General Business
BERLIN (AP) — German consumers are growing increasingly pessimistic amid growing fears of new lockdown measures in Europe's largest economy as coronavirus numbers continue to rapidly climb, a survey showed Thursday.
The forward-looking GfK consumer climate index fell more strongly than predicted by economists to minus 3.1 points for November, from a value of minus 1.7 points in October.
The survey of some 2,000 consumers over the first two weeks of October showed about three-quarters of them believe the coronavirus poses a “major or very major threat” and about half are “concerned or very concerned” about their personal future, the Nuremberg-based agency said.
“The rapid increase in infection rates is leading to a tightening of restrictions brought on by the pandemic," said GfK consumer expert Rolf Buerkl. “Fear of a second lockdown, should infections get out of control in the coming winter months, is also increasing.”
Germany's number of new COVID-19 cases per 100,000 people over the past seven days has climbed past 50, according to the Robert Koch Institute, the country’s disease control center.
The institute on Thursday reported that it had recorded 11,287 new cases over the past 24 hours, the first time there have been more than 10,000 daily cases since the pandemic began, shattering the previous record figure of 7,830 daily infections set on Saturday.
The pandemic pushed Germany's economy into a recession in the first quarter, and the drop in consumer confidence suggests that increasing private consumption may not continue to bring growth back around, said ING economist Carsten Brzeski.
“New uncertainty and new restrictions as well as local lockdowns have already started to dampen consumer confidence and the prospects for private...
Alphina Kamara wonders what might have happened if she’d been introduced to science and engineering careers at her high school in Wilmington, Delaware.
Kamara, who is Black, was enrolled in an “audio engineering” course that taught her how to make music tracks and videos instead of a regular engineering course that she recalls was mostly filled with white students.
When she asked an administrator at Mount Pleasant High School about this apparent disparity, she said she was told that the audio engineering course was created for “regular students.”
“They thought we would be more interested in audio engineering than engineering,” said Kamara, now a junior at Wesleyan University studying English and sociology. “That was a hard pill to swallow.”
Historically, career and technical education (CTE) was seen as a dumping ground for students who weren’t considered college material. A two-tier educational system tracked predominantly low-income students and students of color into career and technical classes, then known as vocational education. But in recent years, schools have revamped these courses to prepare students for higher education and lucrative work in fields such as technology, health care and engineering.
A Hechinger Report/Associated Press analysis of CTE enrollment data from 40 states reveals deep racial disparities in who takes these career-oriented courses. Black and Latino students were often less likely than their white peers to enroll in science, technology, engineering and math (STEM) and information technology classes, according to the analysis, which was based primarily on 2017-18 data. Meanwhile, they were more likely to enroll in courses in hospitality and, in the case of Black students in particular, human services.
The analysis offers a comprehensive look at data that states will...
ORCHARD PARK, N.Y. (AP) — The Mafia is becoming legitimate in Buffalo — the Bills Mafia that is.
The Bills last week filed an application to trademark the fan base’s adopted nickname in preparation to launch a series of branded merchandise and apparel available at Buffalo's team store and sold online.
Bills Mafia, which first became popular in 2011 and for years was considered taboo by the Bills and NFL because of its connotation of organized crime, will be featured on everything from T-shirts to potentially pajamas, and available as early as this week.
“We felt like we needed to embrace this, because it had really turned into a community spirit,” said Ron Raccuia, executive vice president of the Bills' parent company, Pegula Sports and Entertainment. “Our players and our coaching staff have really been engaged with it, and it just became very natural.”
Just as important, the Bills are collaborating with members of the Bills Mafia fan base, including Del Reid, who coined the phrase and has since launched a T-shirt business.
“I don’t like using the word godfather,” Raccuia joked, “but (Reid) and his partners came up with this idea, they brought it to life. We wouldn’t be here without them. And they’re certainly going to be a big part of this ride going forward.”
That wasn’t always the view of Bills management, going back to the days of Hall of Fame owner Ralph Wilson, who died in 2014. Rather than acknowledge the nickname, the team would go out of its way to avoid its mention.
Another concern was how Bills Mafia became mischaracterized on social media, which focused on the team’s rowdier, table-breaking fans, while overlooking the charitable work done on behalf of the nickname over the years.
“Bills Mafia has always stood for support...
BERLIN — Germany’s disease control center is reporting a new daily record increase in coronavirus infections, which rocketed past the 10,000 mark for the first time as the pandemic continues to spread.
The Robert Koch Institute said Thursday that it had recorded 11,287 new cases over the past 24 hours, shattering the previous record figure of 7,830 daily infections set on Saturday.
The news comes the day after Health Minister Jens Spahn tested positive for COVID-19 himself.
He has been quarantined at home and told Bild newspaper that so far he’s just suffering from “cold-like symptoms.”
The government says Chancellor Angela Merkel’s Cabinet members have always followed distancing, hygiene and mask rules, so there is no reason for other ministers to quarantine.
