November 19, 2020

Sony’s PlayStation 5 launched earlier this month and is expected to be one of the blockbuster products of the holiday season. This video looks at the evolution of the console throughout the years and how it became a central focus of Sony’s business.

Questions:

  1. How did the PlayStation help Sony transition from a consumer electronics manufacturer into a gaming company?
  2. Why did Sony decide to focus closely on the gamer market for future generations of the PlayStation, and how did they accomplish this task?
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October 27, 2020

The stock market plunged in March as the coronavirus emerged in the U.S. but eventually recovered as some businesses reopened and consumers received economic relief. With cases once again on the rise, however, the combination of potential closings and a lack of another stimulus package caused the Dow to plummet by 650 points on Monday. “Financial markets are getting a reality check, as investors come to terms with the failure of Congress to agree to a pre-election stimulus package and Continue reading

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October 22, 2020

Last week, another 787,000 Americans filed for unemployment benefits. This represents a drop from the stretch of months where more than 1 million people filed for unemployment week after week, but it nevertheless reflects a deeply strained economy. “The ranks of people applying for extended unemployment are starting to make it look like a traditional recession,” said economist Diane Swonk. “This leaves scars in the labor force, is demoralizing, and increases health risks for workers…We’re not calling people back Continue reading

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October 20, 2020

Since its founding in 1998, Google has grown into one of the largest companies in history. Last year it earned more than $34 billion from search revenue, an enormous amount that analysts predict will grow to $42.5 billion by 2022. Google’s parent company Alphabet is valued at more than $1 trillion and holds $120 billion in cash reserves. The company’s name has even become synonymous with search as millions of people around the world “google” all sorts of information every Continue reading

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October 13, 2020

As brick-and-mortar retailers struggle to make ends meet during the pandemic, e-commerce outlets like Amazon are thriving as consumers purchase more products from home than ever before. Experts expect that this trend will continue into the holiday shopping season, which can drive as much as 30 percent of retailers’ overall sales. So while companies would normally be hiring extra cashiers to prepare for Christmas, this year they’re bringing in warehouse workers to handle the high volume of online orders.  Continue reading

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October 6, 2020

October is usually the month that Halloween store owners look forward to all year round. Adult customers often spend well over $100 on costumes and accessories as they prepare for parties or haunted pub crawls. But with many of these social events now canceled due to the pandemic, Halloween stores are struggling to make up this essential source of revenue. At Lorenzo Caltagirone’s Virginia costume shop, for instance, sales are down 80 percent. “I’ve never been this worried before,” said Continue reading

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October 1, 2020

Back in March, airlines received $25 billion in relief so that workers could stay on the payroll as the coronavirus pandemic caused a massive disruption in world travel. But with that money now spent, major carriers had been hoping for another round of economic stimulus from the federal government as demand for travel remains low. Legislators have been unable to come to an agreement so far, however, leading American Airlines and United Airlines to announce that more than 32,000 employees Continue reading

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September 29, 2020

According to the National Restaurant Association, during the pandemic more than 100,000 restaurants have closed either indefinitely or permanently and millions of jobs have been lost. Experts expect that the nation’s eateries will lose more than $240 million this year and warn that the worst could be yet to come. Along with takeout and curbside business, many restaurants have relied on outdoor dining to drive sales as many customers remain wary about eating inside. With winter on the horizon, however, Continue reading

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September 24, 2020

With audiences largely reluctant to return to the movies, it’s not just theater chains that are struggling to adapt to life during the pandemic. Farmers who supply theaters with popcorn have seen orders for their product almost disappear as retail suppliers have seen sales surge. While Orville Redenbacher, Jolly Time, and Pop Secret have benefited from consumers staying home, the Preferred Popcorn company in Nebraska has millions of tons of unsold kernels on hand.

Preferred Popcorn primarily supplies snack distributors Continue reading

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September 22, 2020

On August 27th, Warner Bros. began gradually releasing the movie Tenet in theaters that had been closed for months due to the pandemic. After more than two weeks on American screens, though, the $200 million film has only earned $29.5 million domestically. As a result, Hollywood studios may hold back on releasing major titles until audiences are ready to return. “You can’t do it. The economics won’t allow you to do it,” said one studio executive. “We can’t give [theaters] Continue reading

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