Latest coronavirus: Los Angeles cuts off Hollywood mansion’s utilities for Covid-19 violations

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One of New York’s largest teachers’ unions has said schools in the city are not expected to reopen in the fall unless they meet certain health criteria. Michael Mulgrew, president of the United Teachers’ Federation, said the plan presented by New York lacks transparency and clarity and contained unattainable requirements.
The number of Covid-19 infections confirmed by tests continued to progress in France Wednesday, reaching 3,776 in 24 hours, a new record since the lockout was eased in mid-May. The number of hospital admissions for Covid-19 has stabilized in recent days with 4,806 patients, of whom 376 were in intensive care.
US stocks fell a day after the close to record highs as investors analyzed the latest sales figures from major retailers and the Federal Reserve policy meeting. The S&P 500 lost 0.4%, led by real estate and energy actions. The Nasdaq fell 0.6% and the Dow Jones Industrial Average fell 0.3%.
The pound jumped to trade near its highest level this year against the dollar, erasing the steep losses suffered at the start of the coronavirus pandemic. The British currency traded at $ 1.3267 on Wednesday. On January 1, the pound was trading at $ 1.3275. The pound sterling has gained almost 8% in the past three months.

US carrier Southwest Airlines plans burn less money in the current quarter than previously expected, but anticipates a deeper capacity reduction as it warned that demand is irregular. The Dallas-based company said Wednesday it plans to burn about $ 20 million per day in the third quarter, down from its projection of about $ 23 million.
Valaris, the world’s largest owner of offshore drilling rigs, became the last oil company to succumb to bankruptcy as a result of the fall in prices this year. The group said on Wednesday it had reached an agreement with half of its noteholders to engage in a bankruptcy program that would reduce its debt by more than $ 6.5 billion.
The owner of TJ Maxx and Marshalls has predict a new weakness in sales within three months to November. TJX said on Wednesday that it expects open-only comparable sales to decline 10-20% year-over-year in its fiscal third quarter. This compares to a 3% drop in the quarter that ended August 1.
U.S. big box retailer Target reported largest increase in quarterly sales in its 58 years of history. The company on Wednesday revealed a 24% year-over-year increase in second-quarter like-for-like sales. Sales of electronics increased by over 70% and kitchenware by 30%.

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