May 7, 2020 - Energy & Environment

Dallas Fed boss warns of oil-sector bankruptcies amid coronavirus crisis

Photo: Paul Ratje/AFP/Getty Images

Federal Reserve Bank of Dallas President Robert Kaplan told Yahoo Finance Wednesday that he expects a substantial number of bankruptcies in the U.S. oil sector despite the recently expanded access to Fed's Main Street Lending Facility.

How it works: "[T]hat program will be designed for companies that would be already be creditworthy," said Kaplan, whose district has a large number of energy companies.

"If you're a company on the other hand, that is more highly leveraged than that, concerned about insolvency and other credit issues ... it's not going to be able to access those programs."
"And there will be a substantial number of bankruptcies, restructurings that are going to have to happen, because so much of production is being shut in."

What we're watching: Other policy levers the Trump administration may try and use to prop up battered domestic producers.

Go deeper: Whiting Petroleum files for bankruptcy as coronavirus takes a bite out of the economy

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Axios

Updated 4 hours ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Australian officials in Victoria announced Sunday 17 more deaths from COVID-19 — a new state and national record.

The big picture: Australia was on track to suppress the novel coronavirus in May, but cases have been spiking in Victoria in recent weeks, where a state of disaster was declared last week, enabling officials to introduce restrictions including a night-time curfew in state capital Melbourne.

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Axios

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 3 a.m. ET: 19,648,084 — Total deaths: 727,024 — Total recoveries — 11,941,723 — Map.
U.S.: Total confirmed cases as of 3 a.m. ET: 4,998,105 — Total deaths: 162,425 — Total recoveries: 1,643,118 — Total tests: 61,080,587 — Map.
Politics: Trump signs 4 executive actions on coronavirus aid — Democrats, and some Republicans, criticize the move
Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
Science: Indoor air is the next coronavirus frontline.
Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.

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Orion Rummler

Aug 7, 2020 - Health

Cuomo says all New York schools can reopen for in-person learning

Gov. Cuomo on July 23 in New York City. Photo: Jeenah Moon/Getty Images

New York Gov. Andrew Cuomo announced Friday that all school districts across the state can choose to reopen for in-person learning because it has so far maintained low enough coronavirus transmission rates.

Why it matters: It’s another sign that the state, once the global epicenter of the pandemic, has — at least for now — successfully curbed the spread of the virus even as infections have surged elsewhere around the country.