Brent Fleischer

American booking full flights next week; Big Lots still busy

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the spread of the virus.

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RETAIL ROUNDUP:

— Big Lots is seeing the continuation of strong demand that started in mid-April, with second quarter-to-date comparable sales through fiscal June increasing well ahead of expectations.

The discount retailer now anticipates second-quarter comparable sales will be up by a mid-to-high twenties percentage. Big Lots said Friday that it is in a very strong liquidity position, with current cash and short-term investments of approximately $890 million, and no amounts drawn on its $700 million revolving credit facility.

— Shopping mall owner Intu Properties is scrambling to avoid bankruptcy after failing to strike a deal with its creditors. The London-based company is being hammered by lower rent payments from retail clients during

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Why the ‘romance’ of plantation estates is more dangerous than confederate statues

<span>Photograph: John Moore/Getty Images</span>
Photograph: John Moore/Getty Images

Like all symbols, monuments to the Confederate south, the lost cause, are not confined to the public square. On the contrary, they are projected onto the silver screen, in our backyards, making up the names of countless suburban developments, shopping centers and schools. In Charleston, South Carolina, in particular, they undergird a billion-dollar tourist industry.

Voted the No 1 city in the US seven times in a row by Travel + Leisure and the best city in the world in 2017, millions come for the beaches, the beauty and charm of Rainbow Row and its old-timey cobblestone streets (built by slaves), and last but certainly not least, for the romance and sweep of its great houses and plantations. The image of Scarlett O’Hara sauntering around Tara in a hoop skirt is imprinted on our collective imagination. Black or white, who hasn’t fantasized about being her? We

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Australia Likely To Keep Borders Closed Until 2021 Due to COVID-19

The country is unlikely to open its borders to international travelers until at least 2021

Don’t expect to fly into Australia anytime soon. According to Trade Minister Simon Birmingham, the country is unlikely to open its borders to international travelers until at least 2021 due to the pandemic. Birmingham also told the National Press Club it is “more likely” Australians will be banned from overseas travel until 2021 as well — unless under special exemptions for limited business travel, the New Zealand Herald reports.

“I hope that we can look eventually at some of those countries who have similar successes in suppressing the spread of COVID to Australia and New Zealand, and in working … with those countries to find safe pathways to deal with essential business travel that helps to contribute to jobs across our economies,” Birmingham said, adding that “in terms of open tourist-related travel in or

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Explaining the market rally in Wall Street’s terms

By April Joyner and Kate Duguid

NEW YORK (Reuters) – Risk assets such as stocks and high-yield corporate bonds have climbed over the past two-and-a-half months despite a dire global economic outlook in the wake of the novel coronavirus pandemic.

The rally has left some market observers scratching their heads but has also given rise to a bundle of jargon – some old, some new – attempting to explain recent trends. Here’s a guide to what’s driving financial markets now, in Wall Street’s own words.

DON’T FIGHT THE FED

One key factor in Wall Street’s climb, strategists say, is the unprecedented monetary support from the Federal Reserve, including purchases of corporate bonds and exchange-traded funds. The Fed’s balance sheet has expanded by some $3 trillion since March. Those actions have revived the slogan “Don’t fight the Fed,” as the liquidity supplied by the U.S. central bank has fueled an upward

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