Billionaires have had a pretty good pandemic. There are more of them than there were a year ago, even as the crisis has exacerbated inequality. But scrutiny has followed these ballooning fortunes. Policymakers are debating new taxes on corporations and wealthy individuals. Even their philanthropy has come under increasing criticism as an exercise of power as much as generosity.
One arena in which the billionaires can still win plaudits as civic-minded saviors is buying the metropolitan daily newspaper.
The local business leader might not have seemed like such a salvation a quarter century ago, before Craigslist, Google and Facebook began divvying up newspapers’ fat ad revenues. Generally, the neighborhood billionaires are considered worth a careful look by the paper’s investigative unit. But a lot of papers don’t even have an investigative unit anymore, and the priority is survival.
This media landscape nudged newspaper ownership from the vanity column toward the philanthropy side of the ledger. Paying for a few more reporters and to fix the coffee machine can earn you acclaim for a lot less effort than, say, spending two decades building the Bill and Melinda Gates Foundation.
$680 million bid by Hansjörg Wyss, a little-known Swiss billionaire, and Stewart W. Bainum Jr., a Maryland hotel magnate, for Tribune Publishing and its roster of storied broadsheets and tabloids like The Chicago Tribune, The Daily News and The Baltimore Sun.
Should Mr. Wyss and Mr. Bainum succeed in snatching Tribune away from Alden Global Capital, whose bid for the company had already won the backing of Tribune’s board, the purchase will represent the latest example of a more than decade-long quest by some of America’s ultrawealthy to prop up a crumbling pillar of democracy.
If there was a signal year in this development, it came in 2013. That is when Amazon founder Jeff Bezos bought The Washington Post and the Red Sox’ owner, John Henry, bought The Boston Globe.
“I invested in The Globe because I believe deeply in the future of this great community, and The Globe should play a vital role in determining that future,” Mr. Henry wrote at the time.
led a revival of the paper to its former glory. And after a somewhat rockier start, experts said that Mr. Henry and his wife, Linda Pizzuti Henry, the chief executive officer of Boston Globe Media Partners, have gone a long way toward restoring that paper as well.
Norman Pearlstine, who served as executive editor for two years after Dr. Soon-Shiong’s purchase and still serves as a senior adviser. “I don’t think that’s open to debate or dispute.”
From Utah to Minnesota and from Long Island to the Berkshires, local grandees have decided that a newspaper is an essential part of the civic fabric. Their track records as owners are somewhat mixed, but mixed in this case is better than the alternative.
Researchers at the University of North Carolina at Chapel Hill released a report last year showing that in the previous 15 years, more than a quarter of American newspapers disappeared, leaving behind what they called “news deserts.” The 2020 report was an update of a similar one from 2018, but just in those two years another 300 newspapers died, taking 6,000 journalism jobs with them.
“I don’t think anybody in the news business even has rose colored glasses anymore,” said Tom Rosenstiel, executive director of the American Press Institute, a nonprofit journalism advocacy group. “They took them off a few years ago, and they don’t know where they are.”
“The advantage of a local owner who cares about the community is that they in theory can give you runway and also say, ‘Operate at break-even on a cash-flow basis and you’re good,’” said Mr. Rosenstiel.
won a prestigious Polk Award for its coverage of the killing of George Floyd and the aftermath.
“The communities that have papers owned by very wealthy people in general have fared much better because they stayed the course with large newsrooms,” said Ken Doctor, on hiatus as a media industry analyst to work as C.E.O. and founder of Lookout Local, which is trying to revive the local news business in smaller markets, starting in Santa Cruz, Calif. Hedge funds, by contrast, have expected as much as 20 percent of revenue a year from their properties, which can often be achieved only by stripping papers of reporters and editors for short-term gain.
Alden has made deep cuts at many of its MediaNews Group publications, including The Denver Post and The San Jose Mercury News. Alden argues that it is rescuing papers that might otherwise have gone out of business in the past two decades.
And a billionaire buyer is far from a panacea for the industry’s ills. “It’s not just, go find yourself a rich guy. It’s the right rich person. There are lots of people with lots of money. A lot of them shouldn’t run newspaper companies,” said Ann Marie Lipinski, curator of the Nieman Foundation for Journalism at Harvard and the former editor of The Chicago Tribune. “Sam Zell is Exhibit A. So be careful who you ask.”
beaten a retreat from the industry. And there have even been reports that Dr. Soon-Shiong has explored a sale of The Los Angeles Times (which he has denied).
“The great fear of every billionaire is that by owning a newspaper they will become a millionaire,” said Mr. Rosenstiel.
Elizabeth Green, co-founder and chief executive at Chalkbeat, a nonprofit education news organization with 30 reporters in eight cities around the country, said that rescuing a dozen metro dailies that are “obviously shells of their former selves” was never going to be enough to turn around the local news business.
