What’s News: Business & Finance — WSJ

This article is being republished as part of our daily reproduction of WSJ.com articles that…

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (July 24, 2020).

Initial jobless claims rose last week for the first time in nearly four months as some states rolled back reopenings, a sign the labor-market recovery could be faltering.

American and Southwest said they were tempering expectations for air travel’s recovery, as rising Covid-19 cases have depressed bookings by as much as 80{a25bda0f8ab6dac90e68079d6f038584ef6ac53f1f4621de3ad526e35cd6c0d6} in some parts of the U.S.

Twitter reported strong user growth for the second quarter, but revenue dropped 19{a25bda0f8ab6dac90e68079d6f038584ef6ac53f1f4621de3ad526e35cd6c0d6} as the company navigated a rocky ad climate.

AT&T’s profit fell as the pandemic and an already ailing satellite-TV business overshadowed the launch of its streaming-video service.

Stocks fell after the jobless-claims report, with the Dow and S&P 500 retreating 1.3{a25bda0f8ab6dac90e68079d6f038584ef6ac53f1f4621de3ad526e35cd6c0d6} and 1.2{a25bda0f8ab6dac90e68079d6f038584ef6ac53f1f4621de3ad526e35cd6c0d6}, respectively, while the Nasdaq lost 2.3{a25bda0f8ab6dac90e68079d6f038584ef6ac53f1f4621de3ad526e35cd6c0d6}.

A standards-setting body for state insurance departments is moving to examine existing industry practices to identify those that may disadvantage minorities.

Intel posted stronger earnings, aided by remote working that spurred demand for computing power, but signaled a delay in its development of superfast chips.

Ann Taylor parent Ascena filed for bankruptcy with plans to permanently close up to 1,600 stores and reduce its debt by about $1 billion.

South Korea fell into a recession in the second quarter as the coronavirus took a heavy toll on the export-reliant country.


(END) Dow Jones Newswires

July 24, 2020 02:47 ET (06:47 GMT)

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