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Tag Archives: coronavirus business impact

J&J slashes outlook, races to develop coronavirus vaccine

Johnson & Johnson, anticipating significant impact from the COVID-19 pandemic, slashed its 2020 sales forecast by billions of dollars and also cut its profit expectations. It’s one of the first major U.S. corporations to report first-quarter earnings and likely a ...

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Restaurants, trying to stay afloat, revamp menus, operations

In the battle to keep their New York City restaurant going despite sharp restrictions during the coronavirus outbreak, the owners of Il Posto Accanto tried something Beatrice Tosti di Valminuta would have considered sacrilege in normal times. That was offering ...

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Trump calls himself ‘wartime president’ as he battles virus

Describing himself as a “wartime president” fighting an invisible enemy, President Donald Trump invoked rarely used emergency powers to marshal critical medical supplies against the coronavirus pandemic. Trump also signed an aid package — which the Senate approved earlier Wednesday ...

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Coronavirus strikes journalists, others change way they work

Six people at CBS News have tested positive for coronavirus, including a correspondent stationed in Italy, as media organizations fought against the same epidemic they’re charged with describing. Five employees with the virus work in CBS’ New York offices, where ...

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Business Fallout: Walmart limits hours, airlines cut flying

Airlines will slash 50 percent of its flying capacity in April and May and warns the cuts could extend into the peak summer travel season as the impact of the new coronavirus on airlines grows more dire. Bookings are plummeting ...

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Stocks nosedive on Wall Street, triggering trading halt

Stocks are down 9 percent after trading resumed on Wall Street following a temporary halt Monday morning. Markets are down by similar percentages around the world as huge swaths of the economy come closer to shutting down due to the ...

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Gov. Parson: Cancel or suspend gatherings larger than 50

Missouri Gov. Mike Parson said Sunday that his administration is strongly encouraging the cancellation or suspension of public events with more than 50 people following federal health officials’ recommendations that those events be halted in an attempt to slow the ...

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As virus seizes markets, it’s no longer business as usual

Global markets and businesses big and small opened the week to a landscape seemingly altered by the coronavirus pandemic. A host of retail chains have shut their doors or diminished hours of business. Banks are taking steps to keep cash ...

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