“Even these attempts are still preserving institutions that were always flawed and not leaning into the new information economy and how we all consume and learn and pay for things,” said Ms. Green, who also co-founded the American Journalism Project, which is working to create a network of nonprofit outlets.
Ms. Green is not alone in her belief that the future of American journalism lies in new forms of journalism, often as nonprofits. The American Journalism Project received funding from the Houston philanthropists Laura and John Arnold, the Craigslist founder Craig Newmark and Laurene Powell Jobs’s Emerson Collective, which also bought The Atlantic. Herbert and Marion Sandler, who built one of the country’s largest savings and loans, gave money to start ProPublica.
“We’re seeing a lot of growth of relatively small nonprofits that are now part of what I would call the philanthropic journalistic complex,” said Mr. Doctor. “The question really isn’t corporate structure, nonprofit or profit, the question is money and time.”
operating as a nonprofit.
After the cable television entrepreneur H.F. (Gerry) Lenfest bought The Philadelphia Inquirer, he set up a hybrid structure. The paper is run as a for-profit, public benefit corporation, but it belongs to a nonprofit called the Lenfest Institute. The complex structure is meant to maintain editorial independence and maximum flexibility to run as a business while also encouraging philanthropic support.
Of the $7 million that Lenfest gave to supplement The Inquirer’s revenue from subscribers and advertisers in 2020, only $2 million of it came from the institute, while the remaining $5 million came from a broad array of national, local, institutional and independent donors, said Jim Friedlich, executive director and chief executive of Lenfest.
“I think philosophically, we’ve long accepted that we have no museums or opera houses without philanthropic support,” said Ms. Lipinski. “I think journalism deserves the same consideration.”
Mr. Bainum has said he plans to establish a nonprofit group that would buy The Sun and two other Tribune-owned Maryland newspapers if he and Mr. Wyss succeed in their bid.
“These buyers range across the political spectrum, and on the surface have little in common except their wealth,” said Mr. Friedlich. “Each seems to feel that American democracy is sailing through choppy waters, and they’ve decided to buy a newspaper instead of a yacht.”
We don’t know exactly what Chrystia Freeland, Canada’s deputy prime minister and finance minister, will present when she becomes the country’s first woman to deliver a federal budget later this month. But the Liberal government has made it abundantly clear that economic and employment recovery will be its broad theme.
paints a dire picture for one group of workers whose employment is threatened by much more than the pandemic. It forecasts that as the world grapples with climate change, reduced demand for oil and gas will cause to 50 to 75 percent of 600,000 jobs in Canada’s energy sector to vanish.
Beata Caranci, the bank’s chief economist and the main author of the report, told me that while she anticipates the budget will include something for energy workers, the work to transition them to new jobs in the low carbon world should already be underway.
hollowing out of middle income jobs. Wealth and jobs, in turn, became concentrated in a handful of cities.
But in Canada the loss of manufacturing work was offset by well paying jobs in the expanding Canadian energy industry. The rise of fly-in, fly-out work, in which residents of Atlantic Canada and elsewhere commuted to jobs in the oil sands, spread those economic benefits around the country.
visited Canada regularly from 1951, Marilyn Berger writes that he “tried to shepherd into the 20th century a monarchy encrusted with the trappings of the 19th. But as pageantry was upstaged by scandal, as regal weddings were followed by sensational divorces, his mission, as he saw it, changed. Now it was to help preserve the crown itself.” And in Opinion, Tina Brown, author of the forthcoming book “The Palace Papers,” offers her assessment of the Duke of Edinburgh.
Canada is among the nations seized by vaccine envy.
Robert A. Mundell, the Nobel Prize winning economist who was born in Kingston, Ontario, has died. He championed the idea that low tax rates and easy fiscal policies should be used to spur economies, and that higher interest rates and tight monetary policy were the proper tools to curb inflation. Former President Ronald Reagan embraced Professor Mundell’s ideas. Their effects remain a matter of debate.
Vaccine passports might reopen the world. But Prime Minister Justin Trudeau is among those concerned fairness of a two-tier system for haves and have-nots.
A native of Windsor, Ontario, Ian Austen was educated in Toronto, lives in Ottawa and has reported about Canada for The New York Times for the past 16 years. Follow him on Twitter at @ianrausten.
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“Everywhere they tried, they were defeated,’’ Nelson Lichtenstein, a labor historian at the University of California, Santa Barbara, said of the unions. “Walmart would send teams to swamp the stores to work against a union. They are good at it.”
As with Walmart, labor leaders believed it was critical to establish a foothold at Amazon, which influences pay and working conditions for millions of workers thanks to the competitive pressure it puts on rivals in industries like groceries and fashion.
But the labor movement’s failure to make inroads at Walmart despite investing millions of dollars has loomed over its thinking on Amazon. “They felt so burned by trying to organize Walmart and getting basically nowhere,” said Ruth Milkman, a sociologist of labor at the Graduate Center of the City University of New York.