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HERE’S WHAT YOU NEED TO KNOW ABOUT THE VIRUS OUTBREAK:
— Regulators, experts take up thorny vaccine study issues
— Despite pledges, Czechs face 2nd lockdown as system totters
— Virus spikes have officials looking to shore up hospitals
— Brazilian President Jair Bolsonaro has overruled his own health minister on the announced purchase of 46 million doses of a potential coronavirus vaccine being tested in Sao Paulo state.
— Ireland is already focused on Christmas. It’s a major national priority. Unless the country can get the COVID-19 epidemic under control, there won’t be much Christmas cheer this year in Galway, Cork or Dublin.
— Poland’s prime minister has signaled that the whole country faces being placed on the highest restriction level short of a full lockdown, as health authorities registered a record in new confirmed COVID-19 infections.
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Follow all of AP’s coronavirus pandemic coverage at...
WASHINGTON (AP) — U.S. officials have accused Iran of being behind a flurry of emails sent to Democratic voters in multiple battleground states that appeared to be aimed at intimidating them into voting for President Donald Trump.
The officials did not lay out specific evidence for how they came to pinpoint Iran, but the activities attributed to Tehran would mark a significant escalation for a country some cybersecurity experts regard as a second-rate player in online espionage. The Wednesday announcement was made at a hastily called news conference 13 days before the election.
The allegations underscored the U.S. government's concern about efforts by foreign countries to influence the election by spreading false information meant to suppress voter turnout and undermine American confidence in the vote. Such direct attempts to sway public opinion are more commonly associated with Moscow, which conducted a covert social media campaign in 2016 aimed at sowing discord and is again interfering this year, but the idea that Iran could be responsible suggested that those tactics have been adopted by other nations, too.
“These actions are desperate attempts by desperate adversaries,” said John Ratcliffe, the government's top intelligence official, who, along with FBI Director Chris Wray, insisted the U.S. would impose costs on any foreign countries that interfere in the 2020 U.S. election and that the integrity of the election is still sound.
“You should be confident that your vote counts,” Wray said. “Early, unverified claims to the contrary should be viewed with a healthy dose of skepticism.”
The two officials called out both Russia and Iran for having obtained voter registration information, though such data is sometimes easily accessible and there was no allegation either country had hacked a database for...
DUBAI, United Arab Emirates (AP) — A new wonder is rising in the southern desert of Dubai against the backdrop of Persian Gulf beaches, but it's not another skyscraper to grace the futuristic sheikhdom. Instead, it's one of mankind's oldest power sources gaining its own space on the oil-rich Arabian Peninsula — a coal-fired power plant.
The construction of the $3.4 billion Hassyan plant in Dubai appears puzzling, as the United Arab Emirates hosts the headquarters of the International Renewable Energy Agency. It's also building the peninsula's first nuclear power plant and endlessly promotes its vast solar-power plant named after Dubai's ruler. Dubai has also set the lofty goal of having the world's lowest carbon footprint in the world by 2050 — something that would be impacted by burning coal.
The coal plant's arrival comes as Gulf Arab nations remain among the world's hungriest for energy and amid political concerns over the use of natural gas imported from abroad, concerns underscored by a yearslong dispute with gas-producer Qatar, which is boycotted by four Arab nations, including the UAE.
“Dubai was really saying we're far too exposed on gas imports, those could be interrupted by all kinds of things, the cost is very high and so we have to do something else to diversify our fuel supply and bring down the total cost,” said Robin Mills, the CEO of Qamar Energy, a Dubai-based consulting company. "They got a very competitive offer on the coal plant ... and so the decision was made.”
“If they were making the decision today, would they make the same decision? Probably not, to be honest," Mills said. “But once it was committed and once it was substantially down the road, then they had to see it through.”
The Dubai Electricity and Water Authority, the sheikhdom's state-run utility, did not respond to...
BEIJING (AP) — Asian stocks followed Wall Street lower on Thursday as investors watched Washington for signs of whether political leaders can agree on an economic aid plan in the two weeks before the Nov. 3 presidential election.
Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated.
On Wall Street, the benchmark S&P 500 index lost 0.2% on Wednesday as U.S. political leaders wrangled over economic aid following the expiration of extra unemployment benefits that propped up consumer spending. Democrats are pressing President Donald Trump's Republicans to expand a proposed package.
The speaker of the House of Representatives, Nancy Pelosi, said she made progress in talks with the White House. But a potential agreement might face opposition in the Senate, where Majority Leader Mitch McConnell told fellow Republicans he warned the White House not to seal a relief deal before the election.
“Fiscal stimulus deal optimism has faded,” said Mizuho Bank in a report.
The Shanghai Composite Index lost 0.7% to 3,302.55 and the Nikkei 225 in Tokyo shed 0.6% to 23,489.51. The Hang Seng in Hong Kong retreated 0.1% to 24,719.12.
