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Special Edition: The Latest on the Coronavirus Pandemic |
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Compiled by Risk and Compliance Journal and WSJ Pro Staff |
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Good evening. When and how to reopen is top of mind for government and business leaders heading into this week as countries take tentative steps to ease lockdown restrictions. In the U.S., states such as Georgia and South Carolina are in the early phases of reopening their economies. Yet retail and restaurant chains such as Macy’s, Gap and TGI Fridays say they will sit out the early phase of reopening, citing health concerns and uncertain customer demand. “We don’t want to be on the leading edge here,” said Ray Blanchette, chief executive of TGI Fridays, an 840-unit restaurant chain. Here's where things stand: The U.S. death toll from Covid-19 approached 54,000, although the number of infections in New York is waning. The country has more than 960,000 confirmed cases, as of 6 p.m. Sunday. Globally, close to 2.9 million people are confirmed to be infected; more than 206,000 have died. Administration officials are discussing replacing Health and Human Services Secretary Alex Azar following criticism of his management of the early response to the pandemic. The economy should bounce back in July, August and September as closed businesses resume operations, Treasury Secretary Steven Mnuchin said in a TV interview. The S&P 500 has baffled many investors by rebounding 27% since March 23, despite an unprecedented freeze in global economic activity and an oil-price crash, a divergence that makes some investors skeptical the gains can continue. |
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| PHOTO: NAM Y. HUH/ASSOCIATED PRESS |
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| Supply Chain and Logistics |
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| Kimberly-Clark has responded to demand for household goods such as its Scott tissue by limiting the number of products it makes. PHOTO: ANNA DRIVER/REUTERS |
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| PHOTO: JASON LEE/ASSOCIATED PRESS |
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“There’s this fiction out there that people think we’re going to have this massive immune workforce that is able to go back to work. It’s more likely that we’ll just have to rethink the way the workforce is designed for the next year or year and a half until there is widespread vaccination.” | —David Reich, president of Mount Sinai Hospital in New York |
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| Marketing and Customer Experience |
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Even after one experiential store chain lets customers back in the doors, smaller locations will at least initially allow only a single customer, or a group of people looking for the same product, inside at once. (The Experience Report) |
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American farmers are dumping milk, throwing out eggs and plowing under healthy crops as the pandemic disrupts supply chains. History shows that national shocks have a way of expanding the role of government in lasting ways. This one is looking like no exception. Carnival Corp., the largest cruise-line operator in the world, asked hedge funds for cash before central-bank intervention reopened bond markets and the company raised almost $6 billion. The leaders of Netflix, Snap, Coca-Cola and other companies discuss the changes occurring during the Covid-19 pandemic. |
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