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Stocks Fall Amid Concerns Over Recovery Stocks Fall Amid Concerns Over Recovery
(8 days later)
Stocks fell on Tuesday as reports from China, South Korea and the United States offered sobering reminders to investors of how long and difficult the coronavirus recovery is likely to be.Stocks fell on Tuesday as reports from China, South Korea and the United States offered sobering reminders to investors of how long and difficult the coronavirus recovery is likely to be.
The S&P 500 dropped about 2 percent, a decline that picked up steam as the day progressed.The S&P 500 dropped about 2 percent, a decline that picked up steam as the day progressed.
Investors had plenty of reasons for concern. Dr. Anthony S. Fauci, a central figure in the U.S. government’s coronavirus response, warned lawmakers on Tuesday that “needless suffering and death” would result if the country opened up too quickly. In China, the city of Wuhan, which seemed to have tamed its outbreak, has reported six new infections in recent days, while cases have also risen in the northern part of the country.Investors had plenty of reasons for concern. Dr. Anthony S. Fauci, a central figure in the U.S. government’s coronavirus response, warned lawmakers on Tuesday that “needless suffering and death” would result if the country opened up too quickly. In China, the city of Wuhan, which seemed to have tamed its outbreak, has reported six new infections in recent days, while cases have also risen in the northern part of the country.
But the S&P 500 made a sharp move lower in the final hour of trading after Senator Lindsey Graham, Republican of South Carolina, proposed legislation that would authorize sanctions on China unless it provided a full accounting of the events leading up to the outbreak of the coronavirus.But the S&P 500 made a sharp move lower in the final hour of trading after Senator Lindsey Graham, Republican of South Carolina, proposed legislation that would authorize sanctions on China unless it provided a full accounting of the events leading up to the outbreak of the coronavirus.
Markets have been able to shrug off a number of risks to the economy lately, but investors, who are already worried about an economic conflict between the world’s two largest economies, have been spooked lately by rising tension between the United States and China over the coronavirus outbreak.Markets have been able to shrug off a number of risks to the economy lately, but investors, who are already worried about an economic conflict between the world’s two largest economies, have been spooked lately by rising tension between the United States and China over the coronavirus outbreak.
Yields on government bonds also fell on Tuesday, reflecting a lowering of expectations for the economy by investors.Yields on government bonds also fell on Tuesday, reflecting a lowering of expectations for the economy by investors.
When Patagonia announced on March 13 that it was temporarily closing its 39 stores and e-commerce business in North America because of the coronavirus pandemic, it was one of the first major retailers to take such a drastic step.When Patagonia announced on March 13 that it was temporarily closing its 39 stores and e-commerce business in North America because of the coronavirus pandemic, it was one of the first major retailers to take such a drastic step.
Now, after losing half of its sales in North America and surveying a transformed landscape, the retailer is being very cautious in deciding how to open up again.Now, after losing half of its sales in North America and surveying a transformed landscape, the retailer is being very cautious in deciding how to open up again.
Retailers like Macy’s and Gap, which owns Banana Republic and Old Navy, have begun reopening hundreds of stores as they scramble to recoup lost sales and as states around the country begin to try to return to some semblance of normalcy.Retailers like Macy’s and Gap, which owns Banana Republic and Old Navy, have begun reopening hundreds of stores as they scramble to recoup lost sales and as states around the country begin to try to return to some semblance of normalcy.
But Patagonia does not anticipate opening any locations for in-store shopping until June at the earliest and it’s prepared to wait until the fall or even early winter. Even then, it may decide to limit operations to curbside pickup, which it plans to begin offering at 10 stores on May 20.But Patagonia does not anticipate opening any locations for in-store shopping until June at the earliest and it’s prepared to wait until the fall or even early winter. Even then, it may decide to limit operations to curbside pickup, which it plans to begin offering at 10 stores on May 20.
“We’re going to be cautious about the way we open up — we’re not going to necessarily follow what the state decrees are,” Rose Marcario, the chief executive, said in an interview. “There are some areas that aren’t as hard hit, but I don’t think you can assume those places won’t see a surge in cases if people stop social-distancing.”“We’re going to be cautious about the way we open up — we’re not going to necessarily follow what the state decrees are,” Rose Marcario, the chief executive, said in an interview. “There are some areas that aren’t as hard hit, but I don’t think you can assume those places won’t see a surge in cases if people stop social-distancing.”