The Kospi in Seoul was 0.7% lower at 2,353.28 and Sydney's S&P-ASX 200 declined 0.3% to 6,173.80.
India's Sensex opened down 0.2% at 40,623.74. New Zealand, Singapore and Jakarta also retreated while Bangkok advanced.
Markets are swinging between optimism about possible development of a coronavirus vaccine and uncertainty about the U.S. economic outlook without an aid package.
On Wall Street, the S&P 500 declined to 3,435.56. The Dow Jones Industrial Average lost 0.4%. The Nasdaq composite gave up 0.3% to 11,484.69.
Industrial and health care stocks declined. Communications services gained. Social media stocks rose after the...
California's amusement parks have been pining to reopen for months, hoping to bring back thousands of workers sent home in March when the coronavirus pandemic forced them to close their gates.
Now that state health officials announced strict new rules for reopening the parks, attractions spanning from Disneyland to Universal Studios are bracing for an even longer shutdown — and so are the surrounding communities lined with hotels, restaurants and shops that cater to visitors who no longer walk their streets.
The city of Anaheim, which is home to Disneyland, has slashed its general fund budget forecast by 30 percent because of plummeting hotel and other tax revenues usually generated by the resort area and a nearby convention center, said Mike Lyster, a city spokesman. Officials fear mom-and-pop shops along a boulevard normally packed with backpack-toting tourists wearing Disney's hallmark Mickey Mouse ears could wind up closing for good.
“We understand this is a pandemic-induced downturn. But what our concern is, without a recovery plan, it could easily become a prolonged economic downturn,” Lyster said.
California announced Tuesday that smaller theme parks could reopen on a limited basis when their home counties report moderate levels of virus transmission, but with only 500 patrons or 25% of capacity, whichever is smaller, and only outdoor attractions. Bigger parks such as Disneyland must wait until counties reduce virus transmission to minimal levels. But with many of the parks located in densely populated Southern California, industry leaders and health officials said it could take months for their counties to be able to do so — possibly not until there's a vaccine.
Dr. Mark Ghaly, California's health and human services secretary, said the concern is that large theme parks draw visitors from further away...
COLOMBO, Sri Lanka (AP) — Sri Lanka's main fish market was closed Thursday and a curfew widened as a COVID-19 outbreak grows.
The government imposed the curfew in parts of the capital and some areas outside Colombo after earlier isolating at least six villages in Western province where the new cluster was discovered early this month. Colombo is inside Western province.
Health authorities also temporarily closed the island nation’s main fish market after 49 traders tested positive. Hundreds of other traders at the market on the outskirts of Colombo are being tested for the coronavirus.
By Thursday, 2,510 infections have been connected to the cluster first tied to a garment factory and which authorities identified as Sri Lanka's first community outbreak in two months.
Schools and key public offices have been closed, public gatherings banned and restrictions imposed on public transport.
Sri Lanka has reported a total of 5,811 confirmed cases with 13 deaths since March.
In other developments in the Asia-Pacific region:
— India added fewer than 60,000 new coronavirus cases for a third day. The Health Ministry reported 55,839 new cases, taking India's total past 7.7 million. The 702 deaths recorded in the past 24 hours brought its total fatalities to 116,616 on Thursday. Authorities are concerned relaxing attitudes might cause a resurgence. The Election Commission issued a warning after political campaigning drew large crowds without masks and social distancing in eastern Bihar state where voting for state elections is due to begin next week. Bihar is India’s third largest state with a population of about 122 million people. Health officials also are concerned about the potential spread during religious festivals. In West Bengal state, a court limited the size of congregations during the Hindu Durga Puja...
COLOMBO, Sri Lanka — Authorities in Sri Lanka have closed the country’s main fish market and widened the curfew in many parts of the island nation following a surge of coronavirus infections related to a new cluster centered on a garment factory.
The government imposed a curfew Thursday in parts of Colombo and some areas outside the capital. Officials already isolated at least six villages elsewhere in the same province, where the new cluster was discovered early this month.
Authorities also suspended operations at Sri Lanka’s main fish market after 49 traders tested positive. Health workers are conducting tests on hundreds of other traders at the market on the outskirts of Colombo.
Schools and key public offices are also closed, public gatherings banned and restrictions imposed on public transport.
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HERE’S WHAT YOU NEED TO KNOW ABOUT THE VIRUS OUTBREAK:
— Spain reaches 1 million cases of coronavirus
— North Dakota Republican governor calls National Guard to help with test results
— CDC redefines coronavirus close contact, adds brief encounters
— Next up in hunt for COVID-19 vaccine: Testing shots in kids. Pfizer received permission last week to test its vaccine in U.S. kids as young as 12.
— Boston schools will switch to all-remote learning in response to rising coronavirus cases in the city.
