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11:09 a.m. Oct. 7, 2020 - By Ciara Linnane
Coronavirus update: U.S. death toll tops 211,000 as doctors caution that Trump is entering a key phase in his diagnosis White House adviser Stephen Miller is latest to test positive for coronavirusThe U.S. death toll from the coronavirus illness COVID-19 edged above 211,000 on Wednesday, as doctors and medical experts said President Donald Trump is entering a key phase in the illness which can take a turn for the worse seven to 10 days into the onset of symptoms.
1:24 p.m. Oct. 1, 2020 - By Mark DeCambre
New York City's $38.7 billion debt gets a downgrade by Moody's as it faces 'lasting economic economic consequences' from pandemicCredit-rating agency Moody's Investors Service on Thursday downgraded New York City's debt one notch, citing "substantial financial challenges," faced by the metropolis amid the worst pandemic in more than a century. COVID-19 has delivered a socially distant gut punch to the city teeming with some 19 million people. Moody's downgraded the Big Apple's $38.7 billion in general obligation bonds to Aa2 from Aa1, the equivalent of a move in competitor ratings firm Standard & Poor's of a fall to AA from AA+, or two notches below the pristine triple-A rating. Moody's said that it believes that the city is on a "longer recovery path than most other major cities." The agency also said that the city may face "lasting economic consequences" and require "significant fiscal adjustments." The Moody's report comes after an article from the earlier this week said that the coming crisis from the coronavirus pandemic may rival a fiscal calamity that the city faced in the 1970s."We're on the verge of a tragedy," Richard Ravitch, a former state official who helped engineer the rescue of New York City's finances in the 1970s was quoted as saying to the paper.
11:14 a.m. Sept. 18, 2020 - By Myra P. Saefong
Oil futures log biggest weekly gain since June Natural-gas futures poised for a weekly loss of almost 11%Oil futures split paths for the session on Friday, with U.S. prices up modestly and global prices slightly lower but both benchmarks logging their biggest weekly gain since June after major oil producers pledged their full commitment to output cuts.
9:48 a.m. Sept. 18, 2020 - By Jonathan Burton
Billionaire investor Ray Dalio on capitalism’s crisis: The world is going to change ‘in shocking ways’ in the next five years Veteran hedge-fund manager says capitalists don’t divide the economic pie well, so the system isn’t working effectively for allVeteran hedge-fund manager says capitalists don’t divide the economic pie well, so the system isn’t working effectively for all.
3:50 a.m. Sept. 10, 2020 - Associated Press
Olympic Committee urged by human-rights groups to pull Winter Games from China The IOC argued the 2008 Olympics would transform China and improve its human-rights recordThe IOC argued the 2008 Olympics would transform China and improve its human-rights record. Instead, they are often compared to the 1936 Olympics in Nazi Germany — an authoritarian state using the games as a stage.
4:51 a.m. Aug. 14, 2020 - By Therese Poletti
A tale of two $2 billion Chinese IPOs headed in very different directions KE Holdings raises the most on a U.S. exchange for a Chinese company since iQiyi, then iQiyi announces SEC inquiry and its stock plungesOn the day that KE Holdings Inc., a hot online real estate platform in China, went public, investors got a dose of the nightmare scenario that can happen with these still-coveted IPOs.
8:07 a.m. June 24, 2020 - By Tomi Kilgore
Wins Finance's stock soars after audit committee appointment set to 'cure' Nasdaq noncomplianceShares of Wins Finance Holdings Inc. ran up 92% in midday trading Wednesday, after the Beijing-based investment and asset management company said it believes it can "cure" its noncompliance with Nasdaq listing requirements with the recent addition to its board. The company disclosed late Tuesday that it had been notified by Nasdaq that because of the resignation of Shihai Wang from the company's audit committee and board of directors, the company was no longer in compliance with the Nasdaq's audit committee requirement for listing on the exchange. The company also said it appointed Jiyi Li to its audit committee and board. Wins said it believes the appointment of Jiyi Li "will cure this noncompliance." Wins's shares caused a stir earlier this month, as they rocketed nearly 7-fold (up 567%) on heavy volume in two days to June 11, with no news reported, prompting Wins to issue a statement saying it was "not aware of any material corporate developments that could account for this unusual trading activity." Short seller Hindenburg Research followed by saying Wins appears to be as the rally came after the Chinese courts froze assets on an operating subsidiary, and after its parent entity had been declared insolvent. Wins's stock has nearly quadrupled (up 259%) year to date, while the iShares MSCI China ETF has gained 2.8% and the S&P 500 has lost 5.8%.
