Tag Archives: business

NY Gov: All Non-Essential Workers Must Stay At Home

NBC News New York reports: Gov. Andrew Cuomo announced Friday that 100 percent of non-essential work forces are now required to stay home, calling it “the most drastic measure we can take” as he said the entire state of New York was “on pause.” Two days ago, that decree applied to 50 percent of the non-essential work force. A day …

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MINNESOTA: Gov Classifies Grocery Store Workers As Emergency Personnel, Move Gets Them Free Child Care

NBC News reports: Minnesota has classified grocery store workers as emergency personnel, allowing them to access free child care provided by the state. As people continue to practice social distancing and restaurants and bars remain closed, grocery store workers have essentially become first responders to the crisis, making sure everybody stays fed. For this reason, Minnesota Gov. Tim Walz added …

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CLOSING: Shopping Malls, Auto Factories, Ikea, Macy’s

CNBC reports: The biggest mall owner in the U.S., Simon Property Group, announced it will be closing all of its malls and outlet centers in the country, effective at 7 p.m. until March 29. “The health and safety of our shoppers, retailers and employees is of paramount importance,” CEO David Simon said in a statement. Simon is the first U.S. …

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Dow Jones Rebounds +1000 Points On Stimulus News

NBC News reports: Stock markets surged on Tuesday, after the government doubled down on its economic response to the coronavirus outbreak, ramping up financial assistance for affected businesses, and floating a $1 trillion stimulus package that includes putting cash in the hands of Americans. The Dow Jones Industrial Average ended the day with a gain of around 1,000 points, bouncing …

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Amazon Pauses Inbound “Non-Essential” Products

Reuters reports: Amazon.com Inc is suspending sellers from sending non-essential products to its U.S. and U.K. warehouses until April 5 in the latest move to free up inventory space for much-needed supplies that are in shortage as a result of the coronavirus outbreak. In a note sent to sellers on Tuesday, Amazon said it is seeing increasing online shopping demand …

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Marriott Hotels Set To Lay Off Tens Of Thousands

USA Today reports: Marriott International is poised to place tens of thousands of employees on furlough as the hotel giant reels from the coronavirus outbreak. The travel industry is grappling with a tidal wave of cancelations as Americans heed public warnings to stay home to prevent the spread of COVID-19. Marriott, which had about 174,000 employees globally at the end …

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Amazon Seeks 100,000 New Hires As Orders Surge

The New York Post reports: Amazon late on Monday announced plans to hire 100,000 new workers in the U.S. to keep up with a surge of orders from people confined to their homes during the coronavirus outbreak. The Seattle-based company said this weekend that a steep increase of orders is putting its operations under pressure. It warned shoppers that it …

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Starbucks Closes Some Outlets, To-Go Only All Others

The Seattle Times reports: In a bid to slow the spread of the novel coronavirus, Starbucks will temporarily close some of its North American locations and will shift to a “to-go” model at the rest of its more than 10,000 North American stores. The closures, which were announced and implemented Sunday afternoon, will last at least two weeks and will …

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Producers Reassure: Plenty Of Food In US Supply Chain

The New York Times reports: The aisles and aisles of empty store shelves give the appearance that the United States, improbably and alarmingly, is running out of food. But the nation’s biggest retailers, dairy farmers and meat producers say that isn’t so. The food supply chain, they say, remains intact and has been ramping up to meet the unprecedented stockpiling …

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Ohio Gov Closes Bars, Takeout Only For Restaurants

The Columbus Dispatch reports: Ohio Gov. Mike DeWine ordered bars and restaurants to shut down to slow the spread of coronavirus. Ohio has 37 cases diagnosed so far. The governor also indicated that schools might stay closed through the school year. Gov. Mike DeWine and the state health director ordered all Ohio bars and restaurants to close by 9 p.m. …

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PA Gov Orders Closure Of Bars, Eateries, Liquor Stores In Bucks, Chester, Delaware, & Montgomery Counties

