Business

Oprah Winfrey's 2020 favorite things has a twist this year.

The U.S. Bankruptcy Court for the Southern District of Texas approved a purchase agreement that has substantially all of J.C. Penney’s retail and operating assets acquired by Brookfield Asset Management Inc. and Simon Property Group through a combination of cash and new term loan debt.

The Dow Jones Industrial Average surged 1,500 points, or 5.4%, in early trading Monday and the S&P 500 jumped 3.7% after drugmaker Pfizer said early data show its coronavirus vaccine looks highly effective.

Trader Joe's has disclosed the COVID-19 infection rate among its employees, addressing rising concern over a recent survey that revealed a number of grocery store workers at a Boston market had the disease without showing symptoms.

Markets are banking on Tuesday's election leading to split control of Congress, which could mean low tax rates, lighter regulation on businesses and other policies that investors like remain the status quo.

The Office of Small Business Administration (SBA) Inspector General Michael Ware found that it may have distributed billions of dollars to fraudulent businesses claiming financial distress due to the COVID-19 pandemic, according to a report.

With next week’s election looming, the CEOs of Twitter, Facebook and Google are being scolded by Republicans at a Senate hearing for alleged anti-conservative bias in the companies’ social media platforms.

The stock market had its worst day in a month as virus cases surge and help for the economy from Washington remains nowhere in sight.

Italy’s leader has imposed at least a month of new restrictions to fight rising coronavirus infections, shutting down gyms, pools and movie theaters and putting an early curfew on cafes and restaurants.

Here are answers to some common questions about personal finance during the coronavirus pandemic.

Last week, the Coca-Cola Company announced that it would discontinue drinks like Tab and Odwalla, but announced on Thursday that it would retire half of its portfolio by the end of the year.

Gap joins other clothing retailers in trying to reinvent themselves during the COVID-19 pandemic.

A short six months after promising to revolutionize video viewing, short-form streaming service Quibi raised a white flag Wednesday and announced it was shutting down.

Walmart has started giving approximately 165,000 hourly workers a raise.