Thursday, 16 July 2020

News "hour"!: thursday-16july2020!

News "hour"!: thursday-16july2020! thinks, the 'future' is getting "brighter"...!!!

Why Isn't Summer Stopping the Coronavirus?

Gizmodo|3 hours ago
The U.S. is now firmly in the middle of a second peak of the covid-19 pandemic, if still nestled inside its first wave. But given the rapid spread of the coronavirus during a time of the year when many similar diseases tend to lay low,
Bank of America posts a second-quarter profit that beat analysts' forecasts, though warns it is bracing for loan losses amid the ongoing coronavirus pandemic.
Bank of America's Profit Slides as It Braces for Loan Losses
Bank of America posts second-quarter earnings about half of what it earned a year ago and joins other banks in beefing up its reserves for big loan losses.
Bank of America  (BAC) - Get Report on Thursday posted a second-quarter profit that was roughly half of what it earned a year ago and warned that it was bracing for substantial loan losses amid the coronavirus pandemic that has temporarily stalled what banks see is a pending wave of consumer and business loan defaults.  

Bank of America said it earned $3.5 billion, or 37 cents a share, roughly half the $7.3 billion, or 74 cents a share, it earned in the comparable year-ago period. Analysts polled by FactSet had been expecting earnings of 28 cents a share. 

Revenue net of interest expense fell 3% to $22.3 billion from $23.1 billion a year ago.

Provisions for credit losses, meanwhile, a measure of what the bank expects to potentially write off in soured loans and other investments, rose to $5.1 billion, the bulk of which was driven by a $4 billion reserve build, the bank said. That was on top of the nearly $4.8 billion it set aside at the end of its first quarter.

Calling it “the most tumultuous period since the Great Depression,” CEO Brian Moynihan said in a statement that “strong capital markets results provided an important counterbalance to the Covid-19-related impacts on our consumer business.”

'I think I'm pretty effective:' Fauci says he's staying in his job despite 'complicated' relationship with Trump USA Today|2 hours ago
 Top infectious disease expert Dr. Anthony Fauci batted away criticism from President Donald Trump and his allies and made it clear he did not think he would be fired despite he called a "complicated" relationship with the president.

GOP Scales Back Convention Plans, Relenting On Virus Restrictions NPR|2 hours ago Attendance will be limited to delegates for most of the convention, a far smaller crowd that President Trump had insisted on. Health and safety protocols will also be in place.

Police: Brownsburg gunman shot cemetery worker unprovoked, was killed by armed passerby Indianapolis Star on|4 hours ago Police say Joshua Hayes launched an unprovoked attack on two men as they worked in a cemetery. He was stopped by a passing motorist who was armed.

Russia Hackers Are Linked to Sweeping Bid to Steal Vaccine Data Bloomberg on|52 minutes ago Russian state intelligence is hacking international research centers that are racing to develop a Covid-19 vaccine, the U.K., U.S. and Canadian governments said.

More shutdowns? All 9 Bay Area counties now qualify for state's coronavirus 'watch list' Mercury News|3 hours ago Bay Area News Group data analysis finds every county in the region has now crossed the state benchmark for elevated disease transmission — an ominous trend that can trigger new restrictions

Another 1.3 million Americans file for unemployment|3 hours ago
The Labor Department said in its weekly assessment Thursday that 1.3 million more American workers have filed for unemployment benefits.

China's Frothy Stocks Head for First Three-Day Loss Since May

Bloomberg on|10 hours ago
The exuberance in Chinese stocks is fading, as increasing tensions with the U.S., the central bank's clampdown on easy money and a drop in retail sales added up as reasons to start selling.

How Americans Became Part of the Trump Family
The Atlantic|44 minutes ago
How My Family Created the World's Most Dangerous Man by Mary L. Trump Simon & Schuster Here is part of an email alert that The New York Times sent to its readers over the weekend: "Breaking News: President Trump wore a mask publicly for the first time.

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