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    CHICAGO (CBS) — Fighting for more hours, bars and restaurants still have to close at midnight with last call for drinks at 11 p.m. Those restricted hours are particularly difficult for late night spots with special hour licenses. Many have had to totally change their business models on top of fighting to stay in business. Bijan’s Bistro in River North has been a late night spot for 30 years, open 23 hours a day, 365 days a year. That is what they were known for, so when they were no longer allowed to serve, per their late hour license, everything had to change. Manager Arthur Gerhardt said Bijan’s Bistro’s late hour liquor license here was put to good use every night of the week for years. “Micheal Jordan and a couple Bulls players would be hanging out in here on a Friday night or Saturday night,” he said. “People used to...
    Annie Murphy drove up to Goodwood after "Schitt's Creek" wrapped for a stroll and a butter tart at Annina's Bakeshop & Cafe. PopTV/Annina's Bakeshop Annina's, a bakery in the real town where "Schitt's Creek" was filmed, has Alexis Rose's approval. Annie Murphy, who plays Alexis on "Schitt's Creek," called it the "best bakery" in an interview. Her comments helped the Goodwood, Canada, bakery stay in business throughout the pandemic. Visit Insider's homepage for more stories. Goodwood, the real town in Ontario where "Schitt's Creek" was filmed, might not have Twyla's Café Tropical, but it does have Annina's Bakeshop & Cafe. And Annie Murphy, who plays Alexis Rose, is a very vocal fan of the store and its baked goods.  Murphy gushed about Goodwood, and Annina's specifically, during an appearance on "Late Night with Seth Meyers" in August a few months after the final season of "Schitt's Creek"...
    PALO ALTO, Calif. (KGO) -- Ada's Café in Palo Alto is not your typical café. It's a nonprofit that trains and employs people with disabilities. Like many businesses, the pandemic has taken a devastating toll on the very special café.It just reopened after three separate closures during the past year, but it needs your help to stay afloat. That's why community members are holding an auction, live now through February 28.Kathleen Foley-Hughes opened the café in 2014, inspired by her son Charlie who has a developmental disability.Kathleen's vision is to create a space where people with disabilities can have a place to work and to belong, a place for employment and empowerment.The workers' disabilities include traumatic brain injuries, Down syndrome, autism spectrum disorders and more. For them, finding employment and a community is a challenge.Ada's Cafe has won many community impact awards for the difference it's making in the lives...
    The chairman of XPrize - who also founded a vaccine firm - hosted a 100-strong 'superspreader' conference with global business executives in breach of a stay-home order in place at the time - before failing to report a string of positive cases. Peter Diamandis held the indoor, mostly maskless gathering in Calver City, California with business leaders from as far away as Israel, Hawaii and Vancouver on January 24 - when local IC units were running at full capacity.  The 59-year-old, a co-founder and board member of the COVID vaccine developer Covaxx admitted to MIT Technology Review that at around 21 to 24 people tested positive for the virus after the event, including himself.  Diamandis, founder of the XPrize Foundation, hosts the annual Abundance 360 Summit or 'A360' for wealthy 'patrons' paying $30,000 subscriptions to hear him discuss a series of his favourite topics, including AI, longevity, exponential growth, synthetic biology and...
    Vanessa Bisorca loves her life as a stay-at-home mom to two teenage children. She also loves fashion. In 2015, the lifelong bargain shopper decided to sell some clothes from her closet to pocket extra cash and make room for new items. Bisorca, 38, downloaded the fashion e-commerce app Poshmark and listed a few pieces of clothing. She made her first sale the same day. A few months later, Bisorca was hit with a large medical bill leaving her feeling hopeless. That's when she decided to turn her hobby into a real source of income. Her husband, Cris Bisorca, 43, helped her file for a business license, and they spent $500 to expand inventory beyond what was in their closet. Now the fashion boutique, Moda Me Couture, makes over six figures per year and is operated solely by Bisorca and her family. Check out this video to learn more about Bisorca's...
    KOREATOWN (KABC) -- Jared Jue and Alice Han launched MAMA's Drive-by Kitchen in May."Mama is actually a platform to preserve immigrant culture through restaurants, food and different cuisines," said Jue."We just started seeing the community hurt so much, you know, during the pandemic and then when we were on lockdown you see all these restaurants start slowly closing down," said Han.They choose one or two restaurants to highlight for one week and create a limited menu from the restaurant to help customers pre-order."Then people can pick it up across L.A. at our different locations on Sunday," said Jue.They recently featured the restaurant Hwang Hae Doe in Koreatown.The 20-year-old spot, owned by Sunyi Chae, is known for Korean barbeque and their take on a Vietnamese spring roll."This last year was so hard for her. She just wants to work harder and just make sure that people are fed. Even though it's...
