On Wednesday, May 20, Florida’s Disney Springs (DIS) will begin its initial reopening, Matt Simon, VP of Disney Springs, has announced. He called the move “a great first step in the phased reopening of Walt Disney World Resort.”“While our theme parks and resort hotels remain temporarily closed, the phased reopening of Disney Springs is a welcome milestone as we navigate through this unprecedented time together as responsibly as we can” Simon wrote.Based on government requirements, as well as guidance from health authorities and government agencies, DIS will implement several new health and safety measures at the outdoor shopping, dining, and entertainment complex.For instance, all guests 3 years and older, along with cast members will have to wear a face covering while visiting Disney Springs. Visitors will also be requested to undergo temperature screenings, and the number of guests will be limited during this initial phase.DIS also said that it has increased...
(Bloomberg) -- President Xi Jinping said China will make its coronavirus vaccine a global public good once one is available. Xi addressed the World Health Organization’s decision-making meeting shortly after a senior U.S. official suggested Beijing sent airline passengers to spread the coronavirus worldwide.An experimental vaccine from Moderna Inc. showed promising early signs that it can create an immune-system response in the body that could help fend off the virus, based on a small, early human trial. Iran reported the biggest increase in infections in six weeks. Germany recorded a small gain in cases, though the daily death toll fell.Japan’s economy sank into a recession, while in China, demand for oil recovered to almost the level seen before the government imposed a lockdown in February.Key Developments:Virus Tracker: Cases top 4.7 million; deaths exceed 315,000Pandemic shatters world order, sowing anger and mistrustChina faces angry world seeking virus answers at key WHO meetingHow...
The COVID-19 pandemic has brought the movie and theater industry to a halt, but Imax Corp (NASDAQ: IMAX) CEO Richard Gelfond said on Fox Business that the future of the movie industry is secure. What Happened Imax has a presence in more than 80 countries, and the reopening process for theaters will vary by country, Gelfond told Barron's editor Jack Otter in the interview.So far, the company has resumed operations in Hong Kong, Taiwan, and South Korea. As a precaution, everyone's temperature is taken and either seats or rows are intentionally empty.Rules and restrictions for North American reopenings have yet to be decided, he said. Most likely, the first steps will include diminished capacity and "go from there," the CEO said. Why It's Important Needless to say, empty seats or rows translate to lost revenue potential, but this could be mitigated through higher demand on weekdays as opposed to just over...
(Bloomberg) -- As successful as the Federal Reserve has been propping up corporate debt prices, the support is only temporary and distress will sweep through the credit markets when the central bank inevitably steps back, Howard Marks said.“Can the Fed keep it up forever?” Marks, the billionaire co-chairman of Oaktree Capital Group, said in a Bloomberg “Front Row” interview. “Those of us in the markets believe that stocks and bonds are selling at prices they wouldn’t sell at if the Fed were not the dominant force. So if the Fed were to recede, we would all take over as buyers, but I don’t think at these levels.”That, in a nutshell, is the dilemma for policy makers.Confronted by the worst economic collapse since the Great Depression, they’ve resorted to unprecedented means to keep big employers in business, including the March 23 announcement of two corporate-credit facilities with $750 billion of total spending...
