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"Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy," Chief Executive Officer Jamie Dimon said. Dimon also said the bank will continue to pay dividend unless "the economic situation deteriorates materially and significantly"....
Delta Air Lines on Tuesday reported an adjusted pre-tax loss of $3.9 billion in the second quarter, as the COVID-19 pandemic that’s hammered the airline industry ravaged the company’s revenue....
JPMorgan boosts its credit reserves as the coronavirus crisis worsens worldwide....
(Bloomberg) -- Cruise ship operator Carnival Corp. is back in the debt markets this week, adding around $1 billion to the nearly $7 billion it’s borrowed since the coronavirus pandemic devastated the international tourism trade.The world’s largest cruise group is selling bonds to international investors in both euros and U.S. dollars, according to people familiar with the matter who asked not to be identified because the information isn’t public yet.The deal will come at a price. Early discussions with potential investors have suggested yields of around 10.5% on the euro debt and 11% on the dollar portion, according to one of the people. But that’s marginally cheaper than the 11.9% yield on a bond offering in April, before a sustained recovery in credit markets.The once mighty international tourism industry is among the worst hit of the Covid-19 pandemic. Cruise operators such as Carnival have been left with the huge overheads that...
