Jul 18, 2018

Trump administration to investigate uranium imports

U.S. Secretary of Commerce Wilbur Ross speaks at the SelectUSA 2018 Investment Summit on June 22, 2018 in National Harbor, Maryland. Photo: Win McNamee/Getty Images

Secretary of Commerce Wilbur Ross has opened an investigation into whether U.S. dependence on uranium imports poses a threat to national security.

Why it matters: Domestic production of uranium, which is a key resource for both nuclear weapons and the nuclear reactors that power 20% of the American electric grid, have dropped from 49% of total uranium requirements in 1987 to 5% today. The investigation could ultimately result in new tariffs at a moment when more than half of America's nuclear reactors are losing money, according to Bloomberg.

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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: Yelp is the latest company catering to small businesses that has seen much of its customer base decimated amid the COVID-19 outbreak and related shutdowns.

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.