    BOSTON (CBS) – The 9:30 p.m. coronavirus curfew for Massachusetts businesses is no more. Bar and restaurant owners around Boston are breathing a sigh of relief that Governor Charlie Baker is relaxing COVID-19 restrictions and lifting the stay at home advisory. Jeff Baird owner of The White Bull Tavern near Faneuil Hall is looking forward to bringing some staff back. “We’re all excited because this is a late night business you know,” Baird said. “I’d say about 75% of our business was from nine o’clock on so the curfew really hurt more than the capacity,” Baird added. Starting Monday, business including bars, restaurants, liquor stores, movie theaters and casinos can stay open past 9:30. They still have to keep their capacity at 25%. “Businesses, restaurants are not where a significant amount of the spread is happening,” said Tufts Medical Center Epidemiologist Dr. Shira Doron. Doron does not oppose...
    NEW YORK (CBSNewYork) – In a year like no other, restaurants around the city are struggling to stay in business. There are hopes that the annual Restaurant Week will give them a much-needed boost, but it won’t be business as usual. As CBS2’s Hazel Sanchez reports, Neir’s Tavern in Woodhaven, Queens has been a popular watering hole for more than 190 years. You may have seen it featured in the classic film Goodfellas. But owner Loycent Gorden says even its storied history isn’t enough to save it from the financial struggles of the pandemic. More: NYC Ready For First Of Its Kind Restaurant Week To-Go “Whether you open up 191 years or one year, we all are going through the same struggle,” he said. A record 570 restaurants across the five boroughs are taking part in NYC & Company’s 29th annual Restaurant Week. Many are barely making ends meet without indoor dining and...
    A Michigan café is defying the state’s strict lockdown orders in a battle to keep their business alive. Café Rosetta was started in 2013 by Amy Heikkinen, a single mother who was looking for work. Heikkinen told the Daily Caller that the café lost 40% of its revenue when the first lockdowns went into effect. Democratic Michigan Gov. Gretchen Whitmer implemented restrictions in November that shut down indoor dining. At that point, “We looked at our books and were already in pretty rough shape,” Heikkinen told the Caller. “So we figured well, we either close down now or later. And here we are. Still open.” (RELATED: Gov. Gretchen Whitmer Extends Partial Lockdown In Michigan) Heikkinen is in the middle of a legal battle challenging a ruling from a circuit court ordering her to close her doors. Read about Café Rosetta owner Amy Heikkinen’s fight for survival in today’s @WSJ: https://t.co/Ws5me0kagx...
    A Michigan restaurant owner defying shutdown orders from Gov. Gretchen Whitmer’s (D) administration told The Kyle Olson Show this week that she is facing $30,000 in fines and legal fees as a result. Amy Heikkinen, owner of Cafe Rosetta in Calumet, was recently taken to court by the state after she kept open her business. She said could not survive the ongoing coronavirus lockdown mandates. “Sales were down 25-30 percent already,” she said, and with only take-out orders allowed, there was another 30 percent decline. Her margin for profit, she said, was 10 to 15 percent, and “It was either we were going to close down then or close down later, so we decided to take a stand and fight for this.” Heikkinen said her restaurant has had no cases of the coronavirus, the story of most eating establishments in the state. Yet, the governor has repeatedly targeted them...
    SACRAMENTO (CBS13) — The reopening announcement Tuesday surprised Sacramento-area business owners who were bracing for another month of the stay-at-home order given the number of coronavirus cases. “It’s definitely impacted us, it was a struggle for sure,” said Keela Hudson-Ali who owns Keela Hair Co. She has been in business for seven years. “We have extensions, wigs, hair color,” Hudson-Ali said. She didn’t know the most recent stay-at-home order had been lifted until this morning. “I found out on Instagram. And people were like ‘we get to open!’ I immediately came to the shop and we had tarp up and I was like oh my God my heart dropped and I literally grabbed the tarp and took it down and sent a text to all the ladies her,” she said. She says it was unexpected and without warning, sort of the way the entire reopening and reversals have been handled...
    SAN FRANCISCO (KGO) -- Many San Francisco business owners are hoping city officials will intervene after an increase of burglaries city-wide are causing small businesses to pay for damages during an already tough time.A popular set of restaurants on the Embarcadero are facing $10,000 in damages after a recent burglary."A whole bunch of outdoor heaters that were attached to umbrellas that were vandalized and some of them stolen. At Epic we actually had a break-in," said Pete Sittnick, Managing Partner of Waterbar and Epic Steak.RELATED: San Francisco businesses boarding up in fear of burglaries during shelter-in-placeGraffiti on their outside wall marks the night they realized their recent burglary will cost them close to thousands of dollars in damages. Another setback to add to the bill."We are losing about $50,000 per restaurant per month," said Sittnick.Epic Steak is not alone. Just a day ago, Amelie, a Wine Bar in Polk Street...
