Business News

Consumer Spending Up 8.2%, Partly Erasing Prior Plunge

Published by Scott Stewart on Thu, 07/02/2020 - 1:00am

Washington – American consumers increased their spending by a record 8.2% in May, partly erasing huge plunges the previous two months, against the backdrop of an economy that’s likely shrinking by its steepest pace on record this quarter.

Nebraska Wins Another Silver Shovel Award

Published by Scott Stewart on Wed, 07/01/2020 - 6:00am

Nebraska received its second consecutive Silver Shovel Award for Economic Development.

Gov. Pete Ricketts announced last Thursday the state earned the award from Area Development, a magazine covering corporate site selection and relocation. The award recognizes the state’s recruitment of investments in 2019.

Coronavirus Pummels Commercial Real Estate Industry

Published by Scott Stewart on Wed, 07/01/2020 - 4:00am
Above, a car drives by a former Shopko store at 14445 W. Center Road that is listed for sale Sunday, June 28, 2020. Across the country, such signs are expected to be seen more frequently as the real estate industry struggles. (Scott Stewart)

New York – Americans are likely to see more “for rent” signs in the coming months as many businesses devastated by the coronavirus pandemic abandon offices and storefronts and potentially end a long boom in the nation’s commercial real estate market.

Job Market’s Modest Gains May Signal Stalling Recovery

Published by Scott Stewart on Wed, 07/01/2020 - 2:00am

Washington – The number of laid-off workers seeking U.S. unemployment aid barely fell in last week’s data, and the reopening of small businesses has leveled off – evidence that the job market’s gains may have stalled just as a surge in coronavirus cases is endangering an economic recovery.

Cydney Franklin Named President, CEO of Highlander Neighborhood’s 75 North

Published by Scott Stewart on Wed, 07/01/2020 - 12:00am

Seventy Five North Revitalization Corp.’s Board of Directors is pleased to announce that Cydney Franklin has been named the organization’s president and CEO.

GDP Fell 5.0% in First Quarter; Worse is Likely Still on the Way

Published by Scott Stewart on Tue, 06/30/2020 - 4:50am

Washington – The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic.

Target Permanently Raises Its Starting Hourly Wage to $15

Published by Scott Stewart on Sun, 06/28/2020 - 3:00am

New York – Target Corp. says it’s permanently increasing starting hourly wages for its workers to $15 beginning July 5, several months ahead of schedule.

In 2017, the Minneapolis-based company had set a goal to gradually increase hourly wages from $10 to $15 by the end of 2020.

U.S. Shoppers Returned With Vigor in May in Partial Rebound

Published by Scott Stewart on Sat, 06/27/2020 - 3:00am

Baltimore – American shoppers ramped up their spending on store purchases by a record 17.7% from April to May, delivering a dose of energy for retailers that have been reeling since the coronavirus shut down businesses, flattened the economy and paralyzed consumers during the previous two months.

Can Job Market Sustain Gains? Uncertainties Cloud Future

Published by Scott Stewart on Fri, 06/26/2020 - 4:00am

Washington – Layoffs are slowing, unemployment is declining and hiring is gradually rising, suggesting that a steady rebound may be afoot in the U.S. job market.

Or is it?

Pandemic Gives Businesses Lessons in Survival, Innovation

Published by Scott Stewart on Thu, 06/25/2020 - 5:00am
Benji Harris, an artist/songwriter and client executive for a company called Song Division, leads a virtual songwriting team building workshop for a corporate client at The Record Shop, a recording studio in Nashville, Tenn., owned by Sean Giovanni, on March 31, 2020. Giovanni got an important lesson that will help his business long after the pandemic has subsided. The Record Shop doesn’t have to be limited to what it can produce onsite. (Sean Giovanni via AP)

New York – When the coronavirus outbreak forced Sean Giovanni to shut down his recording studio for two months, he dropped off mobile equipment at staffers’ and artists’ homes. He hoped remote recording would bring in some revenue.

Omaha Daily Record

The Daily Record
3323 Leavenworth Street
Omaha, Nebraska
68105-1915
United States

Tele (402) 345-1303
Fax (402) 345-2351