Business

A Stein Mart store in King of Prussia, PA. Google Earth The off-price chain Stein Mart announced Wednesday it has filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, adding to the turmoil in a retail industry that has been hammered by the coronavirus pandemic.  The

Russia said it will produce thousands of coronavirus vaccines per month before the end of the year. Carol Smiljan | NurPhoto | Getty Images Scientists and public health officials are skeptical about Russian President Vladimir Putin‘s claim that the country’s potential vaccine for the coronavirus “works quite effectively,” saying Tuesday that the vaccine still needs critical testing to

The Lucid Air sedan is expected to go into production at a plant in Arizona in 2021. Lucid The first all-electric car from Lucid Motors is expected to set a new industry benchmark — and record — with more than 500 miles of range per charge, easily topping leading EVs from Tesla, General Motors and others.

The good news: The United States has a window of opportunity to beat back Covid-19 before things get much, much worse. The bad news: That window is rapidly closing. And the country seems unwilling or unable to seize the moment. Winter is coming. Winter means cold and flu season, which is all but sure to

Steve Easterbrook, chief executive officer of McDonald’s Corp., speaks during the opening of the company’s new headquarters in Chicago, Illinois, U.S., on Monday, June 4, 2018. Joshua Lott | Bloomberg | Getty Images McDonald’s is trying to recover millions in compensation it paid out to former CEO Steve Easterbrook by suing him for allegedly lying during

Spencer Platt | Getty Images Desy’s is one of the last bars left standing in Morrisville, North Carolina.  Owner Desislava Nikolova made her American dream come true by opening Desy’s and another bar in nearby Cary after immigrating to America from Bulgaria 11 years ago. While the coronavirus pandemic forced the majority of her counterparts in the local

Young elementary school students and their parents attempt to get the attention of passing motorists on Church Street in Winchester, MA on July 30, 2020. A group of Winchester parents hold an event on the town common, voicing their concerns about younger students being able to learn remotely and advocating for the full return of

When the coronavirus pandemic forced restaurants to shut their dining rooms, many chains slimmed down their menus to make service smoother — and some of those changes may be permanent.  States and cities across the country are easing restrictions, but menus are unlikely to snap back to their pre-pandemic status. Bloated menus can overwhelm customers, slow

A view outside Cinemas 1, 2 & 3 movie theater during the coronavirus pandemic on May 18, 2020 in New York City. COVID-19 has spread to most countries around the world, claiming over 320,000 lives with over 4.8 million infections reported. (Photo by Noam Galai/Getty Images) Noam Galai While some industries have heralded the third

Director of the National Institute for Allergy and Infectious Diseases Dr. Anthony Fauci testifies before the US Senate Health, Education, Labor, and Pensions Committee hearing to examine COVID-19, “focusing on lessons learned to prepare for the next pandemic”, on Capitol Hill in Washington, DC on June 23, 2020. Kevin Dietsch | Pool | AFP |

Two of Washington’s most powerful lawmakers told CNBC they believe Congress will strike a coronaviurs relief package, although the timing is still unknown. Congress and the Trump administration have struggled to strike an aid agreement for several days, even as key relief benefits expired. While negotiations continue, markets await July’s employment data, which is expected

Cadillac Lyriq show car GM General Motors unveiled the Cadillac Lyriq crossover Thursday night as the “next chapter” for the American luxury brand and a “technology spearhead” for the automaker. The Lyriq is the first to debut with the automaker’s next-generation batteries and EV architecture. GM executives believe the technologies will rival, if not outperform,

U.S. President Donald Trump addresses a coronavirus disease (COVID-19) pandemic briefing in the Brady Press Briefing Room of the White House in Washington, U.S., August 5, 2020. Joshua Roberts | Reuters President Donald Trump will sign an executive order requiring the U.S. government to buy “essential” drugs from American companies, White House trade advisor Peter Navarro

Liu Yifei stars in Disney’s “Mulan.” Disney While the U.S. is dealing with a resurgence of coronavirus cases that continue to restrict movie theater reopenings, the rest of the world is ready to welcome Hollywood back to the big screen. However, on Tuesday, international theater owners were caught off guard when Disney decided to launch

Customers shop at the CVS Pharmacy, on Morrissey Boulevard, in Dorchester, on April 2, 2020. Some pharmacy workers worry about unsafe conditions at their stores. Pat Greenhouse | Boston Globe | Getty Images CVS Health on Wednesday reported that it beat expectations for earnings and revenue in the fiscal second quarter. Shares of the company were

