Daily Archive: June 26, 2020

U.S. sets one-day record for COVID-19 cases, Texas pauses reopening By Reuters

© Reuters. News conference at LaGuardia Airport’s new Terminal B in New York


By Brad Brooks

LUBBOCK, Texas (Reuters) – The governor of Texas temporarily halted the state’s reopening on Thursday as COVID-19 infections and hospitalizations surged and the country set a new record for a one-day increase in cases.

Texas, which has been at the forefront of efforts to reopen devastated economies shut down in the face of the coronavirus pandemic, has seen one of the biggest jumps in new cases, reporting more than 6,000 in a single day on Monday.

“This temporary pause will help our state corral the spread until we can safely enter the next phase of opening our state for business,” Governor Greg Abbott, a two-term Republican, said in a statement.

Texas has also set record hospitalizations for 13 days in a row. Abbott has suspended elective surgeries in the Houston, Dallas, Austin

Read More

Don’t buy ‘worthless’ Hertz stock and other investing wisdom from the pandemic

The COVID-19 crisis has been devastating in many ways. In addition to the human toll, there is of course a big economic impact from having everyone stuck at home for months at a time. We will leave the science, vaccine and health debate to the experts. After all, this is a financial column. So, let’s see what investors can learn from the current stock market, economic and financial fallout from the crisis.

You can’t time the market

Really. You can’t. If investors take away anything from the crisis, it should be this: You can’t time the market. Now, most market experts have been telling you this for years, but if you don’t believe it now, you never will. In March, as the severity of the crisis became clear, markets plunged. Everyone — and we mean everyone — expected a very weak stock market, as businesses closed and consumers stayed home

Read More

Epstein’s victims get a chance to claim a share of his $600 million estate

Women who accused Jeffrey Epstein of sexually assaulting them can begin filing claims and collecting compensation from his estate, valued at more than $600 million.

The compensation fund opened Thursday after months of back-and-forth between the estate and the U.S. Virgin Islands, where Epstein owned property and took many of the girls and young women he was accused of attacking. The final hurdle was cleared after the estate agreed to set aside funds for future claims, from the Virgin Islands or elsewhere, and strengthened rules to protect the women’s rights and privacy.

The program “provides the victims who were sexually abused by Jeffrey Epstein an opportunity to resolve their claims outside of court, beyond the glare of public proceedings and without the cost and confrontation of litigation,” Jordana Feldman, the fund’s administrator, said at a news conference. She said no amount of money could undo their suffering but that the … Read More