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NY Fed President: Gov’t Shutdown Could Hinder Economic Growth

PYMNTS

While the Fed has hinted that it has been adjusting its U.S. 18) that the shutdown has become a hindrance for the economy, Financial Times reported. of a percentage point for each week that the current situation continues. of a percentage point for each week that the current situation continues.

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Study: New COVID Restrictions Could Permanently Close A Third Of US Restaurants

PYMNTS

Census Bureau data indicating a seasonally adjusted decline in restaurant sales in October — the first slippage since the industry began to claw its way back from the damage inflicted by the first wave of shutdowns. We continue to support aggressive steps to protect the nation’s public health.

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Restaurant Operators Say New COVID Restrictions Could Permanently Close A Third Of US Restaurants

PYMNTS

Census Bureau data indicating a seasonally adjusted decline in restaurant sales in October — the first slippage since the industry began to claw its way back from the damage inflicted by the first wave of shutdowns. We continue to support aggressive steps to protect the nation’s public health.

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Another 4.4M Americans File Unemployment Claims

PYMNTS

The coronavirus pandemic continues to rock the country, as another 4.43 The advance seasonally adjusted insured unemployment rate of 11 percent was for the week ending April 11, reflecting an increase of 2.8 Labor Department reported on Thursday (April 23). The numbers are down about 810,000 from last week’s figures of 5.24

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Walmart Laying Off More Than 1,200 Workers Even As Digital Shopping Booms

PYMNTS

We are continuing on our journey to create an omnichannel organization within our Walmart U.S. Worker Adjustment and Retraining Notifications filed in Arkansas and New Jersey showed that 1,241 positions at Walmart would be cut. Also, Walmart was not hit with the store shutdowns that impacted other retailers.

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Strong Venmo and QR Code Payments Growth Help PayPal Score Record Q2 Earnings

PYMNTS

In an earnings season defined by diminished expectations amid the worldwide economic shutdown, PayPal not only beat analysts’ expectations Wednesday (July 29) but enjoyed a record quarter. Rainey said PayPal is also continuing efforts “around expanding the Pay with Venmo in an eCommerce setting.”. billion ($1.29

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Uber Eats Shuts Down In Several Markets

PYMNTS

This continues our strategy of focusing our energy and resources on our top Eats markets around the world,” the company said, adding that the moves will not affect its ridesharing business. . Uber said the shutdowns will take place by June 4, affecting “50 full-time roles.” and other countries.