Tag: sep 29 2020

Investors pulled $4.86 billion out of junk bond funds during the week ending 23 September, the market’s worst weekly sell-off since March. BlackRock’s iShares high-yield bond fund had $2 billion taken out of it on Monday and Tuesday alone. The average yield on U.S. junk bonds rose to 5.83 percent on 23 September to its...

How bad is it in the current world of businesses, careers, jobs, and professions… and how low will it go? Here is our latest overview of those suffering from the draconian economic lockdowns imposed upon society. DISNEY FIRING SQUAD: Walt Disney’s Great-Niece, Abigail Disney, who is not a fan of Disney management, warned back in late...

CANADIAN BUSINESSES FACE “L-SHAPED RECOVERY.” Canada’s small businesses will not see sales return to pre-pandemic levels until February 2022, and the hotel industry will not return to normal until 2029, if the nation’s economic recovery continues at its current “glacial” pace, warned the Canadian Federation of Independent Business (CFIB) on 22 September. A new survey...

The CDC has warned consumers to avoid the usual crush of holiday shopping that begins on “Black Friday,” the traditional day on which shoppers push past each other and crowd together in store aisles to grab the season’s gifts of choice. Among the CDC’s holiday guidelines for sharing the upcoming holidays with the COVID virus:...

Landlords around the U.S. have filed at least 26 lawsuits challenging the federal ban on evictions, claiming the moratorium violates their property rights and places them under undue hardship. Seven landlords managing more than 5,000 apartments in Memphis, TN, are suing the federal government for denying them due process and pre-empting state laws. The National...

About 55 percent of all small U.S. travel-related businesses will either need more than six months to recover from the economic shutdown or will never be able to recover at all, the U.S. Travel Association has warned. Lodging and food service businesses employed one in ten Americans before the pandemic, with 95 percent of those...

As more people work from home, shop online, and avoid unessential travel, hotels, shopping malls, and office buildings are rapidly losing their value and their owners are scrambling to survive financially. Brookfield Property Partners, one of the U.S.’s largest mall owners, is laying off 20 percent of its 2,000 employees in its retail property division....

After talking with corporate clients, Amar Lalvani has concluded that business travel will not return to pre-pandemic levels “for multiple years.” Lalvani, CEO of Standard International, which owns two Standard hotels in New York City, says the Standard High Line inn’s weekday business trade – the core of its business – has fallen to a...

The economic recovery would accelerate “if there is support coming from Congress and from the Fed,” said Jerome Powell, Chair of the U.S. Federal Reserve, in testimony before Congress on 23 September. “The power of fiscal policy really is unequaled by anything else,” he contended. Although about half of the 22 million workers who lost...