3 September 2020

1) Major American companies are extending their ‘work from home’ policy, such as Google, Uber and Airbnb, until the summer of next year. The companies Zillow, Twitter, Facebook and Square have announce that employees can work from home indefinitely. Some companies are also offering stipends to employees for home office equipment as well as a $500 quarterly credit to use specifically on Airbnbs. This at home work policy remains in effect even after offices start reopening. The work at home is even spreading across the international scene with electronic giant Hitachi having 70% of its employees work permanently from home. Nationwide Insurance plans to downsize from 20 physical offices to just four with the majority of its employees continuing to work permanently from home. It’s looking more and more like working at home is becoming the norm for the future in America.

2) In a bid to counter the competition of e-commerce, the traditional department store giant Macy’s has started opening new, smaller stores away from the malls, reflecting a growing trend in the retail industry. The retail giant will test small-format Macy’s and Bloomingdale’s stores outside of underperforming malls, joining a growing trend in retail. The test stores will begin operation the fourth quarter of 2021 in Dallas, Atlanta and Washington DC. Many other major retailers are turning away from the mall format of retailing, leaving many malls withering on the vine, with foot traffic on the decline even before the Convid-19 crisis. This is another indication of a shift in American culture and society.

3) Fashion retailer Old Navy has announced they will pay their employees to work at polling stations comes election day. Each employee will be paid a full days wages for their poll work. Furthermore, store employees will have up to three hours of paid time-off on election day to vote. Old Navy joins other retailers such as Patagonia, PayPal and Levi Strauss & Co. to help in the national elections.

4) Stock market closings for – 2 SEP 20:

Dow 29,100.50 up 454.84
Nasdaq 12,056.44 up 116.78
S&P 500 3,580.84 up 54.19

10 Year Yield: down at 0.65%

Oil: down at $41.78

RICO RECKLEZZ & KYNNGG 2 YOUNG TALENTED ARTISTS : NO BEEF ONLY GETTING $$$$MONEY$$$$

rico-recklezz-kyyngg

By: Economic & Finance Report

Sammy BE aka Businessman Bassey aka Financier Bassey… Ur favorite businessman’s FAVORITE BUSINESS-MAN…

Just got off the phone with manager’s of  RICO RECKLEZZ (Chicago King Dave) & KYYNGG (Hotel). We were on a conference call, both bosses of the talented artists, spoke to each other as MEN & AS BOSSES DO…Resolving any issue that may have been presented online via respective online media sources and outlets…..

There is NO BEEF, NO HOSTILITIES, NOR ANY ILL WILL amongst KYYNGG & RICO RECKLEZZ; as a matter fact both may work or collab on something HUGE (*Donald Trump voice*) in the future……

Both managers of (Rico Recklezz & Kyyngg) exchanged phone #s & pleasantries, and something good may be brewing between both artists, maybe COLLAB, TOUR…. MAJOR $$$$$$ I envision.

Both artists Rico & Kyyngg know their value to the hip hop game and the massive following that both have online….

When it’s Economical and Financial, Economic & Finance Report is on it first.

Both young men are talented and will be doing phenomenal things in the future… U CAN BET ON IT……

Will Soon have interviews with RICO RECKLEZZ on the EFR Podcast

& the KYYNGG interview is on soundcloud now, link below….

Alright, Signing OFF This

INTERNATIONAL & GLOBAL MODERATOR, UNIFER & ARBITRATOR…

SAMMY BE “BUSINESSMAN BASSEY”

*SALUTE*-SB

TECHNOLOGY RIDE SHARE COMPANIES UBER & LYFT ARE EARNING WAY MORE THEN YELLOW/GREEN CABS & TAXIS!!!!!!!

uber-lyft

By: Economic & Finance Report

It seems that Uber and Lyft are crushing the competition in the customer service ride share industry, if that is even an industry to say the least; these two mega companies created and infiltrated ride share customer service. While they are in the forefront of picking up customers through their online apps, taxis and cabs in metro areas like NYC, Miami, Chicago, Atlanta, LA, San Francisco are taking hits and seeing major declines in customer pick ups.

Taxi and cabs are increasingly losing value as the ride share tech giants are taking over the industry, revenue for cabs have gone done drastically even though cabs pickup more people in metro areas such as New York City, statistics show  in NYC, taxis in the city picked 450k-500k passengers in April 2016 as compared to Lyft’s & Uber’s 200k passengers combined according to stats provided by Morgan’s Stanley. Though taxis and cabs picked up more people during that time period; their revenue did not come close to what Uber/Lyft  made during that month of April.

It looks like Lyft and Uber are giving cab/taxis a run for the their money, or  at least “a ride for their money”. -SB

 

MERCEDEZ BENZ US HEADQUARTERS IS RELOCATING… TO ATLANTA…

 

mercedez benz

By: Economic & Finance Report

 Luxury  car maker Daimler AG (Mercedes Benz) is relocating down to Atlanta. The US  headquarters in New Jersey will no more be in existence.

Executives and management indicated that the shift was provided because of lower costs, the tax breaks they would receive and the close proximity to their southern car plants which is located in the state of Alabama. 

The shifting of personnel is expected to occur in July 2015, which  will include 1,000 personnel movint to the suburbs of Atlanta.  Executives @ Daimler AG also indicated that the relocation made sense because of the dynamic presence of the south currently and the infrastructure renovation that Atlanta has be going through in the last few years, made the decision much easier to relocate US operations down south

-SB