Tag Archives: business

The Hill reports: Walmart announced Thursday that it has removed ammunition and firearms from sales floors at its U.S. locations in anticipation of “civil unrest” in parts of the country. The retail giant said it was removing guns and ammunition to avoid thefts if its stores are broken into, though the company will still sell the products, The Wall Street …

ABC News reports: As indoor entertainment venues continue to struggle against the coronavirus pandemic, AMC Theaters announced this weekend it’s got a special offer for moviegoers looking to see some of their favorite flicks on the big screen. And they won’t have to worry about getting the worst seat in the house. The theater chain is offering rentals for an …

The Washington Post reports: Amazon said Thursday that nearly 20,000 of its U.S. employees had tested positive, or had been presumed positive, for the coronavirus since the pandemic started spreading through the U.S. this year. The retailer has faced harsh criticism this year as hundreds of workers and critics have said it hasn’t done enough to keep employees safe as …

The New York Daily News reports: Lower Manhattan retail mecca Century 21, after surviving the 9/11 attacks across the street, couldn’t outlast COVID-19. The retail company is closing its flagship location on Cortlandt St. and its 12 other stores after filing for bankruptcy protection in Manhattan, according to a statement released Thursday. The Manhattan location opened 59 years ago, with …

The Verge reports: Amazon’s top reviewers in the UK appear to have engaged in fraud, leaving thousands of five-star ratings in exchange for money or free products. The company took down 20,000 product reviews following an investigation by the Financial Times. Scams like these typically start on social networks and messaging apps such as Telegram, where companies can meet potential …

Just in from Justice Department: Audrey Strauss, the Acting United States Attorney for the Southern District of New York, and William F. Sweeney Jr., the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today that DANIEL KAMENSKY, the founder and manager of New York-based hedge fund Marble Ridge Capital (“Marble Ridge”), was …

Business Insider reports: With Election Day on the horizon, many companies are giving their employees the day off to vote. But Old Navy is taking a different approach to get employees involved in the democratic process. The retailer announced on Tuesday that it will pay store employees for eight hours who serve as poll workers for the 2020 election. The …

The Birmingham News reports: On Page 11 of the state’s revised “Safer at Home” Health Order that was issued on Tuesday is a tiny nugget that will make buffet fans – but especially, their owners — rejoice: Effective 5 p.m. Monday, all buffets, salad bars and self-serve drink stations are OK to reopen as long as there is an employee …

USA Today reports: Payless is back in time for the new school year with a new website, a new name and plans for hundreds of bricks-and-mortar stores. After emerging from bankruptcy for the second time in January 2020 and shuttering its remaining U.S. stores in June 2019, the footwear retailer’s new website is live at Payless.com. The company announced in …

The Verge reports: AMC Theaters has detailed its plans to reopen movie theaters throughout the US, in addition to a new deadline for its MoviePass-style A-List subscription, in an email sent to customers on Wednesday. Starting August 20th, AMC plans to have more than 100 theaters open, and it says it will continue opening locations “such that about two-thirds of …

Mother Jones reports: In late July, a wild chain of events occurred when the Trump administration decided to give Eastman Kodak, the film giant that went bankrupt in 2012, an unprecedented $765 million government loan through the Defense Production Act. The agreement was officially announced on July 28, but the previous day, the price of Kodak’s stock began to surge, …

CNBC reports: McDonald’s is suing its former CEO Steve Easterbrook for allegedly lying during the company’s internal probe into his behavior. The fast-food chain’s board announced in November that it had terminated Easterbrook for having a consensual relationship with an employee and tapped Chris Kempczinski as his successor. A probe allegedly revealed that Easterbrook lied to the company and destroyed …

The Verge reports: Amazon has had talks with Simon Property Group about converting some of its mall spaces into fulfillment centers. The conversations started before the coronavirus pandemic, and before the latest wave of bankruptcy filings by mall stalwarts like Lord & Taylor, JCPenney, and Nieman Marcus. It’s a bit of an on-the-nose example of how e-commerce is overtaking the …

The Wall Street Journal reports: The Securities and Exchange Commission is investigating the circumstances around Eastman Kodak Co.’s  announcement of a $765 million government loan to make drugs at its U.S. factories, according to people familiar with the matter. News of the loan last week caused Kodak’s shares to rise as high as $60, before falling to about $15 on …

Reuters reports: After years of being part of a future that never quite arrived, the coronavirus pandemic has put U.S. online car sellers on the map. Investors are buying in. Vroom’s shares are now trading at more than double their $22 launch price on June 8. Carvana’s market value is near that of No. 2 U.S. automaker Ford Motor Co. …

CNBC reports: Lord & Taylor, one of America’s oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Banks, filed for bankruptcy as well. Many of the companies that have filed for Chapter 11 in recent weeks were already struggling, but …

Via press release from the US Mint: Simply put, there is an adequate amount of coins in the economy, but the slowed pace of circulation has meant that sufficient quantities of coins are sometimes not readily available where needed. You may be experiencing this in your local communities. We are asking for your help in improving this coin supply issue. …

Via press release from Dunkin’ Donuts: From the beginning of the coronavirus (COVID-19) pandemic, our priority has been on the safety of our guests, franchisees and their restaurant crew. To help bring consistency to Dunkin’ locations across the country, we will now require that all guests wear a face covering while inside our restaurants beginning Wednesday, August 5. At Dunkin’, …

The Hill reports: Around 480 business groups have teamed up to call on lawmakers to provide liability protections for businesses against coronavirus-related lawsuits in Congress’ next relief package. The coalition, led by the U.S. Chamber of Commerce, includes the National Association of Manufacturers, Airlines for America, National Restaurant Association, Federation of American Hospitals and the National Retail Federation. They sent …

Reuters reports: Apple said it would re-close more than two dozen stores in seven states starting Thursday, including its home state of California, bringing total closures to 77 as coronavirus cases continue to rise. The stores will close in Alabama, Georgia, Idaho, Louisiana, Nevada and Oklahoma, it said on Wednesday, when additional stores had already closed in Florida, Mississippi, Texas …