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…… MORE
Category Archives: CNN – Business
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…… MORE
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…… MORE
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…… MORE
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…… MORE
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…… MORE
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…… MORE
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…… MORE
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…… MORE
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…… MORE
