Business

Apple To Open About 100 Stores In US This Week

NBC News reports: Apple plans to open approximately 100 stores in the United States this week, a company representative told CNBC. In total, about 130 out of 271 Apple Stores in the United States will be open by the end of the week. Apple operates 510 stores around the world. Apple’s retail openings are being closely watched as both a …

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Theme Park: We’ll Be Open But You Might Get COVID

The New York Post reports: “Note that any public location where people are present provides an inherent risk of exposure to COVID-19 and we cannot guarantee that you will not be exposed during your visit,” reads a disclaimer on the park’s website. The blunt notice came alongside Universal’s announcement that its Florida theme parks would welcome visitors again on June …

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Latin America’s Largest Airline Declares Bankruptcy

Axios reports: LATAM Airlines Group SA said in a statement early Tuesday the firm and its affiliates in in the United States, Chile, Peru, Colombia and Ecuador have filed for Chapter 11 bankruptcy protection in the U.S. Why it matters: Latam is Latin America’s largest airline and its shareholders include Delta Air Lines. CEO Roberto Alvo noted in the statement …

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NYSE To Reopen: Masks Required, Handshakes Banned

The Wall Street Journal reports: The New York Stock Exchange is set to reopen its famed trading floor Tuesday, but it won’t be going back to normal. Only one-quarter of the NYSE’s usual population of traders will be back when the floor resumes business after a two-month closure prompted by the coronavirus pandemic. Traders who return must wear masks, avoid …

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US Airlines Are Filling Passenger Seats With Cargo

The New York Daily News reports: Airlines have long carried freight alongside passengers, but it never made sense to use their planes exclusively for cargo. That changed in March. As companies eliminated thousands of flights, cargo space became scarce and the price of sending goods by plane shot up, creating an economic case for repurposing idled passenger planes. “The cargo …

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Hertz Declares Bankruptcy In US And Canada [VIDEO]

Yahoo Finance reports: Global car rental company Hertz became the latest economic casualty of the coronavirus pandemic Friday, filing for bankruptcy in the US and Canada after more than a century in business. “The impact of COVID-19 on travel demand was sudden and dramatic, causing an abrupt decline in the Company’s revenue and future bookings,” Hertz said in a press …

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Hertz Shares Plunge On News Of Imminent Bankruptcy

MarketWatch reports: Shares of Hertz Global Holdings Inc. fell more than 30% in the extended session Friday after The Wall Street Journal reported the car-rental company’s bankruptcy could come as early as Friday night. Hertz has failed to reach a deal with top lenders, the newspaper reported, citing people familiar with the matter. Nationwide restrictions on travel put in place …

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Victoria’s Secret To Permanently Shutter 250 Stores

ABC News reports: Victoria’s Secret is closing 250 stores in shopping centers, malls and other locations in the U.S. and Canada. This news comes as the lingerie giant continues to see a plummet in sales during the coronavirus pandemic. With these closures, the brand’s parent company, L Brands, will eliminate 22% of the company’s 1,091 stores in addition to 1.26 …

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Chrysler Building To Get Viewing Deck After 75 Years

Oh look, normal news. The New York Post reports: It’s the Chrysler Building’s time to shine. The Art Deco skyscraper, built in 1928, is getting a brand-new observation deck. The Landmarks Preservation Commission (LPC) unanimously approved building owner RFR Realty’s proposal for a glass-walled viewing platform that will be open to the public. Alongside architecture firm Gensler, RFR presented renderings …

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Feds Arrest Ex-Green Beret In Escape Of Ex-Nissan CEO

Reuters reports: U.S. authorities on Wednesday arrested a former Special Forces soldier and another man wanted by Japan on charges that they enabled the escape of former Nissan Motor Co boss Carlos Ghosn out of the country. Federal prosecutors in Massachusetts said that former U.S. Green Beret Michael Taylor, 59, and his son, Peter Taylor, 27, helped Ghosn last year …

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Ford Plant Recloses After Workers Test COVID+ [VIDEO]

CBS News reports: Day two back on the job for thousands of workers at Chicago’s Ford assembly plant did not go as planned. Many were forced to leave early after two employees tested positive for COVID-19. CBS 2’s Charlie De Mar spoke with some employees who have mixed feelings about being back on the line. Some of those employees, of …

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Pharma Giant Discontinues Baby Powder Amid Lawsuits

CNBC reports: Johnson & Johnson said Tuesday that it is discontinuing its talc-based baby powder in the United States and Canada as demand fell in light of mounting lawsuits that said it caused cancer. J&J attributed the decline “in large part to changes in consumer habits and fueled by misinformation around the safety of the product and a constant barrage …

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Pier 1 Imports To Liquidate All Remaining Stores

The New York Post reports: Pier 1 Imports is calling it quits. The bankrupt home-goods retailer has asked a court for permission to liquidate its remaining 540 stores once they reopen, ending a 58-year legacy of selling colorful glassware, wicker furniture and other home decor. “This is not the outcome we expected or hoped to achieve,” Robert Riesbeck, Pier 1’s …

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Apple Stores To Require Temperature Check To Enter

The Washington Post reports: Apple’s retail stores are known for crowded areas of display devices ready for experimenting and the ability to make a purchase without needing to line up at a cash register. But as the Cupertino, Calif.-based tech giant reopens about 100 of its retail stores globally, the customer experience is bound to feel different. Apple will be …

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Delta Airlines To Resume Suspended Flights In June

Reuters reports: Delta Air Lines said on Monday it would resume flying several major routes in June that were suspended due to the coronavirus pandemic, including some Trans-Atlantic and Caribbean destinations. Delta is adding roughly 100 more daily flights in June versus May, including service out of its Atlanta hub and New York’s John F. Kennedy International Airport to Florida, …

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100,000 Cruise Workers Still “Trapped” Aboard Ships

Complex reports: It’s been two months since the cruise industry closed down due to the COVID-19 pandemic. Now, more than 100,000 workers are still trapped on ships, with many going unpaid. According to the Miami Herald, crew members don’t know when they’ll be able to go home. While cruises allowed most passengers to disembark the ships, employees have been left …

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NYC Urgent Care Chain: Free Tests For The Uninsured

The New York Daily News reports: CityMD will provide free coronavirus tests to uninsured New Yorkers as part of a partnership with the city aimed at getting tens of thousands of people tested every day, Mayor Bill de Blasio said Sunday. The urgent care company is offering testing at each of its 123 walk-in sites in the area, Hizzoner said, …

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J.C. Penney Files For Chapter 11 Bankruptcy Protection

CNBC reports: J.C. Penney, weighed down by debt and battered by the coronavirus, has filed for bankruptcy. Sales at J.C Penney have fallen annually since 2016. Its roughly 860-store footprint is less than a quarter of its store base in 2001. The company’s nearly $11 billion in sales for the last fiscal year are almost a third of its sales …

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United Only Has Work For 12% Of Flight Attendants

Reuters reports: United Airlines Holdings Inc has told staff that it only has work for about 3,000 of its about 25,000 flight attendants in June, sources said, and warned of job losses if demand does not recover by the time government payroll aid expires in the fall. United is paying flight attendants until Sept. 30 thanks largely to $5 billion …

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Tesla To Unveil Breakthrough “Million Mile” Battery

Reuters reports: Electric car maker Tesla plans to introduce a new low-cost, long-life battery in its Model 3 sedan in China later this year or early next that it expects will bring the cost of electric vehicles in line with gasoline models, and allow EV batteries to have second and third lives in the electric power grid. For months, Tesla …

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