U.S. warns airlines to quickly refund tickets after canceled flights

FILE PHOTO: American Airlines passenger planes crowd a runway where they are parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. REUTERS/Nick Oxford WASHINGTON (Reuters) – The U.S. Transportation Department on Friday issued a notice to airlines reminding them […]

U.S. airlines face deadline to apply for federal payroll grants

CHICAGO/WASHINGTON (Reuters) – U.S. airlines and airport contractors faced a deadline of 5 p.m. EDT (2100 GMT) on Friday to tap the federal government for up to $32 billion in payroll grants to keep workers employed while they ride out the economic toll of the coronavirus on their business. FILE PHOTO: Delta Air Lines passenger […]

U.S. small businesses flood Bank of America with loan applications

(Reuters) – Bank of America Corp (BAC.N) said on Friday it has already received about 35,000 applications for federally backed small-business loans within hours of starting to accept them. FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri The […]

Canada signs agreement with Amazon Canada to distribute medical equipment

FILE PHOTO: Canada’s Prime Minister Justin Trudeau speaks during a news conference at Rideau Cottage as efforts continue to help slow the spread of coronavirus disease (COVID-19), in Ottawa, Ontario, Canada March 29, 2020. REUTERS/Blair Gable OTTAWA (Reuters) – Canada has signed an agreement with Amazon Canada (AMZN.O) to ensure medical equipment is delivered where […]

Dollar gains on safe-haven bids; shrugs off horrible U.S. jobs number

NEW YORK (Reuters) – The dollar firmed against major currencies for a third straight day on Friday, as investors took shelter in the U.S. currency amid worsening economic fallout from the coronavirus pandemic. A trader shows U.S. dollar notes at a currency exchange booth in Karachi, Pakistan December 3, 2018. REUTERS/Akhtar Soomro “As we see […]

Deep oil output cuts won't offset unprecedented demand loss: IEA

FILE PHOTO: Fatih Birol, Executive Director of the International Energy Agency, speaks with the media during the International Energy Forum (IEF) in New Delhi, India, April 11, 2018. REUTERS/Altaf Hussain LONDON (Reuters) – Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of […]

OPEC+ debates biggest-ever oil cut as virus destroys demand

DUBAI/LONDON/MOSCOW (Reuters) – OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, after the U.S. president called on producers to stop the market rout caused by the coronavirus pandemic. FILE PHOTO: An oil pump jack pumps oil in […]

Decade of Job Growth Comes to an End, Undone by a Pandemic

The longest stretch of job creation in American history came to a halt last month, the Labor Department reported Friday, another reflection of the coronavirus pandemic that has brought the economy to a virtual standstill. Compared with the astounding numbers of people recently applying for unemployment benefits — nearly 10 million in the previous two […]

Brent crude jumps above $33 on hopes of oil output deal

NEW YORK (Reuters) – Crude futures surged for a second day on Friday, with benchmark Brent up 11% on hopes that a global deal to cut crude supply worldwide will emerge early next week. On Thursday, oil staged its largest one-day rally in history on prospects for a cut in supply equivalent to anywhere from […]

Global stocks edge lower on economic toll from coronavirus; oil rallies

NEW YORK (Reuters) – Global stock markets sank on Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply. Investors sought out safe havens in the U.S. dollar and government bonds, pushing U.S. Treasury yields […]

Wall Street falls as coronavirus ends record job growth

(Reuters) – Wall Street’s main indexes fell on Friday as the longest period of employment growth on record in the United States came to an abrupt end, with data showing that hundreds of thousands of people lost their jobs last month due to the coronavirus. FILE PHOTO: The floor of the New York Stock Exchange. […]

A Coffee C.E.O.’s Pandemic Diary: ‘We Want to Still Provide an Escape’

A month ago, Nick Stone had a $50 million coffee business, with dozens of cafes in bustling downtowns. Now the coronavirus pandemic has eliminated 90 percent of Bluestone Lane’s revenue, and he has laid off some 700 workers. “Everything I’ve put into this, everything all these other people have put into building the company, basically […]

