News Archive for Mar 30, 2020

    NotableQuotable: Price Gouging

    ‘At something close to normal prices, it is unlikely that a firm will buy the additional capital equipment necessary.’

    Shale Producers Ask Texas to Cut Oil Output

    Two leading shale producers in America’s hottest oilfield are formally asking Texas regulators to consider curtailing crude output in the state as the industry grapples with collapsing demand and plunging prices.

    New York Hospitals Plan Coordination as Deaths Top 1,200

    A U.S. Navy hospital ship arrived in New York City on Monday to help alleviate the strain of the coronavirus crisis on local hospitals, as Gov. Andrew Cuomo outlined a new statewide plan to coordinate medical care for the infected.

    Stock Investors Buy Into Corporate Bond Surge
    Credit Markets

    Companies ranging from Oracle to Nike are borrowing record amounts in the investment-grade bond market to build cash before the full impact of the novel coronavirus hits the U.S. economy.

    Coronavirus Creates an Epidemic of Scams

    Scammers are trying to cash in on the nation’s panic over the coronavirus by peddling fake cures, soliciting donations to phony charities and selling needed items like hand sanitizer and toilet paper at jacked-up prices.

    Disney Chairman Iger, CEO Chapek to Take Pay Cuts

    Walt Disney said Chairman and former CEO Robert Iger has agreed to forgo most of his salary while his successor, CEO Bob Chapek, along with several executives, will take pay cuts amid the coronavirus pandemic.

    Wild Learning
    Television Review

    Adorable animals, fantastic fish and enlightened animation offer family-friendly programming with a mental boost.

    Guard at Cowboy Museum Becomes Internet Sensation
    Arts & Entertainment

    The coronavirus forced Tim Tiller to take over social media for The National Cowboy & Western Heritage Museum in Oklahoma City. His way with hashtags endeared him to thousands online.

    Coronavirus Dooms Movie-Seat Supplier’s Restructuring Hopes
    Pro Bankruptcy Bankruptcy

    VIP Cinema Holdings, which makes reclining seats for movie theaters, is shutting down for good after economic fallout from the coronavirus pandemic made a proposed restructuring impossible, according to people familiar with the matter.

    Barclays Pledges Net Zero Emissions by 2050
    Risk & Compliance Journal

    Barclays said it would aim to be a net-zero bank by 2050 by aligning the emissions of the activities it finances across all sectors with the Paris Agreement on climate change.

    Israel Fights Coronavirus Spread Among Ultra-Orthodox Jews
    Middle East

    Israel is struggling to contain a concentration of coronavirus infections among ultra-Orthodox Jews, with the impact reaching Prime Minister Benjamin Netanyahu, who went into isolation after an adviser from the community tested positive.

    Oil-Field Servicer CARBO Ceramics Files for Bankruptcy
    Pro Bankruptcy Beyond Bankruptcy

    The Houston-based company, which provides ceramic technology used by shale drillers that rely on hydraulic fracturing, filed for chapter 11 protection with a deal that hands control of the company to senior lenders owed $65 million.

    The Trump-CNN Consensus
    Best of the Web

    Plus, a New York Times columnist discovers companies unworthy of subsidies.

    Using Drugs Off Label for Treating Covid-19

    Allow very sick patients to make the choice for themselves: assume the risks of a drug not yet FDA-cleared along with the potential benefits. Within that system, every patient should be tracked for outcome.

    Some Emergency Powers Need Congress’s OK

    The avoidance of military law enforcement is a central principle of the Declaration of Independence, Constitution, and Bill of Rights. The governors and Congress will authorize its use when truly necessary. The president alone may not.

    How Zac Posen Is Relieving Stress During the Coronavirus Crisis
    How I Cope

    To relieve stress during the coronavirus shutdown, fashion designer Zac Posen is monitoring his news intake, working in his garden and filming cooking videos. “It’s been a big change to get into this new rhythm but it’s really helping me get through the day with less anxiety.”

