Wall Street CMBS loans strain hotel sector in crisis
Orlando hotel owner Danny Gaekwad warns CMBS loans bought by Wall Street investors threaten Finances after COVID lockdowns. May Delinquency climbs as forbearance lags bank relief, with hotels suffering large revenue drops while bondholders resist modification.
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Orlando
Fla
Danny Gaekwad
Ocala
Florida
Horse Country
Wall Street
Gaekwad
U.S
American Hotel and Lodging Association
CMBS
Mike Pence
Trepp, LLC
Sam Chandan
New York University
Chandan
Lisa Pendergast
CRE Finance Council
Pendergast
Hilton Garden Inn
Doug Engle
Macy's to lay off 3900 corporate staffers in cost cut plan
Macy's said it will cut about 3,900 corporate positions, roughly 3 percent of its workforce, to save an estimated 630 million dollars annually. The move follows prior February cuts and store closures as COVID-19 dampened sales.
MENTIONED IN THIS ARTICLE
Macy’s
Wirecard bankruptcy shocks Germany amid oversight critique
Wirecard files for insolvency after an accounting scandal erodes trust in Germanys financial watchdog BaFin and prompts questions about corporate oversight. The 1.9 billion euro vanishing act triggered the arrest of CEO Markus Braun, a share plunge from 150 euros to about 3 euros, and calls for reform while BaFin defends its actions.
MENTIONED IN THIS ARTICLE
Frankfurt
Germany
Wirecard
BaFin
Florian Toncar
Free Democratic Party
Norddeutscher Rundfunk Public Radio
Felix Hufeld
Markus Braun
Leaders eye top eurozone position
Irish Finance Minister Paschal Donohoe Luxembourg’s Pierre Gramegna and Spain’s Nadia Calvino enter the race to lead the Eurogroup as Portugal’s Centeno steps down after a 2.5 year term. Candidates aim to steer the 19-member bloc through a deep recession amid the coronavirus crisis. Calvino would be the first woman in the role. Centeno vows electing a capable president to guide Europe’s recovery and growth. Eurogroup ministers will weigh candidates on July 9.
MENTIONED IN THIS ARTICLE
Brussels
Paschal Donohoe
Luxembourg
Pierre Gramegna
Spain
Nadia Calvino
Europe
Eurogroup
Eurozone
Portugal
Mario Centeno
Calvisio
European Union
European Commission
Donohoe
Gramegna
Centeno
Greece
Bloc
Pedro Sanchez
Pablo Iglesias
Unidas Podemos
United We Can
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Wall St
New York
the Hague
Netherlands
Denmark
Dutch Safety Board
Athens
Finance Ministry
Chuck E. Cheese
CEC Entertainment Inc
Peter Piper
Irving
The
Associated Press
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