An American Client Base Is Pivotal to UK Business Success

Photo by freestocks on Unsplash Once your business begins to grow in the UK, you’ll begin to think further afield. If you think your opportunities are limited here, then you need to start focusing on international markets. The US is one of the best countries in the world to do with business with. If you can build a […]

Global Briefing: Norway smashes EV sales, again

All the green business news from around the world this week Three quarters of cars sold in Norway boast plugs Norway has long been the poster child for the electric vehicle (EV) transition thanks to its generous subsidies and impressive recharging infrastructure, but the latest sales figures from the Nordic nation will still raise eyebrows […]

How Tech’s Lobbyists Are Using the Pandemic to Make Gains

WASHINGTON — Last month, lobbying groups representing advertising giants like Google and Facebook asked California’s attorney general to wait to enforce the state’s new online privacy rules given the coronavirus ripping around the world. In Washington, lobbyists representing cloud computing giants like Amazon pushed for more money to help federal employees work remotely. And Uber […]

‘A Seismic Shock’: Jittery Companies Pull Back on Ads During Pandemic

The billboard was blank. In all the times Takeshi Sato had walked through Shibuya Crossing, Tokyo’s answer to Times Square, he had been more or less surrounded by ads. But on March 23, he noticed something strange looming over the pedestrians: an empty sign. “I thought, ‘Oh, this is not normal,’ and I remember feeling […]

Profiteers and Pool Noodles: The Mask Market Is a Total Mess

Last month, Susan Houghtelling, a hospital supply-chain manager in upstate New York, was facing a shortfall of medical supplies when her inbox suddenly flooded with offers. There were advertisements for gallons of hand sanitizer, crates of isolation gowns and, most crucially, pallets of N95 masks — perhaps the most sought-after product on the planet. All […]

‘This Isn’t a Dry Run’: How to Be Ready for More Financial Pain

When thousands of people are sick and dying, the stock market isn’t the world’s most pressing problem. It may even be unseemly to worry about it at all. Yet the market’s steep fall matters, not just for hedge fund investors but for millions of hardworking people who have poured their savings into it, hoping to […]

Green battle lines drawn over road and aviation industry bailouts

Civil society, researchers, and business leaders argue that multi-million pound transport industry bailouts must come with climate-friendly conditions attached While the length of the current health crisis is near impossible to predict, debates on the size, shape, and allocation of bailouts to the UK’s transport sector are already in full swing, with many commentators urging […]

E.P.A. Threatens Legal Action Against Sellers of Fake Coronavirus Cleaners

WASHINGTON — The Environmental Protection Agency warned Friday that disinfectants and sanitizers falsely claiming to protect against the coronavirus are flooding the market and threatened legal action against retailers that sell unregistered products. A necklace containing chlorine dioxide, a bleaching agent, that supposedly sanitizes the wearer is among the bogus products, as is a sticker […]

The Business Leaders Trump Asks for Advice on the Coronavirus

Want this in your inbox each morning? Sign up here. Where the president gets his advice Maggie Haberman, a star White House correspondent at The Times, joined us yesterday for a wide-ranging conference call with DealBook readers about the Trump administration’s response to the coronavirus pandemic. (Listen to a recording of the call here.) Among […]

Government offers £3.25m to help combat coronavirus food waste spike

Food redistribution charities urged to apply for funding to help prevent 14,000 tonnes of surplus food going to waste amid Covid-19 disruption More than £3m is being offered by the government to help prevent food waste during the coronavirus crisis, with the funding aimed at supporting the redistribution of up to 14,000 tonnes of surplus […]

UK indoor farming tech firm Vertical Future secures £1.1m investor backing

Green investor Earthworm ups its support for London food technology firm as it eyes significant growth for urban and indoor farming The UK’s nascent vertical farming sector appears to be attracting growing investor interest, with London-based Vertical Future securing an additional £1.1m backing from green impact investor Earthworm. Having already been the lead investor in […]

