Business

Guitar Center filed for Chapter 11 bankruptcy on Saturday, with CEO Ron Japinga saying this is “an important and positive step in our process to significantly reduce our debt.” Based in California, Guitar Center opened in 1959, and is the largest musical instrument store in the U.S. The company, which has more than 13,000 employees, […]

DETROIT — The U.S. is making General Motors recall and repair nearly 6 million big pickup trucks and SUVs equipped with potentially dangerous Takata air bag inflators. The decision announced Monday by the National Highway Traffic Safety Administration will cost the automaker an estimated $1.2 billion, about one third of its net income this year. […]

Oxford University and drugmaker AstraZeneca announced Monday morning that their COVID-19 vaccine candidate had proved to be 70 percent effective in its Phase Three trial of 20,000 volunteers in Britain and Brazil. And Oxford Vaccine Group director Andrew Pollard told BBC Radio 4 Today that the vaccine appeared to be 90 percent effective when people […]

With the number of new coronavirus cases soaring in Los Angeles County, public health officials announced on Sunday that starting Wednesday at 10 p.m., outdoor dining at restaurants, bars, wineries, and breweries in the county will be suspended for at least three weeks. “The persistent high number of cases requires additional safety measures that limit […]

Banks and mortgage lenders weren’t front and center in this year’s economic downturn as they were in the Great Recession, but that doesn’t mean 2020 hasn’t been a tumultuous year for them. Colorado banks and community lenders faced a crush of requests under the U.S. Small Business Administration’s Paycheck Protection Program, processing 109,170 loans worth […]

John Marce had dreamed that Alex, his son, would take over the family business someday. John was the second generation of business ownership since his father had founded the company 47 years earlier — Marce Distribution Co. It had a large presence throughout the Midwest. Clients included wholesalers, retailers, Amazon and other online channels generating […]

By CHRISTOPHER RUGABER and ANNE D’INNOCENZIO, The Associated Press WASHINGTON — LaTonya Story is every retailer’s worst fear. With the viral pandemic resurging through the country and the economy under threat, Story has decided to slash her holiday shopping budget. She’ll spend less than $2,000 this season, down from several thousand dollars in 2019. Worried […]

A plan by Xcel Energy-Colorado to offer car rebates to increase the number of electric vehicles in the state is getting praise from those who want gas-guzzling cars off the roads and criticism from those concerned about the impact on the utility’s ratepayers. The rebates would raise to $130 million from $102 million the amount […]

By Natasha Singer, The New York Times Co. In Rochester, Michigan, Oakland University is preparing to hand out wearable devices to students that log skin temperature once a minute — or more than 1,400 times per day — in the hopes of pinpointing early signs of the coronavirus. In Plano, Texas, employees at the headquarters […]

Colorado employers added a robust 21,100 job last month, but it wasn’t enough to move the dial on the state’s seasonally-adjusted unemployment rate, which remained stuck at 6.4% for the second month in a row, according to a monthly update from the Colorado Department of Labor and Employment. “Recovery is dependent on getting COVID-19 under […]

As the rest of Denver braces for tightened coronavirus restrictions starting at 5 p.m. Friday, the food service industry is busy donating food and laying off workers. In accordance with the latest Level Red restrictions, Denver restaurants are in the process of shutting down indoor dining and moving last call to 8 p.m. But some […]

The Colorado Office of Economic Development and International Trade has gone from having its funding on the chopping block this spring to being asked to help distribute tens of millions of dollars to businesses at risk of failing because of the COVID-19 pandemic. “OEDIT is working with the state budget office and DOLA (Department of […]