— Brazil President overrules own health minister, rejecting purchase of 46 million doses of a potential coronavirus vaccine tested in Sao Paulo state.
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Follow all of AP’s coronavirus pandemic coverage at http://apnews.com/VirusOutbreak and https://apnews.com/UnderstandingtheOutbreak
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HERE’S WHAT...
MEXICO CITY (AP) — Property owners in Mexico are being required to allow access through their land for the public to reach beaches that do not have access roads, under a law enacted Wednesday.
The Environment Department said land owners would be compensated for access.
The law also establishes fines of up to $49,000 for hotels, restaurants or other property owners that restrict access to the country’s beaches.
Mexicans have long been angered by private restaurants, clubs and hotels that erect barriers or employ guards to keep locals off “their” stretches of beach.
Federal law already states the public cannot be denied access to a space 20 meters (65 feet) inland from the high tide line, but some businesses mark off exclusive areas for tables or beach chairs almost up to the water’s edge. Business that repeatedly break the law could lose their permits to operate on any part of the beach.
In February, two Mexican tourists were briefly arrested in the Caribbean resort of Playa del Carmen after refusing to leave a stretch of sand that had been taken over by a local restaurant to set up tables for paying customers. The arrests sparked protests, and the local government later apologized.
The private “beach club” had been charging to use lounge chairs placed almost up to the water, and it called municipal police when the couple refused to leave what the club called “a service aisle” on the sand. Video posted on social media showed the couple being handcuffed and wrestled off the beach by police as other people objected, noting beach access is protected by law.
The issue has also gained prominence during the pandemic. Public beaches were officially closed along much of Mexico’s Caribbean coast as a health measure, but tourists — often foreigners —...
PANAMA CITY (AP) — A German arrest order for two Panamanian lawyers whose firm was at the center of an international tax evasion scandal faces a substantial obstacle: Panama’s constitution prohibits the extradition of its citizens.
Juergen Mossack and Ramón Fonseca are sought by Cologne prosecutors on charges of being an accessory to tax evasion and forming a criminal organization.
“They have constitutional protection,” Alvin Weeden, a lawyer in Panama, said Wednesday. “Technically, there’s no possibility.”
Mossack and Fonseca already face prosecution in Panama and are prohibited from leaving the country while out on bond after spending two months in jail. That case stems from allegations they helped create a corporation to hide money used for bribes by the Brazilian construction company Odebrecht as well as fallout from the so-called Panama Papers scandal.
The Panama Papers include a collection of 11 million secret financial documents leaked in 2016 that illustrated how some of the world’s richest people hide their money. It brought scrutiny to a number of world leaders and was a hit to Panama’s reputation.
Interpol’s office in Panama did not immediately respond to a request for comment about whether it had received an alert from German authorities about the case in Germany against Mossack and Fonseca.
In a statement, Mossack and Fonseca said their firm had sold corporations to a German bank that later resold them to clients. They said they had nothing to do with subsequent transactions.
“If one these ultimate beneficiaries evaded taxes in their country or committed some other crime using a corporation created by us, that is totally out of our control and knowledge,” said the statement issued by their lawyer in Panama, Guillermina McDonald....
WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country found that the U.S. economy grew at a “slight to modest” pace in September and early October, but also documented many areas of economic activity hobbled by the coronavirus pandemic.
The Fed report made public Wednesday said that the pace of activity varied greatly among sectors of the U.S. economy. Housing demand showed solid gains, helped by very low mortgage rates, but conditions in commercial real estate continued to deteriorate. That sector has been hurt by the closing of thousands of restaurants and other retail establishments.
The report, known as the beige book, said that the outlook among the central bank's business contacts remained generally optimistic but that respondents expressed “a considerable degree of uncertainty” about the future.
“Restaurants in many districts expressed concern that cooler weather would slow sales as they have relied on outdoor dining,” the Fed report said.
It said that banks were also worried about rising delinquency rates in coming months. Analysts are concerned about foreclosures on home mortgages and commercial real estate after support payments for individuals and businesses expired in late July or August.
The report said that while consumer spending, which accounts for two-thirds of economic activity, remained positive, some districts reported a leveling off in retail sales, which could be linked to the expiration of the support programs in the summer.
The Fed survey said that businesses reported only modest price increases with “notable exceptions.” Prices were up significantly for things such as food, autos and appliances, a development that has been linked to shortages stemming from the coronavirus. Prices for personal protective equipment, technology needed for remote...
DETROIT (AP) — Tesla charged through a summertime auto industry sales slump in the U.S. to post stronger-than-expected net earnings for the third quarter.
The electric car and solar panel maker said Wednesday that it made $331 million, or 27 cents per share, for its fifth-straight profitable quarter.
Excluding special items such as stock-based compensation, Tesla made 76 cents per share, beating Wall Street estimates of 57 cents. Revenue from July through September was $8.77 billion, a record that passed analysts' expectations of $6.3 billion, according to FactSet.
