Coronavirus: Business
Ulta Beauty strikes deal to open hundreds of shops at Target stores
Target has struck a deal with Ulta Beauty to open shops with makeup, skincare, hair products and more inside of hundreds of its stores. Source: Ulta Beauty Target and Ulta Beauty announced a deal Tuesday to open makeup and skincare shops inside of hundreds of Target stores across the country. Target CEO Brian Cornell said …
Ford second-quarter sales fall 33.3% due to coronavirus, stay-at-home orders
A Ford Motor employee inspects the all-new 2020 Ford Explorer before it rolls of the line to ensure quality for our customers. Ford Ford Motor reported Thursday that its U.S. vehicle sales in the second quarter were down 33.3%, in-line with industry expectations as the coronavirus caused consumers to stay at home, and dealerships and factories to shutter. …
Trucking stocks are next to break out, chart analyst says
Shipments are surging. Shares of FedEx soared nearly 12% on Wednesday after a stronger-than-expected earnings report fueled by a pandemic-driven pickup in home deliveries. While Covid-19 shutdowns still ate into the company’s profits, particularly those it gets from its more lucrative business-to-business clients, residential shipments made up for some of the pain. The action marked …
Macy’s to slash 3,900 corporate jobs in restructuring
A person looks into a closed Macy’s Inc. department store near Union Square in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty Images Macy’s announced Thursday it is cutting 3,900 corporate jobs — 3% of its total workforce — to reduce costs as it struggles with the effects of …
Billions in PPP loan money remains untapped by small businesses
In 14 days, the Small Business Administration processed 14 years’ worth of loans, in the first round of funding for the Paycheck Protection Program. The second round has been an entirely different story. After a rush to replenish the program with $310 billion in additional funding, the second funding round began April 27. More than a …
Disney’s ‘Frozen’ becomes first musical to shutter amid coronavirus
NEW YORK, NY – MARCH 22: Olaf and Greg Hildreth during the Broadway Musical Opening Night Curtain Call for ‘Frozen’ at the St. James Theatre on March 22, 2018 in New York City. (Photo by Walter McBride/Getty Images) Walter McBride Disney’s stage production of the hit animated film “Frozen” has taken its final bow on …
McKinsey says technology helping Asia cope better
Technology has helped some countries in Asia respond quickly to disruptions caused by the coronavirus pandemic and allowed them to cope a little better, according to Mckinsey & Company’s chairman for the region. The consultancy said in its latest report there are several areas where policymakers and companies in Asia relied on technology to safeguard people’s …
Local businesses using new technology to screen temperatures
FRESNO, Calif. (KFSN) — While non-essential businesses remain closed, some business owners have taken a proactive approach to a day when the local economy will reopen. “No matter what we do, we can’t prevent everything,” says Rick Souza, General Manager of No Surrender Unlimited. “Whether its COVID-19 or the common flu, what we can do …
Florida jobless claims surpass California’s as unemployment spreads
Florida overtook California on Thursday as the U.S. state with the most weekly unemployment claims as Tallahassee began to process in earnest its sizable backlog of filings. Florida, which reported 432,465 jobless claims for the week ended April 25, topped California’s 328,042, marking the first time since the week ended March 21 that the Golden State didn’t …
Millions of Americans can’t access unemployment benefits: EPI survey
New York state Department of Labor office in Brooklyn, New York on April 14, 2020. John Nacion | NurPhoto | Getty Images WASHINGTON — The number of Americans who have lost their jobs during the coronavirus pandemic could be even bleaker than official government data suggests. For every 10 people who successfully filed for unemployment insurance …
