PYMNTS
MAY 14, 2020
The New York City Council doesn’t want to let food delivery apps charge restaurants too much for delivery fees, as it voted to put a cap on the fees. On Wednesday (May 13), the Council voted to cap fees from the apps for restaurants at 15 percent. Other types of charges will be capped at 5 percent.
PYMNTS
APRIL 8, 2020
The loans will be forgiven for those who can prove they used the money to pay their employees during the shutdown. Among other top banks, Wells Fargo won its battle to lift the cap on its balance sheet (placed there in the wake of the fake account scandal from 2018), so it has resumed PPP operations as of Wednesday (April 8).
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PYMNTS
MAY 13, 2020
The pandemic’s shutdown of dine-in restaurants has been a plus for Grubhub , which saw a 24 percent increase in active diners, along with an 8 percent rise in gross food sales compared to the same time last year. In response, Uber and others have vowed to spend money on advertising to defeat the measure in the next election.
PYMNTS
NOVEMBER 15, 2020
Giant Food also recently put similar caps in place. In October, retailers were stocking up on the sorts items customers hoarded during the first round of pandemic-related shutdowns — masks, paper goods and other household items among them. Wegmans imposed limits on purchases of paper towels and some cleaning supplies.
PYMNTS
JUNE 2, 2020
As a result, some local government have looked at instituting caps on the fees allowed, at least until pandemic shutdowns are eased. COVID-19 shutdowns have increased the demand for meal delivery, with many restaurants otherwise shuttered around the country. However, coronavirus shutdowns have damaged the economy.
PYMNTS
JULY 2, 2020
Then to cap it off, Sears , which has become an afterthought in the pandemic retail nightmare, announced it is closing its iconic Hackensack, New Jersey location. in general and Southern states in particular unable to control the spread of COVID-19 at this point, the scenario of yet another retail shutdown looms. billion in Q1.
PYMNTS
MAY 12, 2020
It makes perfect economic sense, but politically it will be a struggle because the players insist it’s a salary cap in disguise,” Zimbalist told PYMNTS. For example, a player who earns $11 million annually would give up $67,901 for each lost game. But Andrew Zimbalist, a sports economist at Smith College, said the owners’ idea could work. “It
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