Acting Navy Secretary resigns after ousting captain, calling him “stupid”

Enlarge / Thomas Modly, now the former acting secretary of the Navy, at a Senate Armed Services Committee hearing in Washington, DC, on Tuesday, Dec. 3, 2019. (credit: Andrew Harrer | Bloomberg | Getty Images) Acting Secretary of the Navy Thomas Modly resigned today amid blowback for his handling of a coronavirus outbreak aboard the …

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Verizon refuses to give DSL users its low-income deals during pandemic

Enlarge / A Verizon FiOS truck in Manhattan on September 15, 2017. (credit: Getty Images | Smith Collection | Gado) Verizon is one of numerous home-Internet providers offering temporarily free service to low-income households during the pandemic. But a big restriction on Verizon’s offer makes it impossible for many people to get the deal. The …

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Equinox told contractors not to expect payments until further notice amid coronavirus outbreak

Equinox sent letters to contractors last month, informing them that the luxury fitness company would not be fulfilling invoice payments until further notice. The New York-based company confirmed the action to Fortune on Tuesday, pointing toward the coronavirus outbreak and subsequent shutdowns affecting businesses around the world as contributing factors. “Equinox has temporarily halted payments …

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Why the U.S. shouldn’t let China dominate the digital currency race

Eventually, when the coronavirus crisis ends, a vital question will hang over the world financial system: What comes next? As with the 2008 financial crisis, a domino effect will expose flaws in the system. As panicked markets prompt central banks to deliver unprecedented monetary stimulus, a vicious cycle of competing currency depreciations will ensue, benefiting …

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Jack Dorsey pledges $1 billion of Square stake for coronavirus relief

Jack Dorsey is devoting $1 billion of his stake in Square, the payments firm he co-founded, to help fund the coronavirus relief effort. “After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI,” Dorsey said Tuesday in a tweet, referring to universal basic income. The pledge represents about 28% …

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As work from home becomes the norm, companies get more comfortable hiring fully remote employees

Working from home for the past few weeks? You might have a serious case of cabin fever by now. Or then again, you may have found you prefer it to your former routine. If you’d rather not go back to the office even after the pandemic is finally over, this might be the moment to …

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How Ralph Lauren jumped into the coronavirus fight to make medical masks and gowns

While lead times for making new Ralph Lauren clothes and accessories are typically measured in months, this week two new looks for the fashion company went into production at breakneck speed: protective masks and isolation gowns for medical workers on the front lines of the coronavirus pandemic. Subscribe to Outbreak, a daily roundup of stories …

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