In recent days, marquees around New York have been adorned with messages begging and pressuring Gov. Andrew Cuomo to allow cinemas to welcome back customers.
“48 states have reopened theatres safely. Why not New York, Gov. Cuomo?” read the sign outside a Regal Cinemas in Times Square. The Aurora Theatre, a movie palace near Buffalo that dates back to 1925, was pithier. “Now showing nothing. Starring nobody,” its sign said.
Cinema owners are fed up over the lack of direction they say they’ve received from officials in the Empire State about how they can reopen their businesses after being closed for nearly seven months due to the coronavirus.
“To say I’m frustrated would be an understatement,” said Brett Bossard, executive director of Cinemapolis, a five-screen non-profit theater in Ithaca. “They’ve shared no guidelines or benchmarks and that’s left us without any way to properly prepare. We’re operating in the dark.”
New York (Reuters) – The dollar index was little changed near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic, while China’s yuan fell after the People’s Bank of China (PBOC) changed its reserve requirements policy.
On Sunday, the Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package continue to run into roadblocks. A White House spokeswoman said on Monday that Senate Republicans will go along with what Trump wants in legislation.
The greenback has held within a range of about 2% over the past three weeks as talks have gone back and forth. The dollar had its biggest loss
Dallas Mavericks owner Mark Cuban said that he is “against human rights violations around the world,” though he is “OK doing business with China,” where more than one million Muslims have been imprisoned in concentration camps because “we have to pick our battles.”
Cuban’s comments came during an appearance on The Megyn Kelly Show podcast that aired Monday, in which the former Fox News and NBC News host asked why Cuban and the NBA wouldn’t “explicitly condemn” the numerous human rights abuses being carried out by the Chinese government, including the ethnic cleansing of Muslims, torture, forced labor, coercive population controls, forced abortions and forced sterilizations.
“I personally put a priority on domestic issues. I’m against human rights violations around the world,” Cuban said.
NEW YORK — Stocks marched higher again on Monday, as Wall Street extended its gains from last week’s rally, the market’s best in three months.
The S&P 500 rose 1.6%, following up on strengthening in stock markets around the world. Big Tech stocks, including Apple and Microsoft, powered much of the gains. Their businesses have proven to be practically impervious to the pandemic, unlike companies that would benefit from a strengthening economy.
The market’s latest upward push came as Wall Street appeared to largely shrug off the latest signs that Democrats and Republicans are no closer to reaching a deal on more aid for the economy, which remains hobbled by the pandemic. Over the weekend, Democratic House Speaker Nancy Pelosi criticized the latest offer from the Trump administration on a stimulus package as “one step forward, two steps back,” while the president’s fellow Republicans called it too expensive.
(Reuters) – Global stocks scaled five-week highs on Monday on hopes that more government stimulus was coming and the world economy was on the mend, while the Chinese yuan retreated from a 17-month high after a policy move over the weekend. Investor optimism that Washington will work through talks that have repeatedly stalled to deliver another round of fiscal stimulus drove major U.S. stock indices to highs last seen in early September. Hopes that the top Wall Street banks will announce a decent set of third-quarter earnings this week that show business activity was not as weak as feared also helped. Slugged by stronger investor demand for risk, the U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high. The U.S. bond market is closed on Monday for Columbus Day. The cheer over the economic outlook and government stimulus did not boost
(Reuters) – European shares hit a five-week high on Monday as optimism about a stable economic recovery in China and hopes of more U.S. fiscal stimulus helped offset concerns around surging COVID-19 cases across the continent.
The pan-European STOXX 600 <.STOXX> marked a third straight day of gains to end 0.7% higher, led by utilities <.SX6P>, technology <.SX8P> and autos <.SXAP> stocks.
The Trump administration on Sunday called on the U.S. Congress to pass a stripped-down coronavirus relief bill after talks stalled on a more comprehensive stimulus deal.
“Investors have not lost faith that further stimulus measures will follow and that an effective COVID-19 vaccine will soon be placed on the market,” said Milan Cutkovic, market analyst at Axi.
But a jump in domestic coronavirus cases has raised the spectre of fresh lockdowns and cast a shadow over a nascent economic rebound.
With Italy preparing for nationwide curbs, the European
YouTube CEO Susan Wojcicki isn’t committing to an outright ban of QAnon content on the platform.
Wojcicki was asked about banning QAnon, a baseless far-right conspiracy theory, during an interview with CNN’s Poppy Harlow. She cited the movement’s grassroots nature as a complicating factor in banning it but added that YouTube’s policies are continuing to evolve.
Wojcicki said YouTube has already removed “hundreds of thousands” of QAnon videos and made changes to its recommendations tool, which she said have resulted in an 80% reduction in views on QAnon videos.
Earlier this month, Facebook dealt a blow to the QAnon movement by announcing it would ban Pages and Groups, as well as Instagram accounts, that represented QAnon.
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Facebook may have banned QAnon content from all of its platforms, but Susan Wojcicki isn’t committing to doing the same on YouTube.
Stocks are pushing higher on Wall Street in afternoon trading Monday and tacking more gains onto last week’s market rally, its best in three months.
The S&P 500 was 1.8% higher, following up on strengthening in stock markets around the world. The Dow Jones Industrial Average was up 308 points, or 1.1%, at 28,895, as of 12:35 p.m. Eastern time, and the Nasdaq composite was 2.6% higher.
The gains are being driven mostly by Big Tech stocks, whose businesses have proven to be practically impervious to the pandemic, rather than companies that would benefit from a strengthening economy.
Apple climbed 5.4% and alone accounted for nearly a quarter of the S&P 500’s rise. Amazon gained 5.1%. Both companies have events coming up this week, with Apple expected to unveil its latest batch of iPhones on Tuesday and Amazon holding its Prime
New York, Oct 12 (Reuters) – The dollar index held near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic while China’s yuan fell after the People’s Bank of China (PBOC) changed its reserve requirements policy.
On Sunday, the Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package continue to run into roadblocks.
The greenback has held within a range of about 2% over the past three weeks as talks have gone back and forth. The dollar had its biggest loss in six weeks on Friday amid rising hopes a fiscal stimulus package would be agreed to stem the economic fallout from COVID-19. More stimulus is seen as negative for the dollar.
Levi Strauss(NYSE:LEVI) saw its revenue decline substantially in fiscal 2020’s third quarter (which ended Aug. 23) due to reduced traffic and store closures during the coronavirus pandemic. However, Levi’s e-commerce revenue growth accelerated meaningfully, and management is investing in certain areas to build out a more robust direct-to-consumer business, which could have a big impact on growth once the pandemic has passed.
Here are three reasons why Levi’s online business is kicking into a higher gear.
Image source: Getty Images.
1. Expanding the customer base
One of Levi’s top growth initiatives is building a more robust omnichannel experience. Levi’s is currently experiencing tremendous momentum with online sales, as company-operated e-commerce sales surged 52% last quarter and made up 8% of the business. The acceleration was helped by recent store closures, but the market share Levi’s is gaining with women could help the brand grow online sales faster in a