The previously unreported tale of Carnival’s rescue shows how effective the Fed has been in turning the debt spigot back on for large corporations
It was mid-March and the vultures were circling Carnival Corp., the largest cruise-line operator in the world.
The company, forced to virtually shut down by the coronavirus outbreak, needed billions of dollars fast. With financial markets frozen, executives were forced to consider a high-interest loan from a band of hedge funds who called themselves “the consortium.” The group included Apollo Management Group, Elliott Management Corp. and other distressed-debt investors that sometimes take over the companies they lend to,...
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | White House in Talks to Replace Health and Human Services Secretary Alex AzarAdministration officials are discussing replacing Health and Human Services Secretary Alex Azar following criticism of his management of the early response to the coronavirus pandemic.
Read more »
WSJ News Exclusive | Apple Delays Mass Production of 2020 Flagship iPhonesApple is pushing back the production ramp-up of its flagship iPhones coming later this year by about a month, as the coronavirus pandemic weakens global consumer demand and disrupts manufacturing across Asia.
Read more »
News O'Clock: Don't Put Bleach Into Your Body, Seriously NeverSelf-care in a pandemic is all about doing your best, catch these movies before Netflix takes them away and Tom Hanks continues to be an actual angel of light.
Read more »
Here's All the Culture News You Missed This WeekBeyoncé's BeyGOOD foundation made a big charitable donation, Ashton Kutcher and Mila Kunis launched Quarantine Wine, and other news you may have missed.
Read more »