A daily recap of major events and headlines affecting the market with individual investors in mind.
- FedEx revenue jumps as pandemic drives e-commerce bounce. U.S. package delivery company FedEx posted a 13.5% rise in quarterly revenue on Tuesday, boosted by an increase in domestic residential shipments during the COVID-19 pandemic.
- Apple and Singapore will reward Apple Watch owners for healthy activity. Singapore residents with an Apple Watch can use a new LumiHealth app to earn rewards of up to $380 Singapore dollars about U.S. $280 for activities like meditation, walks, swimming, better quality sleep, as well as public health actions like getting immunized.
- At least 24 million students could drop out of school due to the coronavirus pandemic, UN says. In places where there are now or only few new cases of the virus, “the decision to close schools should be a last resort,” WHO Director-General Tedros Adhanom Ghebreyesus said.
- Amazon is rapidly adding planes to its air fleet, inching closer to UPS and FedEx. Amazon said in June that its air fleet now totals about 70 planes, up from a total of 50 in Feb. 2019.
- Square launches payroll feature that could boost its banking business through the Cash App. Square is letting some small business employees get a portion of their earned wages ahead of time.
- Nearly one in six restaurants in the U.S., or about 100,000 restaurants, are closed either permanently or long-term due to the coronavirus pandemic, a new survey by the National Restaurant Association or NRA has shown. The survey, which comes six months after the first shutdown of restaurants for the pandemic, also found that nearly three million restaurant employees are still out of work.
- For the last 11 weeks, public attitudes about leisure activities, like going to the movies, hasn’t moved significantly, a warning that consumer habits are not returning to pre-pandemic normalcy.