Lord & Taylor files for Chapter 11 bankruptcy

By ABC News (NEW YORK) -- Lord & Taylor has become the latest retailer to file for bankruptcy as the coronavirus pandemic has wreaked havoc on retail chains and sales around the country.

US GDP contracted by a record 32.9% pace last quarter

By CATHERINE THORBECKE, ABC News(WASHINGTON) -- The U.S. economy, as measured by real GDP, contracted at a record-shattering 32.9% pace last quarter, according to government data released Thursday.