In light of sweeping new regulations that will ban gatherings of more than 500 people in New York, Broadway theaters and other large venues will be required to close their doors to prevent the spread of the coronavirus.
New York Governor Andrew Cuomo announced at a press conference on Thursday large gatherings will be restricted. For venues that hold less than 500 people, capacity will still be cut in half. Schools, hospitals and mass transit will remain open.
The restrictions begin on Friday 5pm ET. However, specific closures for Broadway shows are mandated to begin at tonight at 5pm. The trade organization Broadway League says all performances will be suspended until April 12.
Broadway earned $1.8 billion in revenue during its 2018-2019 season. There are currently 31 musicals and plays running, per Variety. This is the first time Broadway has gone dark since a stagehand strike in 2007 when theaters were closed for 19 days.
The Metropolitan Opera at Lincoln Center, the New York Philharmonic and Carnegie Hall have also canceled all events until March 31. The Metropolitan Museum of Art and The Frick Collection are also closing their locations beginning Friday.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