4:38 a.m. June 13, 2020 - By Satyajit Das
Government’s cure for the coronavirus recession is worse for the global economy than the disease Heavy debt and slow economic growth threaten stocks, bonds and currenciesHeavy debt and slow economic growth threaten stocks, bonds and currencies, writes Satyajit Das.
7:16 p.m. June 9, 2020 - Associated Press
2 Americans accused of aiding Carlos Ghosn’s escape from Japan fight extradition Lawyers argue ‘bail jumping’ is not a crime in Japan, so helping a bail-jumper isn’t eitherA former Green Beret and his son accused of smuggling ex-Nissan Motor Co. Chairman Carlos Ghosn out of Japan in a box are fighting their extradition to the country, arguing the offense is not a crime there.
10:50 p.m. May 21, 2020 - Associated Press
Asian markets fall on U.S. friction with China, new Hong Kong worries Hang Seng slumps as China to consider bill limiting oppositionShares slipped in Asia on Friday as tensions flared between the U.S. and China and as more job losses compounded the economic fallout from the coronavirus pandemic.
2:19 p.m. May 20, 2020 - Associated Press
2 Massachusetts men arrested, accused of smuggling Carlos Ghosn out of Japan Pair wanted by Japan, face extraditionA former Green Beret and his son were arrested Wednesday in Massachusetts on charges they smuggled Nissan Motor Co. Chairman Carlos Ghosn out of Japan in a box while he awaited trial there on financial misconduct charges.
7:10 a.m. May 20, 2020 - By Quentin Fottrell
‘I was punished for being responsible. I filed my 2019 taxes early — and received almost no stimulus check’ ‘Is there anything I can do? I find this very unjust and poorly thought out’‘Is there anything I can do? I find this very unjust and poorly thought out.’
10:46 a.m. May 4, 2020 - By Satyajit Das
Coronavirus is crushing emerging markets. Why the rest of the world will pay a price Essential goods and raw materials to become scarcer, while demand for finished goods declinesEssential goods and raw materials to become scarcer post-pandemic, while demand for finished goods declines, writes Satyajit Das.
8:25 a.m. May 2, 2020 - By Quentin Fottrell
Can you alter your 2019 taxes in order to qualify for the $1,200 stimulus check? ‘In 2019, tax-law changes made it advantageous for me to claim my oldest as a dependent. I now regret doing that’‘In 2019, tax-law changes made it advantageous for me to claim my oldest as a dependent. I now regret doing that.’
4:23 a.m. May 1, 2020 - By Quentin Fottrell
My state is reopening restaurants and movie theaters. Am I selfish if I go, or am I selfish if I stay home? ‘I am torn between supporting our town and our nation’s economy, and ensuring that I don’t contribute to an increase in coronavirus infections’‘I am torn between supporting our town and our nation’s economy, and ensuring that I don’t contribute to an increase in coronavirus infections.’
10:19 a.m. April 30, 2020 - By Ciara Linnane
Coronavirus update: U.S. death toll tops 61,000 as President Trump says he will not extend social-distancing guidelines American Airlines posts more than $2 billion loss, and McDonald’s beats on revenue even with many restaurants closedThe U.S. death toll from the coronavirus that causes COVID-19 rose above 61,000 on Thursday, as President Donald Trump said he would not extend federal social-distancing guidelines that are set to expire tonight.
3:43 a.m. April 24, 2020 - By Quentin Fottrell
Couples earning over $150K get less than $2,400 in their stimulus check. Is that unfair — or too generous? Readers weigh in ‘Kids are expensive and they eat a lot, not to mention medical and dental bills, especially now that school is out’‘Kids are expensive and they eat a lot, not to mention medical and dental bills, especially now that school is out.’
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