But as in previous quarters, the company relied heavily on $397 million it earned from selling electric vehicle credits to other automakers so they can meet government fuel economy and pollution regulations.
The earnings were driven by a 44% increase in global deliveries for the quarter, which came as U.S. auto sales overall fell 9.7% from a year ago due to consumer fears about the economy hit hard by the pandemic.
Shares of the Palo Alto, California, company rose 3% in extended trading Wednesday. Its results were released just after the markets closed. Tesla's shares are worth about five times what they were at the start the year, accounting for a split.
The third-quarter profit was more than double the same period a year ago, when Tesla made $143 million. Its string of profitable quarters reversed years of losses. Through the first nine months of this year, Tesla has made $451 million and appears headed toward its first annual profit.
Jessica Caldwell, executive director of insights for the Edmunds.com auto website, said the company's results and production show it has moved out of rookie territory and may become a mainstream automaker this decade.
But she said the release Tuesday of an all-electric...
AUSTIN, Texas (AP) — The former president of Blue Bell Creameries has been charged with wire fraud for allegedly trying to cover up a 2015 listeria outbreak linked to the company's ice cream that killed three people in Kansas and sickened several others, federal prosecutors announced Wednesday.
A federal grand jury in Austin returned a seven-count indictment Tuesday charging Paul Kruse with six counts of wire fraud and one count of conspiracy to commit wire fraud, according to a Justice Department statement.
Health officials notified Blue Bell in February 2015 that two ice cream products from the company’s flagship factory in the central Texas city of Brenham and its Broken Arrow, Oklahoma, plant tested positive for listeria. The bacterium can cause severe illness or even death in vulnerable groups such as pregnant women, newborns, the elderly and the immuno-compromised.
Blue Bell recalled products after its ice cream was linked to 10 listeria cases in four states, including three deaths in Kansas.
Prosecutors allege that Kruse schemed to deceive Blue Bell customers by directing employees to remove potentially contaminated products from store freezers without alerting grocers and consumers as to why. They say he also directed employees to tell customers who asked that there was an unspecified issue with a manufacturing machine. The company did not immediately recall the products or issue a formal warning to customers about potential contamination.
“American consumers trust that the individuals who lead food manufacturing companies will put the public safety before profits,” said Acting Assistant Attorney General Jeffrey Bossert Clark of the Justice Department’s Civil Division.
Kruse's attorney, Chris Flood of Houston, said he would argue that the indictment came too late under the statute of limitations....
OMAHA, Neb. (AP) — CSX's third-quarter profit fell 14% but the railroad said it handled nearly as many shipments as last year, as volume recovered from the depths of the shutdowns earlier this year.
The Jacksonville, Florida-based railroad said Wednesday that it earned $736 million, or 96 cents per share, in the quarter. That's down from $856 million, or $1.08 per share, a year earlier.
The quarterly profit topped Wall Street expectations. The seven analysts surveyed by Zacks Investment Research predicted earnings per share of 93 cents on average.
But the freight railroad said revenue fell 11% to $2.65 billion in the quarter, which was below the $2.7 billion that analysts expected.
CSX also announced plans to spend $5 billion repurchasing its own shares. Its stock rose 4% in after-hours trading.
CSX said the total volume of carloads it delivered during the quarter was 3% below last year as strong growth in deliveries of shipping containers — known as intermodal shipments — nearly offset weakness in every other category of shipment. During the second quarter earlier this year volume was down 20% as many businesses were shut down.
“We were encouraged by the speed with which volumes recovered from the trough, particularly the strength in the intermodal market,” CSX CEO Jim Foote said. “Fourth-quarter volumes to date are up year-over-year and we all hope for continued positive economic momentum.”
CSX managed to cut its expenses 11% to $1.5 billion even as volume increased sharply during the third quarter. Edward Jones analyst Jeff Windau said its remarkable how well CSX has managed its costs.
“You have to be pretty impressed with the way they have been able to navigate the markets and how nimble they have been,” Windau said.
CSX operates more than...
WASHINGTON (AP) — Negotiations on a COVID-19 relief bill are inching forward, but it's clear the window for action before the Nov. 3 election is closing and the issue will be tossed to a postelection lame-duck session of Congress.
The only thing that seems certain beyond that is uncertainty, with Capitol Hill veterans cautioning against expecting a quick and smooth resolution for an aid package that has tied Washington in knots for months.
Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi spoke again Wednesday but her office signaled no real progress, and she acknowledged for the first time publicly that the measure won't pass before the election.
President Donald Trump's chief of staff, Mark Meadows, accused Pelosi of slow-walking the talks. Trump's most powerful Senate GOP ally, Majority Leader Mitch McConnell, is warning against a costly deal that could drive a wedge between the president and his fellow Republicans.
No one knows whether Election Day will bring much more clarity.
