facebook-logo twitter-logo

Menu
  • Parent Category: ROOT

Business News

Report shows pandemic's 'devastating' impact on NYC arts, entertainment industry
FernandoAH/iStock By MEREDITH DELISO, ABC News (NEW YORK) -- A new report demonstrates the "devastating" impact of the coronavirus pandemic on New York City's arts and entertainment sector, as many venues, including Broadway theaters, have remained shuttered for nearly a year.One year ago, nearly 87,000 people were employed in the arts, entertainment and recreation sector in New York City, according to the New York State Department of Labor's Current Employment Statistics -- not including freelancers or the self-employed.By April, after the statewide stay-at-home order went into effect, that number fell to 34,100, and it has "barely budged" since then, said...
Read more...
Peter Luger Steak House welcomes diners at 35% alongside famous wax figures
Peter Luger By KELLY MCCARTHY, ABC News (NEW YORK) -- As New York City restaurants reopened at 35% capacity Friday, one iconic eatery got creative with how to fill empty tables and encourage social distancing.Peter Luger Steak House teamed up with Madame Tussauds to bring iconic celebrity wax figurines into the famous wood-paneled dining room.The star-studded experience includes Jon Hamm hanging by the bar, Audrey Hepburn, Michael Strahan and Jimmy Fallon all seated at their own tables and Al Roker waiting to direct diners upstairs."The restaurant industry is vital to New York City's economy, and it's been particularly hard hit...
Read more...
'A hidden figure no longer': NASA officially names DC headquarters after Mary W. Jackson
iStock By: CATHERINE THORBECKE, ABC News (WASHINGTON) -- NASA officially named its headquarters in the nation's capital after Mary W. Jackson, the agency's first Black woman engineer, with a ceremony honoring her legacy on Friday."With the official naming of the Mary W. Jackson NASA headquarters, we ensure that she is a hidden figure no longer," NASA acting Administrator Steve Jurczyk said during Friday's ceremony, which was largely virtual due to the pandemic."Jackson's story is one of incredible determination. She personified NASA's spirit of persevering against all odds, providing inspiration and advancing science and exploration," Jurczyk added. "There is no denying...
Read more...
FCC to provide $50 subsidies on broadband internet for low-income households
ilbusca/iStock By CATHERINE THORBECKE, ABC News(WASHINGTON) -- The Federal Communications Commission greenlit a program to provide low-income households monthly $50 subsidies for broadband internet in a move to help bridge the digital divide nearly a year after the coronavirus pandemic forced many schools, businesses and more to go virtual.The FCC unanimously voted on Thursday to establish the $3.2 billion Emergency Broadband Benefit Program, that aims to provide qualifying households with discounts on their internet bills. It will also provide some households an opportunity to receive a computer or tablet at a discount.Acting chairwoman Jessica Rosenworcel said that the FCC has...
Read more...
Trailblazing beauty inventions and innovations made possible by people of color
Courtesy of The Brown Beauty Co-Op By JACQUELINE LAUREAN YATES, ABC News (NEW YORK) -- As we close out Black History Month, it's paramount to highlight and celebrate significant contributions made by African Americans across all categories.One area that hasn't always been illuminated in textbooks is the number of revolutionary beauty inventions, innovations and businesses from people of color.Personal care, grooming and beauty are big business markets and statistics continue to show how willing consumers of color are to buy products that fit their specific needs.Black households spend 7% more on hair care annually than the U.S. average, with $82.50...
Read more...
Zoom to provide automatic closed captioning for all free accounts
alexsl/iStock By CATHERINE THORBECKE, ABC News (NEW YORK) -- Zoom said it will start providing live transcription services for free accounts in a bid to boost accessibility.Jen Hill, the company's product marketing manager, made the announcement in a blog post on Wednesday, saying the update that provides automatic closed captioning should be available to all users later this fall.In the meantime, meeting hosts who require live transcription services can request the feature ahead of time via an online form."As part of our commitment to connecting users across the world, we are focused on continually enhancing our features to provide a...
