Wells Fargo is preparing to cut thousands of jobs, according to Bloomberg. What does this new round of layoffs across the economy mean? And, one civil rights leader who’s met with Facebook describes how the company needs to change.
by Sabri Ben-Achour, Rose Conlon and Alex Schroeder
Daniel Leal-Olivas/AFP via Getty Images
“It shouldn’t be my nonprofit that has to be monitoring and focusing its energy on a corporation that makes $70 billion a year,” said Color of Change President Rashad Robinson.
A Supreme Court decision Thursday affirmed about half of Oklahoma is Native American reservation land. Hong Kong is closing all schools again after a spike in COVID-19 cases. And, why Puerto Rico is giving up control of its power grid.
Emirates airline warns it could make up to 9,000 job cuts because of COVID-19. Could the U.S. lose its appeal to international students? And, how restrictions on the hajj pilgrimage are hurting businesses in Saudi Arabia.
Three years after Hurricane Maria destroyed Puerto Rico’s electric grid, the island is still dealing with unreliable service and intermittent power outages, especially in rural areas.
States that are seeing large spikes in COVID-19 cases are also seeing jumps in first-time unemployment claims. The Supreme Court rules on who can have access to President Trump’s tax records. And, should internet service be treated like a utility?
Many bar and restaurant employees went back to work in June. New COVID-19 spikes and shutdowns might be sending them back home. Plus, potential furloughs for United Airlines. And, how Americans are spending pandemic unemployment insurance.
The wealthy city-state of Singapore heads to the polls amid rising concerns about socioeconomic inequality. Australia ignites more fury from China, its biggest trading partner. As disease ravages global pork stocks, could fake meat be the answer?
Plus: How some states are starting to close the racial pay gap, what bankrupted Brooks Brothers and why Disney World is reopening as COVID-19 cases spike.
President Trump pushes for schools to reopen this fall. Looking forward to Thursday’s forthcoming jobless claims numbers, as we wait to see if people are getting back to work amid COVID-19 spikes. And, how summer camp closures are hitting parents.
An investigation by Reveal from the Center for Investigative Reporting shows workers in rehab programs often don’t get paid. Plus, global joblessness is rising 10 times faster than during the Great Recession. And, how pay cuts have helped save jobs.
The U.K.’s $2.5 billion “kick-start scheme” to create more jobs for young people after the pandemic. The latest on how the coronavirus is squeezing jobs in China. The CEO of Loon on providing internet to rural Kenya using balloons.
How COVID-19 is changing where people live. Will we see a rebound in the demand for labor after declines in the spring? Job openings numbers for May are out today. And, how the U.K. has kept its unemployment rate down.
The PPP data raises questions, again, about whether aid helped well-off businesses rather than those most in need. Extended federal unemployment benefits are coming to an end. And, why it matters that carbon dioxide is currently in short supply.
TikTok has said it will withdraw from Hong Kong after China imposed a new security law on the city. Also, whether the U.K. furlough scheme for workers has saved millions of jobs or just delayed the inevitable.
Uber is buying food-delivery service Postmates. Plus, an early look at why market futures were up all morning. And, how does the cancellation of minor league baseball this year affect the towns where teams play?
Berkshire Hathaway Energy has announced it will acquire Dominion Energy’s natural gas transmission and storage business. The Louvre Museum in Paris is reopening. And, is a tax on the meat industry and its carbon emissions coming soon?
Visitors have been welcomed back to Paris’ Louvre Museum for the first time since March. Plus, the biggest shake-up in U.K. accounting in decades. And, two years since the U.S.-China trade war began, where things stand now.