Business News

As loans run out, small businesses face reckoning amid COVID-19 surge

As loans run out, small businesses face reckoning amid COVID-19 surge

ABC NewsBy DEVIN DWYER and JANET WEINSTEIN, ABC NEWS(WASHINGTON) — The resurgence of COVID-19 across the country this summer has deepened anxiety for millions of American small business owners who face another imminent cash crunch in their battle to survive a historic pandemic.The government’s $660 billion Paycheck Protection Program, first rolled out in April, was…

Prominent Latino voices call for Goya Foods boycott after CEO praises Trump

Prominent Latino voices call for Goya Foods boycott after CEO praises Trump

Nikki Kahn/The Washington Post via Getty ImagesBy CATHERINE THORBECKE, ABC News(NEW YORK) — Goya Foods, the New Jersey-based producer of many canned foods that have become staples in American homes, is facing calls for a boycott from prominent Latino voices after its CEO Robert Unanue lauded President Donald Trump.”We are so blessed to have you…

While some PPP beneficiaries have raised eyebrows, most remain secret

While some PPP beneficiaries have raised eyebrows, most remain secret

Kativ/iStockBy SHANNON K. CRAWFORD and CHEYENNE HASLETT, ABC News(NEW YORK) — Kanye West’s fashion brand. Investment firms that manage billions. Businesses tied to the Trump family and owned by prominent lawmakers. The Church of Scientology.The Small Businesses Administration’s (SBA) massive data dump that included the names of over 650,000 Paycheck Protection Program (PPP) recipients revealed…

36,000 United Airlines employees could face furloughs this fall

36,000 United Airlines employees could face furloughs this fall

iStock/YakobchukOlena(NEW YORK) — BY: AMANDA MAILE, MINA KAJI, and SAM SWEENEY, ABC NewsUnited Airlines is preparing to furlough up to 36,000 employees — as much as 45% of its front-line U.S.-based workers — as the coronavirus pandemic ravages the airline industry.United Airlines said almost half of its U.S.-based workers face the potential job cuts on…

Should Disney World reopen? ‘We believe very much it should,’ park says

Should Disney World reopen? ‘We believe very much it should,’ park says

Bastiaan Slabbers/iStockBy GOOD MORNING AMERICA, ABC News(LAKE BUENA VISTA, Fla.) — The phased reopening of Walt Disney World is just days away, and as the number of COVID-19 cases in Florida remains one of the highest in the country, many are wondering, “Should the theme park be opening right now?”The question was posed to Jim…

H&M plans to close 170 stores worldwide amid coronavirus pandemic

H&M plans to close 170 stores worldwide amid coronavirus pandemic

aprott/iStockBy JACQUELINE LAUREAN YATES, ABC News(NEW YORK) —  H&M is planning to close 170 stores worldwide after experiencing a drop in sales amid the coronavirus pandemic.After many of the fashion retailer’s stores were forced to close due to mandated shutdowns, the company has experienced a 50% drop in sales during the company’s first quarter.There were…