Carnival seeks $6 billion as Covid-19 pandemic devastates cruise industry

Carnival Corporation is seeking at least $6 billion to weather an unprecedented crisis that has decimated business, after coronavirus outbreaks aboard its cruise ships killed several passengers and sickened hundreds more. The cruise operator announced on Tuesday that it intends to raise $3 billion of secured notes and $1.75 billion of convertible notes — both…MORE

Asia markets, Dow futures fall after the index finishes its worst month since October 2008

Asia markets fell Wednesday, as the coronavirus pandemic worsened in Japan and investors digested Wall Street’s downbeat tone. Japan’s Nikkei 225 slumped 4.5%, Hong Kong’s Hang Seng Index fell 2.4% and China’s Shanghai Composite dipped 0.3%. Stock markets are reacting to “a likely increase in the duration and breadth of coronavirus lockdowns in the US…MORE

How some investors have profited from the stock market’s huge losses

Hedge fund manager Bill Ackman appeared on CNBC earlier this month tearfully begging for a nationwide shelter in place because he thought “hell” was coming.” But investors didn’t realize that Ackman was about to profit in a big way from the turmoil on Wall Street. Ackman recently disclosed in a shareholder letter to investors in…MORE

Walmart will start taking employees’ temperatures and let them wear masks

Walmart added to its worker safety policies Tuesday as protections for retail and grocery store workers come under greater public scrutiny. Walmart will begin taking workers’ temperatures at stores and warehouses before they begin their shifts. Any employee with a temperature above 100 degrees will be sent home to seek medical treatment, if necessary, but…MORE

The coronavirus pandemic could push 11 million people in Asia into poverty, World Bank warns

The economic fallout from the coronavirus pandemic could drive an additional 11 million people into poverty in East Asia and the Pacific unless “urgent action” is taken, the World Bank warned in a report released Monday. In the worse-case scenario outlined by the Washington-based financial institution, the region could suffer its sharpest downturn in more…MORE

Goldman Sachs now expects US unemployment to hit 15%

After a dismal winter, China’s economy is showing signs of life. But a recovery in Asia won’t paper over problems in the United States and Europe as the world sinks into recession. See here: Goldman Sachs has significantly downgraded its outlook for the US economy between April and June. The investment bank now expects an…MORE

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