KTEP - El Paso, Texas

Business

Business news

President Trump escalated his fight with Twitter with an attempt to strip long-held legal protections from online platforms. But what real effect will Trump's executive order have?

Hospitals lost millions of dollars preparing for a surge of COVID-19 patients. Some were swamped, but others only saw a handful of coronavirus cases. Now many are struggling to survive.

Violence escalates over the death of a black man in Minneapolis police custody, and a black woman killed by police in Louisville. And, the president signs an order to weaken social media companies.

The economic upheaval and social disruption caused by the coronavirus pandemic have upended the assumptions that many people made last fall about which insurance plan to sign up for or how much of their pretax wages to sock away in flexible spending accounts devoted to health care or dependent care.

NPR's business correspondent answers listener questions about safety at the workplace as more and more businesses are reopening around the country.

NPR's business correspondent answers listener questions about safety at the workplace as more and more businesses are reopening around the country.

NPR's science correspondent answers listener questions about the pace and process needed to develop a viable coronavirus vaccine.

Updated at 9:00 p.m. ET

President Trump signed an executive order Thursday aimed at limiting the broad legal protections enjoyed by social media companies, two days after he tore into Twitter for fact-checking two of his tweets.

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ourselves.

Again and again, we fail to act rationally and selfishly — the way traditional economics expects us to.

We've seen this during the coronavirus crisis: People selflessly mobilizing to help each other, like the retired Kansas farmer who sent an N95 mask to New York to help a nurse or a doctor.

Amid record-breaking unemployment numbers, Nevada stands out. The jobs crisis hit the state early and dug in deep. Unemployment there has soared to more than 28% — the highest in the nation and the highest for any state since 1976, when the U.S. Bureau of Labor Statistics began tracking this data.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

MARY LOUISE KELLY, HOST:

Copyright 2020 NPR. To see more, visit https://www.npr.org.

MARY LOUISE KELLY, HOST:

New York businesses can refuse entrance to anyone who doesn't wear a face mask, Gov. Andrew Cuomo said Thursday under his executive order that gives store owners the authority to decide whether patrons must wear a mask or other face coverings to enter.

Face masks are "amazingly" effective in slowing the spread of the coronavirus that causes COVID-19, the governor said.

"People have a right to jeopardize their own health (I don't recommend it)," Cuomo said via Twitter. "People don't have a right to jeopardize other people's health."

The United States put up another major roadblock this month against Huawei, as China's big telecommunications company moves to set up the latest 5G mobile networks worldwide.

On May 19, the Commerce Department issued new export rules to choke off Huawei's access to semiconductor chips it needs to build cellphones and 5G infrastructure.

Tens of millions of people are out of work because of the coronavirus pandemic, but Amazon says it's willing to keep 125,000 people it hired to deal with the online shopping spike as permanent workers.

The company hired 175,000 temporary workers as people stuck at home because of the pandemic switched to shopping online. Now Amazon says it's offering most of those workers permanent full-time jobs.

Updated at 9:38 a.m. ET

More than 1 in 4 U.S. workers have lost their jobs since the coronavirus crisis shut down much of the economy in March.

Just last week, another 2.1 million people filed for unemployment benefits, the Labor Department said Thursday. That's down 323,000 from the previous week but brings the total for the past 10 weeks to 40.8 million, which represents 26% of the civilian labor force in April.

President Trump is warning of possible sanctions this week against China over its treatment of Hong Kong. It's the latest source of friction in what's become an increasingly tense relationship between the world's two biggest economies.

Marc Short, the chief of staff to Vice President Pence, owns between $506,043 and $1.64 million worth of individual stocks in companies doing work related to the Trump administration's pandemic response — holdings that could run afoul of conflict of interest laws.

When the federal small business rescue program was announced, Krista Kern-Desjarlais scrambled to research it, talking to her banker and digging online.

Kern-Desjarlais runs two restaurants in Maine — the Purple House in North Yarmouth and Bresca & the Honeybee, a summer-only food stand on Sabbathday Lake. She decided to hold off on that coronavirus rescue effort, called the Paycheck Protection Program or PPP.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

The city attorney of Los Angeles announced Wednesday that his office is suing Wellness Matrix Group for allegedly engaging in a "fraudulent scheme" related to the COVID-19 pandemic that was both "sophisticated" and "wide ranging."

Updated at 8:40 p.m. ET

Boeing is cutting more than 12,000 jobs as the Chicago-based airplane manufacturer copes with the sudden drop in air travel demand due to the coronavirus pandemic.

Updated at 5:57 p.m. ET

For the first time in its nearly 130-year history, General Electric will no longer be making and selling lightbulbs. GE is selling its lighting business to Savant Systems.

GE was founded in 1892 by a merger between Thomas Edison's Edison General Electric Co., which made Edison's famous incandescent bulb as well as other inventions, and a rival business.

Avery Hoppa's job is practically pandemic-proof: She's a nurse who does triage over the phone. So her work is still necessary, and the transition to working from her home in Hanover, N.H., was smooth. Her husband, a biologist at Dartmouth College, had a slightly bigger adjustment to make when classes went virtual.

They're both still employed, and Hoppa says she feels "so incredibly grateful" about that during this massive economic crisis. Her family has been able to do things like buy a new car and get a good deal on it.

Updated at 5:36 p.m. ET

Tensions between President Trump and Twitter escalated Wednesday as he threatened to "strongly regulate" or shut down social media platforms, which he accused of silencing conservative viewpoints.

Casinos in Las Vegas and other Nevada cities can reopen next Thursday for the first time since the coronavirus forced the gaming industry to shut down more than two months ago, Gov. Steve Sisolak says. The state plans to revive its gaming industry nearly a week after it starts Phase 2 of its reopening this Friday.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

RACHEL MARTIN, HOST:

Copyright 2020 NPR. To see more, visit https://www.npr.org.

RACHEL MARTIN, HOST:

The race to defeat the coronavirus can be viewed in two very distinct ways. One is based on international cooperation, with a vaccine treated as a "global public good." The other is competitive, a battle between nations that's being described as "vaccine nationalism."

Many are hoping for the former, but are seeing signs of the latter.

Over the past few months, cities have had to deal with tremendous challenges — fighting a pandemic, preserving essential services, protecting their own workers, coping with devastating budget cuts.

One thing local officials didn't have to worry about was traffic, as the pandemic emptied city streets.

But that's about to change.

Pages