Accounting & Tax
Credit & Capital
Risk & Compliance
Weekly Jobless Claims Soar to Record 6.64M
Job losses amid the coronavirus pandemic amount to "a staggering, sudden blow to American workers never seen before in the U.S. economy."
Zoom Issues Apology After Security Lapses
The company promised to freeze work on other features and focus entirely on privacy for 90 days.
FTC Sues to Reverse Altria’s Investment in Juul
“Altria and Juul turned from competitors to collaborators by eliminating competition and sharing in Juul’s profits."
Global Manufacturing Dives Amid Virus Lockdowns
Even export powerhouses Germany and Japan saw steep decreases in factory output last month as the coronavirus upended supply chains and crushed demand.
Whiting Petroleum Files for Bankruptcy Amid Oil Price Plunge
The company has enough liquidity to keep operating during the restructuring without the need for additional financing.
Xerox Bows to Virus, Drops HP Takeover Fight
The market values of both companies have declined since the coronavirus pandemic intensified.
Fed Offers Liquidity to Foreign Central Banks
The new FIMA Repo Facility is the Fed's latest move to relieve stresses in financial markets resulting from the coronavirus crisis.
Zoom’s Privacy Practices Questioned Amid Rising Popularity
The New York Attorney General wants to know what measures the video conferencing app is taking to ensure user privacy.
Moody’s Cuts Corporate Debt Outlook to Negative
The Fed's unusual intervention in the market will help but "is unlikely to prevent distress at businesses with less certain long-term viability."
Mortgage Company Suspends Lending for Two Weeks
Impac Mortgage hopes the pause will give the Fed's efforts to stabilize the mortgage-backed security markets time to take effect.
Fitch Lowers Outlook for Consumer Finance Sector
Loan forbearance offers to coronavirus-hit consumers are "prudent" but lenders' credit performance could “deteriorate rapidly” once they expire.
SoftBank-Backed Satellite Startup Files for Bankruptcy
OneWeb said it couldn’t obtain new funding from investors due to the financial impact of the COVID-19 pandemic.
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