Walmart is transforming 160 of its parking lots into drive-in theaters

Two of the most classic pieces of Americana are coming together this summer: drive-in theaters and Walmart. Beginning in August, the retailer is converting 160 of its US store parking lots into drive-in movie theaters. As the pandemic continues, drive-in theaters have been making a comeback as a safe alternative to the traditional movie theaters…MORE

Stocks rise after jobs report

Wall Street is cheering the better-than-expected June jobs report Thursday, but investor enthusiasm waned as the day wore on. The Dow was up 0.9%, or about 240 points, in mid-afternoon trading. That was well off its earlier highs of the day after the government reported that the US economy added 4.8 million jobs in June,…MORE

This data shows the Great Reopening may have stalled

The latest US jobs report is expected to show that America’s labor market continued to bounce back in June as businesses reopened and employees returned to work. But the data won’t reflect cracks in the recovery that have emerged in recent days as the Covid-19 outlook deteriorates. Goldman Sachs estimates that over half of the…MORE

UK court blocks Maduro’s bid to access $1 billion in Venezuelan gold

Venezuela’s embattled ruler Nicolás Maduro has been denied access to roughly $1 billion in gold reserves held by the Bank of England after a UK court ruled that the British government has recognized Juan Guaidó as president. Venezuela’s central bank, which is still controlled by Maduro’s government, had sued the Bank of England, seeking access…MORE

Jeff Bezos is so rich he just set a new record

The economy might be a shambles, but Jeff Bezos’ wallet couldn’t tell. He’s now worth nearly $172 billion, a new record for the world’s richest person, according to Bloomberg Billionaire Index. Bezos this week surpassed his previous wealth record that he reached prior to his divorce from his ex-wife MacKenzie. Last year, the couple divorced…MORE

The US economy created 4.8 million jobs in June. But that’s not the whole story

The US unemployment rate fell to 11.1% as the economy added a record 4.8 million jobs in June, the Bureau of Labor Statistics reported on Thursday. The data was far better than economists predicted, and the unemployment rate also fell more than expected. It was the second-consecutive month of growth after more than 20 million…MORE

Court sides with publisher of tell-all book by Trump’s niece

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Bad news for President Trump and his younger brother, Robert Trump, who has been trying to block an unflattering tell all book by the President’s niece, Mary Trump, that Simon & Schuster is set to…MORE

Nordstrom oversold its stock of the new Nike Dunks and customers are outraged

Nordstrom was one of a few select retailers selling the latest model of Nike Dunks athletic shoes, but some sneaker enthusiasts came up empty-handed after the luxury department store chain oversold its stock. The Nike Dunk Low “University Red” was released on the Nordstrom website at 10 am ET on Wednesday. The red and white…MORE

Newsletter

Local Weather