Thursday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Thursday’s business headlines.
Country Time
Country Time is issuing stimulus checks to children who have had shutter their summertime lemonade stands due to current coronavirus pandemic.
Country Time announced its niche economic relief program – the Littlest Bailout – in a tweet Wednesday morning. Applicants who submit a form on Country Time bailout will be entered for the chance to win a $100 for their lemonade stand.
USPS
The US Postal Service’s new postmaster general has established new cost-saving polcieis that could slow down mail service.
Mail carriers are being told to leave mail behind at distribution centers rather than taking late trips, extra trips or logging overtime, according to memos first reported on by the Washington Post.
The postal service is on financially shaky ground because of the coronavirus pandemic.
Refinancing
More Americans are refinancing their mortgage.
The Mortgage Bankers Association says they are up 107% from a year ago.
Interest rates on home loans are near record lows saving homeowners thousands a year on their payments.
Jobless claims
Layoffs probably continued their decline but are still high.
Economists surveyed by Bloomberg estimate the labor department will report Thursday that 1.5 million Americans filed initial applications for unemployment benefits.
That pushes the total during the coronavirus-induced economic crisis over the past four months above a staggering 51 million.