It was only a relatively small, scrappy union, the Retail, Wholesale and Department Store Union, that felt the election in Alabama was worth the large investment. As the votes were being tallied, Stuart Appelbaum, the union’s president, attributed the one-sided result to a “broken” election system that favors employers.
Amazon saw things differently. “It’s easy to predict the union will say that Amazon won this election because we intimidated employees, but that’s not true,” the company said in a statement. “Our employees made the choice to vote against joining a union. Our employees are the heart and soul of Amazon, and we’ve always worked hard to listen to them.”
Yet even as elections have often proven futile, labor has enjoyed some success over the years with an alternative model — what Dr. Milkman called the “air war plus ground war.”
The idea is to combine workplace actions like walkouts (the ground war) with pressure on company executives through public relations campaigns that highlight labor conditions and enlist the support of public figures (the air war). The Service Employees International Union used the strategy to organize janitors beginning in the 1980s, and to win gains for fast-food workers in the past few years, including wage increases across the industry.
With Covid-19 vaccinations accelerating, attention is turning to tools for people to prove that they have been inoculated and potentially bypass the suffocating restrictions used to fight the pandemic.
Though the idea is meeting some resistance over privacy and equity concerns, several types of coronavirus vaccination records, sometimes called “vaccine passports,” already exist, in paper and digital form. Hundreds of airlines, governments and other organizations are experimenting with new, electronic versions, and the number grows daily, although so far their use has been very limited.
Portable vaccine records are an old idea: Travelers to many parts of the world, children enrolling in school and some health care workers have long had to supply them as proof that they have been vaccinated against diseases.
But vaccine passports use digital tools that take the concept to new levels of sophistication, and experts predict that electronic verification will soon become commonplace, particularly for international air travel, but also for admission to crowded spaces like theaters.
“yellow card,” used for decades by travelers to show inoculation against diseases like yellow fever. But those are on paper, filled out by hand and fairly vulnerable to forgery.
The tool might have to address several variables: It is unclear how long inoculation lasts, there can be bad batches and the emergence of new variants of the virus are likely to require new vaccines. So in the long run, an electronic record might need to show which specific vaccine a person received, from which batch and when.
More than a dozen competing versions are already being developed and promoted.
using CommonPass, developed by the Commons Project, a Swiss-based nonprofit, with support from the World Economic Forum. Lufthansa passengers flying into the United States can also use it.
The same month, Singapore Airlines became the first carrier to make limited use of Travel Pass for people flying between Singapore and London, and will put it into wide use in May.
Also in March, New York State became the first government in the United States to implement a system, the Excelsior Pass, developed with IBM, which some venues have used to prove vaccination. The governors of Florida and Texas have vowed to block any such system in their states, calling it government overreach and an invasion of privacy.
Vaccine Credential Initiative, to develop a broadly agreed-upon set of open standards, meaning that the software underlying a verification system is transparent and it can adapt easily to other systems, while safeguarding privacy. The W.H.O. has a similar initiative, the Smart Vaccination Certificate.
But several companies are creating closed, proprietary systems that they hope to sell to clients, and some apparently would have access to users’ information.
One concern is that a profusion of systems might not be compatible, defeating the purpose of making it easy to check someone’s status.
Another objection is that any requirement to prove vaccination status would discriminate against those who can’t get the shot or refuse to, and there is lingering uncertainty about how well inoculation prevents virus transmission.
For those reasons, the W.H.O. said this week that it does not support requiring proof of vaccination for travel — for now.
As concerns about climate change push the world economy toward a lower-carbon future, investing in oil may seem a risky bet. For the long term, that may be true.
Yet for the moment, at least, oil and gas prices appear likely to continue to rise as the economy recovers from the pandemic-driven shutdown of millions of businesses, big and small.
These countervailing trends — increasing demand now and falling demand at some point, perhaps in the not-too-distant future — create a dilemma for investors.
The good news is that an array of traditional mutual funds and exchange-traded funds are available to help them navigate these uncertain waters. Some funds focus on slices of the industry, such as extracting crude oil and gas from the ground or delivering refined products to consumers. Others focus on so-called integrated companies that do it all. Some spice their holdings with some exposure to wind, solar or other alternative energy sources.
International Energy Agency forecast that oil consumption was not likely to return to prepandemic levels in developed economies.
“World oil markets are rebalancing after the Covid-19 crisis spurred an unprecedented collapse in demand in 2020, but they may never return to ‘normal,’” the I.E.A. said in its “Oil 2021” report. “Rapid changes in behavior from the pandemic and a stronger drive by governments toward a low-carbon future have caused a dramatic downward shift in expectations for oil demand over the next six years.”
alternative energy funds. Many enable investors to zero in on discrete segments of the industry.
The biggest holdings of the Invesco WilderHill Clean Energy E.T.F. are producers of raw materials for solar cells and rechargeable batteries or builders and operators of large-scale solar projects. The $2.9 billion fund yields 0.49 percent and has an expense ratio of 0.7 percent.
