Latest coronavirus: Spain exceeds 400,000 cases of Covid-19

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Large bankruptcies of US companies are proceeding at a record pace this year and are expected to exceed levels of the financial crisis in 2009. As of August 17, 45 companies with assets over $ 1 billion have filed for claims. Chapter 11 Bankruptcy, a common way for struggling companies to reorganize, according to New Generation Research.
U.S. stocks this week hit an all-time high, losses back inflicted by the coronavirus pandemic. But the stock prices of a fifth of the S&P 500 companies were more than 50% below their all-time highs on Friday, and the index’s average stock is 28.4% below its peak, according to Cornerstone Macro, a research group.
Frantic buying by Malaysian retail investors of hot stocks such as rubber glove manufacturers pushed trading volumes on the country’s stock exchange to record highs, prompting the stock exchange to consider measures to stem the frenzy. The year-to-date turnover has already exceeded last year’s total by 20% to 143.8 billion ringgit ($ 34.5 billion).
The cartel of the French champagne sector of winegrowers and producers accepted last week a sharp reduction in annual harvests as sales collapsed during the coronavirus pandemic. “Champagne is synonymous with celebration,” said David Faivre of Champagne R. Faivre. “And the whole world is not doing that right now.”

Business activity in the UK was at its highest level for nearly seven years in August, according to the latest purchasing managers index, rising to 60.3 from 57 in July. Tim Moore, chief economic officer of IHS Markit, said the “staycations” and the “eat out to help” program, pictured, would stimulate growth in the service sector in August.
The hedge fund Gammon Capital has detected a Gain de 600% so far this year, ranking it among the best in the world, thanks to timely bets on volatility during coronavirus-linked market rents. The New York-based firm correctly bet on the surge in volatility in early March.
Nippon Paint has struck a $ 12 billion deal that will combine it with Singapore’s Wuthelam Holdings to create a regional titan. Masaaki Tanaka, general manager of Nippon, warned the effects of Covid-19 had been harsh, especially for the automotive painting business which was previously expected to generate strong growth in China.
The cost of the East-West Crossrail from London has reaches nearly £ 19 billion, the heavily delayed project is now not expected to fully open until mid-2022, as the pandemic exacerbates engineering issues. The price is expected to rise to £ 18.7bn, more than £ 450m from the last estimate in November.

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