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Twitter freezing hiring and cutting costs as execs depart

A person in a mask approaches the New York Twitter offices after they announced they will close their re-opened offices effective immediately in response to updated CDC guidelines during the outbreak of the coronavirus disease (COVID-19) in Manhattan, New York City, U.S., July 29, 2021. Twitter is pausing most hiring this week as two executives are leaving the company, a spokesperson confirmed on Thursday. The news comes as billionaire Elon Musk seeks to complete his $44 billion deal to buy the company and take it private. Head of consumer Kayvon Beykpour and revenue product lead Bruce Falck are leaving the company, the spokesperson confirmed. Reuters earlier reported that CEO Parag Agrawal told employees the news in an email.

cnbc.com

McKinsey agrees to pay nearly $600M over opioid crisis

The global business consulting firm McKinsey & Company has agreed to a $573 million settlement over its role in the opioid crisis, according to a person with knowledge of the deal. (AP Photo/Toby Talbot, File)The global consulting firm McKinsey & Company agreed to pay nearly $600 million for its role in advising businesses on how to sell more prescription opioid painkillers amid a nationwide overdose crisis. Washington's attorney general announced a separate $13.5 million deal and West Virginia announced a $10 million settlement with the New York-based company. On a video call with journalists Thursday, North Carolina Attorney General Josh Stein said that McKinsey worked for Purdue for 15 years. AdIn a statement, New Jersey Attorney General Gurbir Grewal said that McKinsey would pay out more than it made advising companies on opioid sales.

Airbnb hopes to raise up to $2.6B in mid-December IPO

Airbnb hopes to raise as much as $2.6 billion in its initial public stock offering this month, betting investors will see its home-sharing model as the future of travel. It’s a remarkable comeback for the company that delayed its IPO when the coronavirus pandemic crippled global travel in the spring. Airbnb has more than 7 million listings on its platform, run by 4 million hosts worldwide. But Airbnb has recovered more quickly than traditional hotels as travelers seek whole homes in rural areas far from crowds. Airbnb said it also expects more business people will book vacation rentals, since many can now work from home.

Another restaurant chain, Friendly's, hits wall in pandemic

– Friendly's Restaurants, the 85-year-old East Coast dining chain known for its Fribble milkshakes and ice cream sundaes, is filing for bankruptcy protection. It joins a growing list of well-established restaurant chains that are failing due to an unchecked pandemic in the United States. FIC will sell essentially all of its assets to the restaurant company Amici Partners Group. The pandemic has hit the restaurant sector very hard, particularly chains like Friendly's that rely on people sitting down at tables. Traffic at full-service restaurant chains in the U.S. plummeted 48% in the April-June period, according to NPD Group.

Hundreds of Regal, Cineworld movie theaters to close

Cineworld Group Plc said Monday that it would close 536 Regal cinemas in the U.S. and 127 Cineworld and Picturehouse venues in the U.K. this week, affecting some 45,000 employees. Last week groups representing theater owners, movie studios and directors issued a plea to U.S. lawmakers to provide relief to ailing movie theaters. Cineworld had also been highly leveraged, having largely funded its acquisition of Regal Entertainment in 2018 through debt. Greidinger hopes that that might be settled before Christmas, in time for “Wonder Woman 1984.”“I will be the happiest man to open the cinemas for ‘Wonder Woman," he said. “But we will also need to look beyond ‘Wonder Woman’ to January and February.”

Ready to vote but need a ride? This company says it’s stepping in to help

And just like every election year, it’s of the utmost importance that citizens cast their ballot in this year’s election. If you’ve registered but are already concerned about how you will make it to a polling station, the ride-sharing company Uber wants to step in and lend a hand. As Election Day approaches, and as part of its “Get Out the Vote” campaign, the company aims to help people find their polling location, as well as offer discounted rides to and from the poll during early voting. “As we look ahead to this year’s election, we are committed to doing our part to make sure every citizen has access to vote,” Uber CEO Dara Khosrowshahi said. Uber officials said as Election Day nears, people will begin to have access to important information in the app.

Create one-of-a-kind memories and turn your living room into glamping grounds

SAN ANTONIO – Did you know there’s a company that creates custom sleepover parties with tents? Sleepover Envy can customize and do any theme or set up - your imagination is the limit. Or maybe you’d rather go glamping and have a spa station for a group of fabulous girls. 8 Texas treehouses you can rent for the weekendSleepover Envy uses a combination of handcrafted tents and custom decor to help create memorable experiences for both kids and adults. Contact information for Sleepover Envy can be found on their Facebook page.