The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to national and global response, the work place and the spread of the virus.
TRAVEL: In some regions, airlines ravaged by the outbreakare testing vastly diminished schedules. There are also some signs of a return for cruise lines as well, from which many first recognized the severity of the outbreak as isolated passengers did interviews from their cabins.
—
The company is seeing increased cancellations for cruise reservations this year.
—
RETAIL: In the span of several days, two major
— Gap,
Kohl’s which has already opened stores in four states, will reopen stores in 10 additional states Monday. Fitting rooms will remain closed.
Gap plans to reopen 800 of its
CENTRAL GOVERNMENTS & BANKS: Nations struck early by the outbreak, and some
—
— The northern Italian province of
— Swiss government officials have backed down from plans to require restaurants and bars to take the names and phone numbers of their patrons as a way to fight the coronavirus, saying it’s now “optional.”
The flip-flop Friday comes after privacy advocates, restaurant owners and legal experts cried foul over the requirement that was aimed to help improve monitoring of the outbreak as COVID-19 restrictions are eased.
After nearly two months of closure, most schools, stores and businesses in
RESTAURANTS: Restaurants are reviewing operations as dining rooms reopen in some regions. The index that follows restaurants and hotels has plunged 27% in the past three months, among the worst in the S&P 500, and the job losses in the industry have been massive.
— Same store sales at company-owned Ruth’s
All dining rooms at company-owned restaurants are closed, Ruth’s
The company withdrew financial guidance for the year, suspended its quarterly dividend and share repurchases, and suspended all restaurant construction and non-essential capital expenditures.
MARKETS: Markets are rising Friday as they have all week, despite devastating numbers contained in the monthly
Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source