The Philadelphia Inquirer reports: Gov. Tom Wolf and Pennsylvania Department of Health this evening urged non-essential businesses to temporarily cease operations in Bucks, Chester, Delaware and Montgomery Counties to slow the spread of the coronavirus. The state explicitly told bars, liquor stores and restaurants to curtail business until further notice. It also said restaurants should stay open only for carry-out …

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France To Close Restaurants, Cinemas, And Nightclubs

NBC News reports: All restaurants, cafés, cinemas and clubs in France will close at midnight in an effort to stop the spread of the coronavirus, the French prime minister Édouard Philippe said in a press conference. He said the virus is spreading faster even though limitations on mass gatherings were imposed. “People are still going to cafes and restaurants which …

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Major Cruise Lines To Suspend Operations For 30 Days

The Observer reports: Norwegian and Royal Caribbean cruise lines announced temporary suspensions of their operations in an effort to help quell global spread of the novel coronavirus. The announcements by the two companies follow similar moves on Thursday by competitors Princess, Disney, and Viking cruise lines, and suspensions earlier Friday by Carnival Corp.-owned Costa Cruises and AIDA Cruises. Norwegian said …

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Delta Airlines To Slash Flight Capacity By 40%

Axios reports: Delta Airlines will reduce its flight capacity by 40% for the next four months due to the novel coronavirus pandemic, a dramatic increase from the original 15% reduction, CNBC reports. The airline industry has had to curb flights as it grapples with lack of demand, as Americans are advised to avoid nonessential travel. CNBC notes Delta is seeing …

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Modell’s Goes Bankrupt, Will Shutter All 115 Stores

ABC News reports: Modell’s Sporting Goods, the century-old family-owned sporting goods chain, has filed for Chapter 11 bankruptcy and will be closing its remaining 115 stores. It becomes the latest traditional retailer to succumb to a fast-changing environment. In recent years Payless ShoeSource Corp., Toys R Us and children’s chain Gymboree have filed for Chapter 11 reorganization or liquidated their …

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Dow Jones Ends 11-Year Bull Run With 1460-Point Loss

Investor’s Daily reports: The Dow Jones Industrial Average dropped more than 5.2% to retrace all of Tuesday’s rebound and more in the stock market today. At the day’s low of 23,606, the Dow industrials also fell 20.2% below its 29,568 peak to meet the textbook definition of a bear market-level decline. Among the biggest losers on the 30-stock Dow industrials, …

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Airlines Continue To Slash Flights As Bookings Plunge

The BBC reports: Thousands of flights have been cancelled worldwide as airlines struggle to cope with a slump in demand caused by the coronavirus outbreak. Ryanair will stop services to and from Italy from Friday until 8 April, with BA scrapping its routes until 4 April as the country goes into lockdown. EasyJet has cancelled all of its flights to …

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MGM Closes Buffets At 7 Vegas Casinos Over Virus

CBS Las Vegas reports: GM Resorts International says they will be temporarily closing their buffets at ARIA, Bellagio, MGM Grand, Mandalay Bay, The Mirage, Luxor and Excalibur amid coronavirus concerns. The changes will go into effect on Sunday, March 15, according to their Public Relations department. The closures are temporary and MGM says it will be evaluated on a weekly …

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Dow Jones Plummets 2023 Pts, Worst Day Since 2008

The Associated Press reports: Coronavirus fears and a crash in oil prices sent a shudder through financial markets Monday, with stocks plummeting so fast on Wall Street that they triggered the first automatic halt in trading in over two decades. The Dow Jones Industrial Average plunged more than 2,000 points at one point during the day, or nearly 8 percent, …

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NYSE Halts Trading As Stocks Plummet At Opening Bell

USA Today reports: U.S. stock futures and bond yields tumbled Monday, extending a global rout after a sharp drop in crude prices intensified concerns about a global recession. Dow futures tumbled 1,255 points while Standard & Poor’s 500 futures sank 4.9%. Futures contracts hit a 5% daily down limit on Sunday evening, triggering a halt in trading. On Monday, the …

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