Read more...
Iconic Potato Head toy officially goes gender-neutral for inclusive rebranding
Hasbro By KELLY MCCARTHY, GMA(NEW YORK) -- The plastic spud formerly known as Mr. Potato Head is going gender-neutral in a reintroduction.Hasbro announced Thursday that the company is officially dropping the "Mr." from the Mr. Potato Head brand name, to make sure "all feel welcome in the Potato Head world.""The new branding and logo bring a fresh look with a whimsical color palette and will introduce new product, including create your own potato head family, to appeal to the modern consumer," a spokesperson for the brand said.Hasbro said it's "a celebration of the many faces of families, allowing kids to...
Read more...
GameStop stock surges again weeks after high-profile rally
RiverNorthPhotography/iStock By CATHERINE THORBECKE, ABC News(NEW YORK) -- GameStop shares surged nearly 40% early Thursday, after doubling in price on Wednesday, in a new rally that once again has many market watchers scratching their heads.The new spike in GameStop stock comes weeks after its meteoric rise and fall in late January as individual investors on the Reddit forum r/wallstreetbets pushed shares for the struggling video game retailer to new heights, forcing hedge funds shorting the stock to close their positions at major losses.Trading of GameStop stock was temporarily halted multiple times Thursday morning as the wild trading session kicked off.The...
Read more...
USPS unveils new mail truck
USPS By MICHAEL DOBUSKI, ABC News(NEW YORK) -- For the first time in 35 years, United States Postal Service workers are getting a new set of wheels.This week the USPS pulled the wraps off the Next Generation Delivery Vehicle. The “NGDV” is a brand new mail-carrier van designed and produced under contract by Oshkosh Defense. “This has been a long time coming,” says Jason Torchinsky, a writer at the automotive blog Jalopnik. The previous mail carrier van, the Grumman LLV, first hit the road back in 1986. There are still 140,000 currently in operation. The LLV used the engine and...
Read more...
Victoria's Secret plans to close up to 50 more stores this year
kokkai/iStock By JACQUELINE LAUREAN YATES, ABC News(NEW YORK) -- Victoria's Secret is planning to close up to 50 stores in the U.S. and Canada this year.The news comes as the lingerie giant saw a continuing plummet in sales during the coronavirus pandemic and closed over 200 of its stores in 2020.On a call with analysts last year, Victoria's Secret CEO Stuart Burgdoerfer said, "What we see is a somewhat smaller but substantially more profitable business with a much better foundation, and then obviously a return to growth which is what all of us are looking for."With the closures, the brand's...
Read more...
Becca Cosmetics is going out of business after 20 years
FluxFactory/iStock By JACQUELINE LAUREN YATES, ABC News(NEW YORK) -- Beauty brand Becca Cosmetics is going out of business.The global cosmetics company announced on Wednesday it is closing in September after facing an accumulation of challenges as well as the impact of the COVID-19 pandemic."We believe in you, and we believe that the beauty inside you is the light you share with the world," the label wrote in a post. "We are confident that the spirit of BECCA will continue to live on through all of you."The brand continued by encouraging its fans to "keep illuminating your true selves" and "light...
Read more...
College dropout donates $20 million to the historically Black university he couldn't afford 60 years ago
kickstand/iStock By MORGAN WINSOR, ABC News(BALTIMORE) -- Nearly 60 years ago, Calvin Tyler was forced to drop out of college in his hometown of Baltimore because he couldn't afford tuition. Now he and his wife, Tina, have pledged $20 million to endow scholarships for students needing financial aid at the historically Black school.It's the largest-ever private donation from an alumnus to Morgan State University."Morgan is so proud to call this son and daughter of the great City of Baltimore our own, and through their historic giving, the doors of higher education will most certainly be kept open for generations of...
Read more...