Friday on Wall Street, the S&P 500 ended a wobbly day down 0.6% at 3,097.74 after mounting worries about the rising coronavirus infections undercut an early rally.
The Dow Jones Industrial Average dropped 0.8% to 25,871.46, while the Nasdaq composite inched up by less than 0.1%, to 9,946.12.
VIRUS OUTBREAK-NEW YORK
From shops to dining out, NYC reopening hits ‘biggest piece’
NEW YORK (AP) — New York City hits a key point today in trying to rebound from the nation’s deadliest coronavirus outbreak.
For the first time in three months, New Yorkers will be able to dine out, though only at outdoor tables. Shoppers can once again browse in the city’s destination stores, shaggy heads can get haircuts and kids can climb playground monkey bars, instead of their apartment walls. Office workers can return to their desks, though many won’t yet.
Today marks just the second of four reopening phases, but Mayor Bill de Blasio calls it “the single biggest piece of our economy.”
VIRUS OUTBREAK-CANNERY WORKERS
150 cannery workers forced into hotel quarantine without pay
LOS ANGELES (AP) —A lawsuit says about 150 seasonal workers hired by a salmon cannery in Alaska are being forced to quarantine without pay at a hotel in Los Angeles after three of them tested positive for the coronavirus.
According to the lawsuit filed Friday in San Francisco Superior Court, the workers, most of them from Mexico and Southern California, were hired by North Pacific Seafoods to work at its Red Salmon Cannery in Naknek, Alaska.
Attorney Jonathan Davis tells the Los Angeles Times that instead, they have been stuck at the Crowne Plaza LAX Hotel since June 10.
Hundreds test positive at Tyson Foods plant in Arkansas
ST. PETERSBURG, Fla. (AP) — Tyson Foods is looking into reports that China’s customs agency has suspended poultry imports from a Tyson facility in the United States after coronavirus cases were confirmed among its employees.
A Tyson spokesman said Sunday that the plant in question is in Springdale, Arkansas. The spokesman says all global and U.S. health organizations agree that there is no evidence to support transmission of COVID-19 associated with food. The announcement out of China Sunday gave no details of the quantity of meat affected.
On Friday, Tyson Foods announced the results of coronavirus testing at its facilities in Benton and Washington Counties, Arkansas, and said that about 95 percent of employees who ultimately tested positive for the virus didn’t show any symptoms. Of the 3,748 employees tested, 481 tested positive for COVID-19, and 455 were asymptomatic.
Production workers to strike against major Navy shipbuilder
BATH, Maine (P) — Production workers at one of the Navy’s largest shipbuilders have voted to strike. Machinists Union Local S6 said Sunday that its 4,300 members rejected a three-year contract proposed by Bath Iron Works in Maine, setting the stage for the first strike in two decades ti begin at midnight.
The company’s three-year proposal involved a 3% raise each year. But the union’s major issue wasn’t with wages, pensions or benefits. Instead, there were more than a dozen changes that the union considered to be concessions including hiring of subcontractors.
Bath Iron Works is a subsidiary of General Dynamics and employs 6,800 people.
With no students, small college town worries over future
UNDATED (AP) — What happens to a college town when the college students disappear? The small upstate New York city of Ithaca is finding out. Most of the almost 24,000 students at Cornell University and 6,200 more from Ithaca College effectively vanished in March when the pandemic struck, leaving behind struggling restaurants and shops.
Cornell students spend an estimated $225 million annually.
Locals still reeling from the outbreak and resulting exodus are wondering when — or if — things will get back to normal.
Even if Cornell opts for a return to in-class instruction as locals expect, they’re concerned about returning students holing up on campus more, or an autumn surge in COVID-19 cases sparking another sudden exit. Ithaca’s Mayor says possible international travel restrictions could also affect Cornell, where almost a quarter of the students come from other countries.
BERLIN (AP) — Germany payment service provider Wirecard AG says it has concluded that two accounts that were supposed to contain 1.9 billion euros ($2.1 billion) probably don’t exist, deepening troubles that last week prompted the resignation of its chief executive.
Wirecard was once regarded as a star of the growing financial technology sector, but its shares have fallen sharply from their peak after the company became the subject of reports about accounting irregularities.
Wirecard disputed the reports, which started in February 2019, and said it was the victim of speculators. Last week, the company disclosed that auditors couldn’t find accounts containing the 1.9 billion euros and postponed its annual report. On Friday, CEO Markus Braun resigned.