Tesla’s California car factory was shipping out new cars on Tuesday despite a county order prohibiting it from restarting production and even as local officials continued to try to negotiate with the company.Tesla’s California car factory was shipping out new cars on Tuesday despite a county order prohibiting it from restarting production and even as local officials continued to try to negotiate with the company.
The company’s chief executive, Elon Musk, said on Monday that the factory would restart in violation of an order from Alameda County, and dared officials to arrest him. President Trump threw his weight behind the billionaire entrepreneur on Tuesday, saying California should allow Tesla to restart “NOW.”The company’s chief executive, Elon Musk, said on Monday that the factory would restart in violation of an order from Alameda County, and dared officials to arrest him. President Trump threw his weight behind the billionaire entrepreneur on Tuesday, saying California should allow Tesla to restart “NOW.”
It was not clear how many cars Tesla is making. But on Tuesday, trucks were leaving the factory, which is the Bay Area city of Fremont, with new sedans and sport-utility vehicles. New cars were also parked in rows outside the factory. The parking lot for employees was also filled.It was not clear how many cars Tesla is making. But on Tuesday, trucks were leaving the factory, which is the Bay Area city of Fremont, with new sedans and sport-utility vehicles. New cars were also parked in rows outside the factory. The parking lot for employees was also filled.
Tesla’s head of human resources for North America, Valerie Workman, sent an email to employees on Monday saying that their furloughs had ended on Sunday. She told employees they would be contacted within 24 hours about when to return to work.Tesla’s head of human resources for North America, Valerie Workman, sent an email to employees on Monday saying that their furloughs had ended on Sunday. She told employees they would be contacted within 24 hours about when to return to work.
Tesla did not respond to a request for comment.Tesla did not respond to a request for comment.
The county’s director for health care services, Colleen Chawla, sent a letter to Tesla late Monday saying that the company was violating its order. “We hope that Tesla — like other businesses who have been notified of noncompliance — comes into compliance with the order without the need for additional enforcement measures,” Ms. Chawla said.The county’s director for health care services, Colleen Chawla, sent a letter to Tesla late Monday saying that the company was violating its order. “We hope that Tesla — like other businesses who have been notified of noncompliance — comes into compliance with the order without the need for additional enforcement measures,” Ms. Chawla said.
On Tuesday, the county said that it had received Tesla’s plan for reopening the plant and was reviewing it. The plant is Tesla’s main source of revenue and has been closed for more than a month. County officials have said they were working with Tesla on an agreement to reopen the plant on May 18. But Tesla sued the county on Saturday in United States District Court in San Francisco, arguing that the county’s order was unconstitutional and contradicted an order by Gov. Gavin Newsom that permits manufacturing statewide.On Tuesday, the county said that it had received Tesla’s plan for reopening the plant and was reviewing it. The plant is Tesla’s main source of revenue and has been closed for more than a month. County officials have said they were working with Tesla on an agreement to reopen the plant on May 18. But Tesla sued the county on Saturday in United States District Court in San Francisco, arguing that the county’s order was unconstitutional and contradicted an order by Gov. Gavin Newsom that permits manufacturing statewide.
The state has authorized a resumption of manufacturing, Mr. Newsom said Monday, but he added that “we recognize localism” and “if a county doesn’t want to go as far,” local orders would prevail.The state has authorized a resumption of manufacturing, Mr. Newsom said Monday, but he added that “we recognize localism” and “if a county doesn’t want to go as far,” local orders would prevail.
In her email, Ms. Workman said employees who were uncomfortable returning to work could stay home on unpaid leave.In her email, Ms. Workman said employees who were uncomfortable returning to work could stay home on unpaid leave.
Shortages of safety gear and staff. Workers who may inadvertently be carriers. A disease that preys on older people with underlying health conditions. There are many reasons the coronavirus has hit nursing homes so hard.Shortages of safety gear and staff. Workers who may inadvertently be carriers. A disease that preys on older people with underlying health conditions. There are many reasons the coronavirus has hit nursing homes so hard.
Add the design of the buildings to the list.Add the design of the buildings to the list.
