Facebook launches a new TikTok clone, Instagram Reels
NEW YORK — Facebook’s Instagram is launching its answer to the hit short video app TikTok — Instagram Reels. The new Instagram feature will let…
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Services sector index increases to 17-month high in July
WASHINGTON — Activity in the services sector, where most Americans work, hit a 17-month high in July but economists fear that might be unsustainable because…
Treasury ramps up auctions as borrowing, virus surges
WASHINGTON — The Treasury Department will ramp up the size of the bonds and other securities it auctions across-the-board in the face of the unprecedented…
Survey: US companies cut back sharply on hiring in July
WASHINGTON — U.S. businesses sharply reduced hiring last month, suggesting that resurgent COVID-19 infections slowed the economic recovery as many states closed parts of their…
Japan’s Honda reports loss in April-June as virus hits sales
TOKYO — Japanese automaker Honda reported today that it sank into the red for the April-June quarter, as its sales plunged due to the coronavirus…
US trade deficit drops in June on record rise in exports
WASHINGTON — The U.S. trade deficit fell in June for the first time since February as exports posted a record increase, rising twice as fast…
CVS posts strong 2nd quarter, with virus delaying elective procedures
CVS Health reported surprisingly strong second-quarter earnings as people postponed elective medical procedures during the pandemic, and it raised its profit expectations for the year….
BMW reports loss for 2nd quarter but sees rebound in China
FRANKFURT, Germany — German automaker BMW lost 212 million euros ($250 million) in the second quarter as the coronavirus pandemic shutdowns cut vehicle sales by…
Wendy’s: 2nd quarter earnings snapshot
DUBLIN, Ohio — Wendy’s Co. today reported second-quarter net income of $24.9 million. On a per-share basis, the company said it had net income of…
Wall Street drifts as stock rally takes a pause; yields drop
NEW YORK — U.S. stocks are drifting between small gains and losses today as Wall Street takes a pause following its big rally over the…