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The latest business news delivered in a convenient, AD-FREE, easy-to-read stream. Brought to you by News Plexus, a pioneer in sustainable news publishing.

The latest business news delivered in a convenient, AD-FREE, easy-to-read stream. Brought to you by News Plexus, a pioneer in sustainable news publishing.
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NewsPlexus Media July 12, 2020

'A slap in the face:' Goya faces boycott over Trump praise
The CEO of food company Goya is facing an uproar over his praise for President Donald Trump, with some Latino families purging their pantries of the products and scrambling to find alternatives to the beloved beans, seasoning and other products that have long been fixtures in their cooking. But the controversy is also drawing attention to the mixed political sentiments of Latinos in the U.S. Many of them oppose Trump because of his derogatory comments about Hispanics and harsh policies toward immigration.
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NewsPlexus Media July 9, 2020

United Airlines warns 36,000 workers they could be laid off
United Airlines is warning 36,000 employees — nearly half its U.S. staff — they could be furloughed in October, the clearest signal yet of how deeply the virus pandemic is hurting the airline industry. The outlook for a recovery in the airline industry has dimmed in just the past two weeks, as infection rates rise in much of the U.S. and some states impose new quarantine requirements on travelers.
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NewsPlexus Media July 2, 2020

California sues Cisco for bias based on Indian caste system
California regulators have sued Cisco Systems, saying an engineer faced discrimination at the company's Silicon Valley headquarters because he is a Dalit Indian. India’s caste system long placed Dalits at the bottom of a social hierarchy, once terming them “untouchables.” Inequities and violence against Dalits have persisted for decades after India banned caste discrimination. The engineer worked on a team at Cisco’s San Jose headquarters with Indians who all immigrated to the U.S. as adults, and all of whom were of high caste, according to the lawsuit filed Tuesday by the California Department of Fair Employment and Housing.
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NewsPlexus Media July 2, 2020

A pinch where it hurts: Can Facebook weather the ad boycott?
On Wednesday, more than 500 companies officially kicked off an advertising boycott intended to pressure Facebook into taking a stronger stand against hate speech. CEO Mark Zuckerberg has agreed to meet with its organizers early next week. But whether Zuckerberg agrees to further tighten the social network's carefully crafted rules probably boils down to a more fundamental question: Does Facebook need big brand advertisers more than the brands need Facebook?
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NewsPlexus Media July 2, 2020

Congress extends relief program for COVID-slammed businesses
The House on Wednesday easily passed a temporary extension of a subsidy program for small businesses slammed by the coronavirus, speeding the measure to President Donald Trump. Approval by voice vote without debate came after Democrats pushed the legislation through the GOP-controlled Senate late Tuesday as spikes in coronavirus cases in many states led to renewed shutdowns of bars and other businesses.
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NewsPlexus Media July 2, 2020

Judge deals setback to key Trump policy limiting asylum
A federal judge has knocked down a cornerstone border policy of the Trump administration that denies asylum to people who travel through other countries to reach the U.S.-Mexico border without first seeking protection in those countries. U.S. District Judge Timothy Kelly ruled that authorities violated federal rule-making procedures by not seeking public feedback before putting the policy into effect in July 2019.
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NewsPlexus Media July 2, 2020

Michigan governor closes indoor bars, allows to-go cocktails
Michigan Gov. Gretchen Whitmer said Wednesday that she was closing indoor seating in bars in parts of the state, including a college town where one brewpub has been linked to about 140 infections. Whitmer also signed a bill allowing bars and restaurants to sell to-go cocktails in an effort to help those businesses.
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NewsPlexus Media July 2, 2020

24 shot to death in attack on drug rehab center in Mexico
Gunmen burst into an unregistered drug rehabilitation center in central Mexico and opened fire Wednesday, killing 24 people and wounding seven, authorities said. Police in the north-central state of Guanajuato said the attack occurred in the city of Irapuato. Three of the seven wounded were reported in serious condition.
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NewsPlexus Media July 2, 2020

Closing bars to stop coronavirus spread is backed by science
Authorities are closing honky tonks, bars and other drinking establishments in some parts of the U.S. to stem the surge of COVID-19 infections — a move backed by sound science about risk factors that go beyond wearing or not wearing masks. In the words of one study, it comes down to the danger of “heavy breathing in close proximity."
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NewsPlexus Media July 1, 2020

