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AMC Theatres warns of up to $2.4 billion loss, flags 'going concern' doubts

Business / Business News /

AMC Theatres, the world's largest operator of cinemas, warned of losses that could reach up to $2.4 billion in the first quarter and flagged that it might not be able to continue as a "going concern."

The Leawood, Kan.-based exhibitor, which has been expanding in the Los Angeles area in recent years, revealed the potential losses in preliminary...Read more

US job cuts ease in ADP data, suggesting hope for rebound

Business / Business News /

U.S. companies cut payrolls in May at one-third of the forecast pace, a private report showed, offering some hope that the worst of the coronavirus-related hit to the labor market is over.

The 2.76 million decline in business payrolls last month followed a revised 19.6 million decrease in April, according to ADP Research Institute data released...Read more

Comcast rejects calls for outside investigation of NBC's handling of sexual harassment

Business / Business News /

Comcast shareholders, led by Chairman Brian Roberts, rejected three proposals from investors, including a demand for an outside investigation into sexual harassment at NBC News.

The Philadelphia-based cable giant also tossed out shareholder requests to detail its lobbying efforts -- Comcast spent more than $15 million in lobbying in 2018 -- and...Read more

US to halt Chinese airlines' access; domestic carriers rise

Business / Business News /

The Trump administration issued an order suspending passenger flights from China-based airlines, saying it was retaliation for Beijing barring American carriers from re-entering that market, in a continued escalation of tensions between the two nations.

The order issued Wednesday goes into effect June 16 but President Donald Trump can act ...Read more

AMC Theatres has 'substantial doubt' about its future viability because of the pandemic

Business / Business News /

The financial viability of AMC Theatres appears at risk after executives warned investors of "substantial doubt" about the company's ability to continue through the coronavirus pandemic.

With its screens shuttered for months because of the coronavirus pandemic, the Kansas City-based chain has lost practically all revenue. The chain previewed ...Read more

Can sneaker resellers stop looters from profiting?

Business / Business News /

LOS ANGELES -- High-end sneakers and other luxury goods have been targets of choice for thieves amid the unrest in cities across the nation on recent nights, as small groups of troublemakers took advantage of mostly peaceful demonstrations protesting the death of George Floyd, an unarmed black man, while in Minneapolis police custody.

But those...Read more

Tyson reinstates policy that penalizes absentee workers

Business / Business News /

Tyson Foods Inc., the biggest U.S. meat processor, will return to its pre-Covid-19 absentee policy, which includes punishing workers for missing work due to illness, the company confirmed in a statement to Bloomberg.

"We're reinstating our standard attendance policy," Tyson spokesperson Gary Mickelson said in an email. "But our position on ...Read more

Tech Q&A: How to share Windows 10 files with other PCs

Business / Business News /

Q: We have two Windows 10 PCs and would like to share documents and photos between them. On our Windows 7 PCs we would have used the "Homegroup" function, but it's been discontinued in newer versions of Windows 10. As a result, the two PCs can "see" each other on our home network, but they can't share files. What should we do?

-- Gregory Leyes,...Read more

Dental offices trying to reopen show how hard back-to-work can get

Business / Business News /

Seta MacCrory describes herself as a "dental cupid."

She matches up hygienists looking for temporary work with dentists in need of staff through her business, Substitoothfairy, which she runs out of her Delaware County, Pa., home.

Before COVID-19, MacCrory facilitated 300 matches each month. Now that number is close to zero.

On May 8, the ...Read more

Forget 'Sopranos' and 'Game of Thrones': HBO Max's top hits are for kids

Business / Business News /

The HBO network earned a reputation for adult dramas filled with sex and violence, including "The Sopranos," "Game of Thrones" and "Sex and the City." But when its new streaming offshoot launched last week, the buzziest shows were aimed at children.

