US jobless claims fall below 1 million but remain high
WASHINGTON — The number of Americans applying for unemployment dropped below 1 million last week for the first time since the coronavirus outbreak took hold in the U.S. five months ago, but layoffs are still running extraordinarily high.The figures show that the crisis continues to throw people out of work just as the expiration of an extra $600 a week in federal jobless benefits has deepened the hardship for many — and posed another threat to the U.S. economy.Applications for jobless benefits declined to 963,000, the second straight drop, from 1.2 million the previous week, the government sai...
Tribune News Service
Lowe's ramps up faster home delivery nationwide with more distribution centers
Lowe’s is expanding for faster home delivery nationwide.Over the next 18 months, the North Carolina-based home improvement company will open 50 delivery terminals, seven distribution centers and four e-commerce fulfillment centers, Lowe’s announced Wednesday.The goal is to enable faster e-commerce shipping with more same-day and next-day delivery across the country, the company said in a news release said.“Opening these new facilities will allow our stores to operate more efficiently … and improve the customer experience with more predictable deliveries, better in-stock rates and faster fulfil...
The Charlotte Observer
Cubs return from layoff with a 7-1 victory over the Indians behind Jason Heyward's 4 RBIs
CLEVELAND — A four-day layoff gave the Chicago Cubs extra time to hear about the effectiveness of the Cleveland Indians pitching staff.So when play resumed Tuesday night, the Cubs found a variety of ways to chip away and eventually end the Indians’ 17-game streak of allowing four runs or fewer in a 7-1 victory at Progressive Field.“We’re pretty aware of it,” Jason Kipnis said of the Indians’ streak before the game.Jason Heyward delivered the most convincing blow with a three-run home run to cap a five-run sixth inning. Heyward’s four-RBI performance enabled the Cubs and Jon Lester to pull away...
'This is my happy place.' Sammy Watkins fine with less money, output to stay in KC
Part I: Sammy Watkins would like to be bigger component of the Chiefs’ offense. He thought he would be when he signed a $48 million deal in 2018.Part II: Sammy Watkins is happy in Kansas City. Wanted to come back this year. Even took less money to do it.Both parts can be true.Both are true, he emphasized Sunday, his first meeting with media since agreeing to restructure his contract to stay in Kansas City.“I think every receiver or any player wants to go out there and do well and score touchdowns or catch as many balls as you possibly can and get the yards. Myself, I want those types of things...
The Kansas City Star
Former Tribune Publishing CEO to take helm of McClatchy when newspaper chain emerges from bankruptcy
Former Tribune Publishing CEO Tony Hunter will become CEO of McClatchy Co. when the newspaper chain emerges from Chapter 11 bankruptcy next month, its new hedge fund owner announced Friday.A longtime Chicago Tribune executive who helped guide Tribune Publishing out of bankruptcy as CEO from 2011 to 2014, Hunter will inherit a similar situation at McClatchy under Chatham Asset Management.The New Jersey hedge fund acquired McClatchy, which publishes the Miami Herald and other major newspapers, for about $312 million at a bankruptcy auction in July. The sale, which was approved by a New York bank...
UnitedHealth Group profit doubles to $6.6 billion with COVID-19 slowdown
UnitedHealth Group’s second-quarter profit jumped to $6.6 billion — double the earnings from the same period last year, and far beyond expectations — as the nation’s largest health insurer paid out far fewer claims with the temporary shutdown of elective procedures due to COVID-19.The Minnetonka, Minn.-based health care giant said Wednesday that profits were substantially higher than normal because of the unprecedented delay in elective and nonemergency procedures, as hospitals and clinics prepared for and responded to the pandemic.After leveling off in May, COVID-19 cases have begun to spike ...
Star Tribune (Minneapolis)
Delta posts quarterly loss, 17,000 employees sign up for buyouts and early retirements
ATLANTA — Delta Air Lines had a $5.7 billion net loss for the second quarter and is cutting its workforce through buyouts and early retirements.More than 17,000 employees have signed up to take early retirements or buyouts, according to Delta.That’s about 20% of the company’s workforce. The voluntary departures are expected to help reduce the need for involuntary furloughs or layoffs.“I’m optimistic if we do have a furlough, it’s going to be relatively small numbers,” Delta CEO Ed Bastian said during remarks on CNBC Tuesday.The quarterly loss reflects “the truly staggering impact” of the coron...
The Atlanta Journal-Constitution
The NBA is considering a 2nd bubble in Chicago for its bottom 8 teams, including the Bulls
During a conference call with reporters shortly after the Chicago Bulls’ 2019-20 season ended abruptly last month, executive vice president of basketball operations Arturas Karnisovas expressed both concern about his new team facing a near nine-month layoff between games and confidence that the NBA would find a way for the eight teams not invited to Orlando, Fla., to participate in some sort of basketball activities.That idea began to take shape last week, when reports surfaced that the league was in advanced considerations about creating a “second bubble” in Chicago for those eight teams, wit...
1,250 workers facing layoffs at GM's Wentzville Assembly Plant
General Motors will lay off its third shift of workers at the assembly plant where it builds its midsize pickups and full-size vans as cases of coronavirus surge in the surrounding community.The automaker said starting July 20 it will reduce its Wentzville Assembly plant, which is near St. Louis, Mo., to two shifts.“We believe in the short term a two-shift operation plan will allow us to operate as efficiently as possible and accommodate team members who are not reporting to work due to concerns about COVID-19 in the local community,” GM spokesman David Barnas told the Free Press on Saturday.B...
Detroit Free Press
Factory jobs get a boost from PPE manufacturing
As factories start bringing back workers laid off at the beginning of the pandemic, some are retooling to meet coronavirus-related demands.Designetics, a firm near Toledo, Ohio, that makes windshield coating systems, now has about half its 73 workers trained to make custom protective barriers to prevent coronavirus transmission.The switch started when a local hospital asked for a particular size barrier for ultrasound sessions with expectant mothers. Orders flowed in from grocery stores, restaurants and beauty salons. Even a Tucson, Ariz., art gallery ordered transparent barriers to keep its a...