The S&P 500 is plunging at unprecedented speed
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. US stocks have already notched their worst week since the global financial crisis. The pain is deepening on Friday. What’s happening: Global stocks have entered their seventh straight trading day in the…… MORE
The music industry was left for dead a few years ago. Now it’s booming again
The music industry was in crisis just a few years ago. Sales were cut in half from their peak as single downloads, YouTube and piracy made the CD album go virtually extinct. But music has found its white knight: streaming. Last year, recorded music revenues in the United States went up by 13% to $11.1…… MORE
Geneva car show canceled as coronavirus spreads in Europe
Next week’s Geneva Motor Show has been canceled because of coronavirus fears, striking a marquee event from the global auto industry’s calendar as it braces for a third year of recession. Switzerland’s Federal Office of Public Health on Friday said that gatherings of more than 1,000 people had been banned through at least March 15…… MORE
The coronavirus has grounded Chinese tourists. The global travel industry may not recover for years
Countries around the world have been eager to cash in on the rising spending power of Chinese travelers. Shops advertise Mandarin speaking salespeople, the United States and Japan offer 10-year visas, and hotels and duty-free retailers accept China’s Alipay and WeChat Pay apps. The travel boom has come to a screeching halt since late January,…… MORE
Hong Kong pro-democracy media mogul Jimmy Lai arrested for ‘illegal assembly’ over 2019 protest
A Hong Kong tycoon known for his outspoken support of the city’s pro-democracy movement and criticism of China was arrested Friday, along with two other prominent pro-democracy figures. A police spokesman said that three men aged 63 to 72 have been arrested for “illegal assembly” in relation to a protest march on August 31, 2019.…… MORE
Tokyo Disney parks closing for two weeks over coronavirus
Disney is closing down its theme parks in Japan as the novel coronavirus outbreak in that country escalates. Tokyo Disneyland and DisneySea will shut down on Saturday and stay closed through March 15, the parks’ operator Oriental Land announced on Friday. The closure comes in the wake of a request by Japan’s government to cancel…… MORE
How Trump and his Fox News allies are infecting the public trust amid coronavirus concerns
In times of emergency — whether it’s a major hurricane, terror attack, or health crisis — the public relies on the press for much-needed information. In some of these cases, it can be a matter of life and death. And given the current coronavirus outlook, there will soon be a lot of questions the public…… MORE
Chicago Tribune shakeup rankles newsroom staffers
Chicago Tribune staffers on Thursday learned about a massive shakeup in its masthead through a series of morning emails. Editor-in-chief Bruce Dold and Managing Editor Peter Kendall were leaving. Colin McMahon, senior vice president and chief content officer at the newspaper’s parent company Tribune Publishing, would take over as editor in chief. The departures of…… MORE
Global stocks plummet again in worst week since 2008 financial crisis
Global stock markets plummeted for a seventh consecutive day on Friday as the coronavirus continued to spread, increasing fears that the epidemic will wipe out corporate profits and push some of the world’s biggest economies into recession. China’s Shanghai Composite closed down 3.7%, bringing losses for the week to 5.6%, the index’s worst performance since…… MORE
Buy shares of this mask supplier to survive the selloff: analysts
As the deadly coronavirus sweeps the globe and slams businesses across multiple industries, one company could dodge the selloff. Best known as the maker of Scotch tape and Post-It notes, 3M also happens to be one of the largest producers of N95 respirators, the type of mask that more efficiently protects people against the virus…… MORE
