Business

Thursday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Thursday’s business headlines.

Twitter

Shares of Twitter spiked as much as 8% after the company hinted it’s building a subscription platform codenamed “Gryphon.”

Online job postings indicate Twitter may be hiring engineers to build another level of Twitter that people would pay for.

Twitter has been under pressure by investors to bring in more profits.

United

United Airlines said it was preparing to send notices of potential furloughs to 36,000 US-based frontline employees, or about 45% of staff.

This as travel demand hit by the coronavirus pandemic struggles to recover.

The final number will depend on how demand evolves and how many employees accept early exit packages and temporary leaves.

Bed, Bath and Beyond

Bed, Bath and Beyond said its sales tumbled nearly 50% during its latest quarter, even as online sales surged more than 100% during April and May.

It will close 200 stores, starting later this year.

Jobless claims

Economists surveyed by Bloomberg anticipate another 1.37 million Americans filed for unemployment benefits in the week ending July 4.

That’s down from the previous week but still above a million a week, when many economists thought we’d be below that level by now.

Weekly jobless claims have decelerated for 12 consecutive weeks: however, more than 48 million Americans have filed for unemployment insurance over the past 15 weeks.

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