Federal Reserve fears for small businesses amid coronavirus

Federal Reserve fears for small businesses amid coronavirus

A large number of small US businesses could fail during the coronavirus recession, the Federal Reserve said on Friday, slowing recovery and creating lasting damage to the world’s largest economy. “The nature of the economic recovery that follows the COVID-19 crisis will depend in part on the survival of small businesses,” the Fed said in … Read more

Small businesses don’t qualify for COVID-19 claims: insurers

Small businesses don’t qualify for COVID-19 claims: insurers

US property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover. The industry has warned it could cost them $255 billion to $431 billion a month if they are required, as some states are proposing, to compensate firms … Read more

Tencent reveals 5 percent stake in Warner Music

Tencent reveals 5 percent stake in Warner Music

China’s Tencent Music Entertainment Group on Friday reported a 5.2 percent passive stake in Warner Music Group Corp., about a week after the world’s third-largest recording label’s debut on the Nasdaq. Tencent Music is controlled by Chinese tech giant Tencent Holdings Ltd. The listing by Warner, home to artists including Cardi B, Ed Sheeran and … Read more

Alaska Airlines adds passenger health screening to check-in

Alaska Airlines adds passenger health screening to check-in

Alaska Airlines will be adding a passenger health questionnaire as part of its check-in process. The assessment is part of the airline’s “Next-Level Care” initiative and will ask travelers to confirm they have not exhibited COVID symptoms in the past 72 hours and have not traveled with someone who is symptomatic. The flyer must also … Read more

Starbucks reverses ban on staff wearing Black Lives Matter gear

Starbucks reverses ban on staff wearing Black Lives Matter gear

Starbucks on Friday said employees can wear Black Lives Matter-related clothing at work, reversing a dress code that sparked online outrage. The Seattle-based coffee chain told employees they’re free to sport BLM apparel despite telling them last week that it would violate company policy. Starbucks is also making its own Black Lives Matter shirts to … Read more

Steve Bannon group pushes for US to block Chinese companies

Steve Bannon group pushes for US to block Chinese companies

An anti-China advocacy group that includes former White House adviser Steve Bannon is calling on the Trump administration to exclude Chinese companies from US financial markets, as the White House studies new ways to crack down on China. In a letter dated Thursday, The Committee on the Present Danger: China (CPDC) urged Treasury Secretary Steven … Read more

Method Man launches socially conscious cannabis brand TICAL

Method Man launches socially conscious cannabis brand TICAL

Rapper and actor Method Man has launched a cannabis brand that aims to spark conversations about racial injustice. The Wu-Tang Clan veteran has dubbed his line of pot TICAL, an acronym for “Taking Into Consideration All Lives” that’s also the title of his 1994 debut solo album. Method Man, whose legal name is Clifford Smith, … Read more

Facebook’s $400 million Giphy acquisition facing UK scrutiny

Facebook’s $400 million Giphy acquisition facing UK scrutiny

Facebook’s recent acquisition of Giphy is facing scrutiny across the pond. The social networking giant last month announced that it was buying the popular GIF-slinger in a deal worth $400 million with the intention of more closely integrating it with its own family of apps, setting off alarm bells for Britain’s competition watchdog. Though there … Read more

Bankrupt Hertz shares soar amid plans for $1B stock sale

Bankrupt Hertz shares soar amid plans for $1B stock sale

Hertz shares went into overdrive Friday after the bankrupt car-rental company announced plans to sell up to $1 billion in stock. The Florida-based firm’s stock price surged as much as 65 percent to $3.40 in early trading as it sought court approval to sell more than 246 million shares as an alternative to typical bankruptcy … Read more