“I’m never very optimistic about the lame duck and I’ve never been surprised,” said Sen. Roy Blunt, R-Mo. “You don’t get near as much done as you think you’re going to get done.”
Those Republicans willing to speculate about a Trump loss in two weeks say not to expect much, either.
“I think Democrats would want to wait until the new president is sworn in and do it then and I think Republicans probably would say ... the economy’s taking care of it,” said Sen. Chuck Grassley, R-Iowa.
At issue is a huge virus relief bill that would send another $1,200 direct payment to most Americans, restart bonus unemployment benefits, fund additional testing and vaccines, provide aid to schools and allocate money to states and local governments, a Democratic priority.
...
Short-video app Quibi said it is shutting down just six months after its early April launch, having struggled to find customers.
The company said Wednesday that it would wind down its operations and plans to sell its assets. “Quibi is not succeeding," its top executives bluntly declared in a letter posted online.
The video platform — designed for people who were out and about to watch on their phones — was one of a slew of new streaming services started to challenge Netflix over the past few years, most of which were part of much bigger tech and entertainment companies, like Apple and Disney.
Quibi, short for “quick bites,” raised $1.75 billion from investors including Hollywood players Disney, NBCUniversal and Viacom and its leadership were big names: entertainment industry heavyweight Jeffrey Katzenberg and former Hewlett-Packard CEO Meg Whitman.
But the service struggled to reach viewers, despite a 90-day free trial, as short videos abound on the internet and the coronavirus pandemic kept many people at home. Part of the appeal of the service, which started at $5 a month, was supposed to be that you could watch short videos while out, without access to a TV. Being stuck at home made TV more desirable than watching on a phone, and Quibi only later and slowly rolled out TV options. Katzenberg blamed the pandemic for Quibi's woes.
Katzenberg’s connections helped line up stars to make and star in its videos, including Reese Witherspoon, Steven Spielberg and Jennifer Lopez. There was a short version of “60 Minutes” and reality shows. The shows never achieved big name recognition, although the platform scored some Emmys earlier this year.
Why did it fail? "Likely for one of two reasons: because the idea itself wasn’t strong enough to justify a standalone streaming service or because of our...
DETROIT (AP) — Fiat Chrysler has hired about 4,100 Detroit residents, and most if not all of them will be employed at a new auto plant on the city’s east side.
The auto giant is obliged to employ at least 3,850 Detroiters at the Mack assembly plant under a development deal with the city for the land where plant is being built. If the remaining 250 workers who have been hired are not employed at Mack, they could be sent to work at any of Fiat Chrysler's other plants in Detroit or the suburbs.
“When Mack comes on line at the end of first quarter next year, we’ll have a better sense of exactly what the solid numbers are related to our facilities in Macomb County, the city of Detroit and other cities,” Fiat Chrysler external affairs manager Ron Stallworth told reporters Wednesday.
Under the $108 million land development deal between Fiat Chrysler and the city, the automaker said it would give Detroit residents first crack at applying for good-paying jobs at its new plant.
Laid-off and temporary Fiat Chrysler workers got to apply first. Detroit residents then were considered before the jobs were opened up to others.
Pay will start at $17 per hour and can climb to $28 per hour, Mayor Mike Duggan said.
About 3,400 of those hired have agreed to fill vacancies at other Fiat Chrysler facilities as supplemental workers at lower pay until the Mack plant opens next year.
When the automaker approached the city about the supplemental workers, Duggan said “that’s jobs for Detroiters. We’ll take that on.”
PHOENIX (AP) — Honda has agreed to a $5 million settlement with Arizona over allegations that it failed to disclose defects in air bags that led to two deaths there, the state's top attorney said Wednesday.
Attorney General Mark Brnovich announced the settlement over the faulty airbag systems manufactured by Takata Corp. and used in certain Honda and Acura cars. Under the agreement, roughly $1.7 million will go toward consumer restitution in Arizona. Another $2.1 million will pay for a gift card program incentivizing owners to get their air bags replaced.
“We estimate more than 40,000 of these dangerous airbags are still on the roads in Arizona, and we are pleading with the owners to get their vehicles repaired immediately," Brnovich said in a statement.
Arizona had declined to be part of a joint $85 million settlement with multiple states awarded in August. That settlement only made payments to the states but nothing for customer restitution, Brnovich's office said.
Like with the multi-state settlement, Honda said it was not acknowledging any wrongdoing by agreeing to the terms in the Arizona case. It asserts the now-bankrupt Takata deceived several automakers about the safety of its airbags. Takata pleaded guilty in 2017 to federal criminal fraud charges.
“The company has thus far replaced more than 16 million defective Takata airbag inflators in its vehicles and made more than 294 million individual attempts to contact owners and urge them to have their recalled Takata airbag inflators replaced,” Honda said in a statement.
Takata used volatile ammonium nitrate to create a small explosion to inflate air bags in a crash. But the chemical can deteriorate over time when exposed to moisture in the air. The explosion can blow apart a metal canister and hurl...
