US Business

The two investment firms have agreed to acquire Extended Stay America for $6 billion, a bet that a rare bright spot for the lodging industry during Covid-19 can shine brighter as the U.S. emerges from the pandemic.

The messaging tool is selling more than $1 billion of debt to fund operations and repay existing creditors, as it races to attract ads.

The rival drugmakers said they had agreed to explore whether a combination of two experimental drugs, which the companies had been researching separately, could treat HIV even if taken every several months.

Amid the current SPAC frenzy, companies with little revenue today are projecting explosive growth in a short time, leaving some investors skeptical.

Some economists see payments in the pandemic-relief package helping workers and the economy, while others say the payments may keep people from seeking jobs as recovery ramps up.

Democrats’ push for another big legislative package potentially focused on infrastructure and healthcare is expected to be harder than efforts to pass the stimulus bill, beginning with the initial step of approving a budget.

New filings for unemployment benefits last week neared their lowest level since the pandemic fueled a surge in layoffs last March, adding to evidence of renewed labor-market growth.

The president set a July 4 goal for small gatherings during his first prime-time address.

More affordable leases led some New Yorkers to take the leap and set up their own shops.

Forced by the pandemic to embrace e-commerce, merchants now want control over their relationships with customers.