From Breakingviews: COVID-19’s effect on America’s small businesses is probably even more pronounced when those businesses are minority-owned
New York Rangers left wing Pavel Buchnevich in action during the game between the Rangers and the Stars at the American Airlines Center in Dallas on Mar. 10, 2020. Jerome Miron-USA TODAY SportsTHE ICEMEN COMETH. Putting hockey players back on the ice can help unthaw America’s professional sports business. On Tuesday, National Hockey League Commissioner Gary Bettman announced a multi-phase plan for a modified 24-team playoff. And pucks could drop at official training camps as early as July 1.
It’s a big opportunity for direct-to-consumer products including HBO Max. But at $15 per month, it’s one of the more expensive services on the block – two bucks more than Netflix’s standard offering and twice the sticker price on Disney+. The timing is off, too. Rivals saw big bumps in subscriber numbers thanks to Covid-19 stay-at-home rules. Now lockdowns are easing and summer is here. AT&T may find there are fewer couch potatoes than it hopes for.
DERAILED. Amtrak, America’s perennially beleaguered passenger-rail operator, is asking for an extra $1.5 billion of government support to get it through Covid-19. The provider of lucrative Washington-New York-Boston services also runs a network of often slow and money-sucking routes elsewhere. As recently as February, Amtrak was on course for its first-ever breakeven year, boss Bill Flynn told officials in a letter on Monday.
The group proposed a series of measures, including the adoption of sexual positions that limit face-to-face contact between the client and service provider; the ventilation of rooms for at least 15 minutes and washing of bed linens after each session; and the recording of customer contact data for tracing purposes for four weeks. For now, the Swiss Federal Council remains schtum on the matter.
TURN OF THE MAC. Attempts by Italy’s UBI Banca to fend off a hostile bid from larger Intesa Sanpaolo are verging on the surreal. The mid-sized Italian lender’s board on Tuesday said the takeover, launched in February, should be declared void because of the ensuing pandemic. UBI argues that Covid-19 is a “material adverse change” which invalidates the offer. It has filed a lawsuit and a complaint with market regulator Consob.
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