Jul 30 Watch 7:58 How a crumbling antibiotics infrastructure could yield 'catastrophe' By Paul Solman The antibiotics industry has suffered an alarming collapse that has become even more troubling as secondary bacterial infections threaten patients with COVID-19. Why has production of these vital medicines stagnated, and what can be done to address the problem? Economics… Continue watching
Jul 30 Record economic plunge, bleak jobs numbers reveal virus toll By Martin Crutsinger, Paul Wiseman, Associated Press The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter. It is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating. Continue reading
Jul 30 Analysis: Cities hit hard by the COVID-19 pandemic face bankruptcy By Mark Davidson, Kevin Ward, The Conversation With sales tax revenues plummeting because of the pandemic, many cities will face bankruptcy – and that could affect everything from retirees' pensions to whether roads get fixed. Continue reading
Jul 30 U.S. economy shrank at record-breaking 33 percent rate last quarter By Associated Press WASHINGTON (AP) — The U.S. economy shrank at a dizzying 33% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work… Continue reading
Jul 29 Watch 9:50 Is U.S. regulatory framework capable of reining in big tech companies? The CEOs of Amazon, Apple, Facebook and Google encountered intense scrutiny from House lawmakers on Wednesday, particularly over whether they leverage unfair business practices to prevent their competition from succeeding. Is American antitrust law sufficient to handle the rapidly changing… Continue watching
Jul 29 Watch 7:14 As a virus ravages the world, antibiotic makers are in disarray By Paul Solman COVID-19 can be accompanied by secondary bacterial infections with deadly consequences. But the industry that researches and produces antibiotics to fight such illnesses has been upended -- and the pandemic is only making things worse. Now, medical experts worry about… Continue watching
Jul 29 WATCH: Trump seeks out loyal donors in West Texas fracking fields By Ellen Knickmeyer, Jonathan Lemire, Associated Press His visit on Wednesday comes during the state's fierce coronavirus outbreak. At the same time, a global oil and gas glut is putting the squeeze on Trump's loyal donors in the petroleum industry. Continue reading
Jul 29 Former oil boss faces more charges in Mexico corruption case By Associated Press A former government oil company chief who says he was "used" by "an organized apparatus of power" faces a new round of charges, though a judge has ruled he can stay out of prison while on trial. Continue reading
Jul 29 U.S. is expected to report a record-breaking economic plunge By Martin Crutsinger, Associated Press Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about the likelihood of any sustained recovery the rest of the year. Continue reading
Jul 29 Fed wrestles with its next moves as virus stalls U.S. economy By Associated Press The central bank is working toward providing more specific guidance on the conditions it would need to see before considering raising its benchmark short-term interest rate, which is now pegged near zero. Continue reading