Striking shipbuilders are losing health coverage in pandemic
The stakes are growing in a strike against Navy shipbuilder Bath Iron Works during a global pandemic as company-provided health insurance is running out for 4,300 shipbuilders who've left their jobs. Striking workers from Machinists Union Local S6 will be responsible for their own insurance effective Wednesday, just days after three workers who carpooled together tested positive for the coronavirus.
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NewsPlexus Media June 30, 2020

Diageo goes green with carbon neutral distillery in Kentucky
Spirits giant Diageo announced Monday that it's going green with its newest whiskey-making venture in the Bluegrass State. Its distillery being built at Lebanon, Kentucky, is expected to be carbon neutral — a first for the London-based company. The $130 million distillery of Bulleit bourbon is expected to be fully operational in 2021.
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NewsPlexus Media June 30, 2020

AMC pushes back movie theater reopening by 2 weeks
AMC Theaters, the nation’s largest chain, is pushing back its plans to begin reopening theaters by two weeks following the closure because of COVID-19. The company said Monday that it would open approximately 450 U.S. locations on July 30 and the remaining 150 the following week.
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NewsPlexus Media June 30, 2020

Billions of dollars in aid for small businesses go unclaimed
Billions of dollars offered by Congress as a lifeline to small businesses struggling to survive the pandemic are about to be left on the table when a key government program stops accepting applications for loans. Business owners and advocacy groups complain that the money in the Paycheck Protection Program was not fully put to work because the program created obstacles that stopped countless small businesses from applying. For those that did seek loans, the ever-changing application process proved to be an exercise in futility.
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NewsPlexus Media June 30, 2020

Fed's program for loaning to Main Street off to slow start
Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set up specifically for small and medium-sized businesses like his hasn't been much help. He can't find a bank that's participating in the program, and he isn't clear on a lot of the details about how it works. For example, he isn't sure how much he could borrow.
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NewsPlexus Media June 29, 2020

Starbucks latest to say it will pause social media ads
Starbucks is the latest company to say it will pause social media ads after a campaign led by civil rights organizations called for an ad boycott of Facebook, saying it doesn't do enough to stop racist and violent content. Starbucks said Sunday that its actions were not part of the “#StopHateforProfit” campaign, but that it is pausing its social ads while talking with civil rights organizations and its media partners about how to stop hate speech online.
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NewsPlexus Media June 29, 2020

Microsoft to permanently close all physical stores
Microsoft said Friday it is permanently closing nearly all of its physical stores around the world. Friday's announcement reflects what the company calls a "strategic change" for its retail business as sales increasingly shift online.
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NewsPlexus Media June 29, 2020

American Airlines will book flights to full capacity
American Airlines will start booking flights to full capacity next week, ending any effort to promote social distancing on its planes while the United States sets records for new reported cases of the coronavirus. American's move matches the policy of United Airlines but contrasts sharply with rivals that limit bookings to create space between passengers to minimize the risk of contagion.
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NewsPlexus Media June 29, 2020

Facebook to label all rule-breaking posts — even Trump's
Facebook said Friday that it will flag all "newsworthy" posts from politicians that break its rules, including those from President Donald Trump. Separately, Facebook's stock dropped more than 8%, erasing roughly $50 billion from its market valuation, after the European company behind brands such as Ben & Jerry's and Dove announced it would boycott Facebook ads through the end of the year over the amount of hate speech and divisive rhetoric on its platform. Later in the day, Coca-Cola also announced it joined the boycott for at least 30 days.
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NewsPlexus Media June 28, 2020

L'Oreal to remove words like 'whitening' from skin products
French cosmetics giant L'Oreal said Saturday that it will remove words like "whitening" from its skin care products, a move that comes amid global protests against racism sparked by the death of George Floyd in the United States.
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NewsPlexus Media June 28, 2020

Bar owners worry as virus surges in their workplaces
The din of conversation and music that normally fills The Cottonmouth Club in downtown Houston fell silent last Friday when the owners shut it down for a second time during the coronavirus pandemic — a week before the Texas governor ordered all bars to follow suit amid a surge in infections. Co-owner Michael Neff — questioning what he saw as a rush to reopen by the state and wondering if his industry was making things worse as some bars flouted rules on occupancy limits — said he felt he could no longer provide a safe environment for his staff or customers at the neighborhood bar with a rock 'n' roll vibe.
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NewsPlexus Media June 27, 2020

US job market's modest improvement may be stalling
The number of laid-off workers seeking U.S. unemployment aid barely fell last week, and the reopening of small businesses has leveled off — evidence that the job market's gains may have stalled just as a surge in coronavirus cases is endangering an economic recovery. The government also reported Thursday that the economy contracted at a 5% annual rate in the first three months of the year, a further sign of the damage being inflicted by the viral pandemic.
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NewsPlexus Media June 25, 2020

