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1. Major US Employers Relax Mask, Vaccine Requirements
As the U.S. Centers for Disease Control and Prevention have updated health guidelines regarding COVID-19, many large employers in the U.S. have relaxed their vaccine and indoor masking requirements, the Wall Street Journal reports.
JPMorgan Chase & Co. told its U.S. employees last month masking would be voluntary for vaccinated and unvaccinated employees at its corporate offices, but it does mention it could require masks again if there is a surge in cases, the article states. Verizon Communications relaxed its mask requirements at many of its offices, but it still requires those in areas with high community transmission to continue wearing masks regardless of vaccination status.
2. Airlines Cancel, Delay Thousands of Flights Over Weekend
Storms in Florida and technology issues at Southwest Airlines led to thousands of travelers stranded across the U.S. over the weekend, USA Today reports. Airlines canceled more than 3,400 flights and delayed 8,800 flights.
“The flight woes come during the busy spring break travel season and at a time when travel is surging because of pent-up demand from the pandemic,” the article states.
3. Noble’s Mit Shah Talks Joint Venture Deal With Host Hotels
Noble Investment Group CEO Mit Shah said his company’s joint venture with Host Hotels & Resorts was about the customer of the future, reports HNN’s Dana Miller.
"As we think about the future of our industry, one of the things that we all recognize, is that if we found ourselves here in this exact moment in time five years from now, what would seem obvious in that point in time that we should be doing today?" Shah asked during an interview at the Hunter Hotel Investment conference.
4. Economists Keep Eye on Inverted Yield Curve As Recession Warning
Economists watching the short-term and long-term interest rates saw the differential between the two-year and 10-year U.S. Treasury notes inverted late last week, a possible signal of an upcoming recession, the Wall Street Journal reports.
“This is typically a sign that bad times are ahead, a recession or at least a slump is expected,” said Steven Englander, an investment strategist at Standard Chartered Bank. “The market seems convinced this is going to end in tears.”
Researchers at the Federal Reserve, however, have argued that the relationship of rates for less than two years more accurately measured the risk of a recession, the article states.
“They compare current three-month Treasury-bill rates to market expectations for three-month rates 18 months in the future,” the newspaper reports. “Using that approach, recession alarms aren’t ringing. Short-term rates are much lower than expected rates 18 months from now.”
5. Restaurants Attempt to Make Temporary Outdoor Dining Permanent
Outdoor dining has helped many restaurants stay open during the coronavirus pandemic, but many of those outdoor accommodations were considered temporary. Now many restaurants are trying to make them permanent, and they’re finding it a task easier said than done, the Wall Street Journal reports.
While city governments have been supportive of keeping these businesses running, officials have to balance their needs against neighbors’ concerns over noise and rodents as well as having enough funding to ensure the outdoor dining is safe, clean and accommodating to people with disabilities.