Bed Bath & Beyond (BBBY) stock cratered Thursday after the embattled retailer revealed in a new regulatory filing it was hit with a default notice from JPMorgan and does not have adequate funds to repay its loans. This coming while the company again warned it may be forced to seek bankruptcy protection amid its ongoing financial struggles. Shares of the company fell as much as 33% on Thursday afternoon, at one point prompting a brief halt. The stock closed Thursday’s session off 22%. Though… Source link
Read More »Russia Defaults on Foreign Debt for First Time Since 1918
(Bloomberg) — Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. Most Read from Bloomberg For months, the country found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about $100 million of snared interest payments due May 27 expired, a deadline considered an event of… Source link
Read More »The stock market would plunge 33% if the government defaults: Moody’s
President Joe Biden very often cites research from Moody’s when he is trying to make a point on the U.S. economy. He should use the latest from Moody’s Mark Zandi to emphasize any point being made to fellow politicians on both sides of the aisle on the need to get a debt ceiling deal done ASAP. “Shutting the government down would not be an immediate hit to the economy, but a default would be a catastrophic blow to the nascent economic recovery from the COVID-19 pandemic,” said Zandi, the… Source link
Read More »Google rolls out Chrome 90, which defaults to HTTPS instead of HTTP
The Daily Beast When Your Wife Dimes You Out to the FBI as a Capitol Rioter Photo Illustration by The Daily Beast/GettyImagine the FBI knocking on your door to question you about your participation in the deadly pro-Trump riot at the U.S. Capitol. You’re foolish enough to invite them, without your legal counsel present, into your home, at which point the feds show you a photo—of you, rioting. You think you can wiggle your way out of this. You lie, and tell them that it’s not you in the… Source link
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