In the dark: Storms moving through the Deep South with howling wind and pounding rain were blamed for at least one death and left nearly 110,000 homes and businesses without electricity early Thursday. At least two other people were sent to a hospital because of a possible tornado touchdown in Louisiana, and forecasters said the weather threat would last hours more. The Storm Prediction Center reported trees and utility lines down across a wide area from eastern Louisiana to northwest Alabama, and radar showed storms reaching from the Gulf Coast to the Ohio Valley. Read the full story.
Joblessness: New applications for U.S. unemployment aid fell last week and the number of Americans receiving benefits was the lowest in more than 45 years as labor market conditions tightened further, Reuters reports. However, other data on Thursday showed worker productivity slowing in the third quarter, but still growing at a relatively decent clip and compensation surging, adding to recent reports and anecdotal evidence that the strong labor market was pushing up wage gains. Read the full story.
Make or break: In retail, it’s getting harder and harder for the have-nots to join the haves. Department store chains Sears, J.C. Penney and Neiman Marcus are ailing, while strip-mall stalwarts Kmart and Bed Bath & Beyond are also struggling to lure customers, USA Today reports. Seventeen chains have defaulted on their debts since the start of 2017, including Sears, Payless, GNC, Rue 21, Bon-Ton Stores and David’s Bridal, according to S&P Global Ratings, and they can’t afford a bad holiday season, meaning this year could be an even more make-or-break season than normal for American retailers. Read the full story.
