Category Archives: CNN – Business

$50 billion airline bailout won’t be enough to save US industry

$50 billion airline bailout won’t be enough to save US industry

The $50 billion airline bailout passed by the Senate will help keep the airlines alive, but it won’t solve the industry’s most severe crisis in its history. Only passengers can do that. “We have an airline industry right now that is flying empty planes,” said airline consultant Mike Boyd. “This isn’t going to save the…MORE

The EU can’t agree on how to help Italy and Spain pay for coronavirus relief

The EU can’t agree on how to help Italy and Spain pay for coronavirus relief

Deep divisions within the European Union are hampering efforts to tackle the economic fallout of the coronavirus pandemic. The European Union made two attempts this week at agreeing to a coordinated strategy to support member states most affected by the outbreak, such as Italy and Spain. Finance ministers from countries that use the euro currency…MORE

Net-a-Porter and Next are suspending online shopping to keep workers safe

Net-a-Porter and Next are suspending online shopping to keep workers safe

Hundreds of millions of people around the world have been told to stay home to combat the coronavirus pandemic, driving huge demand for online shopping and food deliveries. Yet many companies including Net-a-Porter and Next are struggling to keep their online operations afloat as the continued spread of the novel coronavirus makes it harder for…MORE

Automakers are racing to make ventilators. But it’s not that easy

Automakers are racing to make ventilators. But it’s not that easy

US automakers have come to the rescue when the nation has faced supply shortages during wartime in the past. Ford built heavy bomber airplanes and GM built amphibious assault craft, among other things. So it seems only natural that, in the rush to address the critical shortage of ventilators in the US due to the…MORE

Americans are panic buying food for their pets

Americans are panic buying food for their pets

Along with toilet paper, hand sanitizer and groceries, shoppers are stockpiling food and toys for their pets during the coronavirus crisis. Dog food sales spiked 54% and cat food sales increased 52% for the week ending last Saturday compared with the same period last year, according to Nielsen’s most recent data. Sales of pet supplies…MORE

The Dow is back in a bull market. Should it be?

The Dow is back in a bull market. Should it be?

Enthusiasm over record amounts of stimulus from governments and central banks has resulted in a three-day rally for US stocks, pushing the Dow Jones Industrial Average into a new bull market. You read that correctly: The Dow has rallied more than 20% from recent lows, technically ending the bear market it entered on March 11.…MORE

Coronavirus is crushing New York City’s bar scene and its workers

Coronavirus is crushing New York City’s bar scene and its workers

On a typical Saturday night at 2 am, thousands of people are dancing inside the Brooklyn nightclub Elsewhere — all while scores of bartenders, barbacks, bouncers, cleaners, lighting and sound designers are working to keep it running. But last Saturday night, and for the next unknown number of Saturday nights, Elsewhere was empty. The club’s…MORE

Quibi, the on-the-go streaming service, says it could benefit from people staying home

Quibi, the on-the-go streaming service, says it could benefit from people staying home

Quibi, a mobile-only, short-form video service that launches next month, has pitched itself as “on-the-go viewing, from seven in the morning to seven at night,” as CEO Meg Whitman described it a few months ago. However, many of its potential subscribers are no longer on-the-go, because they’re stuck at home during the coronavirus pandemic. Although…MORE