The First Trust NASDAQ Clean Edge Green Energy Index Fund focuses on applied green technology. Its biggest holdings are Tesla, the American maker of electric automobiles; NIO, a Chinese rival in that field; and Plug Power, which makes hydrogen fuel cells for vehicles. Also a $2.9 billion fund, it yields 0.24 percent and has an expense ratio of 0.6 percent.
The First Trust Global Wind Energy E.T.F., as its name suggests, targets wind turbine manufacturers and servicers, led by the Spanish-German joint venture Siemens Gamesa Renewable Energy and Vestas Wind Systems of Denmark, as well as operators such as Northland Power of Canada. This $423 million fund yields 0.92 percent and has an expense ratio of 0.61 percent.
BERLIN — Germany’s government plans to ask lawmakers to grant it stronger powers in order to introduce a nationwide lockdown as the country is gripped by a third wave of the coronavirus.
The country’s approach has so far been to have the governors of Germany’s 16 states agree to any nationwide pandemic policies. But as calls from public health officials have grown stronger for a new nationwide lockdown in recent weeks, Chancellor Angela Merkel has had trouble gaining all of the governors’ support.
The lawmakers’ new plan seeks overcome regional differences in how to curb the latest surge in cases. It will be put before Ms. Merkel’s cabinet next week, Ulrike Demmer, a spokeswoman for the chancellor, told reporters on Friday.
The law would spell out which restrictions would be imposed in areas with over 100 new cases per 100,000 residents over a period of seven days.
offered a public apology.
Speaking on national television, she then raised the idea of seeking Parliament’s support in consolidating her government’s powers to ensure that all states abide by the same rules. Germany has been wary of consolidating power in the central government since World War II, but several lawmakers have backed the idea for this specific circumstance.
“The aim here is to create uniform national rules,” Ms. Demmer said, adding that the law change would be put before cabinet on Tuesday.
The German authorities registered 25,464 new infections on Thursday, 3,576 more than a week ago. On Thursday, nearly 300 people died of the virus.
“There will be, once again, a couple of difficult weeks,” Health Minister Jens Spahn said on Friday, calling for a unified lockdown. “It is about not overburdening our health care system. It is about protecting human lives.”
A planned meeting between the chancellor and state leaders that was planned for Monday was canceled as part of the decision, Ms. Demmer said.
LONDON — He is the hyperbolic news anchor with an agenda, the disgruntled Meghan Markle skeptic vying for Piers Morgan’s job, the British aristocrat insisting he is simply middle class — and those are just a few of the characters in Munya Chawawa’s arsenal.
But during a Zoom interview last month, Mr. Chawawa, 28, speaking from his London apartment in a neon hoodie, was exploring his own persona.
“I make content because I need to express how I’m feeling about the world,” he said of his comedy. “You have to have some form of catharsis when the world throws stuff at you, otherwise you’ll just go crazy.”
Mr. Chawawa’s dry sketches about racism, classism and everyday life in Britain had already found an audience before the pandemic. But in lockdown, his potent combination of singing, comedy acting and rapping has helped establish him as a sardonic voice of progressive young people in an increasingly diverse nation who are unimpressed by elitism and skeptical of the establishment.
appears in promotions for Netflix U.K.
In such a year, “humor has been a much-needed tonic,” Mr. Chawawa said. And the string of successes has fueled an ambitious goal: “I’m working toward being one of the country’s most respected satirists.”
Satire, to Mr. Chawawa — whose comedy heroes are John Oliver, Andy Zaltzman and Sacha Baron Cohen, among others — feels “like a superpower.” That’s not only because of the challenge of execution but also because of satire’s ability to extract humor from situations that are not supposed to be funny at all, he said.
“Anything you laugh at can’t haunt or hurt you as much as it used to do,” he said.
Given the state of the world today, there is plenty of material for him to work with.
When critics called food packages for poor children too meager, Mr. Chawawa was ready with a sketch about a wealthy lawmaker scrambling to respond: “We can’t feed them but we could put them in a film — ‘The Hungrier Games.’” He has parodied British journalists brainstorming headlines about the Duchess of Sussex using the game Cards Against Humanity (“Meghan Kidnapped Peppa Pig,”) and a security guard letting rioters into the U.S. Capitol upon hearing they are white: “You’re already wearing your pass! It’s called white privilege.”
debate over U.K. drill — a subgenre of hip-hop music that British authorities have tried to censor, blaming it for a rise in knife crimes in London.
For many young Black men and women, drill was an important form of self-expression, Mr. Chawawa said, giving voice to the frustrations and realities of life in a period of austerity. Mr. Chawawa said he was disturbed by the appropriation of the genre, with “posh white kids singing the lyrics” as it filtered into private schools.
