Millions miss credit card, car payments amid coronavirus crisis

Millions miss credit card, car payments amid coronavirus crisis

Millions of Americans are missing payments on credit cards and car loans as the coronavirus pandemic squeezes consumers’ wallets, data shows. Nearly 15 million credit cards, or about 3.2 percent of the nation’s accounts, were in “financial hardship” status in April, according to figures from credit-reporting company TransUnion. That means the accounts were frozen, in … Read more

Macy’s warns coronavirus lockdowns could spur $1B loss

Macy's warns coronavirus lockdowns could spur $1B loss

Macy’s said on Thursday it could rack up operating losses of up to $1.11 billion in the first quarter, as the department store operator was forced to shut stores due to lockdowns aimed at curbing the spread of the new coronavirus. The health crisis has forced brick-and-mortar retailers to tap credit lines, lay off employees … Read more

Amazon pushes back ‘Prime Day’ sales event to September

Amazon pushes back 'Prime Day' sales event to September

Amazon is scheduling its annual Prime Day shopping event for September and allowing unlimited shipments of non-essential goods to warehouses, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The latter move will allow the company to lay the groundwork for shipments of a wider variety of products, indicating it is … Read more

Big tech efforts to help small biz could backfire

Big tech efforts to help small biz could backfire

Big tech companies such as Facebook and Google have touted their efforts to help small businesses struggling during the coronavirus pandemic — but those efforts may eventually take customers away from the small businesses they were supposed to help, according to a new report. Facebook and Instagram shops were announced this week to help shuttered … Read more

Google says it won’t build AI tools for oil and gas drillers

Google says it won’t build AI tools for oil and gas drillers

Google says it will no longer build custom artificial intelligence tools for speeding up oil and gas extraction, separating itself from cloud computing rivals Microsoft and Amazon. A statement from the company Tuesday followed a Greenpeace report that documents how the three tech giants are using AI and computing power to help oil companies find … Read more