With shared resident rooms off long corridors and vast dining rooms where everyone mingles, nursing homes may have been laid out to be efficient and cost effective. But these very features have also allowed the virus to spread from person to person in what Gov. Andrew M. Cuomo of New York called “a feeding frenzy.”With shared resident rooms off long corridors and vast dining rooms where everyone mingles, nursing homes may have been laid out to be efficient and cost effective. But these very features have also allowed the virus to spread from person to person in what Gov. Andrew M. Cuomo of New York called “a feeding frenzy.”
New York State has become a pandemic hot spot. “Why are we seeing such a high rate in nursing homes?” asked Richard J. Mollot, executive director of the Long Term Care Community Coalition, an advocacy group for residents. “Maybe it’s because some nursing homes are so big.”New York State has become a pandemic hot spot. “Why are we seeing such a high rate in nursing homes?” asked Richard J. Mollot, executive director of the Long Term Care Community Coalition, an advocacy group for residents. “Maybe it’s because some nursing homes are so big.”
Before the pandemic, a movement under the banner of “culture change” was challenging the institutional model, calling for dividing up large nursing home populations into small, self-sufficient units with kitchens, private rooms and a dedicated staff. Now, anecdotal reports suggest that private rooms may be having more success at keeping the coronavirus at bay.Before the pandemic, a movement under the banner of “culture change” was challenging the institutional model, calling for dividing up large nursing home populations into small, self-sufficient units with kitchens, private rooms and a dedicated staff. Now, anecdotal reports suggest that private rooms may be having more success at keeping the coronavirus at bay.
Elizabeth Wardman was driving to San Francisco’s wholesale flower market last week when she heard on the radio that California was going to allow florists to reopen for Mother’s Day as part of an easing of coronavirus lockdown rules.Elizabeth Wardman was driving to San Francisco’s wholesale flower market last week when she heard on the radio that California was going to allow florists to reopen for Mother’s Day as part of an easing of coronavirus lockdown rules.
By the time she got to the market at 6 a.m., the parking lot was teeming with florists stocking up for one of the busiest weekends of the year. Her flower shop, Wisteria Rockridge, had already received online and phone orders for the weekend. Ms. Wardman scooped up as many flowers as she could in a fit of panic buying.By the time she got to the market at 6 a.m., the parking lot was teeming with florists stocking up for one of the busiest weekends of the year. Her flower shop, Wisteria Rockridge, had already received online and phone orders for the weekend. Ms. Wardman scooped up as many flowers as she could in a fit of panic buying.
A flood of delivery orders came in to the shop, three times the usual amount for Mother’s Day. But Wisteria had to stop accepting orders on Wednesday. The store had furloughed its employees and didn’t have enough people to do the work. For the rest of the week, the phone rang unanswered.A flood of delivery orders came in to the shop, three times the usual amount for Mother’s Day. But Wisteria had to stop accepting orders on Wednesday. The store had furloughed its employees and didn’t have enough people to do the work. For the rest of the week, the phone rang unanswered.
“It’s heartbreaking,” Ms. Wardman said. “Every time it rings, you’re missing somebody. You’re letting business go.” Updated June 24, 2020
Updated June 16, 2020 Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles.
A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.
The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.
The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested. “It’s heartbreaking,” Ms. Wardman said. “Every time it rings, you’re missing somebody. You’re letting business go.”
Shutting down a business for a public health emergency seven weeks ago, it turned out, was a fairly straightforward thing. Reopening? That has turned out to be a lot trickier. Like thousands of other small-business owners, Ms. Wardman has had to reinvent her shop on the fly, hoping to reach enough customers to keep at least a tiny portion of her operation alive.Shutting down a business for a public health emergency seven weeks ago, it turned out, was a fairly straightforward thing. Reopening? That has turned out to be a lot trickier. Like thousands of other small-business owners, Ms. Wardman has had to reinvent her shop on the fly, hoping to reach enough customers to keep at least a tiny portion of her operation alive.
Uber is in talks to acquire Grubhub, said three people with knowledge of the discussions, aiming to create one giant player in food delivery as more people turn toward those services in the coronavirus pandemic.Uber is in talks to acquire Grubhub, said three people with knowledge of the discussions, aiming to create one giant player in food delivery as more people turn toward those services in the coronavirus pandemic.
