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Tag Archives: Coronavirus: Business

As Covid cases surge in California, Hollywood pauses TV production

As Covid cases surge in California, Hollywood pauses TV production

General view of the Hollywood Sign on November 17, 2020 in Hollywood, California. AaronP/Bauer-Griffin | GC Images | Getty Images After months of rising coronavirus cases, hospitalizations and deaths in California, several Hollywood guilds and labor unions are recommending that in-person production of television shows and independent films be temporarily …

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How Walmart plans to take over health care

How Walmart plans to take over health care

Walmart, the world’s largest retailer, wants to be your doctor, too. In September 2019 the company known for its “Everyday Low Prices” launched Walmart Health, a primary care clinic, at a store in Dallas, Georgia. The doctor-run clinic, the first of its kind for the big box retailer, offers services …

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Sales plummeted 80%, the lowest haul in decades

Sales plummeted 80%, the lowest haul in decades

A Cinemark employee serves popcorn to a customer at a concession stand at Cinemark’s Century 16 at the South Point Hotel & Casino on August 14, 2020 in Las Vegas, Nevada. Ethan Miller | Getty Images News | Getty Images With just a few days before the end of the …

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How Covid derailed Olive Garden’s success

How Covid derailed Olive Garden's success

When you think of free breadsticks, unlimited salad and pounds of pasta, one name comes to mind — Olive Garden. But the Italian eatery, known for its $5 take-home meal, has fallen on hard times as the coronavirus pandemic has wreaked havoc on the restaurant industry. In December, Darden Restaurants …

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Restaurant revenue has fallen, despite delivery boom

Restaurant revenue has fallen, despite delivery boom

The chart shows U.S. restaurants’ weekly Source: UBS Evidence Lab U.S. restaurant revenue is falling as takeout and delivery orders fail to make up for lost dine-in sales. UBS Evidence Lab found that dine-in restaurant sales plunged 69% in the week ended Nov. 29. In that same week, takeout and …

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The 10 biggest retail bankruptcies of 2020

The 10 biggest retail bankruptcies of 2020

Robert Barnes | Getty Images More than three dozen retailers, including the nation’s oldest department store chain, filed for bankruptcy this year, marking an 11-year high. Pre-pandemic, several of these retailers were already teetering on the brink of survival. But the Covid health crisis pummeled the industry. Lockdown orders put …

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What the superhero film can make

What the superhero film can make

Gal Gadot stars as Wonder Woman in “Wonder Woman 1984.” Warner Bros. Can a nostalgia-packed superhero flick convince people to leave their couches and head to the cinemas? “Wonder Woman 1984” seeks to answer that question. Movie theater owners are hopeful that the “Wonder Woman” sequel, which arrives Christmas Day, …

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Chipotle will not require its employees to get the coronavirus vaccine

Chipotle will not require its employees to get the coronavirus vaccine

Chipotle Mexican Grill CEO Brian Niccol said Tuesday that the company will “strongly encourage” employees to receive the coronavirus vaccine. The Centers for Disease Control and Prevention recommended that foodservice workers are placed next in line to receive the inoculation during phase 1c of vaccine distribution. They fall behind the …

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Darden Restaurants (DRI) Q2 2021 earnings beat, sales fall short

Darden Restaurants (DRI) Q2 2021 earnings beat, sales fall short

Customers arrive at an Olive Garden location in San Antonio, Texas. Callaghan O’Hare | Bloomberg | Getty Images Darden Restaurants on Friday reported quarterly revenue that fell short of analysts’ expectations as another wave of pandemic-related dining restrictions weighed on its same-store sales. For next quarter, typically its best of the …

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Pent-up demand will boost airline stocks in 2021 and beyond: Trader

Pent-up demand will boost airline stocks in 2021 and beyond: Trader

It’s no secret airlines have had an unprecedently bad year. JPMorgan expects the pain to continue for some companies, with analysts double downgrading shares of JetBlue, Spirit and United Airlines to underweight from overweight on Wednesday on overvaluation concerns. The firm maintained its overweight ratings on Delta, Alaska Airlines and …