Starting and running a business is often overwhelming, especially for first-time entrepreneurs and employed individuals looking to escape the 8 am-5 pm employment. Most people venture into businesses in a bid to enjoy the freedom and flexibility of not working every day in confined offices, not reporting and adhering to strict rules, and the potential of making endless profits.
photo credit: Christina @wocintechchat.com / Unsplash
Unfortunately, despite the relief brought by starting your own business, the entrepreneurial journey is stressful and challenging. That said, take note of the following factors before starting your small business.
Identify the Nature of the Business
Identifying the nature of your business is the first step to a successful business idea.…
The post Things Entrepreneurs Should Know When Starting Your Small Business appeared first on SMALL BUSINESS CEO.
You’ve spent considerable time putting together niche expertise. This most likely involved supply chain management, competitor research, and market analysis. You’ve even worked on your SEO skills. Meta tags and website organization have quickly become second nature. However, there are five SEO and analytics tips you may not yet be implementing – and you need to.
1. Set up and Use “Google My Business”
As one of the many Google support tools, Google My Business is completely free. You only go through the easy steps of setting up a free business profile to connect to Google Maps, Search, and a variety of other applicable Google properties.…
The post 5 SEO and Analytics Tips Every Business Owner Should Know appeared first on SMALL BUSINESS CEO.
Many people believe that trading is simple and they try to follow the advice is given on the online platform. Although it is the largest financial center in the world, making a profit is not as simple as it seems. A lot of dedication, effort, and practice is required to make a successful career in currency trading.
The virtual industry implies that people from all over the world can access the designated platform but it also requires some level of knowledge before one can make crucial decisions regarding investment. Community plays a big part in Forex because beginners are fond of following such open groups.…
The post Have The Courage To Go Against The Crowd appeared first on SMALL BUSINESS CEO.
The economy was never going to be the same again with the outbreak of the coronavirus. We can all agree that the pandemic has had severe effects on the international economy.
It has negatively affected the stock market and service industries like the travel and hospitality sectors. With all the travel restrictions and lockdowns in most countries, it was ever going to be business as usual. Even some of the most reputable firms have had to lay off workers to cut down costs. Several professional soccer teams had to convince their players to take a pay cut.
Unpredictable Future
If the coronavirus wasn’t enough, the 2020 elections came up to remind us that we aren’t yet done with the year 2020.…
The post The Corona Pandemic and the Heated Election: Which Industries Will Stay Afloat? appeared first on SMALL BUSINESS CEO.
Successful Forex traders work harder from the beginning of their careers. They work smartly and analyze the market a lot. Newbie investors often take greater risks in order to earn more profits, which is not so common among the successful Forex traders.
Professional investors don’t enter a trade until they analyze the trade properly. They study, learn the lessons, practice, follow the strategies, and finally execute them to ensure profits.
Can you be a successful Forex trader?
The greatest difference between an unsuccessful and successful trader is the sense of humor, consciousness, and awareness. To be a successful trader in Hong Kong, you should be dedicated to learning and building up awareness in yourself.…
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Tri-City real estate broker Charles Laird was vacationing in his native Scotland in March when national borders began to close because of the spreading threat of coronavirus. Laird and his family cut their trip short and headed home, a journey that included driving on Interstate 5 through pandemic-stricken Seattle. The chronically congested freeway was all…
The post Market Overview: Covid chaos clouds future of Tri-City real estate appeared first on Tri-Cities Area Journal of Business.
A pandemic, choking smoke and a polarizing national election did little to dampen demand for new and existing homes in the Tri-Cities as the calendar flipped toward the final quarter of 2020. More homes sold for higher prices. Unemployment increased, driven up in part because more people were seeking work. New home construction fell, but…
The post Residential Growth: If Covid can’t slow the Tri-City housing market, nothing can appeared first on Tri-Cities Area Journal of Business.
The Tri-Cities is coming off a banner year for commercial construction. New schools dot the region. A new cold storage warehouse is taking shape in north Pasco. Kennewick’s Vista Field is stocked with utility lines, paved streets, lamps and a water feature, waiting for private developers to build an urban village in the heart of…
The post Commercial Real Estate: Construction industry watching to see how Covid-19 rewrites Tri-Cities’ big plans appeared first on Tri-Cities Area Journal of Business.
Government-funded projects are keeping construction workers busy in Kennewick despite the recession. Multiple commercial and residential projects are underway in every area of the city, and the largest are funded by the city, Benton County, Kennewick School District and Port of Kennewick, said Evelyn Lusignan, the city of Kennewick’s spokeswoman. “Development activity is down from…
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A global pandemic hasn’t slowed progress across the city of Richland as major construction projects wrap up and new ones prepare to break ground. The $43 million Duportail Bridge opened to limited traffic in early September 2020. It is expected to fully open by Nov. 1, 2020, providing a new span across the Yakima River…
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Construction is booming in Pasco. It’s because the city is an incredible value for builders, said Rick White, Pasco’s director of community and economic development. Whether residential, commercial or industrial, Pasco is less expensive to develop than Richland and Kennewick and it promises population growth, he said. With 77,100 residents, the Franklin County seat has…
The post City of Pasco: Affordability still key to record growth appeared first on Tri-Cities Area Journal of Business.
