News

Capital Markets

Saudi Investment Fuels Rally in Carnival Shares

The world's largest cruise operator is grappling with a heavy debt burden as it ships remain idled due to the coronavirus pandemic.

Matthew Heller
April 8, 2020
Financial Reporting

McDonald’s Pulls Outlook as Sales Plummet

The company raised $6.5 billion in the quarter and has suspended share buybacks.
M&A

SoFi Buys Payments Processor Galileo for $1.2B

The deal will add payments functionality to SoFi's growing array of consumer financial options.
Strategy

Exxon Cuts Spending by 30% Amid Demand Crash

Exxon's cut in 2020 capital spending is the largest any oil major has made in response to the coronavirus-driven slowdown.
People

Macy’s CFO Paula Price to Step Down

Price’s departure comes amid a massive retail shutdown that forced the company to close stores, furlough employees, and temporarily cut executive pay.
Corporate Finance

Airbnb Gets $1B Capital Infusion From PE Firms

The investment by Silver Lake and Sixth Street Partners comes as travel companies reel from a coronavirus-driven plunge in demand.
The Economy

Moody’s Sees Potential Recovery in 2nd Half of 2020

But downside risks to growth remain high as the spread of the coronavirus and duration of lockdowns remain “highly uncertain."
Credit

Mortgage Forbearance Requests Skyrocket as COVID-19 Halts Economy

A coalition of mortgage servicers say a liquidity facility is needed to support the market.
Credit

W.Va. Bank Fails After Years of Financial Woes

First State Bank had "experienced longstanding capital and asset quality issues, operating with financial difficulties since 2015,” the FDIC says.
Coronavirus

Airlines Meet Deadline for Payroll Grant Program

The $25 billion program is aimed at helping U.S. carriers weather the drastic drop in demand caused by the coronavirus crisis.
Coronavirus

Google Launches ‘Mobility Reports’ to Monitor Social Distancing

Public health officials said the data could be helpful as they make critical decisions to combat COVID-19.
Credit

Banks Brace for Crisis Loan Program Rollout

Lenders fear the launch of the $350 billion program could be "a disaster that could dwarf the failed kickoff of the Obamacare enrollment web site in 2013."
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