Economy

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Glimmers of hope for world economy, but dangers lurk

By Jeffrey Schaeffer, Alex Turnbull, Associated Press

The Organization for Economic Cooperation and Development predicted Tuesday that the world economy will bounce back to its pre-pandemic levels by the end of next year, but that recovery will be uneven across the countries.

Powell: Economic recovery 'unlikely until people are confident' in safety from virus

By Martin Crutsinger, Associated Press

In remarks released by the Fed on Monday, Powell said that the increase in new COVID-19 cases both in the United States and abroad was "concerning and could prove challenging for the next few months.

Biden announces senior economic team and plans to nominate Janet Yellen

By Aamer Madhani, Zeke Miller, Associated Press

In a statement, Biden said he would nominate Janet Yellen, the former Federal Reserve chair, to lead the Treasury Department, and former Clinton and Obama adviser Neera Tanden to serve as director of the Office of Management and Budget.

Tony Hsieh, retired Zappos CEO, dies at 46

By Associated Press

Hsieh was with family when he died Friday, according to DTP Companies, which he founded. He died of injuries suffered in a Nov. 18 fire in New London, Connecticut, Downtown Partnership spokesperson Megan Fazio told Hearst Connecticut Media on Saturday.

Virus keeps Black Friday crowds thin as shoppers shift online

By Associated Press

The raging coronavirus pandemic kept crowds thin at malls and stores across the country on Black Friday, but a surge in online shopping offered a beacon of hope for struggling retailers after months of slumping sales and businesses toppling into…

UN report: Israel's blockade has devastated Gaza economy

By Josef Federman, Associated Press

The findings, looking at an 11-year period ending in 2018, marked perhaps the most detailed analysis of the Israeli policy to date.

How deteriorating schools fuel the inequality crisis amid COVID-19

By Meredith Kolodner and Bracey Harris, Neal Morton, The Hechinger Report

The rampant spread of the coronavirus has exposed a crisis of crumbling and dilapidated school buildings brought on by decades of underfunding and neglect.

U.S. jobless claims rise to 778,000 as pandemic worsens

The Labor Department's report Wednesday said jobless claims climbed from 748,000 the week before.

Enbridge sues Michigan over oil pipeline shutdown order

By John Flesher, Associated Press

The Canadian company filed a federal lawsuit Tuesday against Michigan Gov. Gretchen Whitmer, who demanded earlier this month that Line 5 be closed within 180 days.

Dow crests 30,000 points on vaccine hopes, Biden transition

By Alex Veiga, Associated Press

The gains extend a monthlong market rally driven by growing optimism that development of coronavirus vaccines and treatments will loosen the pandemic's stranglehold on the economy.