NBC's video service Peacock stresses 'free,' looks to 2021
Peacock, one of the last major streaming services to launch in the U.S., was supposed to get a big boost this summer by carrying the Olympics.
Wall Street rebounds after yet another yo-yo day of trading
NEW YORK (AP) — Wall Street rebounded on Tuesday, and the S&P 500 more than made up all its losses from the day before, after stocks pinballed through another day of erratic trading.
First COVID-19 vaccine tested in US poised for final testing
The first COVID-19 vaccine tested in the U.S. revved up people’s immune systems just the way scientists had hoped, researchers reported Tuesday -- as the shots are poised to begin key final testing.
UK backtracks on giving Huawei role in high-speed network
LONDON (AP) — Britain on Tuesday backtracked on plans to give Chinese telecommunications company Huawei a role in the U.K.’s new high-speed mobile phone network amid security concerns fueled by rising tensions between Beijing and Western powers.
Fed's Brainard warns US economy may slow, urges more support
WASHINGTON (AP) — Federal Reserve Governor Lael Brainard warned Tuesday that the U.S. economy appears to be slowing after an initial burst of recovery and called for the Fed to take aggressive steps to bolster growth.
Campaign brewing to get Hindu god Brahma off popular beer
An interfaith coalition is pressing the world's largest brewer to remove the name of a Hindu god from a popular beer that dates to the late 1800s — a dispute the beermaker insists is a case of mistaken identity.
White House-backed campaign pushes alternate career paths
WASHINGTON (AP) — Presidential adviser Ivanka Trump on Tuesday unveiled a White House-backed national ad campaign highlighting alternative ways to start a career, an initiative targeting students, mid-career workers and the millions who are now unemployed because of the coronavirus.
Banks set aside billions, bracing for more economic pain
NEW YORK (AP) — With tens of millions of Americans out of work and many businesses shut down or operating under restrictions due to the coronavirus, three of the nation's biggest banks set aside nearly $30 billion in the second quarter to cover potentially bad loans that were fine only a few months ago.
“Growth has stalled": Surge in US infections hits Delta
Delta Air Lines lost $5.7 billion during a brutal three-month stretch in which the coronavirus pandemic brought travel to a near standstill, and any hoped-for recovery has been smothered by a resurgence of infected Americans.
Retirees in Greece win court battle for bailout refund
ATHENS, Greece (AP) — A high court in Greece ruled Tuesday in favor of retirees who brought a class action case to demand the reimbursement of money cut from their income during international bailouts.
Demand for robot cooks rises as kitchens combat COVID-19
HAYWARD, California (AP) — Robots that can cook - from flipping burgers to baking bread - are in growing demand as virus-wary kitchens try to put some distance between workers and customers.
Wells Fargo loses $2.4 billion in 2Q, first loss since 2008
Silver Spring, Md. (AP) — Wells Fargo lost $2.4 billion in the second quarter, the first quarterly loss for the bank since the real estate crash of 2008.
Spiking cost of gasoline pushes June consumer prices up 0.6%
WASHINGTON (AP) — U.S. consumer prices increased 0.6% in June, after three months of declines, with a big jump in gasoline prices accounting for over half of the gain.
JPMorgan profit hit hard by pandemic, as consumers struggle
NEW YORK (AP) — The coronavirus pandemic is weighing heavily on the financial health of JPMorgan Chase, as the nation’s largest financial company set aside billions in the second quarter to cover potential losses from all the businesses and consumers who are unable to pay their debts due to the slumping economy.
Singapore economy contracts 41% on quarterly basis
SINGAPORE (AP) — Singapore's economy entered recession in the April-June quarter, contracting 12.6% from the same period a year earlier.
Huawei posts 13.1% revenue growth amid pandemic, sanctions
HONG KONG (AP) — Huawei Technologies reported Tuesday that its revenue grew 13.1% in the first half of the year compared with a year earlier, despite sanctions from the U.S and challenges from the coronavirus pandemic.
UK economic bounceback falls short of V-shaped recovery hope
LONDON (AP) — The British economy grew by far less than anticipated during May, dampening hopes that the recovery from what is set to be one of the country's deepest recessions in centuries will be rapid.
Small businesses worldwide fight for survival amid pandemic
Hour after hour in the dark, Chander Shekhar’s mind raced ahead to morning. More than three months had dragged by since the coronavirus forced Shekhar to shut down his business — a narrow, second-floor shop racked with vibrantly colored saris, on a block in New York’s Jackson Heights neighborhood once thronged with South Asian immigrant shoppers.
China's trade rises as economy recovers from virus slump
BEIJING (AP) — China’s trade improved in June in a fresh sign the world’s second-largest economy is recovering from the coronavirus pandemic.
Asia shares drop on jitters over virus, China-US friction
TOKYO (AP) — Shares fell in Asia on Tuesday as skepticism set in about the recent upward momentum in global markets given rising confirmed coronavirus cases and percolating tensions between the U.S.
US budget deficit hits all-time high of $864 billion in June
WASHINGTON (AP) — The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues.
US debates school reopening, WHO warns 'no return to normal'
MIAMI (AP) — The resurgence of the coronavirus in the United States ignited fierce debate Monday about whether to reopen schools, as global health officials warned that the pandemic will intensify unless more countries adopt comprehensive plans to combat it.
Strong demand for virus testing services; snacking surges
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to the national and global response, the work place and the spread of the virus.
Analog Devices buys Maxim, creating $68 billion chipmaker
NEW YORK (AP) — Computer chip maker Analog Devices is buying Maxim Integrated in an all-stock deal that will create a company worth about $68 billion, and strengthens its position in the analog semiconductor sector.
EU, Turkey clash over Hagia Sophia, Mediterranean drilling
BRUSSELS (AP) — Turkey and the European Union clashed on Monday over Ankara's decision to change the status of Hagia Sophia from a museum to a mosque and its continued energy exploration in disputed Mediterranean waters.