Work Week: Rethinking Office Plans

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A new surge in highly contagious coronavirus cases Delta variantshocked investors and companies last week. Fears on Monday about what the rise in cases, mostly among the unvaccinated, will mean for the global economic recovery S&P 500 records worst drop for months. But on Tuesday, stocks bounced back. Recent outbreaks are also prompting managers to reconsider their plans to reopen offices. Apple, for example, said it would delay its return-to-office plans. at least one month, by 1 October at the earliest. But not all companies came to the same conclusion. Morgan Stanley’s chief legal officer, the bank’s foreign law firms call your lawyers back to the office.

Summer games postponed for a year, started in Tokyo In a suppressed ceremony inside an almost empty stadium on Friday. Most residents of Japan and many public health professionals They were in favor of canceling the event, which took place during the state of emergency in the country after the spike in Covid-19 cases. Depends on who’s countingTokyo spent between $8 billion and $12.6 billion more than budgeted for the games. And At least 75 people with Olympic credentialshave tested positive for Covid-19 since arriving in Tokyo, including six athletes. expectation of a large decline Japan’s largest marketing firm decreased as sponsors canceled or reduced their campaigns and promotional events. However, NBCUniversal, which has the exclusive rights to broadcast the Games in the United States, still I expect a full engagement for advertisers. According to an estimate made by data research firm Kantar MediaAdvertisers are expected to spend $2.25 billion to appear alongside Olympic coverage, a 20 percent increase from the 2016 games in Rio de Janeiro.

Outbreaks of the highly contagious Delta variant so far has not prevented airlines from recovering. Customer spending on airlines briefly exceeded 2019 levels this month, according to Facteus, a research firm that tracks online payments. Ticket prices and the number of people screened by the Transportation Security Administration are also on the rise, with the Americas, Southwest and Delta all reporting second-quarter profits. (United reported a loss, but predicted a return to profitability in the third quarter.) But not all is clear for the aviation industry. None of these companies would come close to profitability without the $54 billion in federal aid helping pay employee salaries during the pandemic. Passenger volumes are still lower than they used to be, and carriers are struggling with delays and staff shortages as they skyrocket.

Stock trading app Robinhood will begin trading on the Nasdaq market by the end of the week. The company, which allows users to trade freely using an easy interface, plans to set its share price in a range that can reach up to $ 35 billion. Robinhood’s IPO plans are unusual as it will sell up to a third of its shares. directly to customers A movement that aims to keep the promise of “democratizing investment” through its application. The move can also bring volatility as there is no guarantee that these investors will not leave the shares immediately when the stock starts trading. But the greater risk for Robinhood may be a regulatory one. The company agreed to pay last year. $65 million fine on accusations that he misled customers about his business. Last month, he agreed to make a payment. $70 million fine facing issues such as misleading information and system outages, and almost 50 cases On the decision to block trading during the GameStop trading spree.

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