10:34 a.m. Oct. 9, 2020
- By Ciara Linnane
Coronavirus update: WHO warns of record single-day rise in global COVID-19 cases, while northeastern U.S. states heat up again Clusters emerge in Connecticut, Maryland, Pennsylvania and Rhode Island and New York City is seeing more than 500 cases a dayThe World Health Organization on Friday reported a record rise in global cases of the coronavirus that causes COVID-19 in the last 24 hours, in the latest sign that the illness is far from contained.
12:10 p.m. Oct. 8, 2020
- By Claudia Assis
JetBlue's debt downgraded deeper into junk territory by Fitch Fitch Ratings on Thursday downgraded JetBlue Airways Corp.'s debt one notch deeper into high-yield bonds, to BB- from BB. A "recovery in air traffic will be slower than previously anticipated," hampering JetBlue and other airlines' efforts to drum up business until COVID-19 cases decrease or until treatment or a vaccine against the virus become available. JetBlue's cash burn is likely to "remain material well into 2021," Fitch said. The ratings agency also worried about the airline's going deeper into debt, which helped it with liquidity but puts pressure on the airline's debt metrics in the longer term, it said. Airlines have been "proactive" in cutting capacity as demand has lagged, Fitch said. As capacity increases, so will costs, "and JetBlue will not see the same types of cost savings that some larger carriers will see from things like fleet retirements and management headcount reduction," the ratings agency said. "However, JetBlue is starting from a lower cost base, which Fitch believes puts the company in a better position to recover from the downturn." Air-travel demand recovered some from April's trough, but the pace of recovery slowed as reported cases began to rise again in June. "Fitch expects traffic levels to remain anemic until case levels improve substantially or until more effective treatments or a vaccine become widely available," it said. Shares of JetBlue edged higher in the extended session Thursday after ending the regular trading day up 3.7%.
1:59 a.m. Sept. 26, 2020
- By Sadagopa Iyengar
‘Buses are packed, as are shops and markets’: India’s rising COVID-19 infections are rapidly catching up with the U.S. ‘The police have mopped up a tidy sum by way of fines for mask-wearing noncompliance, though social distancing is not being enforced’‘The police have mopped up a tidy sum by way of fines for mask-wearing noncompliance, though social distancing is not being enforced.’
1:52 p.m. July 27, 2020
- Associated Press
Oprah ends print editions of O Magazine, announces new Apple TV+ series Magazine will continue to live online; new streaming talk show to debut ThursdayO, The Oprah Magazine is ending its regular monthly print editions with the December 2020 issue after 20 years of publication.
10:51 a.m. July 25, 2020
- By Keith Jurow
The feared jumbo mortgage debacle is here — thanks to the coronavirus — and ready to pound the housing market COVID-19 pandemic is squeezing borrowers’ ability to stay in their homesCOVID-19 pandemic is squeezing borrowers’ ability to stay in their homes, writes Keith Jurow.
4:08 a.m. July 18, 2020
- By Tonya Garcia
Online food prices jump as food companies struggle to meet demand Digital purchasing power has fallen into negative territory for the first time ever, according to Adobe dataOnline food prices have climbed 4.2% over the past six months according to the latest Adobe Inc. data as grocery e-commerce accelerated amid the COVID-19 pandemic and food producers struggled to keep up with continued high demand.
8:59 a.m. June 12, 2020
- By Jillian Berman
‘Higher education essentially preserves intergenerational racial and class inequality’: How coronavirus could make it worse With colleges squeezed for revenue, persistent problems are likely to continueWith colleges squeezed for revenue, persistent problems are likely to continue.
4:55 a.m. June 5, 2020
- By Steve Goldstein
This contrarian strategist recommends chasing bears in these hard-hit sectorsOne strategist explains why he likes the sectors that bearish investors are betting against.
2:46 p.m. May 12, 2020
- By Joy Wiltermuth
Fed spells out terms of TALF rescue facility, potentially paving way to unleash funds in weeks Fed facilities already providing ETF boostThe Federal Reserve on Tuesday laid out specifics for participants in its $100 billion Term Asset-Backed Securities Loan Facility to keep credit flowing to U.S. consumers and businesses during the pandemic, potentially paving the way to kick off the program in mid-June.
3:28 a.m. May 12, 2020
- By Tanner Brown
China shares stagnant this week despite Beijing hints at ‘more powerful’ stimulus PBOC’s quarterly report marks shift in tone from conservative to more flexible tools to fight slowdownThe PBOC’s quarterly report marks shift in tone from conservative to more flexible tools to fight slowdown
11:17 a.m. May 7, 2020
- By Ciara Linnane
Coronavirus update: U.S. death toll tops 74,000, as Trump administration shelves ‘too cautious’ CDC guide to reopening Tesla is gearing up to reopen California plant, and retailers Gap and Kohl’s are starting to open their doorsThe number of U.S. fatalities from the coronavirus that causes COVID-19 climbed above 73,000 on Thursday, as President Donald Trump’s administration said it is shelving recommendations from the Centers for Disease Control and Prevention on reopening safely because they were too cautious
2:11 p.m. May 4, 2020
- By Ciara Linnane
Coronavirus update: Global case tally passes 3.5 million; Trump and senior officials continue to lash out at China J. Crew files for bankruptcy and GE announces permanent job cuts at its aviation unit; global deaths top 250,000The number of cases of the coronavirus that causes COVID-19 climbed above 3.54 million on Monday, as President Donald Trump and senior members of his administration continued to lash out at China, where the virus was first reported late last year.
4:03 a.m. April 28, 2020
- By Lina Saigol
HSBC, Santander and UBS set aside billions for loan losses for coronavirus Europe’s lenders set aside billions in bad loan provisions HSBC, Santander and UBS set aside billions of loan loss provisions as they prepare for a wave of credit losses caused by the coronavirus pandemic.