• Professional baseball games that aired on national TV during the opening weekend had more than twice as many viewers as a year ago Link
    WSJ Business News Sun 02 Aug 2020 18:44

    The start of the Major League Baseball season, which came more than 100 days later than usual due to the coronavirus pandemic, drew significantly higher TV ratings than it did last year, a boon for sports networks that have had very little live content to run for months.

    Games that aired on national TV during the opening weekend—July 23 to 26—had more than twice as many viewers as a year ago, according to data from the MLB Network. Walt Disney Co.’s ESPN said the first 12 games it aired through late Thursday averaged 1.16...

  • Corporate leaders are changing company operations and resetting assumptions, after having absorbed months of fresh information about how customers act with everyday life often marked by working and staying home, traveling less and social distancing Link
    WSJ Business News Sun 02 Aug 2020 18:14

    Business executives say they are getting a better grip on what a world transformed by the coronavirus looks like, giving them more confidence to lay out strategies that account for the new reality.

    Corporate leaders are changing company operations and resetting assumptions, after having absorbed months of fresh information about how customers act with everyday life often marked by working and staying home, traveling less and social distancing. In response to the emerging environment, businesses are retooling pricing, store...

  • Airlines were barred from laying off or furloughing employees this summer as part of the $25 billion in aid they received under the broad economic stimulus package. Those restrictions lift Oct. 1. Link
    WSJ Business News Sun 02 Aug 2020 03:34

    Airlines are asking the government to again step in with funds to help them prevent tens of thousands of job losses.

    Airlines were barred from laying off or furloughing employees this summer as a condition of the $25 billion in aid they received under the broad economic stimulus package passed in March. Those restrictions will be lifted Oct. 1, and U.S. airlines have outlined furlough plans that could affect over 75,000 pilots, flight attendants, mechanics and other workers when that day comes.

    ...
  • For Microsoft, buying TikTok would mark the boldest in a string of big deals and could reshape a tech giant that has lately thrived by focusing on corporate customers Link
    WSJ Business News Sun 02 Aug 2020 02:53

    For Microsoft Corp. Chief Executive Officer Satya Nadella, buying TikTok would mark the boldest in a string of big deals and could reshape a tech giant that has lately thrived by focusing on corporate customers.

    Microsoft is in talks to potentially spend billions of dollars to acquire the U.S. operations of TikTok, the Chinese-owned video-sharing app, The Wall Street Journal and others reported Friday. The discussions come as President Trump said that he was considering steps that would effectively ban the app from the U.S....

  • Los Angeles Football Club wants to “move everything to face,” while the New York Mets are testing facial recognition on players and staff. Link
    WSJ Business News Sun 02 Aug 2020 02:08

    When sports fans return to watch their teams play live again, many of them may not need a ticket.

    Several pro sports teams, including the New York Mets and the Los Angeles Football Club, are testing facial-recognition technology in stadiums. The idea is to admit fans for entry by authenticating their faces, to make the process as touchless as possible during the coronavirus pandemic.

    Big,...

  • More than 500 photographers around the world took pictures of quarantined families on their front steps, raising over $3 million for different charities Link
    WSJ Business News Sun 02 Aug 2020 01:23

    In early March, Cara Soulia was preparing for a spring filled with photo shoots for local schools. Instead, the family photographer from Needham, Mass., started taking pictures of families quarantined by the coronavirus pandemic, creating a global project that has raised more than $3.25 million for different charities.

    Ms. Soulia had been thinking about how she could document the spreading pandemic and its effect on society, so when Kristen Collins, a friend and business consultant, suggested she offer to photograph local...

  • For all of Elon Musk’s complaining about the handling of the pandemic, Tesla is shaping up as one of the biggest business winners of the Covid-19 era. Link
    WSJ Business News Sun 02 Aug 2020 00:48

    For all of Elon Musk’s public complaining about the handling of the pandemic, Tesla Inc. is shaping up to be one of the biggest business winners of the Covid-19 era.

    After years of losses that made many investors wonder if the Silicon Valley car maker could ever operate in the black, Tesla has sustained a profit through one of the worst economic shocks in history, helped in part by the sale of regulatory credits. It is expanding rapidly at a time when larger rivals are losing money and cutting production, even as they chase...

  • How Coronavirus Is Hitting Small Businesses Near You Link
    WSJ Business News Sun 02 Aug 2020 00:13
    54% of small businesses across the U.S. are at risk of financial difficulty in the next year. Use this interactive tool to see how small businesses in your area are faring.
  • Grocers, retailers, nursing homes, meatpacking plants: All are being sued by the families of employees who died of Covid-19 Link
    WSJ Business News Sun 02 Aug 2020 00:13

    Employers across the country are being sued by the families of workers who contend their loved ones contracted lethal cases of Covid-19 on the job, a new legal front that shows the risks of reopening workplaces.