Dr. Sonia Macieiewski (R) and Dr. Nita Patel, Director of Antibody discovery and Vaccine development, look at a sample of a respiratory virus at Novavax labs in Rockville, Maryland on March 20, 2020, one of the labs developing a vaccine for the coronavirus, COVID-19. Andrew Caballero-Reynolds | AFP | Getty Images Novavax’s potential vaccine to

Ford Motor CEO and President Jim Hackett will unexpectedly retire in the midst of an $11 billion restructuring plan that has failed to impress Wall Street and investors. Hackett, 65, will be succeeded by his heir apparent, Jim Farley, Ford’s chief operating officer, effective Oct 1. Farley, 58, will work with Hackett on a “smooth

President Donald Trump insisted Monday that shutting down the United States in an attempt to curb the coronavirus would cause more harm than good, doubling down on previous comments that he would not call for a nationwide lockdown.  “It’s important for all Americans to recognize that a permanent lockdown is not a viable path forward producing

The U.S. is in a “new phase” of its battle against the coronavirus, which is “extraordinarily widespread” in both urban and rural communities, White House coronavirus task force coordinator Dr. Deborah Birx warned on Sunday. Meanwhile, Congress is still in disagreement over extended unemployment benefits as part of further virus relief. Lawmakers will continue negotiations this week.  The

Fifth Avenue is empty of traffic as people remain at home to stop the spread of the Coronavirus pandemic on March 31, 2020 in New York City. Noam Galai | Getty Images High-end handbag maker Valentino is suing to get out of its lease on Fifth Avenue in Manhattan, a vacated Barneys New York still

A United Airlines plane sits on the tarmac at San Francisco International Airport. Justin Sullivan | Getty Images United Airlines on Friday said it plans to add a small amount of flights in September, staying cautious as the coronavirus pandemic continues to depress travel demand. The Chicago-based airline’s September capacity will be 37% of year-ago levels and

Under Armour’s stores are opening back up across the county after being forced shut due to the Covid-19 crisis, but shoppers aren’t showing up like they used to, according to the retailer’s CEO.  “The consumer is there, but they are still nowhere near pre-Covid levels … there is hesitancy there,” Under Armour Chief Executive Patrik Frisk

White House coronavirus advisor Dr. Anthony Fauci said Friday the coronavirus is so contagious it won’t likely ever completely go away, contradicting statements made by President Donald Trump who has repeatedly said Covid-19 will eventually vanish. “I do not believe it would disappear because it’s such a highly transmissible virus,” Fauci, director of the National Institute

Dado Ruvic | Reuters With chronic asthma, food allergies and a heart condition, Thomas Silvera does everything he can to safeguard his health, including getting vaccines. So if and when a Covid-19 vaccine becomes available, he said he’s leaning toward getting that, too. But before vaccines reach the market, they go through wide-scale testing for

Products are displayed in an Under Armour store in New York City, November 4, 2019. Brendan McDermid | Reuters Under Armour said Friday its fiscal second-quarter revenue fell 41%, but overall its results came in better than the retailer was expecting thanks to an e-commerce boost.  The sneaker maker estimated roughly 80% of stores where its

Visitor walk past a Ford Escape Titanium at the Shanghai Auto Show in Shanghai on April 17, 2019. Greg Baker| AFP | Getty Images Ford Motor performed far better than Wall Street expected during the second quarter, even beating its own expectations as the coronavirus caused rolling shutdowns of its plants across the globe. Here’s how

This school year, retailers may have only one certainty to count on: Kids are growing and that’ll drive some demand for new clothes.  Otherwise, retailers and industry watchers are unsure of what to expect as the pandemic delays the first day of school, leads to staggered schedules or prompts plans for virtual learning across the

The World Health Organization on Wednesday advised public officials against trying to achieve so-called herd immunity to the coronavirus by allowing it to rapidly spread throughout their communities, saying it will overwhelm hospitals and kill a lot of people. Herd immunity is necessary to really contain a virus, according to epidemiologists. That is generally achieved

General Motors Chairman and CEO Mary Barra on April 1, 2020 tours one of the company’s facilities in Warren, Michigan that will produce Level 1 face masks. GM General Motors is set to report its second-quarter earnings before the bell on Wednesday as the automaker attempts to recover from the coronavirus pandemic that’s shuttered factories

The Child, popularly known as “Baby Yoda,” is a character in the new Disney+ series, “The Mandalorian” Episodic Photos, Disney While “Watchmen,” “Marvelous Mrs. Maisel” and “Schitt’s Creek” secured Emmy nominations on Tuesday, there were quite a few shows — and actors — that didn’t make the cut. And then there were the shows and performers that