"Looney Tunes Cartoons," a new take on classic characters Bugs Bunny and Daffy Duck, was the ...Read more

Small rural businesses fight for bailout aid

Business / Business News /

Travis Hogman describes himself as a "small fish" who competes with "just about everybody."

The owner of The Lumberyard in rural, far southwestern Wyoming, squares off with regional rivals like BMC West and heavyweights like Amazon, Lowe's and Home Depot.

"I fight the small-town mentality all the time," Hogman said. "We're always fighting ...Read more

GM will be a leaner company post-coronavirus, Barra says

Business / Business News /

General Motors CEO Mary Barra said the next several weeks are critical for the automaker to rebuild pickup inventory, keep workers healthy and apply a "laser-like focus on our cost structure."

Barra made those comments during a Virtual Fireside Chat with Credit Suisse Tuesday. Joining her on the chat was GM's CFO Dhivya Suryadevara.

GM ...Read more

VW completes $2.6B self-driving deal connected with Ford

Business / Business News /

Volkswagen has finalized a deal that will see it invest the equivalent of $2.6 billion in Argo AI as part of a partnership with Ford to develop self-driving technology.

The news was announced Tuesday.

Ford, in a posting by executive John Lawler, said the arrangement finalized Monday involving the Pittsburgh-based startup would allow the ...Read more

Bank of America announces $1 billion commitment to address racial inequality in midst of pandemic

Business / Business News /

Bank of America is committing $1 billion over the next four years to help communities address economic and racial inequality accelerated by the COVID-19 pandemic.

The bank said the programs will be focused on assisting people and communities of color that have experienced a greater impact from the health crisis. The Charlotte-based bank listed ...Read more

Trump sued over executive order targeting social media companies

Business / Business News /

President Donald Trump's executive order targeting social media companies was challenged in court by a nonprofit group that claims the edict violates free speech protections guaranteed by the First Amendment.

The Center for Democracy and Technology sued in Washington federal court Tuesday, claiming the order is an unconstitutional retaliation ...Read more

Facebook's Zuckerberg defends Trump content decisions to staff

Business / Business News /

Facebook Inc. Chief Executive Officer Mark Zuckerberg told staff at a companywide meeting that he won't change his mind about a decision to leave up posts shared by U.S. President Donald Trump last week that many workers felt violated the company's policies against violent rhetoric.

At an all-hands meeting via video chat on Tuesday, Zuckerberg ...Read more

Amazon delivery drivers say they fear becoming target of looters

Business / Business News /

An Amazon.com Inc. delivery driver in Long Island, N.Y., was told to abandon his van and call 911 in the event of looting and avoid "high crime" areas. A driver in Chicago encountered a heavy police presence and road closures. In Washington, another driver canceled his shifts for the week after seeing video of an Amazon van in Santa Monica, ...Read more

Enbridge says current oil market freefall doesn't alter need for Minnesota pipeline

Business / Business News /

COVID-19's battering of the oil market is a "short-term" disruption that doesn't alter the need for Enbridge's Line 3 pipeline across northern Minnesota, the company told utility regulators in a filing Monday.

Pipeline opponents last month called on regulators to reverse their approval of the $2.6 billion Line 3, saying it was even more ...Read more

One-third of America's record unemployment payout hasn't arrived

Business / Business News /

Almost one-third of unemployment benefits estimated to be owed to the millions of Americans who lost their jobs as a result of the coronavirus slump haven't been paid yet, as flagship policies struggle to cope with the unprecedented wave of layoffs.

The Treasury disbursed $146 billion in unemployment benefits in the three months through May, ...Read more

Some nursing homes get virus aid but don't pay infected workers

Business / Business News /

Renee Morgan, a housekeeper at a nursing home in St. Louis, caught Covid-19 in late April and considered herself lucky. Her case was mild.

Her quarantine wasn't. Morgan, 57, was stunned to learn that her employer, Blue Circle Rehab and Nursing, would not give her sick pay while she was out. She's had to figure out how to cover her bills while ...Read more