US borrows big, light beer booms in stay-at-home economy
May 05, 2020
| Current events
Meal kits a recipe for success during pandemic
After several years of substantial losses and doubts over their ability to turn a profit, the meal kit industry has seen a resurgence as COVID-19 keeps people at home. Blue Apron has reported while Home Chef has reported.
Uber to require drivers to wear facemasks
In a move to increase ridership and improve safety after weeks of cratering usage, Uber will require all drivers to wear facemasks while transporting passengers. While no official transition date has been announced, the change is anticipated in "the coming weeks."
US to borrow nearly $3 trillion in Q2
The next time a friend reminds you that you owe them $20, remind them that the US Treasury announced today that they'll be borrowing an estimated $2.99 trillion in the second quarter of 2020, which would be the largest amount ever borrowed for an entire physical year on its own.
Beer sales light up while people stay home
While alcohol sales have trended upward throughout the safer-at-home orders that still cover most of the US, one surprisingly big beneficiary has been light beer sales, with brands such as Busch Light and Miller getting 44% and 15% bumps in sales, respectively
J. Crew goes B. Rupt
Preppy polo purveyor J. Crew filed for chapter eleven bankruptcy Monday morning, spelling a possible end for the 73 year-old retailer. While the nail in the coffin may have been the coronavirus, analysts have noted declining sales and substantial losses leading up to the decision.