Born in Derby, England, Mr. Chawawa spent his childhood in Zimbabwe, his father’s birthplace, before his family moved to a small village near Norwich, England. His first exposure to comedy was through his grandfather, whose jokes over the dinner table made him the center of attention.
In England, where his was one of the few families of color in the area, Mr. Chawawa stifled his natural extroversion, which had been encouraged in Zimbabwe. “Slowly, I stopped putting my hand up,” he said.
In college, he studied psychology but found himself spending all his time in the student radio hub. He also worked as a waiter at a high-end restaurant in Norwich, where customers sometimes complimented his English. There, he picked up useful insights into the ways of the ultrawealthy. It struck him when he moved to London that this world could be a mine of comedy gold.
is real,” he said, grinning. He said he would welcome the opportunity for the character to “get some real cultural insights.”
For now, Mr. Chawawa is enjoying the chance to lean into that natural extroversion. “My dad always used to say to me, ‘When you were in Zimbabwe you were so bold.’” Being a satirist now, he added, is “a resurgence of the guy I used to be.”
My husband and I are currently planning a trip to Ireland, Portugal and Italy for August and September. We are only reserving hotels with free cancellation policies and our airline tickets can be changed to a future date. Knowing that much of Europe is closed right now to United States citizens because of the virus, is there much hope that our plans will materialize, or are we wasting our time? What should I watch for? Kathy
Although there are some signs of life — Iceland is newly open to fully vaccinated travelers and Greece will reopen to vaccinated or virus-tested visitors next month — Europe, where case counts are rising in some parts and the vaccine rollout has been disappointingly slow, is still largely closed to Americans. Ireland is open to United States citizens with a combination of testing and quarantine, but Portugal and Italy, like most of the continent, for now remain off limits. Italy, in particular, was hard-hit by the virus in the early months of the pandemic; and in March, the spread of a contagious variant from Britain pushed the country back into another lockdown.
“This environment is so challenging because there is significant pressure for countries that rely on tourism to rebound, which counterbalances much slower vaccination rates in Europe,” said Fallon Lieberman, who runs the leisure-travel division of Skylark, a travel agency affiliated with the Virtuoso travel network. “So unfortunately, those two forces are at odds with one another.”
Your question, like many related to the pandemic, involves various degrees of risk. First, let’s look at the concrete risk: If you book now for late summer, how likely are you to lose money?
flexibility with seats beyond Basic Economy, and now, especially, it’s wise to book tickets that can be easily changed. Delta Air Lines has eliminated change and cancellation fees for all flights originating from North America, and Delta eCredits set to expire this year — including for new tickets purchased this year — can be used for travel through 2022. United Airlines has also permanently eliminated change fees.
Unlike a plane ticket, which can always be changed (either for free or for a fee), a nonrefundable hotel reservation is generally exactly that: a use-it-or-lose-it investment.
The good news: “Hotels in Europe — and around the world, really — are being quite flexible,” said Ms. Lieberman, who has helped hundreds of Skylark clients cancel and rebook last year’s felled Europe trips, many to this summer and beyond. “While this is a very challenging time, many suppliers are providing maximum flexibility.”
Cancellation policies vary by property, but many of the multinational companies have made it easy, and relatively risk-free, to plan ahead. Companies like Hilton and Four Seasons are allowing cancellations up to 24 hours before check-in. Hyatt is allowing fee-free cancellations up to 24 hours in advance for arrivals through July 31 (and it’s always possible that date will be extended). For points nerds, most of the big hotel chains allow most award nights to be canceled scot-free, with the points redeposited, within a day or two of the expected check-in.
More complicated than physical refunds, though, is the larger, metaphysical risk: How likely is it that this trip is actually going to happen? What forces can help predict whether the Europe trips we book today will actually materialize in August and September?
France and Italy have just been locked down again, interest in Europe is rising, aided, no doubt, by signs that President Biden could lift the ban on European visitors to the United States as early as next month, news of the possibility of European health passes, rumors that Spain and Britain could both restart international tourism in mid May, and more.
At Hopper, a travel-booking app that analyzes and predicts flight and hotel prices, bookings for Europe-bound summer 2021 travel surged 68 percent week-over-week between the last week of February and the first week of March. Searches for round-trip flights to Europe departing this summer increased a whopping 86 percent in the 30 days following February 22.
According to TripAdvisor data of hotel searches from the United States for this summer, five of the 10 most-searched European destinations were in Greece, but Rome — and Paris, for that matter — were also on the list.
To make sense of how traveler zeal will jibe with the realities of the pandemic, analysts and travel industry experts are eyeing several factors, including flight schedules.
According to PlaneStats, the aviation-data portal from Oliver Wyman, an international consulting firm, the number of Europe-bound flights scheduled to depart the United States this month is around 26 percent of the number that departed the United States for Europe in April 2019. Next month compared to May 2019, that figure is looking even higher so far: 35 percent. (April and May 2020, by contrast, both clocked in at 5 percent.) That’s lower than normal, but it’s still a drastic uptick from any other point during the pandemic. Although many will be connecting flights (Americans can still transit through Europe) or culminate in destinations like London (Americans can visit England, though multiple testing and quarantines are required), schedules still remain a key indicator.