As a city that doesn’t rely on sales tax revenue to fuel much of its budget, West Richland had an unexpected boost from the Covid-19 pandemic: more people began ordering online, sending “destination-oriented” sales tax revenue to the city’s coffers. “When you’re not dependent on sales tax, it’s actually benefited the city,” said Eric Mendenhall,…
The post City of West Richland: City may hold key to Tri-City home shortage appeared first on Tri-Cities Area Journal of Business.
The first months of 2020 welcomed new members to the Port of Benton “We were in the middle of a transition,” said Diahann Howard, executive director for the port, whose jurisdiction includes a population of about 56,050 and a budget totaling $14 million in 2020. Howard, who became executive director in December 2019, hired a…
The post Port of Benton: Critical foundation in place for 2021 projects appeared first on Tri-Cities Area Journal of Business.
Kennewick’s Clover Island. | Courtesy Kim Fetrow Photography/Port of The dust seems to have settled at Port of Kennewick developments — for the moment. Construction of infrastructure and landscaping wrapped up for phase one of Vista Field and two additional wineries and five food trucks have moved in at Columbia Gardens Urban Wine & Artisan…
The post Port of Kennewick: They’ve built it, now they’re ready for them to come appeared first on Tri-Cities Area Journal of Business.
The Port of Pasco’s Processing Center is at capacity, and it has sold all the lots at the Foster Wells Business Park. It’s also moving ahead with plans to develop Osprey Pointe and a new industrial center. The port knows industrial land is in high demand and has been working to accommodate growth in this…
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Improving your customer service has numerous benefits that will benefit your business. Customer loyalty and retention levels will increase over time and this causes a ripple effect that attracts more customers to your brand. A customer-driven business can succeed in the business world because happy customers improve a brand’s reputation.
Increased sales and skyrocketing profits come when customers are happy and satisfied. Read on to learn more about the steps needed to improve your communication and support skills when dealing with customers.
Seeking Customer Feedback
Improving your customer service can be done by seeking customer feedback. Every business dreams of providing the best products and services, so understanding the importance of customer feedback is vital.…
The post Want to Improve Your Business’ Customer Service? Here’s How appeared first on SMALL BUSINESS CEO.
Working remotely has never been a universal process for so many people until now. Therefore, as people adjust to the ‘new normal’ longer term – after the initial transition almost overnight – businesses are asking themselves just what exactly they need to ensure steady progress and growth.
SaaS Software
The very first thing on the agenda for businesses is Saas HR software. Removing the need for users to install anything themselves, cloud-based HR software means that there is no physical housing of data so that you can just set it up quickly and effectively.
However, it also means that the system is fully accessible 24/7, no matter where you are.…
The post 4 Things Your Business Needs to Perform Remotely appeared first on SMALL BUSINESS CEO.
It’s an understatement to say that video is “increasing in demand” in Asia. It’s gone way past being in demand. Today Asia Pacific viewers alone account for over half the total number of digital video viewers GLOBALLY. If you’re a retailer, a brand, or a business looking to tap into the Asian market with videos, this is the perfect time to capture the market. You will need the help of video production agencies in Asia to create stories and visuals that best resonates with the Asian consumer.
So without further ado here’s a list of the top seven video production agencies in Asia that you can reach out to and get help in creating videos that can deliver the best ROI.…
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The customer experience is often considered an intangible, qualitative metric for business owners. However, it has real, quantitative effects on your company.
A good customer experience is reflected in your retention rates, your referrals, and increased spending. In fact, 2019 data from Gartner found that “CX drives over two-thirds of customer loyalty, outperforming brand and price combined.”
While improving the customer experience can grow your revenue, you might not have a large budget to invest in it. Instead of spending more, check out these five unique (and no-cost) ways to improve your customer experience.
1. Build Your Brand Around Their Pain Points
Too often, companies develop marketing materials based on the company and its capabilities.…
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Private equity firms are playing an increasingly important role in helping businesses to navigate and thrive in today’s rapidly evolving markets. Business owners evaluating a new deal or opportunity to work with an investor firm may find themselves having to choose between a fundless or a funded sponsor model.
photo credit: Edmond Dantès / Pexels
Both models have their pros and cons, so it’s important for business owners to closely evaluate their options before they sign a letter of intent. Here are a few considerations to help business owners learn more about the different advantages that potential sponsors have to offer and discover which private equity firm is ultimately right for them.…
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