Sycamore Partners backs out of coronavirus-stricken deal for Victoria’s Secret
Buyout firm Sycamore Partners disclosed on Wednesday it had walked away from a $525 million deal to acquire a majority stake in Victoria’s Secret, after the lingerie brand shut down stores and furloughed staff in response to the coronavirus outbreak.
U.S. Treasury market faces structural issues even as liquidity improves
The recent liquidity crisis in the $17 trillion U.S. Treasury market has exposed structural problems that are unlikely to be fixed any time soon, which could lead to new bouts of volatility and make it more costly for the U.S. government to sell bonds….
U.S. House expects to pass $500 billion coronavirus bill, avoids fight over remote voting
The U.S. House of Representatives expects to pass a nearly $500 billion coronavirus relief bill on Thursday but will put off any decision on changing its voting rules during the pandemic, avoiding a potential partisan fight.
Cash is king as U.S. quarterly reporting season gains steam
As the U.S. quarterly earnings season picks up steam this week, investors are getting a glimpse of how companies are weathering the coronavirus outbreak, including the strength of their balance sheets.
EU says air travel will require social distancing, U.S. airlines taking their own steps
The European Commission will next month present a set of rules for the safe reopening of air travel when coronavirus lockdowns end, including social distancing in airports and planes, while some U.S. airlines are taking their own protective measures.
Pricing the benefits of cheap oil in a world of economic lockdowns
The oil price collapse that took U.S. crude prices sub-zero for the first time in history may turn out to be a silver lining for the world economy, possibly offering a springboard for recovery when coronavirus lockdowns finally end.
Kraft-Heinz extends factory worker bonuses in pandemic
Kraft Heinz will extend for two weeks a $100 per week stipend for factory workers producing its packaged foods during the COVID-19 pandemic, the company said on Wednesday.
Brent crude rebounds from 1999 lows, U.S. oil up more than 25% in wild trade
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative discussions of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some anticipated.
Oil exec and Trump ally Hamm seeks U.S. probe of oil price crash
The founder of Continental Resources Inc , an ally of U.S. President Donald Trump, is pressing the U.S. commodity markets regulator and the exchange to probe whether market manipulation or system failure was behind this week’s unprecedented plunge in U…
Google says state-backed hackers increasing coronavirus phishing attacks
Security experts at Alphabet Inc’s Google have identified more than a dozen government-backed hacking groups using the COVID-19 pandemic as cover for phishing and malware attempts.