Khalid Usman, a partner and aviation expert at Oliver Wyman. “What airlines don’t want to do is put out schedules where people are not going to be traveling.”
Pandemic Navigator, which simulates day-by-day immunity growth. “That’s good news for the domestic market, but in the context of international travel, we do have to realize that it’s not just about one country — it’s a country at the other end as well.”
Factoring in the spotty vaccine rollout across the pond, Mr. Usman said it’s reasonable to assume that Europe’s herd immunity will lag several months behind the United States. Over the next several months, he added, European countries will follow in Iceland’s footsteps and open individually, complete with their own regulations about vaccinations, testing and quarantines. To spur travel across the continent this summer, the European Union is considering adopting a vaccine certificate for its own residents and their families.
“It’s not going to be a binary open-or-shut,” Mr. Usman said. “Countries are going to start getting more selective about who they’re going to start letting in.”
Italy’s numbers — plus new lockdowns and growing Covid variants — seem to be stifling optimism; Hopper flight searches from the United States to Italy have remained relatively flat.
For now, Ms. Lieberman, of Skylark, has adopted a “beyond the boot” mind-set: “Our theory is that if you’re willing to go beyond the boot — meaning, Italy — there will be fabulous, desirable summer destinations for you to take advantage of.”
Portugal surged in January but has recently eased lockdown measures as infection rates have slowed. The country is now aiming for a 70 percent vaccination rate this summer.
American interest in Portugal is spiking in response. In the first week of March, following an announcement that Portugal could welcome tourists from Britain as soon as mid-May, Hopper searches on flights from the United States to Lisbon rose 63 percent. (That’s not far behind Athens, for which travel searches shot up 75 percent in the same time period.)
will next month start nonstop service between Boston and Reykjavik — and resume its Iceland service from New York City and Minneapolis.
“Unless demand spikes rapidly enough to outpace the increase in supply, flash sales can be found as airlines attempt to entice travelers to return amid piecemeal easings of travel restrictions,” said Mr. Damodaran. Icelandair, for example, is running sales on flights and packages through April 13.
And with prices for summer flights to Europe still relatively low in general — down by more than 10 percent from 2019, according to Hopper — experts see little downside in penciling in a trip.
“If you’re willing to take some risk, plan early and lock in your preferred accommodations and ideal itineraries,” Ms. Lieberman said. “But of course we caution you to be prepared to have to move deposits and dates if it comes to that.”
As Covid-19 vaccinations have picked up and more businesses reopen across the country, Easter weekend saw a resurgence of tourist activity in some cities, perhaps indicating a turning point for the struggling tourism industry.
Chip Rogers, the president and chief operating officer for the American Hotel & Lodging Association, the trade organization for the hospitality industry, said that before last weekend, recovery had been “very regionalized,” with places like Florida and Texas doing well and “cities that thrive on large meetings and conventions like a Chicago, Orlando, Las Vegas” struggling to recover.
“You’re seeing really good pickup over the weekend dates, which have now extended. Traditionally they’re Friday to Sunday, now it’s Thursday to Monday,” he said, referring to the increase in leisure travel. But the lack ofbusiness travel means weekday bookings continue to lag. Still, he added, there’s reason for “cautious optimism.”
But travelers, even those who are fully vaccinated, should practice caution while visiting some states, health experts warn. Case numbers are going up in some popular destinations, like Florida, which saw a spike as revelers flocked there during spring break. The Centers for Disease Control and Prevention still recommends that people continue to wear masks, social distance and frequently wash their hands, even though some local governments have relaxed or lifted these rules.
Mila Miami, a restaurant in Miami Beach, many have traveled from out of state for extended stays — particularly from places like Los Angeles, New York and Chicago — which he said “has enabled the business to pick up customers that we wouldn’t have.”
This influx proved problematic over spring break, when police officers in riot gear used pepper balls to enforce an emergency curfew and disperse revelers ignoring social distancing and mask regulations.
During the weekend of March 28 to April 3, Miami “saw its highest occupancy level since the start of the pandemic, with most hotels reporting upward of 75 percent occupancy levels,” said Suzie Sponder, a spokeswoman for the Greater Miami Convention & Visitors Bureau. That’s only a 6.6 percent drop from the same weekend in 2019.
Ms. Sponder added that the average room rate for the weekend was $282.29, up 25 percent from 2019. And Mr. Rogers, of the American Hotel & Lodging Association, said that revenue, which is still down across the board, is the best indicator of the industry’s recovery, noting that Miami’s strong numbers are the exception rather than the rule.
