The U.S. economy grew at an unrivaled pace in the third quarter as the government poured out more than $3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal. This report produced by Jillian Kitchener.
Juicy Couture's founders started the company with just $200. Celebrity tabloid culture helped establish Juicy's tracksuits and accessories as an iconic part of early 2000s fashion. By 2008, Juicy Couture was making $605 million in sales. But following the Great Recession, the brand struggled to connect with consumers and was sold for a fraction of what it once generated in sales. Visit Business Insider's homepage for more stories. Following is a transcription of the video.
In just six months, the coronavirus pandemic has left more Americans unemployed than during the entire 18 months of the Great Recession. According to Business Insider, it's not just small businesses and local bars and restaurants that are feeling the pain. Travel and hospitality have taken a major hit. Besides major airlines, Uber and hotel giants Hilton and Marriott have announced furloughs.
iPhones are probably not the cleanest devices. But how can they be cleaned without getting damaged? Steve John told Business Insider how to clean an iPhone without damaging it. 1. Remove your phone case. 2. Turn the phone off and disconnect any attached cables. 3. Gently moisten your lint-free cloth with water. 4. Wipe lightly at the phone, applying minimal pressure. 5. Dry the phone with another clean cloth as soon as you are done.
Financial planner and Business Insider contributor Malik S. Lee says he's surprised when clients don't list their income as one of their most valuable assets. Can you support yourself and your family without an income? If not, it's a key asset--and you should protect it. Group long-term disability policies from employers typically cover 60% of your income. But according to Business Insider, that income is taxable and doesn't include bonuses or commissions.
Business Insider contributor Kevin L. Miller II has vowed to give his children a running start to their adult life, by building wealth for them as they age. Within weeks of bringing each of his children home from the hospital, they all had a 529 college savings plan and a custodial account. In fact, Miller says that by the time his son turns 18, he'll have 75 times more in savings than he had at that age. To build generational wealth, Miller says it must start with communication.
Business Insider reports that McDonald's franchisees are optimistic about the future of the business. The franchisees optimism is higher than it has been in years, according to Kalinowski Equity Research's quarterly survey. McDonald's sales have been driven by speciality meals and new items like Spicy McNuggets. The fast-food giant has also profited from sit-down restaurants' struggles.
On Tuesday, Amazon announced Tuesday that it's hiring 100,000 seasonal workers ahead of the holidays. The company said it's looking for workers across experience and skill levels to help pack and ship holiday orders. Business Insider reports that the new roles bring Amazon's total hiring to more than 400,000 since March. The company has faced a rise in online orders amid the coronavirus pandemic.
Kool And The Gang co-founder Ronald Bell has died aged 68, a representativefor the singer has said. Bell died on Wednesday at his home in the US VirginIslands with his wife by his side, his publicist said. No cause of death wasreleased.
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