THE MAGIC'S BACK: Hong Kong Disneyland officially reopens, with social distancing measures in place and only limited attendance allowed at one of the pillars of Hong Kong’s crucial tourism industry.
has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus.— Hong Kong Disneyland officially reopened on Thursday after a major drop in coronavirus cases in the Chinese territory. Advance reservations will be required and only limited attendance will be allowed at the park, one of the pillars of Hong Kong’s crucial tourism industry.
— Delta Air Lines says more than 40,000 of its 91,000 employees have agreed to take unpaid leave of up to a year, which along with a “moderate” increase in ticket sales is helping the airline cut its cash burn rate to $30 million a day by the end of this month. That is $10 million a day less than Delta forecast a week ago.
— The virus outbreak has officially ended the long run of job growth at U.S. airlines. The Transportation Department said Thursday that employment at the nation’s largest 23 passenger airlines fell 6.7% from mid-March to mid-April, and dropped 4% or 18,000 jobs, from a year earlier. It was the first time in seven years that airline jobs fell compared with a year earlier.
Online spending in the U.S. grew by 93% year-over-year in May, according to Mastercard SpendingPulse, which measures retail sales across all payment types including cash and check.— Greece’s government has announced a new system of fines and penalties for businesses that are found to be violating regulations imposed to limit the spread of the coronavirus.
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