Coronavirus
Amazon Deploys Social Distancing Software at US Warehouses
Amazon.com Inc. is deploying software in its warehouses to automatically warn employees when they are too close to colleagues, the latest effort by the retailer to adjust its facilities to life with the coronavirus.
Volvo Announces Plan to Cut 4,100 From Workforce
Volvo Group will reduce its white-collar workforce by 4,100 starting in the second half of the year as it confronts lower demand during the novel coronavirus pandemic.
OPEC Quota-Busters Start to Toe Line in June
Three OPEC members identified by their peers as failing to bring production down to target levels in May appear to have begun improving their compliance in June, if lower exports are any indication. But for the biggest overproducer, Iraq, that first step is a small one.
Perspective: Workers’ Comp in the COVID-19 Era
Trucking companies that were handling workers’ compensation claims before the coronavirus pandemic may find resolution of these claims stalled for reasons that have nothing to do with the worker’s injury, says Lori Ilgenfritz of Gallagher Bassett.
Powell Warns That Long Downturn Would Mean Severe Damage
Federal Reserve Chairman Jerome Powell said the U.S. economy faces a deep downturn with “significant uncertainty” about the timing and strength of a recovery.
Retail Sales Soared a Record 17.7% in May, Double Forecast
U.S. retail sales jumped in May by the most on record and double forecasts, regaining more ground than expected after unprecedented drops the prior two months as states allowed more merchants to reopen.
Fed Will Begin Buying Broad Portfolio of Corporate Bonds
The Federal Reserve said June 15 that it will begin buying individual corporate bonds under its Secondary Market Corporate Credit Facility, an emergency lending program that to date has purchased only exchange-traded funds.
Fears of Second Virus Wave Fizzle Oil Market
Oil fell again as a fresh coronavirus outbreak in China, and increases in cases elsewhere, spurred concerns that a second wave of the virus will derail a nascent economic recovery.
Texas Oil-Export Terminals Start Up Even as Shipments Tumble
Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for U.S. crude.
Caterpillar Sales Drop Highlights Worry of ‘Catatonic’ Recovery
Caterpillar Inc.’s machinery sales dropped by the most in 10 years last month in a sign of a deepening slump in its Americas businesses, where the company has extended plant shutdowns.