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Thread: Business news 2020

  1. #101
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    The first California Pizza Kitchen opened in 1985 in Beverly Hills. The chain now operates more than 250 restaurants in the United States, Mexico, Hong Kong, Japan, India, Sinagpore, South Korea, the Philippines and United Arab Emirates.

    California Pizza Kitchen files for bankruptcy

    https://www.cnn.com/2020/07/30/busin...tcy/index.html

  2. #102
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    Amazon earned $5.2 billion in the second quarter of 2020. Amazon shares closed today at 3,051.88, a gain of 18.35 (+0.60%), and rose after hours to 3,215.00, a gain of 163.12 (5.34%). Jeff Bezos founded Amazon in 1994 in Seattle. Today, Forbes estimates his net worth as $181 billion.

    Amazon posts biggest profit ever at height of pandemic in US
    Amazon.com today posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic.

    https://www.reuters.com/article/us-a...-idUSKCN24V3HL

  3. #103
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    In 1826, Samuel Lord opened a ladies' clothing store in Manhattan. In 1834, his wife's cousin George Taylor became a partner. Lord & Taylor now has 38 stores and is the nation's oldest department store chain. It's also the latest chain to file for Chapter 11 bankruptcy protection.

    Lord & Taylor files for bankruptcy protection

    https://www.cnn.com/2020/08/02/busin...tcy/index.html

  4. #104
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    Next!

    Virgin Atlantic files for bankruptcy in the US

    https://www.cnn.com/2020/08/04/busin...tcy/index.html

    Men's Wearhouse, Jos. A. Banks parent Tailored Brands files for bankruptcy

    https://www.marketwatch.com/story/me...ort-2020-08-02

  5. #105
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    In 2018-19, Donald Trump imposed billions of dollars of tariffs on imported steel, aluminum, solar panels, washing machines and other goods. He insisted the tariffs would benefit the United States. They didn't. Americans wound up paying for them – and Canada, China, India and other countries retaliated by imposing tariffs on American-made goods. Yesterday, Trump announced a new 10% tariff on aluminum from Canada. Once again, Americans will wind up paying – and once again Canada is retaliating.

    Canada to retaliate dollar for dollar after US announces 10% tariff on aluminum
    Canada to impose $3.6 billion in tariffs as Deputy PM Chrystia Freeland says, 'Any American who buys a can of beer will suffer'

    https://www.theguardian.com/world/20...ariff-aluminum

  6. #106
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    Please don't think these are price hikes. Oh, no no no. These are "surcharges." They're not the same as a price hike. Oh, wait.......yes, they are.

    FedEx, UPS and the Post Office are all tacking on new fees ahead of an especially busy holiday season

    https://www.businessinsider.com/fede...-season-2020-8

  7. #107
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    The nation's oldest department store chain is now the latest chain to go out of business.

    Lord & Taylor is closing all of its stores after 194 years in business

    https://www.cnn.com/2020/08/27/busin...tcy/index.html

  8. #108
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    Coca-Cola's sales fell 28% in the last quarter.

    Coke will offer buyouts to 4,000 workers in the US and Canada

    https://www.cnn.com/2020/08/28/busin...ing/index.html

  9. #109
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    MGM Resorts International owns seven hotel-casinos on the Las Vegas Strip plus resorts in Detroit, Maryland, Massachusetts, Mississippi, New York and New Jersey. Amid the COVID-19 pandemic, people are not willing to gamble with their health – and they're also not gambling with their money. MGM is laying off more than 25% of its workforce.

    MGM Resorts to lay off 18,000 amid slow comeback for casinos

    https://www.latimes.com/business/sto...00-coronavirus

  10. #110
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    Who are Walmart and Amazon fooling? If you have to pay an annual fee to get free shipping, the shipping isn't really free. Doy!

    Walmart unveils $98-a-year subscription service
    CNN, Sep 1 2020 10:47 AM ET

    Walmart today unveiled a subscription service that will go toe-to-toe with Amazon Prime. The $98-a-year Walmart+ membership plan includes free shipping on items $35 and over, including same-day deliveries on certain items from stores, such as groceries. Members will also get 5-cent-per-gallon discounts on gasoline and the ability to scan items with the Walmart app while they shop in physical stores (and pay without waiting in a checkout line). Although Walmart+ undercuts Amazon Prime by $21 a year, it lacks many of its rival's benefits. For example, Prime requires no minimum purchase to qualify for free shipping and it includes a number of other perks, such as free streaming of music, TV shows and movies and unlimited photo storage. Walmart said it will add more features to its membership plan over time.

    https://www.cnn.com/2020/09/01/busin...lus/index.html

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