Business

Tuesday’s business headlines

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

SpaceX

SpaceX carried out the historic Demo-2 mission with NASA over the weekend, successfully becoming the first commercial company to launch humans to spacecraft.

Elon Musk’s pioneering rocket business hopes to launch its next Starlink satellite mission tomorrow.

The Falcon 9, carrying the satellites, will attempt a landing at sea.

Southwest Airlines

Southwest Airlines is offering what it describes as the “most generous buyout package in our history” in an effort to avoid layoffs or furloughs this fall.

In a document shared with employees, Southwest detailed early retirement and extended time-off packages designed to “ensure the long-term success” of the airline.

Streaming

People are turning to TV for comfort in the coronavirus pandemic.

About 31% of Americans added a new streaming service in March, April or May, shows data from CreditCards.com.

The data also found that more than half of streamers shared an account with a friend.

Economy

The coronavirus is likely to reduce U.S. economic growth by $8 trillion or 3%, through fiscal 2030, according to the Congressional Budget Office.

The second quarter is likely to see the biggest GDP drop in U.S. history while the unemployment rate for May is expected to be near 20%.

Some lawmakers say the estimate shows the urgency of getting more rescue funding passed.

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