Articles by Lucy Bayly Is The Business Editor For Nbc News. Oct 14, 2021

Weekly initial jobless claims fall below 300,000 for first time since pandemic began
Lucy Bayly Is The Business Editor For Nbc News.

The latest weekly initial jobless claims dropped below 300,000 for the first time since the pandemic began, according to data released Thursday by the Department of Labor. Initial applications for unemployment benefits totaled 293,000, the lowest level since March 14, 2020. Continuing claims, which . . .

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Hasbro CEO Brian Goldner has died, just two days after taking medical leave
Lucy Bayly Is The Business Editor For Nbc News.

Hasbro CEO Brian Goldner has died, the toymaker announced Tuesday, just two days after Goldner stepped down to take medical leave. Goldner, 58, disclosed last year that he has been receiving treatment for prostate cancer since 2014. He joined the company in 2000 and was appointed chief executive in . . .

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Corporate America reacts to Biden's new vaccine mandate
Lucy Bayly Is The Business Editor For Nbc News.

"We have tools to combat the virus... if we can come together as a country to use those tools," Biden said. Biden's multifaceted approach to resolving the issue also includes three months of at-cost testing kits from Amazon, Walmart and Kroger. This week, the airline also said that anyone refusing t . . .

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Fed holds rates steady, says sectors most affected by pandemic are showing improvement
Lucy Bayly Is The Business Editor For Nbc News.

Federal Reserve officials voted Wednesday to keep interest rates at their current levels, extending the central bank's support for the economy as Covid infection rates surge and vaccination rates stall out. Members of the Federal Open Market Committee, the Fed's policymaking arm, opted to maintain t . . .

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Southwest CEO Gary Kelly to step down
Lucy Bayly Is The Business Editor For Nbc News.

Southwest Airlines CEO Gary Kelly, 66, will step down from his position and "transition roles" to become executive chairman, the company announced Wednesday. Robert Jordan, Southwest's executive vice president for corporate services will become the next CEO, starting Feb. 1 next year. "Bob and I hav . . .

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In key meeting, Federal Reserve could signal rate hike sooner than expected
Lucy Bayly Is The Business Editor For Nbc News.

The central bank's latest policy statement is set to be released at 2 p.m. ET, with Federal Reserve Chairman Jerome Powell's press conference at 2:30 p.m. While the Fed is not expected to make any policy changes or rate hikes at the conclusion of its two-day meeting, markets were on edge Wednesday m . . .

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U.S. economy added 559,000 jobs in May, vs. estimates for 675,000
Lucy Bayly Is The Business Editor For Nbc News.

The economy added 559,000 jobs last month, double April's disappointing total, and the unemployment rate ticked down to 5.8 percent from 6.1 percent, according to data released Friday by the Bureau of Labor Statistics. “No other major economy in the world is growing as fast as ours,” President Joe B . . .

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