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AMC could benefit from bankruptcy, analysts say

AMC secures $100 million investment but bankruptcy concerns still loom

For the largest cinema chain in the world, bankruptcy could be the best option to survive the coronavirus pandemic. The coronavirus pandemic has battered theaters since March, crunching their bottom lines, but no one has been hit harder than AMC. The cinema chain headed into the pandemic with nearly $5 billion in …

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What it’s like in Pfizer, Moderna trials

What it's like in Pfizer, Moderna trials

The Pfizer–BioNTech coronavirus vaccine is both safe and effective, according to the U.S. Food and Drug Administration. In a report released Tuesday morning, the FDA indicated that it could greenlight the country’s first Covid-19 inoculation within days.  If Pfizer’s shot is granted an emergency use authorization, or EUA, the immunizations …

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Can you be fired if you refuse the Covid vaccine?

Can you be fired if you refuse the Covid vaccine?

Vials with Covid-19 Vaccine stickers attached and medical syringe with the US pharmaceutical company Pfizer and BioNTech German biotechnology company logos. Vincent Kalut | Photonews | Getty Images The country’s first Covid vaccine could be authorized for emergency use as soon as Thursday. If Pfizer and BioNTech get the green …

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Petco S-1 IPO filing drops

Petco S-1 IPO filing drops

Pedestrians cross a street in front of a Petco Animal Supplies Inc. store in New York, U.S., on Wednesday, Sept. 9, 2020. Angus Mordant | Bloomberg | Getty Images Petco Health and Wellness has filed an S-1 for an initial public offering as consumer spending on pets rises during the …

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Walmart gives bonuses to employees, extends emergency leave

Walmart sees localized grocery stockpiling as Covid cases rise

A line forms outside of the Walmart in Quincy, MA on April 4, 2020 as the store implements new restrictions on capacity during the coronavirus pandemic. People wait outside wearing masks and distanced apart. Boston Globe | Boston Globe | Getty Images Walmart said Thursday it will pay another pandemic-related …

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Norwegian extends suspension of most cruises through March

Norwegian extends suspension of most cruises through March

Workers near a cruise ship of the Norwegian Cruise Line which is in dry dock receiving hull maintenance and interior modernization work. Gerald Julien | AFP | Getty Images Norwegian Cruise Line Holdings announced Wednesday that it is again extending its suspension of sailing, this time through March, for most …

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Time to test the limits of e-commerce

Time to test the limits of e-commerce

An employee wearing a protective mask scans a package at an Amazon.com Inc. fulfillment center in Kegworth, U.K., on Monday, Oct. 12, 2020. Chris Ratclifre | Bloomberg | Getty Images Cyber Monday will put retail websites and warehouses to their biggest test yet. The industry is bracing for what is …

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Holiday gift-givers want their money to matter

Holiday gift-givers want their money to matter

Customer Tamara Jenkins tries on a hat with Meeka Robinson Davis, owner of One-Of-A-Kind Hats, as Davis’ daughter Chrstiana Davis looks on, at the store in the Windsor Hills neighborhood of Los Angeles, California, November 24, 2020. Patrick T. Fallon | AFP | Getty Images Holiday shoppers are not only …

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What four retail analysts are watching

What four retail analysts are watching

This year’s Black Friday is shaping up to be much different than usual. The Covid-19 pandemic’s impact on the retail sector and particularly brick-and-mortar stores was on full display Friday as deal-hungry shoppers opted to surf the web instead of hitting the mall for sales. Former Saks CEO Steve Sadove …

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Black Friday 2020 traffic looks bleak at stores, malls

Black Friday 2020 traffic looks bleak at stores, malls

Hardly any lines. Empty parking lots. More employees than customers in stores. These are just some of the scenes playing out across the United States the morning of Black Friday 2020, a shopping holiday that in the past has drawn hoards of people to stores to score doorbuster deals before …

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This will be the worst Thanksgiving box office in decades

