Pleasanton-based Specialty's Café and Bakery announces closure after 33 years due to COVID-19
It's last day of operation would be Tuesday, the company said in an announcement posted Sunday on its website.
Oakland e-commerce fulfillment company shifts to packing COVID-19 test kits
In the last three weeks, they’ve sent more than 200,000 tests to medical facilities all over the country.
Office Depot announces restructuring plan including closing stores and laying off 13,000 workers
The company estimates that its restructuring plan will be "substantially completed" by 2023.
Tesla picks Austin, Tulsa as finalists for new US factory
Tesla has picked Austin, Texas, and Tulsa, Oklahoma, as finalists for its new U.S. assembly plant, a person briefed on the matter said Friday.
Pandemic pushes J.C. Penney into Chapter 11 bankruptcy
The coronavirus pandemic has pushed troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate.
US retail sales plunged 16% in April as virus froze economy
U.S. retail sales tumbled 16.4% from March to April as business shutdowns caused by the coronavirus kept shoppers away, threatened stores across the country and weighed down a sinking economy.
Oakland chef feeds unemployed restaurant workers
According to the National Restaurant Association, 8 million people in the industry have been laid off or furloughed, with roughly two out of three employees out of a job.
Unemployment hits yet another new high in California
With the nearly 3 million new unemployment claims filed this week, the U.S. now has seen 35.5 million workers file for benefits in the last 2 months. We are at the point where we must balance money and jobs with disease and death.
Powell warns of a possible sustained recession from pandemic
Additional rescue aid from government spending or tax policies, though costly, would be “worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” Federal Reserve Chair Jerome Powell said.
Frustrated with COVID-19 shutdown, Elon Musk threatens to move Tesla HQ and Fremont factory out of California
In a series of tweets Saturday morning, Musk announced he would move the company's headquarters and flagship Fremont factory, as well as future programs to Texas and Nevada - out of California.
Another 3.2 million Americans filed for unemployment benefits last week
The U.S. Department of Labor released its weekly jobs report. The report found nearly 3.2 million Americans filed for unemployment benefits last week. More than 33 million people have filed claims since mid-March.
Popular Camp Galileo files for bankruptcy
Galileo let go of many of its employees when it was forced to cancel programs because of shelter-in-place orders.
As California faces a $54 billion budget shortfall, Congress prepares a second CARES bill to support local governments
"We're projecting tens of billions of dollars of shortfalls all specifically related to COVID-19," said Governor Gavin Newsom during a Thursday briefing.
White House Coronavirus Task Force could wind down work by early June
The White House has begun discussions about winding down its coronavirus task force, which has already been meeting less frequently, Vice President Mike Pence said. Its members have become fixtures on television sets across the nation, with Americans hungry for information and marooned at home.
US jobless claims soar past 30 million as 3.8 million more workers seek aid
More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s.
US economy shrank at 4.8% rate last quarter as coronavirus struck
The U.S. economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record.
Average US gas price drops 9 cents over 2 weeks to $1.93
Industry analyst Trilby Lundberg of the Lundberg Survey says Sunday that prices at the pump have dropped 61 cents over the past nine weeks and 80 cents since mid-October.
Coronavirus brews up big trouble for the craft brewery business
Until the coronavirus, brew pub crawling was a fun contact sport where folks stood and sat shoulder to shoulder hoisting a mug.
Social Security and Medicare funds at risk even before coronavirus pandemic
For Social Security, the projected 2035 date for exhausting the trust fund reserves means that it would be able to pay only 79% of benefits.
Oil price goes negative as demand collapses; stocks dip
The price for oil plummeted to negative $3.70 per barrel, as of 2:15 p.m. Eastern time.