Fast food workers go on strike in honor of Martin Luther King Jr.

An estimated 1,000 fast food workers across the United States went on strike Friday over low wages, staging protests in honor of Martin Luther King Jr. ahead of the federal holiday next week. The demonstrations were set to take place in more than 15 cities, including Atlanta, Chicago, St. Louis and Los Angeles. The strike…MORE

Oil giant splits from powerful lobbying group over climate change

The American Petroleum Institute, the nation’s largest and most powerful oil lobby, is losing one of its biggest members over a disagreement about addressing the climate crisis. France’s Total announced Friday it is quitting the API because of the lobby’s stances on regulation and carbon pricing as well as its support for politicians who oppose…MORE

Vaccination megasites pop up in empty malls

Now that Covid-19 vaccination efforts are ramping up, local health officials are on the hunt for locations that can quickly be converted into vaccination clinics, and malls across the country, battered by declines in in-person shopping, are starting to play a role. Mall operators are sitting on plenty of abandoned retail space that might be…MORE

The online shopping exec Walmart hired to take on Amazon is leaving

The executive hired to help boost Walmart’s e-commerce business to compete with Amazon is leaving the company. Marc Lore, who joined the company in 2016 after selling his online startup Jet.com to Walmart, is retiring at the end of January, the company announced Friday. Lore, the chief executive of Walmart’s US e-commerce arm, initially led…MORE

Lawmakers ask travel companies to step up security ahead of inauguration

US lawmakers are asking for help from travel companies including bus operators, car rental companies and hotels to prevent an attack on the inauguration and investigate last week’s Capitol insurrection. Washington, DC, and states across the country are heightening security and preparing reinforcements this week ahead of potential armed protests from Saturday until at least…MORE

JPMorgan Chase just reported a record quarterly profit. But its CEO is still nervous

The economy may not have fully recovered yet, but that’s no problem for America’s biggest bank. JPMorgan Chase reported a record profit of $12.1 billion for the fourth quarter Friday — easily topping Wall Streets forecasts. Still, JPMorgan Chase CEO Jamie Dimon still sounded a bit nervous about the near-term economic outlook, citing the lingering…MORE

Wells Fargo can’t seem to escape its troubled past

Wells Fargo is still being haunted by its history of ripping off customers. More than four years after the Wells Fargo fake-accounts scandal erupted, the bank reported Friday another $321 million of quarterly losses tied to customer refunds. That brings Wells Fargo’s 2020 total for what it calls customer “remediation” to a staggering $2.2 billion.…MORE

Retail sales decline for third straight month

US retail sales dropped last month, the Commerce Department said Friday, marking the third straight month without any growth. Retail sales fell 0.7% in December from the month prior. Economists surveyed by Refinitiv expected sales to be flat. America’s economic recovery took a hit in the final months of 2020, and the retail sector hasn’t…MORE

Even $1,400 checks aren’t exciting Wall Street

News that President-elect Joe Biden is asking Congress to pass a $1.9 trillion stimulus package would normally give markets a big boost. Not this time. US stocks slid on Thursday, and futures indicate they could lose more ground Friday. The S&P 500 has shed 0.8% this week, setting it up for its first weekly decline…MORE

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