December 17, 2020 - Biz in 60

US jobless claims hit highest level in three months The number of Americans filing for unemployment benefits has hit its highest level since early September. That's as states re-introduce lockdown measures to deal with a surge in coronavirus cases. Another 885-thousand people lodged jobless claims last week, compared with 862-thousand in the prior week. Economists had expected claims to fall to around 800-thousand. Saudi Arabia's economy shrinks for fifth straight quarter Saudi Arabia's economy has contracted for the fifth consecutive quarter as oil prices hit historic lows during the pandemic. Gross domestic product shrunk 4-point-6 percent in the third quarter, rebounding slightly from the 7-percent contraction in the previous period. The kingdom's economy is expected to shrink by 3-point-7 percent this year. Tyson Foods fires seven managers over COVID-19 betting Tyson Foods has fired seven management employees at its biggest pork processing plant in the United States. That's after an independent investigation into allegations they took bets on how many workers would get infected with COVID-19. More than 1-thousand employees have been infected and at least six have died due to an outbreak at the Waterloo plant.