This will be the worst Thanksgiving box office in decades

Clark Duke, Kailey Crawford and Cloris Leachman voice Thunk, Sandy and Gran in “The Croods: A New Age” Universal The week of Thanksgiving is typically a robust time at the box office, but this year the coronavirus pandemic has crippled the film industry, leaving little doubt that the November holiday …

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‘The Croods: A New Age’ reviews: What critics are saying

'The Croods: A New Age' reviews: What critics are saying

Clark Duke, Kailey Crawford and Cloris Leachman voice Thunk, Sandy and Gran in “The Croods: A New Age” Universal Remember “The Croods?” It wouldn’t be surprising if your answer was “no.” The Dreamworks Animation film seemed to blip on the radar in 2013 and disappear despite racking up $600 million …

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Best Buy (BBY) Q3 2021 earnings beat on strong online sales

Retail earnings reports to watch

Best Buy’s third-quarter earnings soared past Wall Street’s expectations but shares dropped more than 5% in premarket trading Tuesday, as the retailer warned of tailwinds from higher shipping costs, inventory challenges and lower-margin holiday sales. The retailer declined to provide an outlook for the fourth quarter — a significant period …

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Former subprime player shorting mortgage market

Former subprime player shorting mortgage market

During the mortgage bubble in the early 2000s, when investors were feverishly trading faulty subprime bonds, a few savvy skeptics recognized the bonds were doomed, so they bet against them. They shorted the bonds and made billions. Now one of those players is doing the same thing, but not on subprime. …

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Merck acquires OncoImmune to ramp supply of promising Covid drug

Merck acquires OncoImmune to ramp supply of promising Covid drug

Pharmaceutical giant Merck said it plans to acquire privately-held OncoImmune for $425 million in cash, gaining rights to an under-the-radar drug that’s shown striking results in hospitalized patients with Covid-19. The medicine, referred to as CD24Fc, was shown in a late-stage clinical study in September to reduce the risk of …

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Black Friday is almost here. And shoppers are anxious.

Black Friday is almost here. And shoppers are anxious.

A shopper uses his phone while wearing a face mask due to the coronavirus disease (COVID-19) pandemic outside the Christiana Mall in Newark, Delaware U.S. November 19, 2020. Mark Makela | Reuters Black Friday is almost here. And consumers’ anxiety about shopping in stores and enclosed malls is only escalating, …

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Tom Steyer, Ann O’Leary reflect on California business recovery

Tom Steyer, Ann O'Leary reflect on California business recovery

California Gov. Gavin Newsom’s seven-month-old Task Force on Business and Jobs Recovery is disbanding as the coronavirus pandemic reaches a second peak, but his co-chairs predict the state will have a strong economic turnaround once the pandemic is past. Billionaire businessman Tom Steyer, one of the co-chairs, said in a …

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Will audiences return to the movies? They already have.

Will audiences return to the movies? They already have.

Hollywood has always captured the fascination of the American public. But, as Covid-19 takes aim at global businesses, it’s been for the wrong reasons. Even in spite of the encouraging news on vaccines from Pfizer and Moderna that have people finally believing that there may be an end in sight …

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What to watch amid uptick in coronavirus cases

What to watch amid uptick in coronavirus cases

Covid-19 crackdowns are cutting into U.S. equity returns. Recent upticks in U.S. coronavirus case counts weighed on the major averages Thursday, with the Dow, S&P 500 and Nasdaq Composite eking out modest gains in afternoon trading after sustaining losses earlier in the session. Market analysts were looking longer term at …

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States impose targeted restrictions ahead of Thanksgiving

States impose targeted restrictions ahead of Thanksgiving

A medical assistant wears a powered air purifying respirator (PAPR) hood as he collects a nasal swab sample from a patient at a drive-thru COVID-19 testing site operated by University of Utah Health at Rice-Eccles Stadium, as the coronavirus disease (COVID-19) outbreak continues in Salt Lake City, Utah, U.S., November …

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Lowe’s (LOW) reports Q3 2020 earnings miss