    ^ Keep Westword Free Support Us I Support Local Community Journalism Support the independent voice of Denver and help keep the future of Westword free. Support Us Two restaurants in Uptown operated by Aileen Reilly, chef Paul Reilly and JP Taylor are closing temporarily, joining many other eateries that are taking weeks — or the entire winter — off. "After much consideration, we have made the decision to temporarily close both Beast + Bottle and Coperta," Paul Reilly wrote in an email announcing the move. "The current restrictions are just not sustainable, and for the health of our long-term business, we are hibernating the restaurants until indoor dining, guest confidence and a more plausible stimulus package are in place." Congress passed a new stimulus package before Christmas, and President Donald Trump finally signed it on December 28, so the Paycheck Protection Program that helped restaurants reopen...
    Turkuaz plays Crowbar in Ybor City, Florida on April 26, 2019.Yvonne Gougelet Against all reasonable odds, a diehard group of about 40 independent venue owners and promoters marshalled their energies and got a $15 billion provision included in the $900 billion pandemic relief package that was approved by Congress a few days ago. It’s called the Save Our Stages Act, and it just might do what its name promises. These people, who became instant lobbyists and called themselves “The Fuckers,” did the heavy lifting on behalf of a larger organization, the National Independent Venue Association (NIVA), which hastily formed just a few weeks after the coronavirus shut down live entertainment. It looks like The Fuckers’ efforts will save many of the small, for-profit venues that have been hanging on by their fingertips for the last several months. The bill also provides much-needed funds for mid-size venues, promoters, theatrical producers, and...
    One of the last fresh produce stands in Santa Clara Valley may be closing, but not by choice. Cornucopia, the little white building with hand-painted cherry and strawberry signs, has been a fixture in Los Gatos for over 40 years. The triangular property on the corner of Winchester Boulevard and Highway 85 has been put up for sale, but Connie Norman’s stand may be allowed to stay open if the new owners grant her request. Norman is as cheerful as ever, selling Christmas trees while explaining to her customers that she may be shutting down. It is bittersweet, but it’s been fruitful run. “It’s been a wonderful lifestyle,” Norman says. Norman and her husband, Bill, opened Cornucopia in 1976, looking for a lifestyle change. “My husband and I worked in the semiconductor industry,” she says. “There were some big layoffs in the 1970s, and that’s when we decided to start...
    By: KDKA-TV News Staff PITTSBURGH (KDKA) – The Allegheny County Health Department is considering new capacity limits on businesses as coronavirus cases continue to surge. Allegheny County Executive Rich Fitzgerald says the health department is eyeing the restrictions as the county reported a two-day total of 1,470 new COVID-19 cases Monday. BREAKING: Struck with an alarming number of new Covid cases (1,470 announced today) Co. Exec. Fitzgerald says @HealthAllegheny is considering new capacity limits on businesses. New measures expected to be revealed today or tomorrow. @KDKA — Andy Sheehan (@AndySheehankdka) December 7, 2020 New measures could be revealed Monday or Tuesday. Statewide, Pennsylvania’s percent positivity for Nov. 27 through Dec. 3 jumped to 14.4% compared to 11.7% the week before. Last Thursday, Allegheny County reported more than 1,000 new coronavirus cases for the first time since the pandemic started, with Allegheny County Health Department Director...
    OAKLAND, Calif. (KGO) -- Many businesses in the East Bay had hoped they'd have a week or two before shutting down under California's new coronavirus guidelines. They were stunned to hear they only have until Dec. 6 because county health departments decided to move forward with a shelter-in-place order pre-emptively.RELATED: 5 Bay Area counties enacting stay-at-home order starting Sunday, not waiting for state's timelineThe decorations may be festive, but the mood is anything but that at an Oakland nail salon.Owner Michelle Saunders James said tearfully, "I guess the only option is to cease business. I don't know what else to do. I am upset. It's just very hard because we worked so hard to keep everyone safe."They had just reopened five weeks ago.Saunders James emphasized, "We wear shields. We take temperatures. We do everything we are told to do so everyone feels safe, including our staff and team. So I...
    SACRAMENTO (CBS13) – California’s looming COVID-19 restrictions based on regional intensive care unit capacities are reigniting an effort to recall Governor Gavin Newsom. According to CBS 13, many Sacramento area business owners are now backing the push for a recall. The campaign was born in June of this year and now has half of the signatures it needs to call for a special election by March. Small business owners said Newsom’s latest decision was the last straw. >>Read more at CBSSacramento.com
    New York City restaurateurs are concocting novel ways to drum up business during the holidays, even as a looming COVID-19 lockdown threatens to shutter their venues citywide for the second time this year. The Tao Group — which was forced to close many of its high-profile hangouts this spring because of the pandemic — is now offering “virtual holiday parties” after Mayor de Blasio warned last week that another lockdown is likely to slam restaurants “within the next week or two.” That means live, private cooking classes online not only for easy, no-fuss dishes like Tao’s lobster guacamole but also more complicated creations like chicken parmigiana and homemade pasta. There’s even a fortune-cookie baking class, said TAO Group partner Paul Goldstein, who oversees the virtual program. “One family asked for a virtual cooking class to learn how to make a full Chinese meal, with a Q&A from the chef,”...
