Texas pauses reopening as coronavirus cases surge in southern states, plus everything else you missed in business news: CNBC After Hours – CNBC

Posted By on June 26, 2020

CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines, and what to watch as the coronavirus pandemic continues sweeping through the U.S. On today's show, CNBC's Meg Tirrell breaks down how rising case counts have caused some states to put their reopening plans on pause. Plus, CNBC's Kate Rooney has the latest numbers on how the pandemic is affecting the largest swath of the nation's workforce Millennials and Generation Z.

Texas pauses reopening plan and elective surgeries as coronavirus cases and hospitalizations rise

Texas Gov. Greg Abbott announced Thursday that the state will pause any further reopening as it continues to report record increases in Covid-19 cases and hospitalizations.

Businesses that were permitted to open under the previous phases can continue to operate at the designated occupancy outlined by the Texas Department of State Health Services, according to statement from Abbott's office.

"The last thing we want to do as a state is go backwards and close down businesses. This temporary pause will help our state corral the spread until we can safely enter the next phase of opening our state for business," Abbott said in the release.

Young people are stressed out all over the world, but don't blame the pandemic

For Gen Z and millennial individuals in countries all over the globe, anxiety levels are high. Nearly half of Gen Zs (48%) and millennials (44%) say they are stressed all or most of the time, according to the 2020 Deloitte Millennial Survey, released Thursday. The causes of high stress are rooted in financial concerns, family welfare and career expectations. But don't put the Covid-19 pandemic at the top of that list.

The coronavirus outbreak has brought an economic downturn in the U.S. and globally, and even amid some signs of rebound, uncertainty continues to weigh on the global economy and markets.

Verizon is pulling advertising from Facebook and Instagram

Verizon said on Thursday it is pulling advertising on Facebook until the company "can create an acceptable solution that makes us comfortable."

A company spokesperson said the pause applies to both Facebook and Instagram. It comes as marketers including Ben & Jerry's, Patagonia and REI have also said they plan to pause advertising on the platforms.

Last week, a group of six organizations called on Facebook advertisers to pause their spending on the social media platform during the month of July. The groups -- the Anti-Defamation League, the NAACP, Sleeping Giants, Color of Change, Free Press and Common Sense -- asked "large Facebook advertisers to show they will not support a company that puts profit over safety."

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Texas pauses reopening as coronavirus cases surge in southern states, plus everything else you missed in business news: CNBC After Hours - CNBC

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