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News Roundup
This is a roundup of news that I have come across during the day. Here you can read about how coronavirus impact might be permanent, lying on a credit card application, traveling again, Marriott posts huge loss, Amazon looks to turn malls into giant fulfillment centers and Google turning Android Phones into seismometers.
Scars Inflicted on Travel Are Looking Permanent
Prior to the pandemic, the wealthy never traveled so well. With the economy on solid ground and financial assets soaring to new highs, investment in the travel industry boomed. According to the World Travel and Tourism Council, one in 10 workers worldwide, or 330 million in all, owed their jobs to the travel and tourism industry. In the five years through 2019, the sector was responsible for one in five jobs created globally.
Lying on a credit card application
It can be tempting to stretch the truth when you fill out a credit card application so you can acquire a better home, a newer car or a bigger loan, for example, but lying on your credit card application can have serious consequences.
Here’s where U.S. vacationers would be willing to travel again
Reliably clean hotels and airplane cabins or a proven Covid-19 vaccine would be enough to make about half of Americans comfortable enough to travel again. Most of them would vacation within U.S. borders, meanwhile, and stick to hotels and resorts for lodging. That’s according to a recent survey of 4,300 travel insurance customers of Richmond, Virginia-based insurer Allianz Travel.
Marriott posts bigger-than-expected loss as virus hits bookings
U.S. hotel operator Marriott International posted a bigger-than-expected quarterly loss on Monday, as the coronavirus crisis curbed global travel and led to a plunge in room bookings. Marriott’s shares, down 40.3% this year, fell 3% in premarket trading as the company also reported an 84.4% plunge in revenue per available room (RevPAR) – a key performance measure for the hotel industry.
Amazon looks to turn malls into giant fulfillment centers
Amazon is in talks with Simon Property Group to turn empty retail space into Amazon warehouses that process and ship online orders, The Wall Street Journal reported on Sunday. As part of the deal, Amazon could take over anchor department-store spaces previously occupied by Sears and JCPenney, both of which have filed for bankruptcy and closed dozens of stores in recent months. Simon is pursuing an acquisition of JCPenney, which would grant it more control over how those store spaces are used, The Journal reported.
Google is turning Android Phones into seismometers
Google’s new worldwide earthquake detection system and the new earthquake alerting feature is launching for California. With this, Google is essentially turning your Android phone into a seismometer to create what the company says is “the world’s largest earthquake detection network.”
