Charitable giving increased in 2019, boosted by corporate donations
Giving by businesses increased by 11.4% from 2018 to 2019, once adjusted for inflation. Giving by foundations reached a record high of $75.7 billion.
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Simon Property, Brookfield, Authentic Brands in talks to buy J.C. Penney
Authentic and Simon Property Group also are in discussions with Brooks Brothers Inc. on a joint bid that would be part of a potential bankruptcy filing by that clothing retailer.
Hospitals desperate to boost non-COVID patient counts
Much of routine health care came to a halt in March as hospitals cleared space for an expected wave of COVID-19 patients and authorities ordered a halt to surgeries and other procedures that could be postponed.
Hotels betting on more staycations to survive pandemic
With business and air travel barely breathing, hotel companies are betting on the leisure traveler as a short-term strategy for survival.
United Airlines to require that passengers pass health checklist
As states and localities reopen for business, carriers are developing procedures to ensure that flying is safe.
Apple plans to announce move to its own Mac chips
This will be the first time in the 36-year history of the Mac that Apple-designed processors will power these machines. It has changed chips only two other times.
Businesses hurt first by virus, then looting, now sweating insurance
The civil unrest, vandalism and looting comes as business owners continue to cope with the economic impact of the COVID-19 outbreak, which also required them to analyze the fine print of their insurance policies.
U.S. jobless rate unexpectedly fell in May as hiring rebounded
America’s labor market unexpectedly rebounded in May, signaling the economy is picking up faster than thought from the depths of the damage from the coronavirus pandemic.
Theater chain AMC casts doubt on its ability to survive
AMC, the biggest movie theater chain in the U.S. and Europe, is seeking to tame its debt load by asking subordinated bondholders to accept cuts of about 50% from full face value on existing debt.
Indiana’s neighbor becomes first to tap Federal Reserve for lifeline loan
Illinois is planning to borrow $1.2 billion from the central bank for one-year to cope with revenue losses brought on by the economic shutdowns caused by the pandemic and the delay of its annual tax-filing deadline.
Salesforce cuts revenue, profit forecasts as cloud-app demand weakens
The company leads the market for sales-tracking software, but growth rates have slowed over time.
Victoria’s Secret to close 23% of its North American stores
Victoria’s Secret said it would close 251 stores in North America by the end of this year after parent L Brands Inc. suffered a fiscal first-quarter loss of $296.9 million.
COVID-19 patients testing positive after recovery aren’t infectious, study says
The research might aid in the debate over antibody tests, which look for markers in the blood that indicate exposure to the novel coronavirus.
The car is staging a comeback, spurring oil’s recovery
James Li, a public relations account director, would rather spend an hour sitting in Beijing traffic than risk 30 minutes exposed to crowds on a train. “Traffic is as bad as it could be” but the subway is still too dicey, he said. In Frankfurt, real estate assistant Anna Pawliczek is driving to work for […]
Lockdown disrupts the part of finance that hasn’t gone digital
Consumers have flooded social media with tales and images of lengthy lines and boisterous crowds seeking to pick up funds sent by friends and family abroad.
Locked-down drinkers lose their thirst for Budweiser, Stella
Revenue from Budweiser, Stella Artois and Corona dropped 11% in the first quarter, about twice the rate of decline for the company’s overall portfolio of more than 500 labels.
Fashion retailer J. Crew files for bankruptcy protection
Even before COVID-19 spread, the company was struggling because shoppers were defecting to online merchants and consumer tastes were changing.
Rich grabbing historic chance to pass on wealth tax-free
Plunging interest rates and volatile equity markets are creating a once-in-a-lifetime chance that’s keeping wealth advisers busy even as they work from home.
U.S. stocks rally on hopes for coronavirus drug
The Nasdaq composite index rose to within 1% of erasing losses for the year, led by Alphabet after it reported an ad-sales slowdown that wasn’t as bad as expected.
Pandemic hobbles drugmakers in recruiting for new studies
The Covid-19 pandemic is hampering research across the pharmaceutical industry, including at Indianapolis-based Eli Lilly and Co.