The U.S. federal budget deficit in June surged to $864 billion from single digits a year earlier amid continued strong spending on coronavirus relief programs and a drop in individual and corporate tax receipts, the Treasury Department said on Monday.
American Airlines is preparing to send notices of potential furloughs, as well as early retirement packages to encourage voluntary departures, to its workers later this week, two people familiar with the matter said.
The fried chicken chain KFC has closed dining rooms in corporate-owned stores in Florida because of the escalation in coronavirus cases in the state, according to a letter seen by Reuters.
Apple Inc has told its staff that a full return to U.S. offices will not occur before the end of the year, Bloomberg News reported on Monday, citing an internal video message.
The S&P 500 and Nasdaq ended lower on Monday, pulled down by Amazon, Microsoft and other recent big-name leaders of Wall Street's recent rally.
Southwest Airlines Chief Executive Gary Kelly told employees on Monday that he was concerned about the impact of a recent rise in COVID-19 cases and quarantines on already-weak travel demand and said passenger numbers would need to triple by the end of the year to prevent job cuts.
Luckin Coffee Inc said on Monday co-founder and chairman Charles Zhengyao Lu has stepped down and will be replaced by acting Chief Executive Officer Jinyi Guo.
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