US Business

Sales of previously owned homes surged in July as low interest rates and a desire for more space amid the pandemic boosted home-buyer demand.

The U.S. economy picked up momentum this month as firms shook off the effects of the pandemic-induced downturn, though recoveries in other parts of the world slowed, according to new surveys of purchasing managers.

TikTok plans to challenge President Trump’s executive order that would effectively ban the popular short-video app from the U.S. if it doesn’t quickly find an American buyer, setting up a high-profile showdown.

The nation’s $1.5 billion wine industry, which employs about 290,000 people domestically, is reeling after a series of pandemic-induced shocks, including successive bans on the sale of alcohol totaling some 14 weeks.

The rapid adoption of remote work and automation could accelerate inequalities already in place for decades. Economists say the resulting “K” shaped recovery will be good for professionals—and bad for everyone else.

A users group that says it isn’t affiliated with Tencent, the popular app’s Chinese owner, filed a lawsuit against the Trump administration seeking to block an executive order that would bar transactions with WeChat.

Blame lean manufacturing. A decadeslong effort to eke out more profit by keeping inventory low left many manufacturers unprepared when Covid-19 struck. And production is unlikely to ramp up significantly any time soon.

Palantir Technologies Inc., one of the oldest Silicon Valley unicorns, told investors it burned through $165 million last year; it plans to list shares as soon as September.

David Pecker is stepping down as chief executive of American Media, publisher of the National Enquirer, ending an era for the supermarket tabloid which played a key role in a campaign-finance scandal that sent Donald Trump’s lawyer to jail and implicated the president himself.

Some companies are beginning to restore cuts they made to managers’ salaries and bonuses, a sign that some industries—and their white-collar workers—are benefiting from glimmers of a recovery while millions of others continue to endure job and income losses.