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Tag Archives: Economy

U.S. Chapter 11 bankruptcy filings surge in May

A pedestrian walks on an empty street

REUTERS, JUNE 4, 2020 (Reuters) – U.S. commercial bankruptcy filings under Chapter 11 of the U.S. Bankruptcy Code jumped in May by 48% from year earlier, marking an initial wave of insolvencies arising from the business disruptions triggered by the COVID-19 pandemic, the American Bankruptcy Institute said on Thursday. Chapter 11 filings rose 28% in May from April, ABI said, …

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Coronavirus unleashing a new wave of U.S. layoffs

a pedestrian walks by The Framing Gallery. Closed sign

REUTERS, MAY 28, 2020 US workers file 2.1 million more jobless claims as crisis total tops 40 million WASHINGTON – The number of Americans filing for unemployment benefits held above 2 million last week for a 10th straight week amid job cuts by U.S. state and local governments whose budgets have been decimated fighting the COVID-19 pandemic and more second-wave …

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