Hospitals will be allowed to care for Medicare patients in their own homes during the pandemic under a new program to help hospitals deal with the latest surge. The Centers for Medicare and Medicaid Services said Wednesday the program will let hospitals quickly start such programs, which offer constant electronic monitoring and other technology. They have been used for patients with private insurance in a limited way, then the pandemic dramatically boosted their use. Hospitals now can do the same for Medicare patients with various health problems, including COVID-19, who are are sick enough to be hospitalized but don’t need intensive care.
Business
Posted inArticle, Business, South County Bureau
The Bike Stop Cafe in Narragansett hopes to get business rolling despite COVID-19 restrictions
Rhode Island restaurants are expected to take a financial hit from Governor Gina Raimondo’s newly announced pause on certain social activity. The stepped-up restrictions come as many in the industry have already struggled to emerge from limitations put in place earlier this year.
Posted inArticle, Business, Newport Bureau
‘I think it’s important to do the right thing’: Newport soap business weathers pandemic by doing good
COVID-19 has devastated many small businesses and restaurants in Rhode Island. Business owners are now bracing for more financial troubles, as Governor Gina Raimondo announced a looming two-week “pause” last Thursday. But on Aquidneck Island, Shore Soap Co. has seen a steep rise in demand for one of their products — hand soap.
Posted inArticle, Business
BuzzFeed buying HuffPost from Verizon for undisclosed price
BuzzFeed is buying HuffPost from Verizon as part of a bigger deal that has the wireless giant investing in the digital-media company. BuzzFeed and Verizon did not disclose terms of the deal. Verizon will be a minority shareholder in BuzzFeed and the two companies will partner on content and ads. BuzzFeed is known for its quizzes and lists but also invested in its news division. Its founder and CEO, Jonah Peretti, also co-founded HuffPost, then known as The Huffington Post, in 2005. AOL bought it for $315 million in 2011. Peretti said in a memo to BuzzFeed employees that he expects the deal to close at the beginning of 2021.
Posted inArticle, Business, South County Bureau
‘We’re going to embrace the lockdown’: Narragansett restaurant prepares for possibility of stepped-up restrictions
As the coronavirus surges, more business owners are bracing for the possibility of a return to increased restrictions. South County Bureau Reporter Alex Nunes visited George’s Of Galilee in Narragansett, where the owner would welcome the idea of another lockdown.
Posted inArticle, Business
Electric Boat confirms spike in COVID-19 cases
Over 200 cases of COVID-19 have been reported at Electric Boat facilities since October 25th.
Posted inArticle, Business
Beyond Meat falls short in 3Q as restaurants struggle
Beyond Meat says it felt the full force of the coronavirus pandemic in the third quarter, leading to worse-than-expected financial results. The company cited consumer stockpiling in the second quarter, coupled with continuing struggles at restaurants and other food-service customers. Beyond Meat’s revenue rose 2.7% to $94.4 million. According to analysts polled by FactSet, that was far short of the $132 million that Wall Street forecast. El Segundo, California-based Beyond Meat said it lost $19.3 million for the quarter. Adjusted for one-time items, the company lost 28 cents per share. Analysts had forecast a 5 cent per share profit.
Posted inArticle, Business, South County Bureau
‘If you’re not making money…you’re not working hard enough’: Inside RI’s surging real estate market
Property bidding wars have broken out across Rhode Island. In South County, realtors are scrambling to close deals and get their clients into homes that can sell quickly above asking price.
Posted inArticle, Business
Boeing says pandemic will cut demand for planes for a decade
Boeing says the pandemic will reduce demand for new planes for the next decade, long after experts expect a vaccine for COVID-19. The company updated its forecast of the airplane market on Tuesday. It remains upbeat about long-term prospects driven by increasing air travel in Asia. Boeing, which along with Europe’s Airbus dominates the aircraft-building industry, has seen orders and deliveries of new planes crumble this year. The Chicago-based company was already under pressure from the grounding last year of its best-selling plane, the 737 Max, after two deadly crashes.
Posted inArticle, Business
Samsung wins $6.6 billion Verizon contract for 5G network
Samsung Electronics Co. will develop 5G network infrastructure for Verizon Communications under a $6.65 billion deal announced Monday. The contract runs through 2025. Samsung has developed limited 5G systems for Verizon before, and Verizon said it was excited to expand the relationship. The South Korean technology giant beat out rivals like Finland’s Nokia, which has also worked with Verizon in the past. But another rival, China’s Huawei Technologies, was off the table. The U.S. government has warned U.S. and European phone carriers against Huawei because it considers the company a security risk.
