Author: Jimmy Aki

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works. jimmy@moneycheck.com

24 Hour Fitness Inc. appears to have been the latest casualty of the coronavirus pandemic, as the company is now getting ready to shut operations down. The company announced that it would be filing for Chapter 11 bankruptcy reorganization earlier this week. An official blog post from the company revealed that it had also secured a $250 million funding lifeline that will help it reopen some of its locations. Significant Problems Trailed the Company The funding will allow the firm to keep the lights on in some of its locations across the country. However, this will come at a price…

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With airlines still in the beginning phase of returning to work, several top industry players have been taking precautions. United Airlines announced earlier this week that it would require flyers to take a health assessment test before they board its flights. United Isn’t Taking Any Chances According to a press release published yesterday, the company explained that passengers would face various health questions as they check-in for their flights. The travelers will have to fill a checklist that will prompt them to confirm not being diagnosed for the virus within 21 days. The health check will also seek to verify that…

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The on-demand food delivery space is getting a significant consolidation as European company Just Eat Takeaway has announced a deal to acquire Grubhub in the United States. According to a press release published yesterday, Just Eat Takeaway is expected to work through the details and finalize a $7.3 billion acquisition by early 2021. The Making of a Global Food Delivery Giant The deal will undoubtedly be a significant undertaking. As Just Eat Takeaway explained in its press release, both firms’ combined strength will see them process orders for over 70 million global users in a year. The press release also…

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Fitness company CrossFit has witnessed a slew of sponsorship withdrawals after its founder, Greg Glassman, made some controversial statements. Glassman had mocked the current anti-racism protests that have gripped the country over the weekend, Forbes reports. After his statement sparked outrage, several of the company’s partners immediately cut ties and bailed on it. The Tweet that Could End the Company Per the report, Glassman had replied to a tweet from the Health Metrics and Evaluation, which called racism and discrimination public health issues. Quite insensitively, he called it “Floyd-19,” essentially mocking people who had been protesting the death of Minnesota…

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Tesla and SpaceX chief executive Elon Musk is taking another Twitter stand. This time, he’s calling for the breakup of e-commerce giant Amazon. Yesterday, the tech genius responded to a tweet from Alex Berenson, a former editorial writer and reporter for the New York Times. Berenson had shared a picture of an email from Amazon’s Kindle Direct Publishing service. All this Fuss for a Book? As the screenshot showed, Amazon informed him that they had taken down his book, “Unreported Truths about COVID-19 and Lockdowns Part 1.” Amazon’s excuse was that his book had violated its guidelines, as it wasn’t…

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Popular sports retail company Dick’s Sporting Goods has reported its earnings and revenues for the first quarter of the year. While many believed that the company would suffer some losses – like just about every retail company – the firm appeared to have had an even worse quarter than analysts expected. Pandemic-Hit Operations Aren’t a Surprise As the earnings report showed, Dick’s made up to a 30 percent decline in same-store sales for the first quarter. The report isn’t entirely surprising, as the coronavirus pandemic forced retail firms to shut their locations and lose a great deal of business. However,…

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The riots flooding the United States in response to the killing of George Floyd have continued into this week. With no signs of stopping, they appear to be forcing some big-ticket shops into making changes. Walmart has now confirmed that it would strip the gun racks in its stores as a response to the protests. Massive demonstrations have broken out across several states in the past week. Given the track record of these protests turning violent, the retail giant is working to minimize casualties. New Protocols for Gun Shoppers Walmart stores would no longer offer guns on the shopping floor…

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Walmart-backed Flipkart has suffered a significant blow to its business and hopes of expansion as the government recently blocked its foray into the food retail space. Earlier this week, reports confirmed that India’s Department for Promotion of Industry and Internal Trade told Flipkart that its move into the country’s food retail business was against its regulatory guidelines. Flipkart Suffers a Crushing Blow Citing a source close to the matter, TechCrunch explained that the department, which forms a part of India’s Ministry of Commerce and Industry, has blocked Flipkart’s proposed expansion, although it failed to give any further reasons why. The…

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Retailers across several states have seen their revenues and businesses disrupted, as a wave of protests rocks the United States. Last week, protesters gathered across Minnesota to demonstrate after the brutal killing of resident George Floyd at the hands of several police officers. The protests have now spread to several parts of the country, and several companies have had to restrict their services. Protests Rock Amazon’s Deliveries Earlier this week, reports confirmed that several big-box retailers had either closed their locations or adjusted working hours in states where protests have become rampant. According to a report from Bloomberg yesterday, one…

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Despite the downturn from the coronavirus pandemic and lockdown orders, electric vehicles are expected to see surges in sales soon. The forecast was shared in a report from CNBC last weekend. Citing estimates from EV and battery research firm Cairn Energy Research Advisors, the news source predicted that electric vehicle sales should spike significantly in 2021. Europe and China are the New Frontiers As CNBC’s report explained, several countries have been investing in initiatives to get their citizens to purchase electric vehicles going forward. This should provide more of an incentive for customers to respond positively, and subsequently, a massive…

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Alibaba’s global shopping and retail arm AliExpress is gearing up for a significant international expansion. Like other firms looking to expand internationally, the firm is recruiting digital-savvy help. Bloomberg reported that the service is recruiting over 100,000 social media influencers. The firm is reportedly hunting for as much as 100,000 influencers on Instagram and TikTok especially. Connecting Influencers with Brands Alibaba is one of China’s biggest tech firms, with the firm controlling a significant stake of the company’s online shopping and retail market. The company is looking to expand beyond its home country’s shores, hopefully, to compete with industry behemoths…

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With various aspects of the country reopening and life gradually getting back to normal, several firms appear to have embraced the new mode of working for good. The latest amongst these firms is the retail giant Walmart. CNBC reported that the firm has indicated a reluctance to let workers – who have hitherto been working remotely – to resume work physically, and could continue to do so for the foreseeable future. Office Spaces Are Suddenly Less Important As the news report confirmed, Walmart sent an internal memo to its workers on Thursday explaining their new take on office spaces. Global…

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