Walmart closes on Thanksgiving and offers bonuses



LinkedIn to lay off nearly 1,000

LinkedIn lays off nearly 1,000 employees, or about 6% of its workforce globally, with US unemployment above 13% and national economies in Europe and Asia, to the Americas , decreasing due to the pandemic. The epidemic has disrupted commerce around the world, shutting down thousands of businesses while forcing others to lay off large numbers of workers while waiting for a recovery. Hiring has slowed down considerably. – ASSOCIATED PRESS


Marriott requires guests to wear masks

Marriott hotels will require guests to wear masks in lobbies and other public spaces starting July 27. The Bethesda, Maryland-based hospitality giant – which has more than 7,300 hotels worldwide – has been asking employees to wear masks for several months. But in a video message posted Monday, CEO Arne Sorenson said the tenure was extended to guests. – ASSOCIATED PRESS


eBay sells classifieds to Norwegian company

EBay Inc. is selling its classifieds business to Norwegian Adevinta in a $ 9.2 billion deal that will create the world’s largest online classifieds group, the companies said Tuesday. Under the terms of the deal, eBay will receive $ 2.5 billion in cash and become Adevinta’s largest shareholder, with a 44% stake and one-third of the voting rights. The merged company will have classified ad websites in 20 countries, covering 1 billion people and receiving approximately 3 billion visits per month. – ASSOCIATED PRESS


ABC News official broke down after racist comments were investigated

The Walt Disney Co. said in an internal memo on Monday that it had severed ties with a senior ABC News executive after an investigation supported complaints that it made racist remarks in the workplace. The executive, Barbara Fedida, 52, had worked at ABC for most of her roughly two-decade career, with the exception of a five-year stint as head of talent development at CBS News in 2006 to 2011. As Senior Vice President of Talent Relations and Business Affairs at ABC News, she was involved in on-air talent selection for programs like “Good Morning America,” “ABC World News Tonight With David Muir “And” Nightline “. Last month, HuffPost reported that Fedida had made callous statements, including racist comments, at work. During a pay negotiation with “Good Morning America” ​​anchor Robin Roberts, who is black, Fedida said the company was not asking her to “pick cotton,” the report said. – NEW YORK TIMES


Black executive resigns, talks about past relationship

Jide Zeitlin, CEO of Tapestry and one of only four black CEOs in the Fortune 500, resigned Tuesday. The unexpected move came after the company’s board of directors learned of an allegation of misconduct involving Mr. Zeitlin and hired a law firm to investigate, according to a person familiar with the situation. ‘is expressed on condition of anonymity. Although Tapestry, which owns Coach and Kate Spade, announced that Mr Zeitlin was stepping down for “personal reasons,” he later admitted in a statement that the exit was linked to a past relationship. “Over the past month, a woman I photographed and had a relationship with over 10 years ago contacted various media organizations to express her concerns about what had happened,” said Mr. Zeitlin in his press release. “I felt compelled to quit today because I don’t want to create a distraction for Tapestry, a company close to my heart. The Wall Street Journal reported on the statement earlier Tuesday. – NEW YORK TIMES


Giant Retailers Team Up To Find An Alternative To Plastic Bags

The world’s largest retailers are trying to replace the plastic shopping bag. Target, Walmart and CVS on Tuesday unveiled a joint $ 15 million initiative to replace plastic bags with something else over the next three years. The companies, which have each contributed $ 5 million, are aiming to create a global competition to find a way to change plastic bags or make them unnecessary. Walgreens and Kroger plan to be involved. Called “Beyond the Bag,” the companies want to research new materials for bags or the technology and delivery systems that can make them obsolete. – BLOOMBERG NEWS


Coca-Cola revenue drops without games or movies

Coca-Cola’s revenues fell 28% in the second quarter, although sales started improving last month as lockdowns eased globally. The pandemic has since gained momentum in parts of the United States, India and elsewhere in the developing world. The surge in infections in the US Sunbelt has forced businesses to shut down again and potentially delayed the return to activities that fuel half of Coca-Cola’s sales. Those sales come from stadiums, cinemas and other places where people congregate in large numbers, places that have closed during the pandemic. Major League baseball will start playing this week, but to empty the stadiums with a crowd noise. – ASSOCIATED PRESS


UBS seeks to share buyouts with pandemic behind it

UBS chief executive Sergio Ermotti is considering more share buybacks as a way to reward investors while maintaining flexibility during the economic uncertainty caused by the coronavirus pandemic. The Swiss bank has signaled that the crisis’s worst impact on its balance sheet may have already ended, pointing to the prospect of a resumption in shareholder payments as early as the next quarter after freezing returns under pressure from regulators. UBS is launching one of the first rounds of the controversial debate in Europe over bank dividends and share buybacks after lenders were granted various regulatory breaks to help them weather the crisis. – BLOOMBERG NEWS


Pakistan threatens TikTok for content it considers “immoral”

Pakistan has threatened China’s TikTok and blocked Singapore-based streaming platform Bigo Live, citing what the regulator called widespread complaints about the apps’ “immoral, obscene and vulgar” content. The move was quickly criticized by Pakistani rights activists who saw it as a potential precursor to even greater censorship in this conservative Muslim nation. TikTok, a video sharing app owned by Beijing tech giant ByteDance, and Bigo Live, a live streaming platform owned by a Singapore company, are popular among Pakistani teens and young adults. In 2008, Pakistan banned YouTube on videos depicting the Prophet Muhammad. – ASSOCIATED PRESS


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