Kevin O’Leary

Scott Mlyn | CNBC

Investor Kevin O’Leary knows firsthand the challenges entrepreneurs on Main Street are facing during the coronavirus pandemic. Many are struggling to survive to economic shutdowns and the rapid shift to the digital economy.

“Twenty percent of the small private companies in my portfolio are going to fail,” he said on CNBC’s Halftime Report. “They’re going to zero. They are restaurants. They are in sports and entertainment … I don’t want to support them anymore, and I don’t think the government should either.” 

He is referring to the Paycheck Protection Program authorized under the CARES Act launched this year to help small business owners meet payroll and keep their businesses afloat during the health crisis. The application process ended on Aug. 8. To date, PPP has provided 5.2 million loans worth $525 billion to American small businesses supporting more than 51 million jobs. Currently, talks

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  • Chuck E. Cheese wants to destroy about 7 billion paper prize tickets worth $9 million in prizes.
  • In a Monday emergency motion, Chuck E. Cheese parent company CEC Entertainment requested permission for its vendors to destroy the tickets, which could fill “approximately 65 40-foot cargo shipping containers.”
  • Destroying the tickets will cost CEC Entertainment about $2.3 million dollars, but will still be $1 million cheaper than circulating them.
  • Chuck E. Cheese is also rolling out e-tickets as part of a pivot towards a more touchless customer experience.
  • Visit Business Insider’s homepage for more stories.

In its efforts to stay afloat, Chuck E. Cheese is ejecting ballast in the form of its iconic paper prize tickets.

CEC Entertainment, the parent company of the iconic children’s dinnertainment chain, wants to spend $2.28 million to shred about 7 billion prize tickets, Bloomberg Law first reported on Tuesday. 

Destroying the prize tickets rather than

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A Glass-Steagall Act for the Internet would be a Disaster for Consumers and Entrepreneurs

Brick-and-mortar stores (especially smaller boutiques) were having a tough time competing against online retailers.That was true before coronavirus and the economic shutdown forcing businesses to close and reopen only with strict new regulations that massively increase costs and limit stores’ income-earning potential. 

Given this reality, it is unavoidable that many, many stores will permanently shut down. Policymakers—like just about everyone—are unhappy with the outcome, but it is simple math: If operations become more expensive and income goes down, businesses’ profit will go down too. For many businesses that were already operating on razor thin margins, operating simply won’t be sustainable.  

This doesn’t mean that

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A new study published in the journal Nature Communications suggested that prodrug GC376 which is used to treat coronavirus disease in feline can be effective against the widespread novel coronavirus.

Prodrugs are compounds that have to be metabolized inside the body before they become active. GC376 gets converted to GC373.

A group of researchers at the University of Alberta, Canada, noted in the study that the prodrug targets an enzyme called Mpro in the SARS-CoV-2 and is a strong drug candidate for the treatment of coronavirus disease since it is already shown to be effective in animals.

The research team is set to launch phase 1 clinical trials of the drug soon.

Feline coronavirus

Feline coronavirus FCoV is a common infection that infects around 25 to 40 per cent of domestic cats in the world.

The virus enters a cat’s body through the oral route (licking, for example) and multiplies

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KENOSHA, Wisc. — Monday night saw more rioting in the downtown area of Kenosha, with rioters battling police guarding the county courthouse and others going to destroy businesses.

Multiple fires were set across the city, including car dealerships, a furniture store, and the probation office. While fires raged, police eventually deployed to set up perimeters and secure the area so firefighters can safely respond to the many blazes.

The owners

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