    Hungary’s Orban Wins Right to Rule by Decree

    Hungary’s parliament gave Prime Minister Viktor Orbán the right to rule by decree until his government decides the coronavirus crisis has ended, defying criticism from the European Union.

    How to Avoid Another Great Recession
    Capital Account

    The U.S. economy has suffered a body blow with no modern precedent. Unemploymentcould top 10% in coming months, higher than its peak in the 2008-09 recession. Some see it hitting levels unseen since the Great Depression. But it isn’t a foregone conclusion that this must become another great recession.

    Chinese Car Sales After the Crash
    Heard on the Street

    Even with some help from the Chinese government, the world’s largest car market may struggle to win back consumers.

    Paris Hilton on Her Biggest Necessity

    “[With A Simple Life,] I was portraying what I thought the public wanted, which was basically this blond airhead. But in real life I’ve never been that way.”

    A Small Town Deals With Its Lockdown

    In Fisher, Ill., population 1,900, a community banker worries that some businesses could be devastated by the economic fallout of coronavirus.

    Janitor Braves Coronavirus Worries, Clings to Work
    Making It Work

    Elsa Romero, who cleans two floors at the Miami Tower, is holding on to her job even as the building empties out and more office workers choose to ride out the coronavirus pandemic at home. “I don’t have a plan B,” she said.

    Researchers Unleash More Computing Power Against Coronavirus
    CIO Journal

    The world of supercomputing is pivoting to the novel coronavirus, with some other projects being paused as researchers focus on finding treatments and vaccines as well as studying the spread of the virus and assessing the impact of social-distancing measures.

    Coronavirus Is Forcing Pregnant Women to Make Tough Choices

    With some hospitals barring partners from delivery rooms and doctors limiting in-person interactions with patients, some women have decided to leave coronavirus hot spots like New York to give birth. Others are considering home births or asking to be induced before the epidemic worsens.

    Florida Avoids Statewide Coronavirus Lockdown

    If Gov. Ron DeSantis is correct, he could contain the virus’s spread while limiting upheaval in rural areas. If he is wrong, he could expose a state with a large population of seniors to a bigger wave of disease.

    Macy’s, Gap to Furlough Most Workers

    The retailers will furlough the majority of their store workers, highlighting the limits of the $2 trillion rescue package for U.S. businesses that have been cut off from their customers.

    U.S. Extends Shutdowns as Virus Strains Hospitals

    Americans prepared for a prolonged lockdown and the country’s worst-hit city expanded its capacity to care for sick patients as a continuing surge of confirmed new coronavirus cases brought the U.S. total to nearly 160,000.

    GM Hustles to Pump Out Ventilators to Fight Coronavirus

    When President Trump last week criticized General Motors’ effort to produce ventilators, executives were flabbergasted. GM began collaborating with a ventilator company a couple of weeks earlier, and has mobilized more than 1,000 employees and nearly 100 auto suppliers for the task.

    Notes on the Pandemic

    We’re offering you notes on the pandemic, featuring the voices of young adults who are navigating this unsettling moment — and our voices, too, since we’re all in this together.

    Stocks Rise; Oil Drops to 18-Year Low
    U.S. Markets

    Investors are grappling with the mounting economic toll after U.S. government officials signaled that measures to contain the coronavirus pandemic may remain in place for many weeks.

    All the Tech Tips for Your New Work-From-Home Life
    Personal Technology

    Slow Wi-Fi? Incessant notifications? Slack taking over your life? You aren’t alone. WSJ’s Joanna Stern provides daily solutions to readers’ tech problems. She has gathered them here.

    Hidden Chinese Lending Puts Emerging-Market Economies at Risk

    More than $200 billion in Chinese overseas lending hasn’t shown up in official data in recent years, allowing emerging markets indebted to China to also borrow from other investors. Now borrowers are at risk of drowning in debt and investors face the reality that China may be ahead of them in collecting.