Tag: coronavirus

Famed Harlem restaurant Sylvia’s ‘paddling to keep afloat’ in coronavirus era

Like most other eateries across the country, New York City soul-food restaurant Sylvia’s — a historic mainstay in Harlem — is struggling in the COVID-19 era.

Once a global epicenter of the outbreak, the Big Apple is poised to begin the next phase of its reopening on Monday. However, Governor Andrew Cuomo postponed indoor dining in restaurants, a decision that has slammed the Upper Manhattan eatery, famed for both its food and its politically-connected clientele.

“We’re still paddling to keep afloat,” Tren’ness Woods-Black, granddaughter of the late Sylvia Woods and VP of Communications and Strategic Partnerships at Sylvia’s, told Yahoo

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‘There will be damage.’ How new coronavirus shutdowns will hammer Sacramento’s economy

Jay Brown, owner of King of Curls on Freeport Boulevard, has survived in the Sacramento business scene for 50 years by being nimble and finding market niches, starting with hair-styling for Black customers, then adding dreadlocks and hair braiding.

He now faces a new challenge.

Amid a dangerous surge in COVID-19 cases, Gov. Gavin Newsom on Monday ordered the shutdown of a broad swath of businesses in most of California, including hair salons.

Brown’s reaction is to adapt. He had already begun selling imported African-American clothing and he just got a large shipment of distinctive West African face masks to

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Goldman (GS) Q2 Earnings Beat, Provisions Up on Coronavirus Scare

Goldman Sachs GS reported second-quarter 2020 earnings per share of $6.26, significantly surpassing the Zacks Consensus Estimate of $3.97. Also, the bottom-line figure compares favorably with the earnings of $5.81 per share recorded in the year-earlier quarter.

The stock rallied more than 5% in pre-market trading, reflecting investors’ optimism with the results. Notably, the full-day trading session will display a clearer picture.

With the market volatility flaring up on the rising coronavirus concerns, the bank’s results were aided by higher Fixed Income, Currency and Commodities Client Execution (FICC) revenues during the reported quarter. Also, underwriting business displayed strength. In addition,

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‘A scary number’ of retail companies are facing bankruptcy amid the coronavirus pandemic

This story has been updated.

COVID-19 continues to squeeze the life out of retail.

On Tuesday, regional retailer Paper Store filed for Chapter 11. The operator of 86 stationary and card stores in the Northeast said it’s looking for a buyer.

New York & Co. parent company RTW Retailwinds filed for Chapter 11 bankruptcy protection on Monday after years of growing irrelevance in malls. The women’s apparel company — which changed its name to the bizarre RTW Retailwinds as part of a rebranding in 2018 — operates 378 outlet and and mall-based stores across 32 states.

It may close all

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Exodus of US firms from Hong Kong to avoid sanctions imposed in wake of security law would hit office market already hurt by unrest, coronavirus

A potential exodus of American companies from Hong Kong to avoid sanctions from US legislation that seeks to punish those who undermine the city’s freedom is likely to put pressure on landlords to reduce rents of prime office space, analysts said.

The fallout could be as much as a 30 per cent cut in rents, given that American companies are now the single largest occupier of prime office space in the city, according to one estimate. If the scenario plays out, it will further damage an office market that has been battered by a year of social unrest, and the

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