Office Depot closing stores, laying off 13,000 workers

Office Depot announced a restructuring plan that includes closing stores and laying off about 13,100 employees by 2023.

JCPenney files for bankruptcy as coronavirus pushes retailer over edge

Retailer JCPenney filed for Chapter 11 bankruptcy protection after the coronavirus pandemic forced stores to shut, the company announced Friday evening, joining J. Crew and Neiman Marcus.

Industrial production plunges unprecedented 11.2% in April

Industry was running at 64.9% of capacity last month, shattering the previous record low set in the Great Recession year 2009. Factory capacity utilization also hit a record low 61.1%.

US retail sales plunged 16% in April as virus froze economy

U.S. retail sales tumbled 16.4% from March to April as business shutdowns caused by the coronavirus kept shoppers away, threatened stores across the country and weighed down a sinking economy.

FBI warns of scam targeting grandparents in New Jersey

Federal investigators in New Jersey are warning against a fraud scam that has swindled grandparents and the elderly out of close to $1 million.

3 million more US layoffs intensify fears of lasting damage

Roughly 36 million people have now sought jobless aid in just the two months since the coronavirus first forced businesses to close down and shrink their workforces, the government said Thursday.

Stocks jump on banking M&A talk, coronavirus vaccine progress

U.S. equity markets curbed losses and finished at session highs as financials led on renewed M&A speculation and comments from President Trump signaled the U.S. could have a coronavirus vaccine by year-end.

Stocks slide as Powell says Fed fighting worst slump since WWII

U.S. stock markets tumbled Wednesday after Federal Reserve Chairman Jerome Powell said the central bank will take further steps to combat the worst downturn since World War II.

UN forecasts pandemic to shrink world economy by 3.2 percent

The United Nations forecast Wednesday that the COVID-19 pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the 1930s.

Consumers, lawmakers rip airlines for withholding refunds

Some airlines are being slammed for not offering full refunds to travelers who had to cancel their flights due to the COVID-19 pandemic.

Grocery store prices rose last month amid COVID-19 pandemic

The price index for meats, poultry, fish and eggs increased the most, according to the U.S. Bureau of Labor Statistics.

N.J., Del. to hire 1,200 contact tracers as part of COVID-19 response

Two local states are poised to hire at least 1,200 people to assist with contact tracing to assist with detecting and stopping new virus clusters before they get out of control.

Taxpayers foot bill to supply Pa. legislators, army of aides

It takes hundreds of millions of taxpayer dollars a year for the Pennsylvania General Assembly to maintain one of the country's largest legislative staffs, a small army that needs food, shelter, transportation, office supplies and modern electronics.