Daily Archive: June 13, 2020

Beijing district in ‘wartime emergency’ after virus spike shuts market By Reuters

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© Reuters. Security guards wearing face masks stand outside the Jingshen seafood market which has been closed for business after new coronavirus infections were detected, in Beijing

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By Cate Cadell and Ryan Woo

BEIJING (Reuters) – A district of Beijing was on a “wartime” footing and the capital banned tourism on Saturday after a cluster of novel coronavirus infections centred around a major wholesale market sparked fears of a new wave of COVID-19.

Concern is growing of a second wave of the pandemic, which has infected more than 7.66 million people worldwide and killed more than 420,000, even in many countries that seemed to have curbed its spread.

The virus was first reported at a seafood market in Wuhan, the capital of central China’s Hubei province, in December.

Chu Junwei, an official of Beijing’s southwestern Fengtai district, told a briefing on Saturday that the district was in “wartime

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Hertz surges on plan to sell $1-billion more of its ‘worthless’ stock to eager investors

Hertz Global Holdings Inc., whose stock appears destined to be wiped out when its bankruptcy case is finished, wants to sell US$1 billion more of its shares, even though it readily concedes those might wind up worthless, too. Investors promptly bid up Hertz by 68 per cent.

The car renter wants to take advantage of the quixotic rally in its stock by offering as many as 246.78 million common shares, according to a court filing. The proceeds would provide some much-needed working capital while Hertz tries to dig out from massive debts that forced it into court protection. Judge Mary Walrath set a hearing for later today to consider the idea.

“This is what I love about bankruptcy — there’s never a dull moment,” said Melanie Cyganowski, a former bankruptcy judge now with the law firm Otterbourg, who said she hasn’t seen a financing like this.

Hertz gained 41 per

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Adobe’s CEO on how the company is posting record results amid economic chaos

Adobe CEO Shantanu Narayen’s virtual meeting just prior to speaking with Fortune got interrupted. The culprit? An employee’s dog. What pre-lockdown might have been an awkward moment was instead met with oohs and aahs from fellow remote attendees after Narayen asked the employee to introduce the cute canine.

When the San Jose–based software company moved its 22,000-person global workforce to working remotely in March, Narayen says the priority was employee well-being during these unprecedented global lockdowns. But Adobe has found that some employees are thriving and more productive as they revel in losing their grueling commutes. While it’s too early to commit to specific policies, Narayen says, once the crisis ends Adobe will incorporate more remote working for staff who prefer it.

“I can literally have meetings with customers and employees across four continents in the same day,” Narayen says. Prior to the pandemic, Narayen would give his Japanese clients … Read More