Sep 12, 2018

Sen. King to vote no on Kavanaugh confirmation

Brett Kavanaugh. Photo: Chip Somodevilla/Getty Images

Sen. Angus King (I-Maine) will vote no on Brett Kavanaugh's confirmation to the Supreme Court, he said in a statement on Wednesday.

Why it matters: King joins a handful of democrats who have already announced their "no" vote on Kavanaugh's nomination. While his decision is far from a deciding vote, more moderate senators such as Sens. Susan Collins, Lisa Murkowski and Joe Manchin still hang in the balance and could have a large impact on the confirmation. King cites Kavanaugh's views on presidential power, his answers during the hearings, and the release of documents as reasons for the decision.

Go deeper

Another 6.6 million jobless claims filed last week amid coronavirus crisis

Photo: Mandel Ngan/AFP via Getty Images

Another 6.6 million Americans filed for unemployment last week, the Labor Department announced Thursday.

Why it matters: It adds to the staggering 10 million jobless claims in recent weeks — by far the sharpest spikes in American history — as the world economy has ground to a halt in an effort to contain the coronavirus outbreak.

Yelp cutting 1,000 jobs, furloughing others

An image from a Yelp donation program launched in the wake of Covid-19. Photo: Yelp

Yelp told employees Thursday that it is cutting 1,000 jobs and furloughing another 1,100 workers amid a massive drop in its business.

Why it matters: It's just the latest company that caters to small businesses to see much of its customer base decimated amid the Covid-19 outbreak and related shut downs.

Investors see more volatility ahead as coronavirus hammers markets

Illustration: Eniola Odetunde/Axios

The stock market continues to bounce back and analysts and investors are lining up on opposing sides of the market's big new question — whether stocks have hit the bottom. The one thing they both agree on is that there will be significant volatility ahead.

On one side: The rebound from this recession may come at warp speed because the fall came at warp speed, Jim Paulsen, chief investment strategist at the Leuthold Group, tells Axios.