Author: support

The Disneyland resort in Anaheim, CA, will begin to reopen on 9 July, the same date as Walt Disney World in Orlando will begin welcoming visitors again, the Disney Co. announced on 10 June. The Downtown Disney shopping area will open first, followed on 17 July by the Disneyland and California Adventure theme parks. Walt...

Ulta Beauty Inc., whose more than 1,200 stores dot malls and shopping centers around the U.S., has announced a “clean sheet” review to decide whether to keep stores open, remodel them, move some, or shift more operations online. The review had been planned but the economic shutdown made it a priority, said Scott Settersten, Ulta’s...

AMC Entertainment Holdings, the world’s largest movie theater chain with more than 1,000 theaters around the world, lost a net $2.2 billion in its most recently ended quarter as the global economic shutdown darkened the company’s 11,000 movie screens. In the first two months, AMC’s revenue of this year was 10 percent above that of...

The world’s largest chain of coffee cafés lost as much as $3.2 billion in revenue during its most recent fiscal quarter, the company reported. Starbucks also expects combined sales in its two biggest markets to drop between 10 and 20 percent during its current fiscal year, with sales essentially flat in China and remaining negative...

As Facebook, Google, and other Bay area tech companies have decided to permanently allow employees to work at home, apartment rents in the area have suddenly plunged. In June, a typical one-bedroom apartment in the San Francisco area was renting for 9.2 percent less than in June 2019, bringing the average rent to its 2017...

In addition to retail chains Gap and PetSmart, now the National Basketball League is being sued by its landlord for unpaid rent. A company named 535-545 Fee LLC is suing NBA Media Ventures for not paying its $625,000 monthly rent in April and May, when the basketball league’s retail outlet on New York City’s Fifth...

At least 722 U.S. companies declared bankruptcy in May, a 48-percent increase from a year earlier. Federal aid, including the Economic Injury Disaster Loan and Paycheck Protection Programs, have helped some companies endure a little longer but do not offer a lasting rescue. “As this relief runs its course, mounting financial challenges may result in...

The U.S. path to economic recovery is “extraordinarily uncertain,” the U.S. Federal Reserve told Congress in its semiannual report released on 15 June. “Some small businesses and highly leveraged firms might have to shut down permanently or declare bankruptcy, which could have longer-lasting repercussions on productive capacity,” the report said. “In addition, there is uncertainty...

U.S. Federal Reserve officials predicted that unemployment will hover around 9 or 10 percent during the last three months of the year. The forecast came after the central bank’s policy meeting last week, at which the bank’s governors left key interest rates unchanged. “We are strongly committed to using our tools to do whatever we...

While the U.S. government and the Federal Reserve pump trillions into corporate welfare programs and stock markets, U.S. Labor Secretary Eugene Scalia (who’s papa Anthony was Associate Justice of the Supreme Court Judge) wants to end the $600-a-week federal “COVID” unemployment benefit enacted by Congress that helps keep households solvent as millions of workers lost...