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Top luxury brands from Chanel to Louis Vuitton have increased prices of some of their most coveted products as they seek to make up for sales lost during weeks of coronavirus lockdowns. High-end houses have all reported brisk business in South Korea and the key Chinese market, where shops began to reopen in March, partly …
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US stocks rebounded from an early selloff Thursday as investors assessed how long it will take for the economy to recover from the coronavirus. The Dow Jones industrial average dropped as much as 458.35 points, or 1.9 percent, to 22,789.62, following its 500-point tumble on Wednesday. But rallying financial stocks helped the blue-chip index claw …
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A secretive hedge fund that has become the biggest owner of New York City taxi medallion loans is showing signs that it may come to the table for an emergency deal to save the city’s cash-strapped cabbies, city officials say. Marblegate Asset Management — a Greenwich, Conn.-based fund that owns roughly 4,300 taxi medallions and …
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McDonald’s has asked its US franchisees to make a series of changes in restaurants before reopening to diners in an effort to avoid the spread of the new coronavirus, the Wall Street Journal reported on Thursday. The world’s largest fast-food chain’s new reopening guidelines push restaurant owners to encourage social distancing among diners and more …
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Tyson Foods, one of the largest meat-processing companies in the world, announced this week that the company will be cutting prices on select beef products amid the ongoing coronavirus pandemic. Their announcement comes as grocery prices across the United States continue to soar, increasing by 2.6 percent from March to April. Tyson Foods said the …
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Around the world, nations are starting to emulate’s Sweden’s COVID-19 strategy. Here’s why. Sweden’s unique approach to the COVID-19 pandemic has been drawing a great deal of scrutiny for weeks, including both admiration and criticism. The Swedes, unlike most other nations, have eschewed the hardline approach that has led to mass economic shutdowns and skyrocketing …
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Civil disobedience may be key to recovering our liberty and prosperity in a post-COVID world. Elon Musk restarted production at Tesla’s car plant in Fremont, California, in defiance of county officials who ordered the plant to stay closed. He announced the move publicly by tweeting yesterday: Tesla is restarting production today against Alameda County rules. …
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The coronavirus crisis has President Trump feeling queasy about his trade deal with China. Trump said the landmark agreement “doesn’t feel the same” now that the pandemic has upended the global economy and reignited tensions between Washington and the Chinese Communist Party. “The big thing is they should have never let this happen,” the president …
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New York City health commissioner Oxiris Barbot dismissed a request during the onset of the coronavirus pandemic to provide the police force with a large stockpile of masks, the New York Post reported on Wednesday. In a phone conversation in late March, NYPD chief of department Terence Monahan asked Barbot for a supply of 500,000 …
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Senator Cory Gardner (R., Colo.) has joined the effort by Senator Josh Hawley (R., Mo.) to pass legislation that would see the federal government essentially pay the salaries of workers laid off during the coronavirus pandemic. Hawley’s “Rehire America” plan would pay up to 80 percent of wages for employees that have been laid off. …
Top luxury brands from Chanel to Louis Vuitton have increased prices of some of their most coveted products as they seek to make up for sales lost during weeks of coronavirus lockdowns. High-end houses have all reported brisk business in South Korea and the key Chinese market, where shops began to reopen in March, partly …