Uber recently approached Grubhub with a potential all-stock takeover bid, said two of the people, who spoke on the condition of anonymity because the details were confidential. In response, Grubhub asked for two Uber shares for each of its shares, two of the people said. That would value Grubhub’s stock at more than $60 a share, pegging a deal at around $6.1 billion, or roughly a 25 percent premium to Grubhub’s closing price on Monday.Uber recently approached Grubhub with a potential all-stock takeover bid, said two of the people, who spoke on the condition of anonymity because the details were confidential. In response, Grubhub asked for two Uber shares for each of its shares, two of the people said. That would value Grubhub’s stock at more than $60 a share, pegging a deal at around $6.1 billion, or roughly a 25 percent premium to Grubhub’s closing price on Monday.
The talks are still in process and could fall apart, the people said.The talks are still in process and could fall apart, the people said.
The discussions are a sign of how thoroughly the coronavirus has upended everything from the way that people are eating to how businesses must shift to find new growth. Food delivery has been offered for years, but use of the services has surged in the pandemic as consumers stay home and many restaurants remain shut down.The discussions are a sign of how thoroughly the coronavirus has upended everything from the way that people are eating to how businesses must shift to find new growth. Food delivery has been offered for years, but use of the services has surged in the pandemic as consumers stay home and many restaurants remain shut down.
At the same time, companies like Uber are trying to limit damage to their business from the coronavirus — its main ride-hailing business has cratered as people have stopped traveling — and double down on services that are growing.At the same time, companies like Uber are trying to limit damage to their business from the coronavirus — its main ride-hailing business has cratered as people have stopped traveling — and double down on services that are growing.
Britain will extend until October its program to ensure that private-sector workers keep getting paid if the pandemic prevents them from working, the government said on Tuesday in a clear indication that it expects it to take several months to fully reopen the economy.Britain will extend until October its program to ensure that private-sector workers keep getting paid if the pandemic prevents them from working, the government said on Tuesday in a clear indication that it expects it to take several months to fully reopen the economy.
As an incentive for employers to keep people on their payrolls, the government is subsidizing the pay of millions of workers who would otherwise be furloughed, along with self-employed people who cannot work. The program covers 80 percent of each person’s wages, up to 2,500 pounds a month — almost $3,100.As an incentive for employers to keep people on their payrolls, the government is subsidizing the pay of millions of workers who would otherwise be furloughed, along with self-employed people who cannot work. The program covers 80 percent of each person’s wages, up to 2,500 pounds a month — almost $3,100.
The program, begun in March, was originally put in place until June, and is costing billions of pounds per month. On Tuesday, the chancellor of the Exchequer, Rishi Sunak, announced that the government would keep paying 80 percent of wages through the end of July.The program, begun in March, was originally put in place until June, and is costing billions of pounds per month. On Tuesday, the chancellor of the Exchequer, Rishi Sunak, announced that the government would keep paying 80 percent of wages through the end of July.
Business groups and labor unions largely welcomed the extension.Business groups and labor unions largely welcomed the extension.
Mr. Sunak’s statement came a day after the government urged those who cannot work from home to go back to factories and other workplaces if they can. But some parts of the economy not expected to restart until mid-sumer or later.Mr. Sunak’s statement came a day after the government urged those who cannot work from home to go back to factories and other workplaces if they can. But some parts of the economy not expected to restart until mid-sumer or later.
Jack Dorsey, the chief executive of Twitter, told employees on Tuesday that they would not be expected to return to the company’s offices and could work from home forever if they wanted.Jack Dorsey, the chief executive of Twitter, told employees on Tuesday that they would not be expected to return to the company’s offices and could work from home forever if they wanted.
Twitter sent its employees home in early March to help stop the spread of the coronavirus, but Mr. Dorsey had previously said he wanted Twitter’s work force to be more diversified around the world and that he welcomed remote work.Twitter sent its employees home in early March to help stop the spread of the coronavirus, but Mr. Dorsey had previously said he wanted Twitter’s work force to be more diversified around the world and that he welcomed remote work.
Twitter will reopen its offices no sooner than September, said Jennifer Christie, a vice president of human resources at Twitter.Twitter will reopen its offices no sooner than September, said Jennifer Christie, a vice president of human resources at Twitter.