    New York City restaurateurs are concocting novel ways to drum up business during the holidays, even as a looming COVID-19 lockdown threatens to shutter their venues citywide for the second time this year. The Tao Group — which was forced to close many of its high-profile hangouts this spring because of the pandemic — is now offering “virtual holiday parties” after Mayor de Blasio warned last week that another lockdown is likely to slam restaurants “within the next week or two.” That means live, private cooking classes online not only for easy, no-fuss dishes like Tao’s lobster guacamole but also more complicated creations like chicken parmigiana and homemade pasta. There’s even a fortune-cookie baking class, said TAO Group partner Paul Goldstein, who oversees the virtual program. “One family asked for a virtual cooking class to learn how to make a full Chinese meal, with a Q&A from the chef,” Goldstein...
    NEW YORK (CBSNewYork) — Many New York City business owners are on edge as the possibility of another shutdown looms. The city reported 118 new COVID-19 hospitalizations and more than 1,300 new cases Saturday. The infection rate for the seven-day average is 3.11%. Mayor Bill de Blasio says this weekend is critical if we are to avoid another round of restrictions. CORONAVIRUS PANDEMIC Explanation Of N.Y.’s Yellow, Orange, Red Zones (.pdf) Health Experts Stress Need To Fight ‘Mask Exhaustion’ Tri-State Area Coronavirus Travel Advisory List CBS2’s Dr. Max Answers Your Health Questions Resources: Unemployment, Hunger, Mental Health & More Remote Learning Tools For Parents Teaching At Home Complete Coronavirus Coverage Owners of salons are troubled by the city’s rise in coronavirus cases. “We are concerned. The whole business community is concerned,” said Frank Arcabascio, owner of Redken Saloon Salon in Astoria. A higher than 3% positivity rate citywide...
    Thanksgiving travel 2020: Pandemic hangs over every decision Trumps embarrassing, incompetent, humiliating, very sad coup The 23 Hottest Gifts of 2020 Ad Microsoft Full screen 1/23 SLIDES © GoSun A solar-powered appliance startup built a $69,500 tiny home that can stay off grid for a month in a pivot to the tiny living trend — see inside 'Dream' Solar powered appliance maker GoSun has unveiled its first tiny home on wheels: the off-grid capable $69,500 GoSun Dream, which will be available next year. The Dream can stay off-grid for a month — depending on local conditions — with the help of its power systems, which includes solar panels. According to GoSun's founder and CEO Patrick Sherwin, this...
    MIAMI (CBSMiami) – Cases of COVID-19 continue to surge across our country. While some states are on lockdown, Romain Zago, the owner of Mynt Lounge in Miami Beach said they have been struggling.  “There is no help yet from the government. There is no coming back if we shut it down,” said Zago. While Florida Mayors are calling for Governor Ron Desantis to do more to fight COVID-19, Zago said they have gone the extra mile to make sure their night club is safe for the public. “People are not wearing masks in house parties but they are in nightclubs. We have a prepared AC, prepared manager to enforce those protocols and the hygiene to really keep the place as clean as possible,” said Zago. Meanwhile, over to Coral Gables, Rafael Almendral the co-owner of Red Koi restaurant said since the beginning of the pandemic they were barely making the...
    BELLEVUE, Pa. (KDKA) — Business owners in Allegheny County say they are already feeling the impact of the stay-at-home advisory issued by the Allegheny County Health Department. The advisory was issued on Wednesday and asks people to only leave home for essential activities and to cancel private gatherings. It does not ask businesses to close, but some feel the advisory still presents some unique challenges. Miya Gossett, a manager at Lincoln Avenue Brewery in Bellevue, says it’s difficult to know how many customers to expect or how much food to order when customers are asked to stay home. But the business remains open. “We really don’t know what it’s going to look like for business,” she said. Those concerns quickly became a reality on Wednesday night, just hours after the advisory went into effect. Lincoln Avenue Brewery was hosting what is normally a very busy burger night. (Photo Credit: KDKA)...
    Sinner becomes youngest player in 12 years to win ATP title Thanksgiving recipes for a small gathering Small toy stores are worried they wont stay in business after this year The winter holidays are typically the busiest, and most successful, time of the year for Erin Blanton, the owner of Pufferbellies toy store in Staunton, Virginia. © Susan Felton Pufferbellies toy store in Staunton, Virginia. Around a quarter of Pufferbellies' annual sales come between Thanksgiving and Christmas, when shoppers, she said, "come out of the woodwork" to buy Legos, snow globes, puzzles, playing cards, stuffed animals and other gifts for their family and friends. Load Error But Blanton, who runs the store with her mother and has five employees, is more concerned about this holiday season than she has ever been in Pufferbellies' 15 years in business. Sales are constrained by restrictions on the number of customers allowed...
    New York (CNN Business)The winter holidays are typically the busiest, and most successful, time of the year for Erin Blanton, the owner of Pufferbellies toy store in Staunton, Virginia.Around a quarter of Pufferbellies' annual sales come between Thanksgiving and Christmas, when shoppers, she said, "come out of the woodwork" to buy Legos, snow globes, puzzles, playing cards, stuffed animals and other gifts for their family and friends.But Blanton, who runs the store with her mother and has five employees, is more concerned about this holiday season than she has ever been in Pufferbellies' 15 years in business.Sales are constrained by restrictions on the number of customers allowed inside her 1,900 square-foot shop at time in the pandemic -- Blanton puts a pink flamingo outside the store when it's at full capacity. Pufferbellies can't hold holiday events in the store this year, a key sales driver, and some of her suppliers...
    SAN FRANCISCO (KGO) -- A recent survey of 1,600 small business owners in San Francisco found that 80% of them want to continue operating outdoors and 90% said these shared outdoor spaces have kept them from closing permanently. The survey is being conducted by the city of San Francisco.Far East Café in San Francisco's Chinatown has benefited from the temporary curbside dining structure that they are allowed to put up only on weekends. Now they are asking the city for a grant to build a more permanent one so they can operate outside seven days a week."Recently the weather and everything, it brings up a lot of business to come back to Chinatown," expressed Bill Lee, Owner of Far East Cafe.RELATED: $5,000 in grant money being offered to help small businesses in SJ, SF gear up for winterThe city is putting up $1.6 million in grant funds to help businesses...
    A Bergen County restaurant that opened in 1991 is going out of business. Golden Dynasty in Hillsdale is open for takeout only until Nov. 2, when it will close its doors for good. The restaurant was listed for sale last May, but it is unclear if it ever sold. "It has been our pleasure to be part of the community for almost 30 years, Golden Dynasty said in a Facebook post.  "So many of you have become our family over the years. We are so grateful to have been able to reopen this past month and stay open for the rest of October. As much as we would love to stay open forever, some owners have wanted to retire since early this year. We have thought long and hard about this decision and believe it’s for the best." The posts garnered dozens of comments from customers lamenting the news. "I have...
    (Bloomberg) – Samsung Electronics Co.’s leadership in smartphones waned in the second quarter, reaching a “virtual tie” with Huawei Technologies Co., according to figures released by research company Gartner on Tuesday. The global device market contracted 20.4% compared to the same period last year, as COVID-19 quarantines hurt demand, but there was a quarter-on-quarter recovery in China, Gartner said. Samsung’s 27% year-on-year drop in sales was the worst of the top five manufacturers, which along with Huawei also include Apple Inc., Xiaomi Corp. and BBK Electronics Corp.’s Oppo. Original Note: Huawei Closes Gap With Samsung Amid Global Phone Slump: Chart bloomberg.com“data-reactid =” 21 “> For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. “data-reactid =” 22 “> Subscribe now to stay ahead with the most trusted business news source. © 2020 Bloomberg L.P.
    Rep. Jamie Raskin (D-MD) speaks during a House Select Subcommittee on the Coronavirus Crisis hearing on July 31, 2020 in Washington, DC. the virus.Erin Scott | Pool | Getty Images A federal coronavirus small-business loan program has helped millions of companies stay afloat during the pandemic, but may have also sunk billions of dollars on "fraud, waste, and abuse," House Democrats said Tuesday. The conclusion from majority staff on the House coronavirus subcommittee came in a new report on the Paycheck Protection Program, a key piece of the more than $2 trillion bipartisan stimulus law signed into law by President Donald Trump earlier this year. Trump signed off on additional funding for the program in April, giving it a total of about $670 billion. As the Covid-19 crisis rages on, Democratic lawmakers and the White House are at an impasse over the details of another relief bill that would replenish funds...
    ANN ARBOR, Mich. (AP) — Perry Porikos sat in the street outside one of his five businesses, in a makeshift patio area that didn’t exist before the COVID-19 pandemic sent his best customers — University of Michigan students — back home in mid-March. The Greek immigrant arrived here more than four decades ago as a 20-year-old soccer player for the Wolverines and part-time dishwasher at The Brown Jug Restaurant, which he now owns. He nonchalantly dropped names of sports stars like Tom Brady and Michael Phelps, two of the many former Michigan students he counts as friends, and recalled hustling enough to own more than 10 businesses at one time. “Living the dream that people talk about, especially if you live in Europe and you come here,” Porikos said, “I am the dream.” Lately, though, it has been difficult for Porikos to rest easy. And he’s not alone. Both the...
    BRIGHTON (CBS) – Brato Brewhouse & Kitchen opened its doors in late October of 2019. “We finally sort of took a breath in early March, late February, thinking we had finally gotten to a sturdy ground and righted the ship, and then, of course, COVID hit,” co-founder and Chef Jonathan Gilman explained. Ever since, they’ve been adjusting their plans and, as of this week, offering a microbakery during the day from 8 a.m.-3 p.m. before the Brewhouse opens at 4 p.m. “One of the beauties of the microbakery is the fact that this would be allowed even in the most severe lockdowns that we saw during March. Because it is a retail and takeout operation, it allows us to sort of have that element going throughout,” Gilman said. Brato Brewhouse & Kitchen’s Jonathan Gilman has started a microbakery at his brewery. (WBZ-TV) The microbakery serves baked goods, coffee, cheese, jars...
    (Bloomberg) – For nearly all retailers, the pandemic has meant that shoppers visit less frequently and stock up on every trip. But Target Corp. bucked this trend by attracting more visitors last quarter, driving record sales and profits. Transactions in the US, a benchmark for in-person and online customer traffic, rose 4.6% in the second quarter, outpacing rival Walmart Inc., which posted a 14% drop in the period. Original Note: Target Has Edge Over Rival Walmart in Customer Traffic: Chart bloomberg.com“data-reactid =” 21 “> For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. “data-reactid =” 22 “> Subscribe now to stay ahead with the most trusted business news source. © 2020 Bloomberg L.P.
    (Bloomberg) – They have planned exit routes, opened bank accounts in other countries, and secured foreign passports. But, for now at least, most of Hong Kong’s high-net-worth investors are staying in the city, easing fears that the city’s new national security law will trigger a surge in capital outflows. Withdrawals have been minimal since the law took effect on June 30, in part because wealthy investors are still assessing how the Chinese government’s tighter control of Hong Kong will affect asset prices and the business environment. long-term, according to executives from four wealth managers in Asia, who asked that their identities not be disclosed because it is private information. Critics of the legislation have argued that it will undermine Hong Kong’s role as a financial center, but some wealthy investors are open to an alternative narrative – supported by the Hong Kong government and the city’s wealthiest tycoons – that...
    (Bloomberg) – The frenzied interest in bitcoin appears to have returned almost in full bloom. The largest cryptocurrency is rebounding again, while other risky assets, such as stocks, are nearing record levels and even gold is hitting new daily highs. After briefly surpassing $ 12,000 over the weekend for the first time in a year, before it experienced a sudden collapse that brought it to nearly $ 10,000, bitcoin is again rapidly approaching that higher level. Bitcoin peaked in late 2017, when it rose to nearly $ 20,000 before plummeting, and has since fluctuated significantly. The controversial digital alternative to traditional money attracted additional attention this week, after fixed income trader Dave Portnoy, founder of Barstool Sports, tweeted that he was ready to learn about bitcoin and invited cryptocurrency advocates Tyler and Cameron. Winklevoss to explain it to you. Original Note: Bitcoin Delirium Makes a Reappearance While Risk Assets Surge...
    NEW YORK (CBSNewYork) – New York City has entered Phase 4, but Manhattan is still a ghost town. Small business owners are threatened with extinction, pleading with Gov. Andrew Cuomo to do something, find a solution. As CBS2’s political reporter Marcia Kramer reports, the owner of Lili’s Bake Shop on Seventh Avenue in Midtown is so desperate to make ends meet he came up with a new product – chocolate covered cheesecake on a stick – hoping it will bring people into his business and save him from going under. Here’s how bad it is: Pre-COVID, he had as many as 600 customers a day. And now? “Ten, 15,” said Tarea Hassanio. “I can’t survive. I really can’t survive. I actually had a phone call with the landlord yesterday. He’s going to take me to court because I haven’t paid the rent. I asked for more time, but he said...
    (Bloomberg) – China’s economic recovery lost some bullish momentum in July. The effect of increased market confidence was offset by moderate demand in the real economy. That’s what an aggregate index points to, combining eight of the first available indicators of market confidence and trade conditions that Bloomberg tracks, and that hasn’t changed since last month, after improving in May and June. . Original Note: Early Indicators Show China’s Recovery Lost Pace in July: Chart bloomberg.com“data-reactid =” 21 “> For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. “data-reactid =” 22 “> Subscribe now to stay ahead with the most trusted business news source. © 2020 Bloomberg L.P.
    New York (CNN Business)R&B superstar Ciara wants her fans to do more to support Black-owned businesses that have been struggling to stay afloat through the coronavirus pandemic.The Grammy-winning singer, who gave birth to her third child on Thursday, is partnering with Discover on "Eat It Forward," an initiative that aims to award $5 million to Black-owned restaurants across the United States."I thought it was an incredible campaign," Ciara told CNN Business in an interview Wednesday. "The reality is during this era of Covid, Black-owned restaurants and the Black community in general has been disproportionately affected by all that's happened. I loved that there was a strong since of urgency and awareness to reach out and help in this area." View this post on Instagram I'm proud to partner with @Discover on the #EatItForward initiative. They're giving a total of $5 million to Black-owned restaurants selected from YOUR nominations. Here's...
    TARZANA (CBSLA) – Hair salons and barbershops are scrambling to meet the new outdoor requirements which were approved by Gov. Gavin Newsom Monday. MK Salon in Tarzana, Calif. July 21, 2020. (CBSLA) The governor announced that hair salons and barbershops would be allowed to move some of their services outdoors, which sparked some confusion. Newsom’s order only allows them to offer limited personal care services: haircuts and blowouts, nothing that would require customers to go inside. The services must be performed under a canopy or tent. On July 13, California Newsom ordered all the counties on the state’s monitoring list – which currently numbers 33 — to close indoor operations for hair and nail salons, along with tattoo parlors, gyms, houses of worship, shopping malls and movie theaters. That includes the entire Southland region and represents at least 80% of California’s population. Last week, Mike Farzaneh, owner of MK Salon...
    (Bloomberg) – Apparently, it’s not enough that the additions of 25.9 million Netflix Inc. subscribers in the first half were on par with last year’s figure. The streaming giant, whose third-quarter membership outlook lived up to Wall Street projections, was headed for its worst week in a year after losing as much as 8.2% on Friday. The drop currently puts the S&P 500 communication services index in competition for the second-worst performing stock market this week. Original Note: Netflix Set for Worst Week in Year on Subscriber Outlook: Chart bloomberg.com“data-reactid =” 21 “> For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. “data-reactid =” 22 “> Subscribe now to stay ahead with the most trusted business news source. © 2020 Bloomberg L.P.
    Chinese dictator Xi Jinping sent a letter to members of the Global CEO Council on Wednesday, presented by his state media as a triumphant boast of China’s economic strength. To more skeptical eyes, the letter appeared as a plea for foreign companies to refrain from disengaging with China after the coronavirus pandemic, the oppression of the Uyghurs, the crackdown in Hong Kong, and China’s increasingly belligerent behavior on its land and maritime borders. The “Global CEO Council” is a creation of the Chinese Communist Party that includes executives from 39 multinational corporations. China’s state Xinhua news service reported that Xi’s letter included China’s pledge to “keep deepening reform and expanding opening-up, and provide a better business environment for the investment and development of Chinese and foreign enterprises.” Xi strove to make China sound as attractive to foreign business as possible, deploying the Chinese Communist Party’s (CCP) shopworn canards about “win-win cooperation”...
    LITTLE FALLS, New Jersey -- Sip 'N Swirl, a local ice cream shop based in Little Falls, New Jersey, has been reinvented as a result of the ongoing pandemic.For Fred Hersh, manager of Sip 'N Swirl, the challenge of keeping his staff employed and the business from collapsing meant they had to get creative and turn to different business ideas.The shop, which prides itself on their homemade cakes, ice cream sandwiches, and various desserts, is now available at local farmers' markets and pre-packaged frozen dole whip for local bars.Related: Brownstone Pancake Factory has turned to the 1950's style of dining to stay afloat"I had to do something to keep this place going so we started a home delivery service selling ice cream, milk, and butter; from there we added to the menu," said Jed Hersh, manager of Sip 'N Swirl.In addition to selling ice cream and produce, the Sip 'N...
    (Bloomberg) – Black-owned small businesses are bearing the brunt of the economic pain caused by covid-19 in the United States. Since last month, the number of black homeowners has declined at almost four times the rate of whites, according to research by economist Robert Fairlie of the University of California, Santa Cruz. While state reopens and a partial rebound in business activity benefited all groups, new data shows that racial disparities increased from May to June. Original Note: Racial Gap Among U.S. Business Owners Widened in June: Chart bloomberg.com“data-reactid =” 21 “> For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. “data-reactid =” 22 “> Subscribe now to stay ahead with the most trusted business news source. © 2020 Bloomberg L.P.
    NEW YORK (CBSNewYork) — The restaurant industry has been devastated by the coronavirus pandemic and many are trying to find ways to adapt just to stay afloat. Lee Seinfeld has owned “Dive Bar” by West 96th Street for more than 30 years. “This is my life, this is what I do,” he told CBS2’s Ali Bauman. There’s only room for five tables outside, so these days, business is down about 90%. “We survived 9/11, we survived Sandy, we survived snowstorms, we survived everything, but this is just something that’s very difficult at this point,” Seinfeld said. Since indoor dining is postponed indefinitely in New York City, many restaurants have been allowed to extend their outdoor seating into the street, but places like Dive Bar, which sits next to a turning lane, cannot. CORONAVIRUS PANDEMIC Resources, Hotlines, Unemployment & Covering Bills Remote Learning Tools For Parents Teaching At Home Ask...
    Erin Gomes’ dream of owning her own auto shop finally came true when she purchased the Mountain View business where she’d been hired as a receptionist more than 16 years earlier. Not long after giving birth to her second child, she was signing the incorporation papers to take over and open up as Bavarium Autoworks. It turned out her timing couldn’t have been worse. “And then two weeks later the stay in place order happened,” Gomes said. “Luckily, it’s an essential business so we were able to stay open, I can only imagine if I had bought a hair salon and then had to shut down two weeks later.” The COVID-19 pandemic has thrown Gomes’ new business, and her growing family, into chaos as they struggle to adapt to health regulations, shuttered schools and the worst economy since the Great Recession. She joins the thousands of Bay Area small business owners who have been...
    A gas station dating back to the 1940's has now turned into a coffee shop offering drive-thru service during the pandemic. Partners Jeff Solorio, John Juniper, Benjamin Montoya and Edoardo Chavarin started fixing it up three years ago and turned it into Full Service Coffee Co., a drive-thru coffee shop for people on the go. With the stay at home order forcing many non-essential businesses to shut down due to safety, this coffee shop was able to keep running at full service."We realized we had an advantage because we have a drive-up concept," said Chavarin. "Minimal contact was always part of our DNA because people can just drive up and get their coffee." And with their little-to-no-contact advantage, they've started helping other small businesses stay afloat too. They're buying handmade masks, fresh bread, pastries, frozen tamales and coffee essentials from other spots and selling to their customers here. "We turned...
    (Bloomberg) – US stocks fell to their lowest level in more than two weeks and Treasury bills rose as the resurgence of new virus infections began to halt progress in reopening the US economy. Advertiser defections drove Facebook Inc. to its biggest decline since March, worsening the market crash. These are some of the main movements in the markets: Original Note: Stocks Hit Two-Week Low With Covid Anxiety on Rise: Markets Wrap bloomberg.com“data-reactid =” 22 “> For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. “data-reactid =” 23 “> Subscribe now to stay ahead with the most trusted business news source. © 2020 Bloomberg L.P.
    CHICAGO -- Chicago restaurants may be weathering one of the toughest economic times in modern history but the chef and owner behind Parachute hasn't let the downturn stifle her "giving spirit." "We've had a big hit in reduction of sales," Beverly Kim said. "We've had to go very lean on employees that we can have here."So the restaurant decided to switch to offering family-style meals."Parachute's food doesn't do well in containers," Kim said. "We decided to flip our menu to a family style meal, something that is affordable and easier to carry out." Along with keeping up her carry-out business, Kim is regularly donating meals to health care workers on the front lines at nearby Swedish Hospital.She also packs produce boxes for senior citizens at the Hanul Family Alliance, a nonprofit that serves Korean immigrants in the Chicago area.Kim, who burst onto Chicago's dining scene 5 years ago, said these...
    (Bloomberg) – World trade suffered a record slump at the peak of confinements deployed to contain the coronavirus, dropping more than 12% in April alone. Due to the closure of factories, airports and offices and restrictions on international transfers and travel, trade contracted 16% compared to the previous year, the Office of Economic Policy Analysis (CPB) said Thursday. Dutch) from the Netherlands. Quarterly figures, which the CPB uses to measure momentum, fell 7%. Original Note: Global Trade Plunged by Record at Peak of Virus Lockdowns: Chart bloomberg.com“data-reactid =” 21 “> For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. “data-reactid =” 22 “> Subscribe now to stay ahead with the most trusted business news source. © 2020 Bloomberg L.P.
    MIAMI (CBSMiami) – The reopening of South Florida seems to bring a new set of challenges each day. Many restaurant owners in particular find themselves at a crossroads of trying to stay within the rules and trying to stay in business. “A big concern we are seeing from our clients is that fear. That cost investment in reopening and have to shut down because of the increase number of cases,” said Marbet Lewis, an attorney who represents restaurants. There’s confusion and resistance among restaurant patrons as far as social distancing and wearing masks. “Analyze now what is working, what’s not working. Why we are having so much resistance from the public? Because a lot of that has to do with lack of information on the business side. Not informing the patrons,” Lewis explained. Download The New CBS4 News App Here With the positive cases spiking and medical...
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