    Walmart Inc., Safeway Inc., Tyson Foods Inc. and some health-care facilities have been sued for gross negligence or wrongful death since the coronavirus pandemic began unfolding in March. Employees’ loved ones contend the companies failed to protect workers from the deadly virus and should compensate their family...

  • Stock splits have all but disappeared from corporate playbooks, even though history shows shares of companies that split their stock often see a bump in price Link
    WSJ Business News Sat 01 Aug 2020 23:43

    Stock splits have all but disappeared from corporate playbooks, even though history shows shares of companies that split their stock often see a bump in price.

    Stocks in the S&P 500 tend to rise 5% in the year following share splits, including 2.5% immediately following the announcement, according to research from Nasdaq Inc. on splits between 2012 and 2018.

    “Splits...

  • David Cote has had a long and successful career at GE, Honeywell, and now, Vertiv. But first he had to shake his reputation as a “general troublemaker” and focus his ambition. Link
    WSJ Business News Sat 01 Aug 2020 23:13

    In Personal Board of Directors, top business leaders talk about the people they turn to for advice, and how those people have shaped their perspective and helped them succeed. Previous installments from the series are here.

    David Cote led a legendary turnaround of Honeywell International Inc. over 15 years, but it took him a long time to find his path to success.

    Growing...

  • The coronavirus pandemic is ratcheting up problems for the oil giants, which were already struggling to attract investors on concerns over the future for fossil fuels Link
    WSJ Business News Sat 01 Aug 2020 22:53

    Big oil companies endured one of their worst second quarters ever and are positioning themselves for prolonged pain as the coronavirus pandemic continues to sap global demand for fossil fuels.

    Exxon Mobil Corp. posted a quarterly loss for the second straight quarter for the first time this century on Friday, reporting a loss of $1.1 billion, compared with a profit of $3.1 billion a year ago. Exxon, the largest U.S. oil company, hadn’t reported back-to-back losses for at least 22 years, according to Dow Jones Market Data,...

  • Talks for Microsoft to buy TikTok’s U.S. operations have been paused as companies seek clarity from the White House Link
    WSJ Business News Sat 01 Aug 2020 22:28

    Microsoft Corp. has paused negotiations to buy the U.S. operations of the video-sharing app TikTok after President Trump said late Friday he opposed the deal, according to people familiar with the matter.

    The president’s statements spurred TikTok to make additional concessions, including agreeing to add as many as 10,000 jobs in the U.S. over the next three years, but it isn’t clear if those will alter Mr. Trump’s stance, one of the people said. The founder of TikTok parent Bytedance Ltd., Zhang Yiming, also agreed to sell...

  • Fashion entrepreneur Josie Natori is back in the office—but only a handful of colleagues are there. Link
    WSJ Business News Sat 01 Aug 2020 22:13

    Josie Natori is back in the office, but most of her staff isn’t.

    The founder and chief executive of women’s apparel company Natori Co. returned to her office on Madison Avenue in New York City in early June. Few others have returned to the business’s midtown Manhattan neighborhood—or Natori’s 50-person office and showroom. Cleaning crews have continued to maintain the premises, and mail and packages are being delivered, but the building’s lobby and halls are empty.

    ...
  • Heard on the Street: Prime Day and iPhone shifts could mean a $100 billion sales quarter for each tech giant. Link
    WSJ Business News Sat 01 Aug 2020 21:43

    The pandemic may have forced Apple Inc. to delay its big iPhone launch by a few weeks, but there is a silver lining in this particular cloud.

    During its fiscal third-quarter earnings call on Thursday, Apple confirmed that this year’s crop of flagship iPhones will launch a few weeks later than the normal late September window. This counts as a major disclosure from a company that normally doesn’t breathe a word about future products, though it was also Apple’s worst-kept secret by this point. The Wall Street Journal reported...

  • “There is going to be a new normal,” says Pernod Ricard’s North American chief. “But a lot of that new normal is going to be based on stuff we still don’t know.” Link
    WSJ Business News Sat 01 Aug 2020 20:43

    Ann Mukherjee became chairman and chief executive of Pernod Ricard SA’s North American business in December. Four months later, the coronavirus pandemic had shut bars and restaurants around the globe. And she quickly learned a lesson: When the facts on the ground are changing every day, it can be a mistake to prepare for an uncertain future too soon.

    Ms. Mukherjee, who was born in India and raised in the U.S., now lives in Dallas, where she has witnessed the pandemic’s whipsaw effect on business as Texas Gov. Greg Abbott opened...