In the tourism industry, “you still have a lot of folks that are out of work,” he said, “because it’s those large, city center urban hotels that employ the most people, because they have those extensive food and beverage operations that are not working right now. That’s where most job loss is occurring.”
Circa Resort & Casino. “It’s like trying to book a dinner reservation on New Year’s Eve. It’s not something you do the day before.” Spots at the pools at his establishments, which include two other hotels, are booked a month in advance because of reduced capacity limits and social distancing, which he said shows that there is demand for leisure travel. Hotels and other venues in the city are limited to 50 percent capacity.
Though the weekend of Easter is, historically, the second slowest weekend in the city, this year was different because of March Madness, the annual N.C.A.A. basketball tournaments. “Everything was packed to the restricted capacity level,” he said. “On Saturday, all of our venues were filled by 10 a.m. because of Final Four. I think that was the case throughout all of Las Vegas.”
Mr. Stevens said that since the Super Bowl, in February, there have been indications that the tourism industry in Vegas is recovering, adding that his three hotels have been sold out every weekend since. “I’ve never seen booking at the rate of what we’ve seen in the past three months or so. This is the strongest booking that I’ve ever experienced,” he said.
But there continues to be a dip during weekdays because of the lack of conferences or conventions. “What we’re seeing is enormous pent-up demand for leisure travel that while it’s going to take place throughout the entire summer, does not necessarily mean that business travel will follow suit,” he said.
NewOrleans.com planning a trip in the next three months. Ms. Schulz notes that she is “optimistic about the fourth quarter of 2021 with a convention and festival schedule.”
Though leisure travel over the summer is expected to keep the industry afloat, Mr. Rogers said business travel will need to pick back up in order to restore the industry to 2019 levels.
“While we’re optimistic, what we’re fearful of and concerned about is, what happens post-Labor Day when all of this leisure travel has passed?” he said. Business travel, he said, “is absolutely necessary if we’re going to survive.”
filed first-time claims for state jobless benefits last week, an increase of 18,000, the Labor Department said. It was the second consecutive weekly increase after new claims hit a pandemic low.
At the same time, 152,000 new claims were filed for Pandemic Unemployment Assistance, a federal program covering freelancers, part-timers and others who do not routinely qualify for state benefits. That was a decline of 85,000.
Neither figure is seasonally adjusted.
Claims rose above one million early in the year but havecome down since then, helped by the spread of vaccinations, the easing of restrictions on businesses in many states and the arrival of stimulus funds.
Most individuals received payments of $1,400 in recent weeks as part of the Biden administration’s $1.9 trillion relief package, and the funds should bolster consumer spending in the coming months.
On Friday, the government reported that employers added 916,000 jobs in March, twice February’s gain and the most since August. The unemployment rate dipped to 6 percent, the lowest since the pandemic began, with nearly 350,000 people rejoining the labor force.
Still, there is plenty of ground to make up.
Even after March’s job gains, the economy is 8.4 million jobs short of where it was in February 2020. Entire sectors, like travel and leisure, as well as restaurants and bars, are only beginning to recover from the millions of job losses that followed the pandemic’s arrival.
The union seeking to represent workers at an Amazon warehouse in Alabama said late Wednesday that there were 3,215 ballots cast — or about 55 percent of the roughly 5,800 workers who were eligible to vote.
The ballots are expected to be counted by hand starting either Thursday afternoon or Friday morning in the National Labor Relations Board’s office in Birmingham, according to the Retail Wholesale and Department Store Union. Hundreds of ballots are being contested, mostly by Amazon, the union said.
The vote counting will be shown on a videoconference call to a small number of outsiders, including journalists, in addition to representatives from the union and the company.
Union elections are typically held in person, but the labor board determined that the election should be conducted by mail to minimize risks during the pandemic. The ballots were sent to workers in early February and were due at the agency before March 30. Since then, Amazon and the union have had a chance to challenge whether particular worker were eligible to vote.
When the public counting is done, the agency will announce the formal results if the margin of victory for one side is greater than the number of contested ballots.
If the margin is narrower, then it could take two to three weeks for the N.L.R.B. to hold a hearing to sort through the contested ballots and take evidence from both sides on whether they should be counted.
Officials are calling Taiwan’s drought its worst in more than half a century. And it is exposing the enormous challenges involved in hosting the island’s semiconductor industry, which is an increasingly indispensable node in the global supply chains for smartphones, cars and other keystones of modern life.
Chip makers use lots of water to clean their factories and wafers, the thin slices of silicon that make up the basis of the chips, Raymond Zhong and Amy Chang Chien report for The New York Times. In 2019, Taiwan Semiconductor Manufacturing Company’s facilities in Hsinchu consumed 63,000 tons of water a day, according to the company, or more than 10 percent of the supply from two local reservoirs.
In recent months, the government has:
But the most sweeping measure has been the halt on irrigation, which affects 183,000 acres of farmland, around a fifth of Taiwan’s irrigated land.
