Business

Friday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Friday’s business headlines.

Disney

Walt Disney World will reopen in Orlando on Saturday.

Despite extensive safety procedures and approval from local government, there is still apprehension from potential guests and experts about whether Disney World should open its gates to the public.

The pandemic has devastated Disney. The company has been forced to shutter its them parks, push back its film opening and run ESPN without live games from major U.S. sports leagues.

Verizon

Since April, Verizon has been offering discounted internet rates to users who qualify for the US government-backed Lifeline program.

That program aims to keep connectivity affordable for low-income users during the ongoing coronavirus pandemic. Now the company says it’s extending those discounts through the end of the calendar year.

Each discount knocks $20 off the monthly cost of one of Verizon’s Mix & Match internet plans.

Coin shortage

Businesses across the United States are asking customers to pay with credit or provide exact change as the coronavirus pandemic continues to dirve a coin shortage.

The Federal Reserve pointed to the closure of “retail shops, bank branches, transit authorities and laundromats” as a major reason behind the coin shortage.

Debt

Americans’ credit card debt is shrinking rapidly during the pandemic, That’s a sharp contrast with the last two economic downturns.

The amount of consumer revolving credit, which is mostly cedit cards, plunged by another $24 billion in May, according to the Federal Reserve.

The dwindling pile of credit card debt is yet more evidence of how drastically consumer behavior is changing during the pandemic and this period of financial insecurity.

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