The Federal Aviation Administration is rejiggering staffing at air traffic control centers to respond to the dramatic falloff in flights and to reduce the impact of coronavirus cases.
Some of the roughly 200,000 workers at U.S. online grocery delivery company Instacart said they were striking on Monday as labor unrest grows globally over safety and wages for people working through the coronavirus crisis.
Low-cost U.S. carrier Spirit Airlines Inc said on Monday it will cancel all flights to and from New York, Connecticut and New Jersey after U.S. officials warned against travel to the area because of the COVID-19 pandemic.
Editor’s Note: Please join my colleagues and Tori Barnes from the U.S. Travel Association online at noon on April 1 for a live discussion of these issues and themes. We’ll present details from multiple industry sectors as well as explain what we know as of now. You can register here. I hope to (virtually) see […] …read more […]
Our world has been rocked…
Our social lives, work lives and financial lives have all been affected.
The markets went careening over a cliff and then bounced hard last week.
My professional world – the world of dividends – has been especially shaken.
The government’s $2 trillion stimulus package specifies that any company that receives aid cannot pay shareholders dividends until the loans are paid back.
With or without federal aid, some companies may not be able to afford dividends as their revenue and cash flow dry up. Boyd Gaming Corp. (NYSE: BYD) suspended its dividend, as its casinos have been closed to help combat …read more […]
(Bloomberg) — A group of sixteen banks will have to provide $23 billion of loans to T-Mobile US Inc. in order to allow the mobile carrier to close its planned acquisition of Sprint Corp., after the Covid-19 outbreak disrupted plans to sell the debt to third-party investors.The banks were formally notified Monday that they will need to make the funds available on April 1, so that the two companies can finalize their long-awaited merger, according to people familiar with the matter, who asked not to be identified because the conversations are private.The banks will have to come up with the …read more […]
American Airlines Holdings Inc intends to apply for up to $12 billion in government aid, ensuring no involuntary layoffs or pay cuts in the next six months, executives said in a memo to employees on Monday. American is eligible for about $6 billion in payroll grants and $6 billion in loans under a stimulus package meant to help airlines and other businesses weather a downturn from the coronavirus. Between the government funds and its own cash position, American will be able to fly “through even the worst of potential future scenarios,” Chief Executive Doug Parker and President …read more […]
Stock futures were roughly flat Monday evening after a regular-session rally sent the Dow higher by 690 points, or 3.2%. …read more […]
As grocery outlets and retailers across the country ramp up employment to keep up with demand during the coronavirus outbreak, they’re also facing growing backlash from workers who say their lives are being put at risk. …read more […]
(Bloomberg) — Two of the biggest drillers in America’s largest oil-producing state have asked Texas regulators to consider a cut to crude output after a historic price crash.Pioneer Natural Resources Co. and Parsley Energy Inc. asked the three-member Texas Railroad Commission on Monday to call an emergency virtual meeting no later than April 13 and issue an order setting the “reasonable market demand for oil from Texas” for May, according a five-page letter shared with Bloomberg News. Ryan Sitton, one of the commissioners, said earlier on Monday that the regulating body would discuss curbing oil output at its next meeting.“We …read more […]
At present, it seems everything is moving at an accelerated speed. Whether concerning the daily escalation of coronavirus cases, the programs being put into place to combat the economic effect, or the global race to find a vaccine/treatment to halt the pandemic.If you’re a watcher of the comings and goings on Wall Street, then you can add the speed at which companies are currently reevaluated to the list, too. Which brings us to Roku (ROKU).The present situation has caused a rethink at investment firm Wedbush on its model for the streaming player. The updated outlook is a subtle one, but …read more […]
Credit Suisse bank could restrain 2020 bonuses in a show of unity with victims of the coronavirus epidemic in Switzerland, Chief Executive Thomas Gottstein said on Monday.
The official count of the number of people with coronavirus, or COVID-19, is likely to grossly underestimate the actual stats, according to a public health expert. …read more […]
The U.S. government has cut deals with Johnson & Johnson and Moderna Inc and said it is in talks with at least two other companies to prepare them to produce massive quantities of coronavirus vaccines even before safe and effective ones become available.
Visa Inc said on Monday its transaction volumes had been hit as the coronavirus pandemic wreaks havoc on consumer spending, leading it to forecast mid-single-digit percentage revenue growth for the second quarter.
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