Disney Plans To Lay Off 28,000 Theme Park Employees In U.S.

Stock Alert: Westwater Resources Jumps To New 52-week High

Shares of Westwater Resources, Inc. (WWR) are surging almost 45 percent or $3.72 in Tuesday’s morning trade at $12.00, after touching a new 52-week high of $12.90.

Monday, the battery materials company applauded the President’s Executive Order signed on September 30, 2020, that addresses the threat to the U.S. domestic supply chain from reliance on critical minerals from foreign adversaries. The critical minerals referred to in the Order were previously identified by the Department of the Interior in May 2018, and include both natural graphite and vanadium.

Westwater Resources noted that the President’s declaration highlights the importance of the company’s plans to develop the Coosa Graphite Deposit in east-central Alabama. Westwater’s business plan for the Coosa Graphite Project over the next two and a half years is to develop a U.S. domestic supply for natural graphite for use in all types of batteries in the U.S.

Westwater Resources has traded in a range of $22.65 to $51.56 in the past 52 weeks.

European Economics Preview: Germany Factory Orders Data Due

Factory orders and construction Purchasing mangers’ survey data from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s factory orders data for August. Economists forecast orders to grow 2.6 percent on month, following a 2.8 percent rise in July.

At 3.00 am ET, industrial output figures are due from Hungary. Output is expected to fall 3.3 percent on year in August, after easing 8.1 percent in July.

At 3.30 am ET, Statistics Sweden releases industrial production and new orders for August.

In the meantime, Germany’s IHS Markit construction PMI data is due.

At 4.30 am ET, IHS Markit is set to issue UK construction PMI data for September. The index is seen at 54.0 versus 54.6 in August.

Trump Is Considering Televised Speech After Return From Hospital

President Donald Trump is considering a televised address to the nation after returning Monday from a three-day stay in the hospital for treatment of Covid-19, according to a person familiar with the matter.

Trump and his campaign have sought to cast his return as a triumphant presidential moment just weeks before Election Day, but recent polls have shown him falling badly behind his challenger Joe Biden.

On Monday, Trump issued a video on Twitter imploring Americans not to let the coronavirus “dominate” their lives, based on his personal experience receiving what is certainly the best medical care available to any human. Tuesday morning, he again erroneously likened the virus to the seasonal flu, a disease epidemiologists consider far less dangerous.

The coronavirus has killed more than 210,000 Americans since February.

The consideration of a televised speech was earlier reported by The New York Times.

One person was transported to a hospital while another was evaluated

A resident was sent to a hospital Monday evening after being rescued from a burning home in Denver. According to the Denver Fire Department, crews arrived at a “heavily involved” fire in the 2800 block of West Irvington Place in the neighborhood of Valverde.

They were able to rescue one occupant from the structure, who Denver Health Paramedics later transported to a hospital. Another resident was evaluated for smoke inhalation.

Daymond John To Host Virtual Black Entrepreneurs Day; Jamie Foxx, Gabrielle Union Among Participants

Shark Tank regular and FUBU founder Daymond John is set to host Black Entrepreneurs Day, a virtual event October 24 that will include John in conversation with business leaders including Shaquille O’Neal, Gabrielle Union, Jamie Foxx, Robert Johnson, LL Cool J and others. The event will also feature live performances from Chance the Rapper and Questlove, and a post-show DJ set by O’Neal.

The event streams live beginning at 7 p.m. ET on John’s Facebook page and be simulcast via LiveXLive across digital platforms includes YouTube, Twitch, TikTok and Twitter.

The idea behind Black Entrepreneurs Day, created in conjunction with Medium Rare and presented by Chase for Business, is to provide guidance and inspiration to the next generation of entrepreneurs. As part of that mission, it will award $175,000 through six NAACP Powershift Entrepreneur Grants during the event. Entrepreneurs and small business owners can apply here; submissions are open through October 12.

“The people and partners who have signed on to participate with me in this event are a testament for the need to create change within the Black community,” John said. “October 24th is the next step of many for supporting our entrepreneurs and is a tremendous endorsement that the world’s most celebrated entertainers, athletes, musicians, and brands will help lead the way.”

Disney Plans To Lay Off 28,000 Theme Park Employees In U.S.

Walt Disney Co. plans to lay off 28,000 theme park employees in U.S., as the coronavirus pandemic continues to affect its businesses.

The layoff is due to reduced capacity allowed in its parks reflecting social distancing requirements as well as California’s “unwillingness to lift restrictions that would allow Disneyland to reopen.”

The company said that the layoff will affect about 67 percent of part-time employees. However, the layoff reportedly will also comprise of executives and salaried employees.

Josh DÁmaro, chairman of Disney Parks, said in a statement that the company has made the very difficult decision to begin the process of reducing its workforce at its Parks, Experiences and Products segment at all levels, having kept non-working cast members on furlough since April while paying healthcare benefits.

“…We are talking with impacted employees as well as to the unions on next steps for union-represented Cast Members,” said Josh Dámaro.

Disneyland in California has remain closed since mid-March. Disney World in Florida, which also closed in March, reopened in mid-July with increased health and safety measures as well as reduced visitor capacity.