Tag Archives: variant

Restaurants walloped by COVID-19 have suffered a silent epidemic of financial woes among an unlikely segment: Franchise eateries. The pandemic’s impact on the food industry has been well chronicled, with many having to shutter, drastically cut staffing and hours, or resort to other desperate measures just to stay afloat. However, some experts say franchises — third party operators licensed by larger brands — are just as vulnerable to closure and operational struggles, like food and… Source link

The Delta variant of the coronavirus has shown to be more contagious than previous versions, particularly for the unvaccinated, and that’s creating a level of risk for children that didn’t arise in 2020. “Children are getting hospitalized at higher rates than we’ve ever seen,” Dr. Mona Amin, a board-certified physician, said on Yahoo Finance Live (video above). “And yes, we do see that most children who are hospitalized are children of unvaccinated parents. But as this Delta variant… Source link

Hospitals in the U.S. South have quickly become overwhelmed with COVID-19 patients as cases continue climbing amid the surge of the Delta variant of coronavirus. And while there are indications that Delta transmission tends to subside after around 50 days, some health professionals see things getting worse before getting better. “We’ve seen it pick up with children, young adults, young women, pregnant women, unfortunately,” Dr. Ellen Eaton, assistant professor at the University of… Source link

(Adds economic data, economists’ comments) By Ann Saphir and Howard Schneider Aug 20 (Reuters) – The Federal Reserve Bank of Kansas City said on Friday its annual economic symposium in Jackson Hole, Wyoming, will take place on Aug. 27 virtually and not in person as planned, the clearest sign yet of the impact of the COVID-19 Delta variant on the Fed’s plans. “While we are disappointed that health conditions will prevent us from being able to gather in person at the Jackson Lake Lodge this year… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, August 20, 2021 More signs of a summer swoon for economic growth On Thursday morning, we noted that challenges were emerging for the health of the economic expansion, mostly due to the still-raging COVID-19 pandemic.  Those signs continued into the end of this week.  After highlighting that at least two Wall Street firms had either cut or… Source link

There may be a budding consumer spending slowdown underway at the hands of COVID-19 Delta variant fears, but that isn’t stopping some household name retailers from reinstating the dividends and buyback plans they scrapped at the height of the pandemic.  For some analysts on the Street, the moves make total sense.  “I wouldn’t say that anyone [retailer] returning cash is all of a sudden better off than they were before, but I think they are realizing that they did a good job. They put as much… Source link

Goldman Sachs on Thursday cut its GDP forecast for the U.S., warning of continued supply chain disruption and heightened inflation caused by the COVID-19 delta variant.  But the bank still anticipates robust 6% growth for the U.S. economy this year.   The world’s richest countries boast relatively high rates of vaccination that ensure strong economic growth, despite a wave of infections brought about by the delta variant, Ian Bremmer, Eurasia Group founder and political scientist, tells… Source link

Despite COVID-19 Delta variant fears beginning to weigh on consumer confidence and spending plans, the world’s largest retailer Walmart (WMT) says consumer behavior remains stable.  “We are not seeing a major shift in consumer behaviors at this point,” Walmart CFO Brett Biggs told Yahoo Finance when asked about current consumer trends. Biggs said the drivers of consumer spending in recent quarters — a high savings rate and rebounding jobs market — remain intact and are helping to fuel… Source link

Walmart (WMT), the world’s largest retailer, reported better-than-expected second-quarter revenue and sales results, driven by store traffic and stimulus check spending that bolstered its footprint in grocery sales in the face of surging COVID-19 infections nationwide. Here are the results versus the estimates, according to Bloomberg: Adjusted EPS: $1.78 v. $1.57 estimate Revenue: $141 billion v. $136.88 billion Walmart U.S. comp-store sales (excluding gas): 5.2% v. 3.12% estimate Walmart U.S…. Source link

As entrepreneurs navigate the changed economic landscape of the COVID-19 era, small U.S. businesses are increasingly pessimistic about the recovery — and are still scrambling to fill open jobs in a way that’s impacting their ability to function. Last week, the National Federation of Independent Businesses that its Small Business Optimism Index dropped 2.8 points in July to 99.7, reversing the gain from the previous month. Bill Dunkelberg, the NFIB’s chief economist, said in a statement… Source link