- J.C. Penney in Advanced Talks for Bankruptcy Financing “J.C. Penney Co. Inc. is in advanced talks for bankruptcy funding with a group of lenders, a sign the troubled retailer is about to succumb to the economic collapse caused by the coronavirus pandemic.” (Wall Street Journal, subscription required)
- Buildings Closed By Coronavirus Face Another Risk: Legionnaires’ Disease “Commercial buildings shuttered for weeks to stem the spread of the coronavirus could fuel another grisly lung infection: Legionnaires’ disease.” (Reuters)
- Instacart Hired 300,000 New Workers in One Month. Now It's Bringing on 250,000 More As It Grapples with a Surge in Demand “Instacart is on a hiring spree. The company announced Thursday that it would be hiring 250,000 new workers to help it meet the surge in demand for online delivery options during the coronavirus pandemic; it had already hired 300,000 new people in the past month.” (Business Insider)
- The Fed Will Keep Interest Rates Near Zero for at least 3 More Years, Economist Survey Says “The Federal Reserve's benchmark interest rate will remain at historically low levels - near zero - until at least 2023, economists surveyed by Bloomberg said. The forecasts come as the central bank aims to lift the economy from its coronavirus-induced slouch.” (Business Insider)
- Mortgage Bailout Balloons by Half a Million More Loans in One Week “As the economic shutdown drags on and job losses mount, more borrowers are opting to delay their monthly mortgage payments through mortgage forbearance plans.” (CNBC)
- With 100,000 Stores Set to Close by 2025, Mall Owners Face This Legal Hurdle Next “Mall and shopping center owners around the country are getting ready to come face to face with a major legal hurdle: Co-tenancy clauses.” (CNBC)
- Some Companies Seeking Bailouts Had Piles of Cash, Then Spent It “These companies had been highly profitable in recent years, yet they were seeking help from the federal government. Where had all their money gone?” (The New York Times)
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