The number of Americans filing new claims for unemployment benefits fell to a seven-month low last week, but the pace of decline has slowed and further improvement could be limited by a raging COVID-19 pandemic and lack of additional fiscal stimulus. Fred Katayama reports.
The U.S. economy grew at an unrivaled pace in the third quarter as the government poured out more than $3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal. This report produced by Jillian Kitchener.
CHANDAN KHANNA/AFP via Getty Images Joe Biden's presidency is likely good news for Uber and Lyft. The companies won big in California with Prop. 22, a law the President-elect was vocally opposed to. With the new gig-work model in place, companies are likely to try and replicate it in other states. Federal efforts to classify drivers or couriers as employees are likely to fall flat thanks to a divided congress, experts say. Visit Business Insider's homepage for more stories.
DoorDash, the U.S. food delivery startup backed by SoftBank Group, made public on Friday its regulatory filing for a listing on the New York Stock Exchange, setting the stage for a blockbuster IPO before the end of the year. Fred Katayama reports.
Voters in California look to have backed a ballot proposal by Uber and its allies that cements app-based food delivery and ride-hail drivers' status as independent contractors, not employees, according to a projection by data provider Edison Research. Emer McCarthy reports.
Marriott International on Friday reported a surprise third-quarter profit, helped by cost cuts and a near doubling of occupancy rates in its North American hotels from the previous quarter as leisure travel rebounded on easing COVID-19 curbs. Fred Katayama reports.