Virus pummels commercial real estate, could end long boom
Americans are likely to see more "for rent" signs in the coming months as many businesses devastated by the coronavirus pandemic abandon offices and storefronts and potentially end a long boom in the nation's commercial real estate market. Hotels, restaurants and stores that closed in March have seen only a partial return of customers, and many may fail. Commercial landlords have already reported an increase in missed rent payments. They expect vacancies to rise through the end of the year.
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NewsPlexus Media June 19, 2020

Cream of Wheat, Mrs. Butterworth confront race in packaging
Colgate, Cream of Wheat and Mrs. Butterworth are the latest brands reckoning with racially charged logos. The soul-searching comes in the wake of PepsiCo's announcement Wednesday that it's renaming its Aunt Jemima syrup brand. Mars Inc. says it's also reviewing its Uncle Ben's rice brand.
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NewsPlexus Media June 18, 2020

Netflix CEO to donate $120M to historically black colleges
Netflix CEO Reed Hastings and his wife, Patty Quillin, are donating $120 million toward student scholarships at historically black colleges and universities. The couple is giving $40 million to each of three institutions: the United Negro College Fund, Spelman College and Morehouse College. The organizations said it is the largest individual gift in support of student scholarships at HBCUs.
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NewsPlexus Media June 18, 2020

Aunt Jemima brand retired by Quaker due to racial stereotype
America’s painful struggles over racism have finally caught up with Aunt Jemima, that ubiquitous fixture served up at breakfast tables for 131 years. Quaker Oats announced Wednesday that it will retire the Aunt Jemima brand, saying the company recognizes the character’s origins are “based on a racial stereotype.” Indeed, the logo was inspired by 19th century minstrel celebrating the “mammy,” a black woman content to serve her white masters.
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NewsPlexus Media June 18, 2020

Pandemic leads to a bicycle boom, and shortage, around world
Fitness junkies locked out of gyms, commuters fearful of public transit, and families going stir crazy inside their homes during the coronavirus pandemic have created a boom in bicycle sales unseen in decades. In the United States, bicycle aisles at mass merchandisers like Walmart and Target have been swept clean, and independent shops are doing a brisk business and are selling out of affordable "family" bikes.
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NewsPlexus Media June 18, 2020

'We've missed it': Long lines form outside shops in England
For many in England, it's been a day of much-needed retail therapy. Long lines stretched down streets in England on Monday as shops selling items considered as nonessential during the coronavirus pandemic, such as sneakers and toys, welcomed customers for the first time since the U.K. was put into lockdown in late March. Starved of the retail experience for the best part of three months, the keenest of shoppers rushed to make up for lost time, to pick up a bargain, browse or just have a chat.
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NewsPlexus Media June 18, 2020

US casinos push for cashless gambling payments, citing virus
The American casino industry wants gambling regulators to make it easier to adopt cashless payment transactions on the casino floor, citing a desire to help customers avoid handling money during the coronavirus outbreak. In a report released Tuesday, the American Gaming Association, the gambling industry's national trade group, called on regulators in states where gambling is allowed to update their rules or laws to integrate cashless options for gamblers.
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NewsPlexus Media June 17, 2020

US shoppers returned with vigor in May in partial rebound
American shoppers ramped up their spending on store purchases by a record 17.7% from April to May, delivering a dose of energy for retailers that have been reeling since the coronavirus shut down businesses, flattened the economy and paralyzed consumers during the previous two months. The government’s report Tuesday showed that consumers' retail purchases have retraced some of the record-setting month-to-month plunges of March (8.3%) and April (14.7%) as businesses have increasingly reopened. Still, the pandemic’s damage to retailers remains severe, with purchases still down 6.1% from a year ago.
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NewsPlexus Media June 17, 2020

Businesses ask patrons to waive right to sue if they get ill
As businesses reopen across the U.S. after coronavirus shutdowns, many are requiring customers and workers to sign forms saying they won't sue if they catch COVID-19. Businesses fear they could be the target of litigation even if they adhere to safety precautions from the Centers for Disease Control and Prevention and state health officials. But workers' rights groups say the forms force employees to sign away their rights should they get sick.
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NewsPlexus Media June 17, 2020

