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AMC Theatres Faces Financial Worry After Credit Rating Downgrade

AMC Theatres, America's largest movie cinema chain, has had its credit rating downgraded to reflect an "imminent" risk of defaulting due to the impact of the global coronavirus (COVID-19) pandemic. The Wrap reports that S&P Global downgraded its credit rating for AMC Entertainment to CCC- from B on Thursday, taking the company's outlook from "Highly speculative" to "Default imminent, with little prospect for recovery," as the agency forecast ... Full story

Job Retention Scheme may cost three times initial estimate

The UK's Job Retention Scheme may cost £30-40bn over three months, three times the size of initial estimates. That is according to analysis by the Resolution Foundation, using the latest figures on take-up of the scheme from the British Chambers of Commerce (BCC). While initial Treasury estimates suggested a 10% take-up, fresh figures from the BCC suggest that far more firms are planning to use it. It found nearly a fifth of smaller firms plan ... Full story

Jack Dorsey creates $1B COVID-19 relief fund using Square equity – TechCrunch

Jack Dorsey announced in a series of tweets today that he is shifting $1 billion in his Square equity to create a fund dedicated to COVID-19 relief. The Twitter and Square CEO is calling the fund Start Small and posting a tally of disbursements and recipients in a public spreadsheet. Dorsey said in his announcement that the new initiative will shift the focus to other causes at some point. The first Start Small contribution listed is $100,000 ... Full story

For lobbyists, coronavirus pandemic has been a boon for their business

In this April 6, 2020 photo, a sign at The Anthem music venue reads "We'll Get Thru This" at the wharf which is almost completely empty because of the coronavirus outbreak in Washington. The coronavirus pandemic has gut-punched global markets, put 6.6 million Americans out of work and raised the strong likelihood of a recession. But in the Washington lobbying world, business is booming. (AP Photo/Andrew Harnik) AP. WASHINGTON — The coronavirus ... Full story

As millions work from home, some online buyers see shortages, price jumps in at-home tech

With millions of Americans urged to work from home to further prevent the spread of the novel coronavirus , many are dependent on at-home tech devices more so now than ever. That's getting harder, and more expensive, with a sudden in crush in demand for screens, batteries, USB headsets, webcams or laptop docks online. Many items like these are either out of stock or prices have gone up, according to Will Evert, an IT professional in New York ... Full story

Community Banks Lead Steering More than $4 Billion to Small Business

Hundreds of community banks across America are bypassing big banks on Wall Street to fuel the economic rescue of the nation’s economy, steering more than $4 billion in loans to small businesses across the country. A senior Treasury Department official confirmed to Breitbart News on Friday afternoon that more than $4 billion has been given out in loans to small businesses, mostly through smaller community banks, on Friday alone. Friday is the ... Full story

Alcohol Sales in the US Just Saw a 55 Percent Surge

Aside from binge-watching our way through everything and anything on Netflix, there isn't really much else we can do while stuck at home. Apart from one thing, that is: drink. Yep, it seems many of us here in the States have turned to alcohol while we self-isolate and there's one week, in particular, that experts believe marks the peak. Keep scrolling for the shocking figures... Advertisement. Ah, good old social distancing... It’s an art that ... Full story

Domestic Workers in Middle East Risk Abuse Amid COVID-19 Crisis

Governments around the world have imposed restrictions on movements of citizens to counter the threat of COVID-19 and limit its spread. But for millions of Asian and African migrant domestic workers in the Middle East, these important safeguards also increase the risk of serious abuse. I have spent over 10 years interviewing domestic workers in the region and documenting their working conditions. I believe that, without strong action by ... Full story

Business owners say their personal data is being leaked on federal loan site

Critical error on federal small business site. Small businesses across the U.S. have reported personal data leaks after applying for a disaster loan from the Small Business Administration. The SBA has yet to acknowledge the leaks, and its website was plagued by maintenance shutdowns in late March. The agency told CBS News it is currently operational — despite concerns from small business owners. Eric Levinson opened The Hummingbird Inn, a ... Full story

U.S. farmers are "gonna be in trouble" without foreign labor during the coronavirus pandemic

While the spring harvest season is here in America, CBS News spoke to farmers who say there aren't enough workers. Foreign labor, mostly migrant workers, filled more than a quarter-million agriculture jobs in the U.S. last year, but this spring, there is a potential labor shortage amid the coronavirus pandemic . "This coronavirus has got everybody so stirred up," Georgia farmer Bill Brim told CBS News correspondent Mark Strassmann. Worrying ... Full story