Business

Children pose for a photo with Santa Claus, who is sitting behind a plexiglass screen, at Bass Pro Shops. Source: Bass Pro Shops It’s an annual tradition for many families during the holidays: Packing the kids in the car and trekking them to the local mall to visit Santa for the chance to rattle off

A man fills out paperwork while waiting for his number to be called at an unemployment event in Tulsa, Oklahoma on July 15, 2020. Nick Oxford for The Washington Post | Getty Images Vicki Honeycutt lost her job in March, one of millions laid off in the early days of the coronavirus pandemic. To make

Peloton on Thursday reported quarterly sales growth of 232%, exceeding the company’s expectations, as consumers turned to its bikes and treadmills to work out and stream live classes from home during the coronavirus pandemic. The bike maker raised its revenue outlook for fiscal 2021, and now expects to report $3.9 billion or more in total

Volunteers hand out potatoes in Auburn, Washington on May 7, 2020. JASON REDMOND | AFP | Getty Images That’s a big jump from the prior month, when 19% of the unemployed were out of work for at least six months. The number of long-term unemployed swelled by 1.2 million people in a month, to 3.6

Faris Hadziq/SOPA Images | LightRocket | Getty Images Bentley Motors plans to exclusively offer plug-in hybrid and electric vehicles by 2026 and fully electric models by 2030, the British luxury carmaker said Thursday. Bentley, which is owned by German automaker Volkswagen, will offer two unnamed plug-in hybrid models starting next year. The first full-electric vehicle

People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018.  Jason Lee | Reuters BEIJING — Just days after the abrupt suspension of Ant Group’s IPO — which was set to be the world’s largest offering — China’s financial authorities emphasized the need to ensure sufficient

Cari Gundee rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California. More people are turning to Peloton due to shelter-in-place orders because of the coronavirus (COVID-19). Ezra Shaw | Getty Images Peloton is seeing demand for its high-end exercise bikes and treadmills spike again, as Covid-19 cases are

This is a comparison of Thursday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policy-making meeting on Sept. 16. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined.

A pedestrian walks by the closed GAP flagship store on August 18, 2020 in San Francisco, California. Justin Sullivan | Getty Images Gap caught fire Wednesday for posting a photo of a half-blue, half-red sweatshirt on its Twitter account, with the outcome of a heated presidential election still undecided and tensions running high. The retailer

Wells Fargo Securities’ Christopher Harvey won’t buy the post-election bounce. “You want to fade this rally,” the firm’s head of equity strategy told CNBC’s “Trading Nation” on Wednesday. “It’s about stimulus. We now have — or what we believe we have — is [Joe] Biden as president and no longer a blue wave.” Harvey contends

Destiny USA mall reopens as the coronavirus disease (COVID-19) restrictions are eased in Syracuse, New York, U.S. Maranie Staab | Reuters Retailers have faced nothing short of whiplash this year. Businesses have had to shutter and reopen due to the coronavirus pandemic. They’ve coped with a plunge in sales and supply chain headaches. They’ve chased

BEIJING — Chinese mutual funds have been on a tear this year, a sign of changing investor behavior as the local capital markets mature. More than 1,100 new funds have launched this year, for a scale of issuance that’s topped 2.5 trillion yuan ($373.1 billion) as of Friday, the last trading day of October, according

Pedestrians carrying shopping bags cross a street in front of the Macy’s flagship store in the Herald Square area of New York, on Thursday, Aug. 6, 2020. Nina Westervelt | Bloomberg | Getty Images Americans have shown they are eager to shop, even during a recession and global health crisis, the National Retail Federation’s chief

Traders wait for the Wayfair IPO on the floor of the New York Stock Exchange October 2, 2014. Lucas Jackson | Reuters Check out the companies making headlines in midday trading. Alibaba — Shares dropped more than 5% after Ant Group’s record-setting initial public offering in Shanghai and Hong Kong was suspended. Alibaba owns roughly

A shopper is seen wearing a mask while shopping at a Walmart store, in North Brunswick, New Jersey, July 20, 2020. Eduardo Munoz | Reuters At some Walmart stores, robots have roamed the sales floors and helped check if shelves were stocked. But the big-box retailer has now decided to end its contract with the

Fundstrat Global Advisors Tom Lee is calling for stocks to rally into year-end. It’s not dependent on any single election outcome. Rather, it takes into account three widely-talked about scenarios. Lee’s base case: Joe Biden wins with a blue wave due to his strength in the polls and betting markets. “That rally is roughly 10%,”