Just Eat swallows Grubhub creating restaurant delivery giant
Two pioneers in restaurant delivery — Just Eat Takeaway.com and Grubhub — are combining in a $7.3 billion deal that will create one of the world's largest delivery companies. Amsterdam-based Just Eat Takeaway.com said late Wednesday that it was acquiring Chicago-based Grubhub, snatching it away from ride-hailing giant Uber, which had been reportedly seeking to team Grubhub with its Uber Eats business.
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NewsPlexus Media June 11, 2020

Amazon bans police use of its face recognition for a year
Amazon banned police use of its face-recognition technology for a year, making it the latest tech giant to step back from law-enforcement use of systems that have faced criticism for incorrectly identifying people with darker skin. The Seattle-based company did not say why it took action now. Ongoing protests following the death of George Floyd have focused attention on racial injustice in the U.S. and how police use technology to track people.
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NewsPlexus Media June 11, 2020

IBM quits facial recognition, joins call for police reforms
IBM is getting out of the facial recognition business, saying it's concerned about how the technology can be used for mass surveillance and racial profiling. IBM is one of several big tech firms that had earlier sought to improve the accuracy of their face-scanning software after research found racial and gender disparities. But its new CEO is now questioning whether it should be used by police at all.
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NewsPlexus Media June 10, 2020

Movie theaters, shuttered for months, plan July reopening
After three months of near total blackout of cinemas nationwide, movie theaters are preparing to reopen — even if it means only a few titles on the marquee and showings limited to as little as 25% capacity. AMC Theaters, the world's largest theater operator, said Tuesday that it expects to have 97-98% of its theaters worldwide reopened by mid-July.
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NewsPlexus Media June 10, 2020

BP to cut 10,000 jobs worldwide amid virus pandemic
Oil and gas company BP announced Monday that it will slash its global workforce by 10,000 jobs as the COVID-19 pandemic slams the energy industry. Chief Executive Bernard Looney said that the cuts will affect office-based roles in BP's global workforce of 70,000 people and come mostly this year. The changes are expected to significantly affect senior levels, cutting the number of group leaders by a third.
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NewsPlexus Media June 10, 2020

CrossFit founder, dropped by Reebok, apologizes about tweet
The founder of CrossFit is apologizing for a Twitter post he made about racial inequality protests after Reebok cut ties with his company. On Saturday, the Institute of Health Metrics and Evaluation tweeted: "Racism is a Public Health Issue." In a response, also on Twitter, CrossFit founder and CEO Greg Glassman said,"It's Floyd-19."
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NewsPlexus Media June 9, 2020

Bloodied store manager describes life in the age of COVID-19
For weeks Samantha Clarke calmly listened to the insults and threats directed daily at her and her employees by people who learned they couldn't enter the Modesto, California, store without wearing a mask and following other coronavirus-related rules. But never, says the 17-year veteran of retail sales, did she expect she'd be sucker-punched and left with blood gushing from her battered face. Not until it happened recently after a customer was told the last above-ground swimming pool in stock had just been sold to someone else.
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NewsPlexus Media June 7, 2020

Zuckerberg-funded scientists: Rein in hate on Facebook
Dozens of scientists doing research funded by Mark Zuckerberg say Facebook should not be letting President Donald Trump use the social media platform to “spread both misinformation and incendiary statements.” The researchers, including 60 professors at leading U.S. research institutions, wrote the Facebook CEO on Saturday asking Zuckerberg to “consider stricter policies on misinformation and incendiary language that harms people," especially during the current turmoil over racial injustice.
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NewsPlexus Media June 7, 2020

Patrons under plastic: Restaurants get creative in virus era
Dining at a table where each person is enclosed by a clear plastic shield might look and sound futuristic, but it could be one way for some restaurants to reopen. It also might help out if your companion orders escargots, heavy on the garlic. The prototype plastic shields are known as the "Plex'eat," and they resemble big clear lampshades suspended from the ceiling. They are being showcased temporarily at H.A.N.D., a Parisian restaurant seeking a way to reopen its dining room as coronavirus restrictions are relaxed.
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NewsPlexus Media June 7, 2020

Reddit co-founder leaves board, urges black replacement
Reddit co-founder Alexis Ohanian announced his resignation from the board of the social media site and urged the board to replace him with a black candidate. Ohanian, who is white, implicitly linked his move to protests around the globe over the killing of George Floyd, a black man who died in Minneapolis after a police officer pressed his knee against his neck for several minutes, even after he stopped pleading for air and became unresponsive.
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NewsPlexus Media June 6, 2020