Lowe's (LOW) reports Q3 2020 earnings miss

A shopper visits a Lowe’s hardware store in Philadelphia, Pennsylvania, November 4, 2020. Mark Makela | Reuters Lowe’s shares fell Wednesday after the home improvement retailer reported third-quarter earnings and a profit outlook slightly short of estimates, weighed down by higher labor costs and investments in its e-commerce business. Its …

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Retailers try to make returning online purchases easier

Retailers try to make returning online purchases easier

Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania. Jennah Moon | Bloomberg | Getty Images First comes the holiday season, then the flood of returns. With e-commerce sales exploding during the coronavirus pandemic, retailers may see more returns than ever before. After all, shoppers do not …

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Walmart (WMT) Q3 2021 earnings

Walmart (WMT) Q3 2021 earnings

Customers shop at a Walmart store on May 19, 2020 in Chicago, Illinois. Scott Olson | Getty Images Walmart reported third-quarter earnings on Tuesday that topped Wall Street’s expectations as customers continued to shop online and sent U.S. e-commerce sales soaring by 79%. The discounter said customers are embracing the …

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Home Depot (HD) Q3 2020 earnings

Home Depot (HD) Q3 2020 earnings

A customer wears a protective mask while unloading purchases off a cart outside a Home Depot Inc. store in Reston, Virginia, on Thursday, May 21, 2020. Andew Harrer | Bloomberg | Getty Images Home Depot is set to report third-quarter earnings on Tuesday before the market opens as the retailer …

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Jim Cramer’s 5 stock plays for the vaccine distribution pipeline

Jim Cramer's 5 stock plays for the vaccine distribution pipeline

After Wall Street welcomed more positive data from a biotech firm working on a coronavirus vaccine Monday, CNBC’s Jim Cramer turned his attention to investment opportunities linked to the vaccine distribution pipeline. “Now that the vaccine developers are approaching the finishing line, distributing this thing is priority number one,” the …

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Shoppers seek out more meaningful gifts amid pandemic

Shoppers seek out more meaningful gifts amid pandemic

Care packages, such as the ones made by Gift Box Love Co., have been a popular gift item on Etsy during the pandemic. Gift Box Love Co. For about two years, Ashley Houck has put together care packages of items like candles, bath salts and caramels with a personalized note. …

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Warner Bros. weighs ‘Wonder Woman 1984’ options

Warner Bros. weighs 'Wonder Woman 1984' options

Gal Gadot stars as Wonder Woman in “Wonder Woman 1984.” Warner Bros. With six weeks to go before “Wonder Woman 1984” is set to debut in theaters, Warner Bros. executives are still debating the film’s release strategy. According to multiple media reports, studio execs are torn between a strategy that …

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Coronavirus hurt theme parks, costing Disney $2.4 billion

Coronavirus hurt theme parks, costing Disney $2.4 billion

Views of the Disneyland theme park, still closed due to COVID-19 on July 11, 2020 in Anaheim, California. AaronP/Bauer-Griffin | GC Images | Getty Images While the majority of Disney’s theme parks were open during the company’s fiscal fourth quarter, the continued closure of Disneyland in the U.S. resulted in …

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Disneyland still closed in California, dragging on Disney earnings

Disneyland still closed in California, dragging on Disney earnings

Brittany Losey takes a picture with her daughter Madison Losey, 7, outside the entrance to Disneyland at the Disneyland Resort is closed in Anaheim, CA, on Thursday, October 22, 2020. MediaNews Group/Orange County Register via Getty Images | MediaNews Group | Getty Images Before the pandemic Michael Afram’s transportation company …

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EBay touts sale of rare Air Jordan sneakers

EBay touts sale of rare Air Jordan sneakers

EBay has dropped one of its largest collections of Air Jordans in the e-commerce company’s history, as it looks to broaden its reach in the $2 billion secondary sneaker market, which is seeing rapid growth during the coronavirus pandemic. In recent days, it has been rolling out 60 sneakers per …

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