Americas

Chuck E. Cheese and GNC bankruptcies highlight America’s economic ‘washout’ from COVID-19

The rallying stock market may not care about it right now, but the economic devastation from the COVID-19 pandemic continues in full force.

Indeed this week highlights the ongoing pain ripping through Corporate America. Overly indebted vitamin seller GNC filed for bankruptcy on Wednesday, crushed by mall closures brought on by the pandemic. Chuck E. Cheese — also boasting a ton of debt following a 2014 leveraged buyout — filed for bankruptcy on Thursday as the prospect of catching COVID-19 by touching dirty games keeps parents and children away.

“I think what you’re seeing is what we’ll call the prolonged washout from COVID,” said Barclays chief U.S. economist Michael Gapen on Yahoo Finance’s The First Trade. Gapen says he is most concerned about the prospect for service-oriented companies in life after COVID-19, and doesn’t rule out more bankruptcies in the months and years ahead.

“We think that [those sectors] will

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OpenTable CEO says 25% of America’s restaurants will close for good due to coronavirus

As the world’s largest restaurant reservations platform, OpenTable has unique insight into the recovery restaurants are making as economies start to open back up from coronavirus lockdowns.

Unfortunately, OpenTable data shows the tough road ahead is pointing to the grim reality that up to 25% of restaurants in the U.S. might permanently close due to the pandemic, according to OpenTable and Kayak CEO Steve Hafner.

“Twenty-five percent [of restaurants closing] is still what we’re projecting,” he told Yahoo Finance’s YFi PM, reaffirming his company’s dire projection from back in May despite a recent uptick in restaurant reservations. “Even in the best of times, restaurants operate on really thin margins. So if you add on capacity restrictions, new safety and service protocols, it’s really tough for a restaurant to make it.”

OpenTable data, which comes from a fraction of the nearly 60,000 restaurants around the globe, shows a modest recovery for

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America’s job crisis amid coronavirus is having a ‘disproportionate impact’ on black Americans

Economists are anticipating a fifth of U.S. workers to be unemployed on Friday, and data shows that black Americans are being hit the hardest.

The May jobs report “will provide the first full view of the overall severity of the COVID-19 crisis,” Daniel Alpert, senior fellow and adjunct professor of macroeconomics at Cornell Law School, said in a statement provided to Yahoo Finance. And “attention should be paid to the disproportionate impact of this crisis on the Black/African American population.” 

Money, Honestly podcast: How a layoff in the pandemic turned into a bankruptcy for one single mother

The coronavirus pandemic has caused suffering across the country, from the health effects of COVID-19 infection as well as the economic stress brought about by stay-at-home orders put in place to stem the virus.

Those measures have been hammering the U.S. economy, which has left millions of Americans out of work, filing for

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America’s hospitals have embraced remote technology amid COVID-19: Tech

Wednesday, May 13, 2020

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06 May 2020, Tunisia, Ariana: A doctor controls a robot with a mobile as she talks from distance to a coronavirus patient at the Abderrahmen Mami hospital, the robot was manufactured by a Tunisian company and was donated to the hospital to limit contact between medic staff and infected coronavirus (COVID-19) patients. Photo: Khaled Nasraoui/dpa (Photo by Khaled Nasraoui/picture alliance via Getty Images)

It’s gone ‘shockingly well’: America’s hospitals have embraced remote technology amid COVID-19: Tech companies like Apple, Microsoft, and Google are working in tandem with health care systems to ensure COVID-19 patients can stay in touch with their family, and are helping to protect health care workers from being unnecessarily exposed to infected individuals. READ

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How the deployment of new tech in America’s hospitals has gone ‘shockingly well’

Dan Bisset was in a medically induced coma and on life support. The 48-year-old’s blood was being artificially oxygenated via a specialized machine, as he continued to battle the novel coronavirus, which kept him in strict isolation.

Unable to let his family members into the unit, personnel in the cardiac intensive care unit at Geisinger Medical Center in Danville, P.A., provided Bisset’s sister, Lisa Harvey, with an iPad, allowing her and Bisset’s wife, Shannon, to FaceTime him.

“Even though my brother was still in the medically induced coma, the nurses and the doctors would take the iPad and position it for us to be able to see my brother, to be bedside by my brother,” said Harvey, who was able to communicate with him as his condition improved.

A similar scenario is playing out in hospitals across the country, with tech companies like Apple (AAPL), Microsoft (MSFT), and Google (GOOG,

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