Facebook removes nearly 200 accounts tied to hate groups
Facebook has removed nearly 200 social media accounts linked to white supremacy groups that planned to encourage members to attend protests over police killings of black people — in some cases with weapons, company officials said Friday. The accounts on Facebook and Instagram were tied to the Proud Boys and the American Guard, two hate groups already banned on the platforms.
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NewsPlexus Media June 4, 2020

Zuckerberg still under fire over inflammatory Trump posts
Facebook CEO Mark Zuckerberg isn’t budging over his refusal to take action on inflammatory posts by President Donald Trump that spread misinformation about voting by mail and, many said, encouraged violence against protesters. His critics, however, are multiplying. Some employees have publicly quit over the issue and civil-rights leaders who met with him Monday night denounced Zuckerberg's explanation for choosing to leave Trump's posts alone as “incomprehensible.”
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NewsPlexus Media June 3, 2020

Survey: US factories sink in May for third straight month
American factories slowed for the third consecutive month in May as they continued to sustain economic damage from the coronavirus pandemic. The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index came in at 43.1 last month after registering 41.5 in April. Anything below 50 signals that U.S. manufacturers are in retreat. New orders, production, hiring and new export orders all fell in May but at a slower pace than they did in April.
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NewsPlexus Media June 3, 2020

With rare candor, employees protest Facebook's Trump policy
Facebook employees are using Twitter and Facebook's internal communications tools to register their frustration over CEO Mark Zuckerberg's decision to leave up posts by President Donald Trump that suggested protesters in Minneapolis could be shot. Twitter flagged and demoted Trump's tweet about the protests when he used the phrase “when the looting starts the shooting starts.” Facebook has let it stand, and Zuckerberg explained his reasoning in a Facebook post Friday.
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NewsPlexus Media June 2, 2020

Brands weigh in on national protests over police brutality
As thousands of protesters take to the streets in response to police killings of black people, companies are wading into the national conversation but taking care to get their messaging right. Netflix’s normally lighthearted Twitter account took on a more somber tone on Saturday: “To be silent is to be complicit. Black lives matter. We have a platform, and we have a duty to our Black members, employees, creators and talent to speak up.” That got retweeted over 216,000 times and “liked” over a million times.
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NewsPlexus Media June 1, 2020

Protests force Target, CVS and Walmart to close some stores
U.S. retailers large and small have closed some of their stores across the country because of disruptions caused by the widespread street protests over the police killing of George Floyd in Minneapolis. Target, CVS, Apple and Walmart all said Sunday that they had temporarily closed or limited hours at some locations for safety reasons. In some places, their stores have been burned, broken into or looted as protests turned violent.
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NewsPlexus Media June 1, 2020

US consumer spending sinks by record 13.6% in face of virus
U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession. Last month's spending decline was far worse than the revised 6.9% drop in March, which itself had set a record for the steepest one-month fall in records dating to 1959. Friday's Commerce Department figures reinforced evidence that the economy is gripped by the worst downturn in decades, with consumers unable or too anxious to spend much.
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NewsPlexus Media May 31, 2020

Infected workers, parts shortages slow auto factory restarts
The U.S. auto industry's coronavirus comeback plan was pretty simple: restart factories gradually and push out trucks and other vehicles for waiting buyers in states left largely untouched by the virus outbreak. Yet the return from a two-month production shutdown hasn't gone quite according to plan. For some automakers, full production has been delayed, or it's been herky-herky, with production lines stopping and starting due to infected workers or parts shortages from Mexico and elsewhere.
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NewsPlexus Media May 31, 2020

Hello and welcome: robot waiters to the rescue amid virus
When Shaosong Hu saw robotic waiters serving food in China last fall, he knew exactly what he wanted for his oriental restaurant in the Dutch beachside town of Renesse. He just didn't have a clue how useful they would prove. The coronavirus pandemic has turned a whimsical idea into perhaps a window into a dystopian future where a human touch may make people cringe with fear, and a waiter clearing the table sends a customer tense with stress — only to be relieved by a soothing brush with plastic.
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NewsPlexus Media May 30, 2020

Vanishing jobs for young could create 'lock-down generation'
The U.N. labor agency reported Wednesday that more than one in every six young workers globally have stopped working during the pandemic, warning that long-term fallout could lead to a “lock-down generation” if steps aren’t taken to ease the crisis. The International Labor Organization, in a new look at the impact of the pandemic on jobs, says that work hours equivalent to 305 million full-time jobs have been lost due to the COVID-19 crisis. Many young workers face economic hardship and despair about the future.
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