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Delta Lost More Than $12 Billion Last Year Last Updated This briefing has ended. Follow our latest coverage of Empty Delta ticket counters at Salt Lake City International Airport in April. The airline reported a loss of nearly $12.4 billion for 2020.Credit.Rick Bowmer/Associated Press Delta Air Lines lost $755 million in the fourth quarter, bringing its losses to nearly $12.4 billion in 2020, a year in which the airline industry was battered by a pandemic that crippled air travel. “Our December quarter results capped the toughest year in Delta’s history,” Ed Bastian, Delta’s chief executive, said in a statement Tuesday morning. “While our challenges continue in 2021, I am optimistic this will be a year of recovery and a turning point that results in an even stronger Delta.” ....
Sharp Rise in Jobless Claims Underscores Pandemic's Economic Toll: Live Updates nytimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nytimes.com Daily Mail and Mail on Sunday newspapers.
Growing Demand for Semiconductors May Hinder Volkswagen Production Last Updated This briefing has ended. Follow our latest coverage of A Volkswagen assembly line in Wolfsburg, Germany. Volkswagen said it would have to adjust production at several factories because of a shortage of semiconductors.Credit.Pool photo by Swen Pfoertner Volkswagen warned Friday of production delays at factories in China and other locations after an unexpectedly strong rebound in car sales during the pandemic created a worldwide shortage of semiconductors used in automobiles. Modern automobiles are heavily computerized, and they require semiconductors for engine controls, automatic braking systems and many other applications. ....
Businesses Are Closing, and Job Losses Are Mounting Last Updated This briefing has ended. Follow our latest coverage of Vacant retail shops in Columbus, Ohio. The rate of jobless claims has been rising as coronavirus cases remain high across the country.Credit.Maddie McGarvey for The New York Times Rising Covid-19 cases are taking a steep toll on economic activity, battering the labor market even as new vaccines offer a ray of hope for next year. The number of Americans filing initial claims for unemployment insurance remained high last week, the Labor Department reported Thursday. After dropping earlier in the fall, claims have moved higher, and they remain at levels that dwarf the pace of past recessions. ....
$900 Billion Pandemic Relief Deal Takes Shape Last Updated This briefing has ended. Follow our latest coverage of Here’s what you need to know: -0:00 Stimulus Negotiations Have Made ‘Major Headway,’ McConnell Says Senator Mitch McConnell, the majority leader, said congressional leaders are approaching agreement on a roughly $900 billion coronavirus relief package. The Democratic leader and I worked into the evening alongside the speaker of the House and the House Republican leader. We made major headway toward hammering out a targeted pandemic relief package that would be able to pass both chambers with bipartisan majorities. We committed to continuing these urgent discussions until we have an agreement. And we agreed we will not leave town until we’ve made law. The American people need more help. It’s that simple. Further targeted relief is now months overdue. We need vaccine distribution money. We need to re-up the Paycheck Protection Progr ....