Author Archives: YugeDebt

Patrick Hutchinson, Black Lives Matter protester who carried opposing demonstrator to safety, says he wants ‘equality for all of us’

  Patrick Hutchinson – a black man pictured carrying an injured white man to safety –  said he feared he would die had he not intervened. A photograph of Mr. Hutchinson with the counter-protester over his shoulder went viral after violent clashes in London this past weekend.    

U. S. Stock Markets: Dow slumps 1,000+ points….

U.S. stock markets swooned Thursday morning as Coronavirus cases continued to rise Investors digested Wednesday’s downbeat economic outlook from the Federal Reserve. The stock market moves came even as the number of Americans filing for unemployment benefits for the first time declined again in the most recent week.     How are benchmarks performing? Dow […]

Stock markets rally into the close | Dow jumps 400 points

Stock markets rose broadly on Monday as traders grew more optimistic about the prospects of an economic recovery.  Dow Jones Industrial Average traded 400 points higher, or 1.4%. S&P 500 climbed 0.9% and is is down just 0.2% for the year.   Nasdaq Composite was up 0.7% and hit a fresh record high.   

Stock Market Record Highs and Strong Employment Numbers!

The Nasdaq Composite Index surged to a record high Friday after the U.S. economy unexpectedly added jobs in May as businesses began reopening their doors following lockdowns ordered to slow the spread of the coronavirus. DOW JONES AVERAGES:  27,068.2 S&P 500:  3,191.33 NASDAQ COMPOSITE INDEX:  9,809.092904    

Former LA Lakers star Earvin “Magic” Johnson Offers $100 Million in Loans to Minority Businesses Hit By COVID-19

  Former Los Angeles Lakers guard and team president Earvin “Magic” Johnson announced his life insurance company will provide $100 million for women- and minority-owned small businesses as part of the Paycheck Protection Program (PPP). Johnson, the owner of EquiTrust, the nation’s largest minority-owned insurance company, will partner with MBE Capital Partners, a Latino-owned company, […]

Coronavirus Casualty: J. C. Penney Files for Bankruptcy & Closes 242 Stores

J. C. Penney department store has become the latest retail casualty of the coronavirus crisis. The iconic American department store chain has filed for bankruptcy and will close 242 stores as it restructures its $5.7 billion dollar debt load.  The 118-year-old department store chain suffered a decade of falling sales which has been exacerbated by the […]

Coronavirus PPP Fraud Investigation: U. S. Justice Department Subpoenas Wall Street Banks for Small Business Loans Information

  Reuters reports that the U.S. Justice Department has sent grand jury subpoenas to large banks seeking records as part of a broader investigation into potential abuse of the Paycheck Protection Program – a $660 billion emergency loan program to help small businesses hurt by the novel coronavirus. fraud.