- BusinessReuters
Exclusive: U.S. aims to lease space in emergency oil stockpile, after buying plan canceled - sources
The Trump administration plans to lease out space for energy companies to store oil in the nation's Strategic Petroleum Reserve, after a previous effort to buy millions of barrels for the emergency stockpile was canceled over a lack of funding, according to two people briefed on the matter. The new plan could help the United States deal with a growing glut of crude oil that risks overwhelming commercial storage tanks and sending world energy prices deeper into a tailspin as the coronavirus pandemic slashes demand for fuel. The plan is a change of tack from the initial scheme, which would have had the Department of Energy (DOE) purchase crude from domestic drilers using federal funds.
2222 reactions - U.S.USA TODAY
Trump plans to intervene on allowing Holland America cruise ships to dock in Florida
The Zaandam and Rotterdam crossed the Panama Canal and is en route to Florida, but whether the ships can dock remains a lingering question.
- BusinessThe Wrap
Fox to Raise $1.2 Billion After Saying Coronavirus May Have ‘Material’ Impact on Earnings
Fox says it plans to raise $1.2 billion through the sale of senior notes and use the money “for general corporate purposes.”Hey, everyone needs a little extra cash these days.Earlier on Tuesday, Fox became the latest major media corporation to tamp down any optimistic financial expectations. As a general rule, Fox does not provide actual financial guidance, so there were technically no specifics to alter.Also Read: Fox News Insider Denies Judge Jeanine Pirro Was Drunk, Explains 'Technical Difficulties' in 1st Home BroadcastWhile Fox News has been a bright spot as viewers flock to the network for information on the pandemic, a number of canceled or postponed sporting events are threatening to offset those gains. And then there are just regular TV and film productions that are on hiatus as social distancing has become our new normal.“The impact of coronavirus disease 2019 (COVID-19) and measures to prevent its spread are affecting the macroeconomic environment, as well as the business of Fox Corporation, in a number of ways,” the company said in a Tuesday SEC filing. “For example, while the company’s national news ratings remain strong, sports events for which the company has broadcast rights have been cancelled or postponed and the production of certain entertainment content the Company acquires has been suspended. The magnitude of the impacts will depend on the duration and extent of COVID-19 and the effect of governmental actions and consumer behavior in response to the pandemic and such governmental actions.”“The evolving and uncertain nature of this situation makes it challenging for the company to estimate the future performance of its businesses, particularly over the near to medium term, including the supply and demand for its services, its cash flows and its current and future advertising revenues,” it continued. “However, the impact of COVID-19 could have a material adverse effect on the company’s business, financial condition or results of operations over the near to medium term.”Read original story Fox to Raise $1.2 Billion After Saying Coronavirus May Have ‘Material’ Impact on Earnings At TheWrap
- BusinessAssociated Press
Booze buying surges; senators push airlines for cash refunds
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Tuesday related to the global economy, the work place and the spread of the virus. INDUSTRY: Less than a week after saying it planned to reopen five North American assembly plants, Ford has decided that those facilities will remain closed indefinitely.
- U.S.Good Morning America
I’m 28. My boyfriend and I both tested positive for COVID-19. Here's my message
A 28-year-old who said she and her boyfriend tested positive for the novel coronavirus is speaking out in hopes to remind the public that young, healthy adults are still at risk. Noemi Orofino and her boyfriend Julian, 31, are now in recovery after fighting the COVID-19 virus, the new respiratory illness in which hundreds of thousands have been diagnosed globally, according to data compiled by the Center for Systems Science and Engineering at Johns Hopkins University. Orofino, who works in fashion, began documenting her journey on Instagram after revealing she was positive.
- EntertainmentYahoo Celebrity
Andy Cohen shares coronavirus symptoms, urges people to get 'Tylenol and a pulse oximeter'
Andy Cohen shares what helped him recover from COVID-19.
- U.S.Time
'I Still Can't Believe What I'm Seeing.' What It’s Like to Live Across the Street From a Temporary Morgue During the Coronavirus Outbreak
The arrival of makeshift morgues has thrust the pandemic into full view as it envelops the nation’s largest city.