Take Government Aid? We’ll See, Some Businesses Say

Grants, low-interest loans and other government support might seem like manna for businesses under financial strain. But some chief executives and corporate boards might balk at the offer of billions of dollars in aid to help them ride out the coronavirus pandemic and keep the economy from sliding into a deep recession. Already, some corporate […]

The Unemployment Rate Is Probably Around 13 Percent

[embedded content] The jobless rate today is almost certainly higher than at any point since the Great Depression. We think it’s around 13 percent and rising at a speed unmatched in American history. The labor market is changing so fast that our official statistics — intended to measure changes over months and years rather than […]

Coronavirus Response

Leading figures from across the green economy offer their perspectives on how to respond to the Covid-19 crisis BusinessGreen asked some of the top experts from across the green economy how they thought the coronavirus crisis would impact the sector and how businesses should respond. Their many and varied responses make for essential reading.

Why Is Getting a Refund From an Online Travel Agency So Hard?

Travel and travel planning are being disrupted by the worldwide spread of the coronavirus. For the latest updates, read The New York Times’s Covid-19 coverage here. For many travelers looking to save money, booking through a third party site like Expedia, Priceline or Kayak has become second nature, especially for those looking for last-minute travel […]

Not just biofuels: Algae’s next wave

Biobased materials, particularly in the thorny realm of bioplastics, are a polarising subject. But for as many systemic kinks that their management lays bare, the slew of potential long-term benefits to swapping out petroleum-based products for plant-based alternatives is hard to ignore.  While sugar cane and corn are popular feedstocks, their frequent reliance on synthetic fertilizers, […]

Dirty air, tailpipes, and COVID-19

Air pollution impacts how the human body can fight infections and viruses – it is time for governments and businesses to recognise these risks Much has been written in recent weeks comparing the shocking and oppressive impacts of COVID-19 and future effects of climate change. But one of the most important links could be the one right […]

Thrive: Problems, possibilities and potential

Photo: Shutterstock. I wrote recently that there are many, many businesses that should be thriving right now, rather than struggling. Your response was huge. Many of you asked me to share more of the thrive strategies I work on with my clients. So, that’s what today’s post is all about. I hope you find it both […]

Coronavirus likely ended record U.S. job growth in March

WASHINGTON (Reuters) – The U.S. economy likely shed jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, confirming a recession is underway. FILE PHOTO: People walk on a temporarily closed section of the Grand Concourse during the outbreak of […]

When will U.S. economy bottom? Economists hunt for the right view

WASHINGTON (Reuters) – The economic crisis spawned by the coronavirus pandemic has produced a wave of grim U.S. data, with likely more to come as millions lose jobs, businesses shutter and spending stops. FILE PHOTO: People practice social distancing while spending time outdoors in the West Seattle neighborhood during the coronavirus disease (COVID-19) outbreak in […]

Small-Business Relief Effort ‘a Mess’

This briefing is no longer updating. Read the latest developments in the coronavirus outbreak here. Here’s what you need to know:Lenders prepare for a rocky start to the small-business loan program.Oil prices surge after Trump tweets about production cuts.6.6 million more people joined the U.S. unemployment rolls last week.The Treasury Department hires investment banks to […]

Airline industry braces for lengthy recovery from coronavirus crisis

SYDNEY/WASHINGTON (Reuters) – International seat capacity has dropped by almost 80% from a year ago and half the world’s airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic. FILE PHOTO: A British Airways plane taxis past tail fins of parked aircraft to the runway […]

Petrobras says talks among Russia, Saudi Arabia, U.S. 'irrelevant' for oil prices

FILE PHOTO: Roberto Castello Branco, CEO of Petroleo Brasileiro S.A. (PETROBRAS), speaks during a compliance event in Rio de Janeiro, Brazil December 9, 2019. REUTERS/Sergio Moraes RIO DE JANEIRO (Reuters) – Recent negotiations involving leaders from major oil-producing nations and the United States will prove irrelevant for oil prices, which are low because of depressed […]