The Taiwanese public appears to have decided that rice farming is less important, both for the island and the world, than semiconductors. The government is subsidizing growers for the lost income. But Chuang Cheng-deng, 55, worries that the thwarted harvest will drive customers to seek out other suppliers, which could mean years of depressed earnings.
Prosecutors are accusing the French arm of Ikea, the Swedish home furnishings giant, and some of its former executives of engineering a “system of espionage” from 2009 to 2012, in a criminal trial that has riveted public attention in France.
The alleged snooping was used to investigate employees and union organizers, check up on workers on medical leave and size up customers seeking refunds for botched orders, Liz Alderman reports for The New York Times. A former military operative was hired to execute some of the more clandestine operations.
In all, 15 people are charged. A verdict from a panel of judges is scheduled for June 15.
The case stoked outrage in 2012 after the emails were leaked to the French news media, and Ikea promptly fired several executives in its French unit, including its chief executive. There is no evidence that similar surveillance happened in any of the other 52 countries where the global retailer hones a fresh-faced image of stylish thriftiness served with Swedish meatballs.
Victims’ lawyers described a methodic operation that ran along two tracks: one involving background and criminal checks of job candidates and employees without their knowledge, and another targeting union leaders and members.
Ikea’s lawyer, Emmanuel Daoud, denied that systemwide surveillance had been carried out at Ikea’s stores in France. He argued that any privacy violations had been the work of a single person, Jean-François Paris, the French unit’s head of risk management.
Emails and receipts showed that Mr. Paris handed much of the legwork to Jean-Pierre Fourès, who surveilled hundreds of job applicants, gleaning information from social media and other sources to speed vetting and hiring. He also did background checks on unsuspecting customers who tangled with Ikea over big refunds. He insisted that he had never broken the law in gathering background material.
The surveillance encompassed career workers. In one case, Mr. Fourès was hired to investigate whether Ikea France’s deputy director of communications and merchandising, who was on a yearlong sick leave recovering from hepatitis C, had faked the severity of her illness when managers learned she had traveled to Morocco.
Carnival Cruise Line, the largest cruise operator in the United States, is optimistic that several of its U.S.-based lines will be up and running by July, it said on Wednesday as it reported its first quarter financials. Booking volumes for future Carnival cruises were about 90 percent higher in the first quarter of 2021 than in the previous quarter, “reflecting both the significant pent-up demand and long-term potential for cruising,” Arnold Donald, the chief executive of Carnival Corporation, the cruise line’s parent company, said in a statement on Wednesday. The company reported a net loss of $2 billion for the first quarter of 2021.
Unions representing employees at two prominent podcasting companies owned by Spotify, the audiostreaming giant, announced Wednesday that they had ratified their first labor contracts. The larger of the two unions, with 65 employees, is at The Ringer, a sports and pop culture website with a podcasting network. The second union, at the podcast production company Gimlet Media, has just under 50 employees. The two groups were among the first in the podcasting industry to unionize, and both are represented by the Writers Guild of America, East.
S&P 500 futures were up on Thursday, pointing to a rise when Wall Street trading starts, a day after the benchmark index set another record the previous day. Investors are awaiting the latest weekly jobless claims report, which could provide a fresh measure of a strengthening economy.
European markets were mostly higher and Asian stocks had a mostly positive day. Oil futures were lower, and Treasury yields slipped.
Investors on Wednesday were buoyed by remarks in the minutes of the Federal Reserve officials’ meeting last month, which suggested policies that have supported the markets and businesses through the pandemic were not about to be removed.
Fed policymakers have said they want to see “substantial further progress” toward their employment and inflation goals before scaling back the accommodative measures.
Weekly jobless claims numbers, to be released later on Thursday, come amid growing confidence about hiring in the U.S. economy. The payrolls report for March showed an impressive gain of 916,000 jobs. But even with that improvement, the economy is still 8.4 million jobs short of where it was in February 2020.
Investors are also digesting more details of President Biden’s corporate tax plan, which aims to raise as much as $2.5 trillion over 15 years. It includes a strict new minimum tax on global profits and cracking down on companies that try to move profits offshore.
Stocks, bonds and oil
In European, trading the Stoxx Europe 600 was 0.4 higher after hitting a record high at the close of trading on Wednesday. In Britain, the FTSE 100 was also 0.4 percent higher. In Asia, the Hang Seng in Hong Kong ended the day 1.2 percent higher.
In New York, S&P 500 futures were 0.3 percent higher, after the index rose 0.2 percent on Wednesday.
Oil futures were slipping, as rising coronavirus infections weigh on projections of oil demand. Brent crude, the global benchmark, was 0.2 percent lower at $63 a barrel, and the U.S. benchmark, West Texas Intermediate, fell 0.5 percent, to $59.47 a barrel.
Yields on 10-year Treasury notes were down more than 2 basis points, to 1.64 percent.