Following Multiple Inmate COVID-19 Deaths and Spike in Cases at State Prison, Citizens for a Pro-Business Delaware Slams State Correction Department for Rejecting Offer of 4,600 Facemasks, Calls on Agency to Reverse Decision and Accept Masks
(Bloomberg) -- Carnival Corp. plans to cut jobs, reduce salaries and shorten work weeks to cope with the pandemic-driven halt of cruising.The job cuts will include furloughs and permanent reductions, according to a statement Thursday from Carnival, the world’s biggest cruise company. Carnival said the cost-cutting moves, which will also hit senior management, will save hundreds of millions of dollars in cash on an annualized basis.Like the rest of the cruise industry, Carnival suspended voyages in mid-March after a series of coronavirus outbreaks on ships led to deaths and mass quarantines. Last month, the company netted $6.4 billion from new bonds, senior convertible notes and common stock to help it weather months without customers.Its flagship Carnival Cruise Line plans to restart some cruises on Aug. 1, with a “no-sail” order from the U.S. Centers for Disease Control and Prevention due to expire on July 24. But much of the fleet has...
For months, Tesla Chief Executive Elon Musk has been teasing investors, and rivals, with promises to reveal significant advances in battery technology during a "Battery Day" in late May. New, low-cost batteries designed to last for a million miles of use and enable electric Teslas to sell profitably for the same price or less than a gasoline vehicle are just part of Musk's agenda, people familiar with the plans told Reuters....
Cruise operators have been hammered by the curbs to contain the spread of the virus, with extended port quarantines in Japan and California due to deadly outbreaks on some cruise ships adding to the worries. "We continue to experience demand for voyages further in the future across our three brands," Chief Executive Officer Frank Del Rio said....
(Bloomberg) -- The biggest names in finance are coming around to a view that seemed unlikely a few weeks ago: Stocks are vastly overvalued.Legendary investors Stan Druckenmiller and David Tepper were the latest to weigh in after a historic market rebound, saying the risk-reward of holding shares is the worst they’ve encountered in years. Druckenmiller on Tuesday called a V-shaped recovery -- the idea the economy will quickly snap back as the coronavirus pandemic eases -- a “fantasy.” Tepper said Wednesday that next to 1999, equities are overvalued the most he’s ever seen.It’s a notion catching on among Wall Street money managers. And it’s coming as investors start to suspect that the Federal Reserve’s support, as well as $3 trillion in Treasury stimulus, may not be enough to compensate for soaring unemployment, a wave of bankruptcies and no end in sight to the pandemic. Managers including Bill Miller, Paul Singer and...
