Caterpillar sales weaken but 2nd quarter results top Street
Caterpillar’s sales tumbled 31% in the second quarter as dealers culled construction equipment from showrooms during the pandemic. Dealers decreased machine and engine inventories by…
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Exxon lost $1 billion in second quarter as oil use dries up
NEW YORK — Exxon lost $1.1 billion in the second quarter, its economic pain deepening as the pandemic kept households on lockdown, diminishing the need…
China’s manufacturing improves in July, exports strengthen
BEIJING — China’s manufacturing activity edged up in July and export orders strengthened despite weak U.S. and European demand, a survey showed today, in fresh…
US average mortgage rates decline; 30-year loan at 2.99%
WASHINGTON — U.S. average rates on long-term mortgages declined this week, remaining near historic lows as the key 30-year loan slipped back below 3%. Mortgage…
Record surge in daily shipping volumes for UPS in 2nd quarter
The pandemic-fueled boom in online shopping shows no signs of slowing down, providing more business for delivery companies like United Parcel Service Inc. UPS said…
Pfizer executive targets end of year for COVID-19 vaccine
ANDOVER, Mass. — An executive at a Massachusetts facility helping create a potential vaccine for the coronavirus said today that the company hopes to have…
AstraZeneca: won’t profit from COVID-19 vaccine in pandemic
LONDON — Pharmaceutical company AstraZeneca repeated its promise not to profit from a COVID-19 vaccine during the pandemic as it reported it was on track…
Women embrace #challengeaccepted, but some ask: To what end?
CHICAGO — “Challenge accepted,” they wrote — female Instagram users across the United States, flooding the photo-sharing app with black-and-white images. Together they formed a…
Grubhub sees orders jump but swings to 2nd quarter loss
Grubhub’s average daily orders jumped 32% in the second quarter as the pandemic shut in diners, but the company swung to a loss as it…
US economy shrank at record-breaking 33% rate last quarter
WASHINGTON — The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever —…