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News & Articles By Franz Walker
05/26/2020
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By Franz Walker
Business is picking up, but economic recovery from the coronavirus is still far off
Business activity and labor markets in both the U.S. and abroad suffered a little less in May than in previous months, offering signs that the economic damage from the Wuhan coronavirus (COVID-19) pandemic is easing but will require some time to fully recover. Despite the cautious reopening of many economies around the world, surveys of […]
05/21/2020
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By Franz Walker
Walmart: Demand for household essentials went up as people stockpiled during lockdowns
“Unprecedented demand” for household essentials in the middle of coronavirus lockdowns has caused sales to spike, according to Walmart. However, the world’s biggest retailer remained cautious as the pandemic also caused a number of issues for it. On Tuesday, Walmart said that some products were selling in two or three hours what would normally take […]
05/19/2020
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By Franz Walker
ANALYSIS: Grubhub and Doordash revealed as money losing scams that only exist to sucker naive investors
As Uber and Grubhub continue merger talks, questions are being raised over how food-delivery companies such as the latter, as well as rival DoorDash, are actually making money for their investors. In their latest round of merger talks, Grubhub rejected Uber’s offer of 1.9 of the latter’s shares for one of its shares, stating that the value was […]
05/15/2020
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By Franz Walker
Nearly 3 million jobless claims filed last week as coronavirus continues to ravage the economy
A total of 2.981 million Americans filed for unemployment insurance this past week, the Department of Labor reported Thursday. The figure raises the eight-week total for jobless claims to more than 36 million, by far the biggest loss in U.S. history. Last week was the sixth straight week in which new jobless claims have fallen. However, claims remain […]
05/14/2020
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By Franz Walker
Dubai in crisis as the coronavirus pandemic halts global trade
Dubai, a city built on the promise of globalization and free trade, is now under threat as the coronavirus (COVID-19) pandemic puts a stop to global economic activity. As flights have been grounded and investments halted, the emirate and its vast web of state-linked industries are facing billions of dollars in looming debt payments. “They facilitate the transport […]
05/12/2020
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By Franz Walker
Is President Trump underestimating the coronavirus in his bid to reopen America?
Despite having the highest coronavirus caseload in the world, many states in America have unveiled plans to open up, as part of President Donald Trump’s gamble to get the economy back on track. Official coronavirus reports from the field, however, paint a grim picture – showing that the president may be wildly underestimating the pandemic. For instance, Nebraska Gov. Pete Ricketts […]
05/08/2020
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By Franz Walker
Sysco warns of hard times ahead as coronavirus decimates restaurant industry
Sysco Corporation, America’s largest foodservice distributor, warned that coronavirus-related shutdowns of restaurants are leaving the industry in the worst state it has ever been in. The warning comes after the company reported a 6.5 percent decline in sales in its third quarter, which ended March 28 — one of its most significant quarterly reductions since 2009. […]
05/07/2020
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By Franz Walker
Mnuchin: “Too hard to tell” when international travel will resume as coronvirus ravages airlines
As the ongoing coronavirus (COVID-19) continues to wreak havoc on the airline industry, Treasury Secretary Steven Mnuchin advised Americans to focus on domestic travel this year. According to Mnuchin, the international travel outlook for the rest of the year remained uncertain. Responding to a question from Fox Business Network‘s Maria Bartiromo on whether international travel would be […]
04/24/2020
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By Franz Walker
Coronavirus pushes unemployment to highest levels since the Great Depression
The global coronavirus (COVID-19) pandemic has pushed one in six Americans out of a job, swelling unemployment numbers to levels not seen since the Great Depression, according to new data released Thursday. According to the Department of Labor‘s weekly report on unemployment insurance claims, 4.4 million Americans filed for unemployment benefits last week. This means […]
04/18/2020
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By Franz Walker
Jobless claims rise by 5.2 million as coronavirus continues its rampage across the economy
The Department of Labor (DOL) reported Thursday that 5.2 million more people filed first-time unemployment claims last week. The additional claims bring the total number of jobless claims for the week ended April 11 followed the 6.6 million claims reported the week before and bring the total claims filed since the coronavirus crisis forced businesses to close to around 22 […]
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