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 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 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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September 17, 2020

According to data collected and analyzed by Yelp, nearly 163,700 businesses have closed since the start of the pandemic in March. This marks an increase of 23 percent from July when Yelp last released statistics about closures. To make matters worse, about 98,000 of those businesses will remain closed permanently. 

More than 32,000 of those shuttered businesses are restaurants, 61 percent of which have closed for good. Yelp claims that restaurants like pizzerias, delis, food trucks, and bakeries Continue reading

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September 10, 2020

With Labor Day weekend come and gone, airlines have entered the period of the year where business travelers usually make up the bulk of their flights rather than tourists. But as the pandemic continues to disrupt life throughout the U.S., almost nothing is proceeding like normal in the air travel industry. All told, the nation’s carriers are losing $6 billion per month and have laid off more than one-fifth of workers as the industry desperately looks for ways to cut Continue reading

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August 20, 2020

As companies across all industries look for ways to reduce contact between employees during the pandemic, many are turning to automated labor as a way both to stay safe and trim costs. This video looks at how advanced robotic technology could change workplaces in the long term while also examining the potential limitations of automation. 

Questions:

  1. Why are many companies investing in automated labor during the pandemic?
  2. What are the advantages and disadvantages of automation?
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August 18, 2020

The ongoing coronavirus pandemic has forced countless companies around the world to come up with new ways to sell products or else risk going out of business. For instance, many bars and restaurants have made the switch to carry-out service and installed take-out windows to easily access waiting customers. For some lucky Italian entrepreneurs, though, their businesses come with built-in to-go kiosks constructed more than 500 years ago.

Known as “buchette del vino,” or “little wine holes” in English, these Continue reading

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