHINGTON (AP) — Congress is at a crossroads in the coronavirus crisis, wrestling over whether to “go big,” as House Speaker Nancy Pelosi wants for the next relief bill, or hit “pause,” as Senate Ma...

1st deadlines for laid-off workers to get health insurance

WASHINGTON (AP) — Many laid-off workers who lost health insurance in the coronavirus shutdown soon face the first deadlines to qualify for fallback coverage under the Affordable Care Act. ...

IBM cuts jobs around U.S. as new CEO looks for revival

ARMONK, N.Y. (AP) — IBM told the Wall Street Journal it is laying off an undisclosed number of workers across the U.S. IBM representatives didn't return numerous calls and emails Fri...

AP-NORC poll: Many in US won't return to gym or dining out

WASHINGTON (AP) — Much of the country remains unlikely to venture out to bars, restaurants, theaters or gyms anytime soon, despite state and local officials across the country increasingly allowing bu...

The Latest: India reports largest single-day virus spike

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause m...

China focus on jobs, fighting virus as layoffs sweep globe

BEIJING (AP) — China doubled down Friday on efforts to combat the coronavirus pandemic and create jobs as the number of people thrown out of work soars worldwide. The help for the w...

GOP weighs jobless aid cuts to urge Americans back to work

WASHINGTON (AP) — Reconsideration of jobless aid is fast becoming the focus of congressional debate over the next virus aid package After the Senate decided to take a “pause” on new ...

Bank of Japan helps fund small businesses fighting pandemic

TOKYO (AP) — Japan's central bank said Friday it will provide some 30 trillion yen ($280 billion) to banks for financing small and medium-size businesses battling economic hardships brought on by the ...