“If our employees are in a role and situation that enables them to work from home and they want to continue to do so forever, we will make that happen. If not, our offices will be their warm and welcoming selves, with some additional precautions, when we feel it’s safe to return,” Ms. Christie wrote in a blog post.“If our employees are in a role and situation that enables them to work from home and they want to continue to do so forever, we will make that happen. If not, our offices will be their warm and welcoming selves, with some additional precautions, when we feel it’s safe to return,” Ms. Christie wrote in a blog post.
Walmart said on Tuesday that it would give another round of bonuses to its workers in the United States: $300 for full-time workers and $150 for part-time and temporary workers, for a total of more than $390 million. The retailer said it had committed more than $935 million in bonuses for its workers so far this year.Walmart said on Tuesday that it would give another round of bonuses to its workers in the United States: $300 for full-time workers and $150 for part-time and temporary workers, for a total of more than $390 million. The retailer said it had committed more than $935 million in bonuses for its workers so far this year.
The theatrical distribution company Solstice Studios said Tuesday that it would release the thriller “Unhinged,” which stars Russell Crowe, in theaters nationwide on July 1. That’s two weeks before the Warner Bros. release date for Christopher Nolan’s “Tenet” and three weeks before Disney’s planned release of “Mulan.”The theatrical distribution company Solstice Studios said Tuesday that it would release the thriller “Unhinged,” which stars Russell Crowe, in theaters nationwide on July 1. That’s two weeks before the Warner Bros. release date for Christopher Nolan’s “Tenet” and three weeks before Disney’s planned release of “Mulan.”
The Transportation Department warned airlines for a second time on Tuesday that they must refund passengers for canceled tickets after receiving about 20,000 consumer complaints in April, up from the 1,500 it receives in a typical month.The Transportation Department warned airlines for a second time on Tuesday that they must refund passengers for canceled tickets after receiving about 20,000 consumer complaints in April, up from the 1,500 it receives in a typical month.
Saudi Aramco, the world’s largest oil company, reported Tuesday that its net income fell by 25 percent in the first quarter of 2020 compared with a year earlier. Still, Aramco said it earned $16.7 billion — an amount that may allow it to retain the title of world’s most profitable company. Amin H. Nasser, the company’s president and chief executive, said in a statement that the coronavirus pandemic “impacted” the results, which he called “exceptionally strong” given the situation.Saudi Aramco, the world’s largest oil company, reported Tuesday that its net income fell by 25 percent in the first quarter of 2020 compared with a year earlier. Still, Aramco said it earned $16.7 billion — an amount that may allow it to retain the title of world’s most profitable company. Amin H. Nasser, the company’s president and chief executive, said in a statement that the coronavirus pandemic “impacted” the results, which he called “exceptionally strong” given the situation.
Ryanair, Europe’s largest low-cost carrier, said it would resume 40 percent of its flight network beginning July 1, and institute safety measures like requiring passengers to wear face masks and to request access to the bathroom to prevent lines in the aisles.Ryanair, Europe’s largest low-cost carrier, said it would resume 40 percent of its flight network beginning July 1, and institute safety measures like requiring passengers to wear face masks and to request access to the bathroom to prevent lines in the aisles.
Reporting was contributed by Jane Margolies, Sapna Maheshwari, Jack Ewing, Stephen Castle, Jeanna Smialek, Ben Dooley, Alan Rappeport, Kate Conger, Mike Isaac, Michael J. de la Merced, Noam Scheiber, Kai Schultz, Geneva Abdul, Stanley Reed, Niraj Chokshi, Alexandra Stevenson, Cao Li, Damien Cave, Matt Phillips, Gregory Schmidt, Carlos Tejada, Daniel Victor, Katie Robertson and Kevin Granville.Reporting was contributed by Jane Margolies, Sapna Maheshwari, Jack Ewing, Stephen Castle, Jeanna Smialek, Ben Dooley, Alan Rappeport, Kate Conger, Mike Isaac, Michael J. de la Merced, Noam Scheiber, Kai Schultz, Geneva Abdul, Stanley Reed, Niraj Chokshi, Alexandra Stevenson, Cao Li, Damien Cave, Matt Phillips, Gregory Schmidt, Carlos Tejada, Daniel Victor, Katie Robertson and Kevin Granville.