  • Online sales tactics used by some foreign merchants have been brought into focus after the Agriculture Department said packages of seeds that appear to be coming from China are potentially part of a brushing scheme. Link
    WSJ Business News Sat 01 Aug 2020 20:13

    Questionable online sales tactics used by some foreign merchants have been brought into focus after the federal government said this week that mysterious seed packages postmarked from China may be an e-commerce scam.

    The U.S. Agriculture Department said that “suspicious, unsolicited packages of seed that appear to be coming from China” are potentially part of a brushing scheme. In such a scheme, sellers or their accomplices ship out packages containing lightweight goods of trivial value, which can then be used to log fake...

  • 10% of small-business owners in the U.S. are Latino immigrants. Why did only 29% of them apply for government aid when the pandemic hit? Link
    WSJ Business News Sat 01 Aug 2020 19:43

    In the U.S., 10% of small-business owners are Latino immigrants. When the pandemic hit, wreaking havoc on small businesses around the country, only 29% of those owners applied for assistance from the government.

    That’s in contrast to nearly 80% of small businesses overall who have applied for aid.

    The discrepancy reflects the particular...

  • With movie theaters closed and production paused for the foreseeable future, some people in the movie industry are asking why AMC and Universal decided this was the moment to make such a dramatic change Link
    WSJ Business News Sat 01 Aug 2020 19:13

    A historic distribution agreement between AMC Entertainment Holdings Inc. and Hollywood studio Universal Pictures is sowing discord and confusion in an industry already reeling from the coronavirus pandemic.

    AMC, the world’s largest theater chain, and Universal agreed to shrink the time between a movie’s opening in theaters and when customers can rent it to watch at home—to just 17 days, from 75. The two companies had been at public loggerheads over the issue of when to release movies for home viewing just a few months ago....

  • Kodak Executive Chairman Jim Continenza stands to make more than $95 million from stock options granted as recently as Monday. Link
    WSJ Business News Sat 01 Aug 2020 18:43

    A sudden surge in Eastman Kodak Co.’s stock this week has turned a bunch of money-losing executive stock-option grants made in the past two years—including some made on Monday—into a sudden personal windfall for the company’s executive chairman.

    On Tuesday, Kodak and the U.S. government announced a preliminary agreement under which the firm would receive a loan to produce drug ingredients. The news has since led the one-time photography giant’s share price to more than triple.

    ...
  • About 44% of workers have at least two bosses. And it can be a huge pain. Link
    WSJ Business News Sat 01 Aug 2020 18:13

    Working for one boss is hard enough. Working for two can double your job headaches.

    About 44% of U.S. employees work for at least two managers, a 2017 Gallup survey found. Office shutdowns and job losses caused by the coronavirus pandemic likely will widen the practice’s usage. Amid today’s deep downturn, many companies may insist that those who escape layoffs handle dual duties and bosses, workplace experts predict. And, with more employees working from home, the pre-pandemic trend of remote workers belonging to more teams...

  • More than 500 photographers around the world took pictures of quarantined families on their front steps, raising over $3 million for different charities Link
    WSJ Business News Sat 01 Aug 2020 17:43

    In early March, Cara Soulia was preparing for a spring filled with photo shoots for local schools. Instead, the family photographer from Needham, Mass., started taking pictures of families quarantined by the coronavirus pandemic, creating a global project that has raised more than $3.25 million for different charities.

    Ms. Soulia had been thinking about how she could document the spreading pandemic and its effect on society, so when Kristen Collins, a friend and business consultant, suggested she offer to photograph local...

  • Los Angeles Football Club wants to “move everything to face,” while the New York Mets are testing facial recognition on players and staff. Link
    WSJ Business News Sat 01 Aug 2020 17:18

    When sports fans return to watch their teams play live again, many of them may not need a ticket.

    Several pro sports teams, including the New York Mets and the Los Angeles Football Club, are testing facial-recognition technology in stadiums. The idea is to admit fans for entry by authenticating their faces, to make the process as touchless as possible during the coronavirus pandemic.

    Big,...

  • Airlines were barred from laying off or furloughing employees this summer as part of the $25 billion in aid they received under the broad economic stimulus package. Those restrictions lift Oct. 1. Link
    WSJ Business News Sat 01 Aug 2020 16:58

    Airlines are asking the government to again step in with funds to help them prevent tens of thousands of job losses.

    Airlines were barred from laying off or furloughing employees this summer as a condition of the $25 billion in aid they received under the broad economic stimulus package passed in March. Those restrictions will be lifted Oct. 1, and U.S. airlines have outlined furlough plans that could affect over 75,000 pilots, flight attendants, mechanics, and other workers when that day comes.

    ...
  • How Coronavirus Is Hitting Small Businesses Near You Link
    WSJ Business News Sat 01 Aug 2020 16:38
    54% of small businesses across the U.S. are at risk of financial difficulty in the next year. Use this interactive tool to see how small businesses in your area are faring.
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