Oil Prices Fall in Asia After Thursday Surge: Live Updates

[embedded content]Here’s what you need to know:Asian stocks fall as Wall Street’s rally fades.Oil prices surge after Trump tweets about production cuts.The monthly jobs report on Friday is expected to end almost a decade of gains. ImageThe foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul on Friday.Credit…Ahn Young-Joon/Associated PressAsian stocks fall […]

Oil, shares slip on doubts over Saudi-Russia deal

TOKYO/NEW YORK (Reuters) – Oil prices retreated on Friday after massive gains, while stocks in Asia edged down, as doubts grew over an oil price deal between Saudi Arabia and Russia that U.S. President Donald Trump said he had brokered. FILE PHOTO: A pedestrian wearing a face mask rides an escalator near an overpass with […]

Explainer: How the coronavirus crisis is affecting food supply

SINGAPORE (Reuters) – The coronavirus pandemic has disrupted global food supplies and is causing labour shortages in agriculture worldwide. FILE PHOTO: A view shows ears of wheat in a field owned by the “Siberia” farming company during sunset outside the village of Ogur in Krasnoyarsk Region, Russia September 8, 2019. Picture taken September 8, 2019. […]

Oil falls on scepticism over Trump's Saudi-Russia output deal

SINGAPORE (Reuters) – Oil prices fell on Friday, coming off their biggest one-day gains in the previous session, after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. FILE PHOTO: The sun sets behind a crude oil pump […]

Exclusive: Neiman Marcus advances bankruptcy preparations – sources

NEW YORK (Reuters) – Neiman Marcus Group is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, people familiar with the matter said on Thursday. FILE PHOTO: Shoppers enter and exit the Neiman Marcus at the King of Prussia Mall, United […]

Trump says 3M 'will have a big price to pay' over face masks

U.S. President Donald Trump listens during the daily coronavirus response briefing at the White House in Washington, U.S., April 2, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – President Donald Trump slammed 3M Co (MMM.N) in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act to get the company to produce […]

Trump Administration Officials Weigh How Far to Go on Recommending Masks

WASHINGTON — The Trump administration is close to recommending that all Americans wear cloth masks if they go out in public, a change in position that reflects new concerns that the coronavirus is being spread by infected people who have no symptoms and new data suggesting the United States is not yet slowing the rate […]

Debt Busting: 5 Steps to Financial Health in Business

Feature Photo by Artem Beliaikin from Pexels Owners of businesses of all sizes struggle with debt. Start-up costs, staffing, maintenance, and the minutiae of providing for a successful business can lead to overwhelming debt burdens. This can significantly affect the quality of life for business owners. So if you’ve got debt hanging over you, these are five steps […]

Trump Administration Scales Back Paid Leave in Coronavirus Relief Law

WASHINGTON — The Trump administration has substantially scaled back paid leave requirements for employers that were created by a new coronavirus relief law, effectively exempting many small businesses in a move that infuriated lawmakers who had fought to expand the benefit. In guidance issued on Wednesday, the Labor Department said that employers at companies with […]

The N.R.A. Sees a Threat, and an Opportunity, in Covid-19

Faced with budget pressures and an invigorated gun control movement, the National Rifle Association has found a new cause amid the pandemic — fighting to keep gun stores open as its fund-raising appeals depict the government’s coronavirus response as a threat to Second Amendment rights. On Thursday, the group sued the State of New York […]

Hackney Council announces it is fully powered by renewables

A skyline view of central London from Hackney. Credit: Wikimedia Commons The clean energy milestone comes just weeks after Hackney Council revealed plans to open a ‘library of things’ where citizens can borrow useful items in a bid to reduce household waste. Hackney Council has this week revealed that it is now sourcing all of […]

Essential Drug Supplies for Virus Patients Are Running Low

Across the country, as hospitals confront a harrowing surge in coronavirus cases, they are also beginning to report shortages of critical medications — especially those desperately needed to ease the disease’s assault on patients’ respiratory systems. The most commonly reported shortages include drugs that are used to keep patients’ airways open, antibiotics, antivirals and sedatives. […]