Business News

The future of the September issue was already uncertain. Then 2020 happened

In February, just weeks after starting as editor in chief of Marie Claire, Aya Kanai jet-setted to Europe for fashion week in Milan and in Paris. It was there that she started planning the magazine’s September issue, considering what trends to highlight in what is heralded as fashion magazines’ marquee product. Kanai did not know…

‘The benefits of London are gone.’ Why one young couple is moving to the country

For as long as there have been cities, their residents have agreed to an unwritten contract. They tolerate cramped living quarters, noise and pollution. In exchange, they get the vibrancy that rural towns often lack. The pandemic has broken that contract. And many city dwellers are ready to move. “All of the benefits of London…

Walmart will stay open later, joining other chains

Walmart will stay open later at most of its stores in the United States, joining other large chains that have started to stay open longer than they did during the early days of the pandemic. The retailer in recent weeks has extended some stores’ closing time from 8:30pm to 10pm. By Monday, more than than…

Without college football, many other sports will be on the chopping block

College football fans were devastated by the news this week that many of the nation’s top teams will not be playing this fall. The budgets of their schools’ athletic departments could also be decimated. College budgets face a potential $1.6 billion hit as two of the most powerful athletic conferences, the Big Ten and the…

College towns face a potentially devastating economic blow this fall: No football

Missing out on college football games is more than just a bummer for die-hard fans of the sport. For university towns and the local businesses that rely on college football to generate revenue, it’s yet another 2020 economic disaster on top of the Covid-19 pandemic. Earlier this week, the Big Ten and Pac 12 conferences…

DraftKings gets ready for a strange football season

Major league baseball is back, albeit with some coronavirus-induced game cancellations, and the NBA and NHL are starting playoffs in bubble cities as a preventive measure. That should be great news for DraftKings — but shares tumbled 5% Friday on downbeat earnings. Shares of DraftKings, a sports gambling company, fell after the company bigger-than-expected loss…

American shopping is back to pre-pandemic levels. That’s a big deal

Millions of Americans remain unemployed during the coronavirus pandemic and many are struggling to pay their bills. But despite devastation in other parts of the US economy, American consumerism has staged a rapid comeback. US retail sales rose 1.2% in July from the previous month, the Commerce Department reported Friday. Initially, Wall Street wasn’t impressed…

Bill and Melinda Gates-backed coronavirus vaccine maker soars in Wall Street debut

The race for a successful coronavirus vaccine is heating up in labs around the world — and on Wall Street. Germany’s CureVac, a biotech with the backing of the Bill & Melinda Gates Foundation, more than tripled in its first day of trading Friday. CureVac priced its initial public offering at $16 a share. The…

Former talk radio host who pushed conspiracy theories hired by US global media agency

A former talk radio host who regularly promoted conspiracy theories about former President Barack Obama and officials in his administration is now serving as an adviser at the US Agency for Global Media (USAGM), a source familiar told CNN. Frank Wuco‘s hiring is among the latest of the controversial moves undertaken at the agency during…

Reluctant shoppers could slow the coronavirus recovery

Retail sales data from the world’s two largest economies could set the tone on Wall Street on Friday. The first round, from China, suggest the coronavirus recovery could take longer than expected. Retail sales in China declined 1.1% in July compared to the previous year, surprising analysts who had expected a return to growth after…

Hong Kong media tycoon says ‘the fight has to go on’ after ‘symbolic’ arrest under new law

Hong Kong media tycoon Jimmy Lai has called his arrest a “symbolic exercise” by local authorities to demonstrate that the sweeping national security law imposed by Beijing last month has “teeth.” Lai was arrested Monday on suspicion of colluding with foreign forces to endanger national security, conspiracy to defraud and intention to incite succession. That…

UK deals ‘devastating blow’ to travel industry with French quarantine

Efforts to restart Europe’s mammoth travel and tourism sector have suffered another major setback, after the UK government added the world’s most visited country to its quarantine list. Travelers arriving from France will have to quarantine for 14 days starting on Saturday, according to the latest guidance from the UK Department of Transport, which was…

Outdoor Retailer REI to sell sprawling new and unused headquarters to shift to remote work

It’s the beginning of the end for office culture. Outdoor retailer REI is selling its newly completed — and currently unused — 8-acre corporate campus in Bellevue, Washington, instead shifting to a “less centralized approach to its headquarters presence in the Seattle area.” “The dramatic events of 2020 have challenged us to reexamine and rethink…

Tony Hawk’s Pro Skater renames the mute grab to honor deaf skater who created it

Pro skating legend Tony Hawk is formally changing the name of an iconic skateboarding move in order to honor the deaf skater who created it. The mute grab, which involves a rider using their front hand to grab the toe side of the skateboard between the rider’s feet as they turn backside, is being changed…

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