Cinemark to reopen movie theaters, pizza continues to sell

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to the national and global response, the work place and the spread of the virus.

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MOVIE TIME: Cinemark Holdings will reopen some of its U.S. movie theaters on July 24, with additional theaters reopening in subsequent weeks.

All theaters will reopen with elevated cleaning and safety standards.

Cinemark runs 555 theaters in 41 states and 15 countries throughout South and Central America. Rival AMC is also planning to reopen some of its movie theaters next month.

DEAL DELAY: Online services Yahoo Japan and Line Corp. said Tuesday that fallout from the pandemic is causing delays that will push back their merger to later than the scheduled October date.

Z Holdings Corp., which operates Yahoo Japan, and Naver Corp. of South Korea, which owns a majority stake in Line, announced last year the merger as equal partners that will form a joint venture through a tender offer.

Both sides said procedures required under law were getting delayed because of the outbreak.

“Due in part to the impact of the global spread of COVID19, the procedures and measures under the competition laws of some of the countries have not been completed,” their statement said.

A new schedule will be announced as soon as possible, they said.

SALES UPDATE:

— Papa John's second-quarter comparable sales at domestic-company owned restaurants are up 22.6%. At North America franchised restaurants, the figure is up 29.6%.

The pizza company said Tuesday that almost all traditional restaurants in North America remain open and fully operational. A number of its non-traditional restaurants located in universities and stadiums are temporarily closed....