Stocks sink as virus cases jump, forcing states to backtrack. Apple, AT&T, Jack Daniel's: Fed issues details on bond buys. Richmond Fed chief: With outlook hazy, economy needs support.
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The Early Bird Newsletter

Monday, June 29th

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Stocks sink as virus cases jump, forcing states to backtrack
Markets

Stocks sink as virus cases jump, forcing states to backtrack

Stocks closed sharply lower on Wall Street as the number of confirmed new coronavirus cases in the U.S. hit an all-time high, stoking worries that the reopening of businesses investors have been banking on to revive the economy will be derailed

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Apple, AT&T, Jack Daniel's: Fed issues details on bond buys
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Apple, AT&T, Jack Daniel's: Fed issues details on bond buys

The Federal Reserve has released a list of roughly 750 companies, including Apple, Walmart and ExxonMobil, whose corporate bonds it will purchase in the coming months in an effort to keep borrowing costs low and smooth the flow of credit

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Richmond Fed chief: With outlook hazy, economy needs support
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Richmond Fed chief: With outlook hazy, economy needs support

As president of the Federal Reserve Bank of Richmond since 2018, Tom Barkin is a member of the Fed's powerful committee that sets interest rates. The committee has been engaged this year in an extraordinary drive to support the economy and the financial system through ultra-low rates and new lending...

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The Latest: South Korea still coping with new virus clusters
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The Latest: South Korea still coping with new virus clusters

SEOUL, South Korea — South Korea has confirmed 62 additional cases of the coronavirus over a 24-hour period as the Asian country continues to face new clusters of infections amid eased social distancing rules. The additional cases reported Sunday took the country’s total to 12,715, wi...

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Starbucks latest to say it will pause social media ads
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Starbucks latest to say it will pause social media ads

Starbucks is the latest company to say it will pause social media ads after a campaign led by civil rights organizations called for an ad boycott of Facebook, saying it doesn’t do enough to stop racist and violent content

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Fracking pioneer Chesapeake files for bankruptcy protection
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Fracking pioneer Chesapeake files for bankruptcy protection

Chesapeake Energy, a shale drilling pioneer that helped to turn the United States into a global energy powerhouse, has filed for bankruptcy protection. The Oklahoma City-based company said Sunday that it was a necessary decision given its debt. Its debt load is currently nearing $9 b...

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Steven Mnuchin
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Trump administration to give Congress full virus loan data

After prodding from Democratic lawmakers, the Trump administration has agreed to give Congress — but not the public — complete data on the millions of small businesses that received loans from a $600 billion-plus coronavirus aid program

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Facebook to label all rule-breaking posts - even Trump's
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Facebook to label all rule-breaking posts - even Trump's

Facebook said Friday that it will flag all "newsworthy" posts from politicians that break its rules, including those from President Donald Trump. Separately, Facebook's stock dropped more than 8%, erasing roughly $50 billion from its market valuation, after the European company behind...

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Elsie moooves on: Borden dairy sold to private equity firms
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Elsie moooves on: Borden dairy sold to private equity firms

Elsie the cow has a new home. Borden dairy, which filed for bankruptcy protection in January, has been sold to two private equity firms. Dallas-based Borden said Friday it was sold for about $340 million to Capitol Peak Partners and KKR. Colorado-based Capitol Peak will...

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Russian nickel producer admits pollution in Arctic tundra
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Russian nickel producer admits pollution in Arctic tundra

A Russian metallurgical company said Sunday that it improperly pumped wastewater into the Arctic tundra and that it has suspended the responsible employees. The statement from Nornickel is the second time in a month the company has been connected to pollution in the ecologically deli...

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Rolling Stones threaten to sue Trump over using their songs
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Rolling Stones threaten to sue Trump over using their songs

The Rolling Stones are threatening President Donald Trump with legal action for using their songs at his rallies despite cease-and-desist directives. The Stones said in a statement Sunday that their legal team is working with music rights organization BMI to stop use of their material...

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Germany cautions virus risk still high as economies restart
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Germany cautions virus risk still high as economies restart

German Chancellor Angela Merkel cautioned Saturday that the coronavirus pandemic is far from over, as regional outbreaks gave rise to fears of a second wave. Two of the largest U.S. states reversed course and reinstated some coronavirus restrictions amid a surge in new infections. In...

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Nile countries agree to restart talks over disputed dam
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Nile countries agree to restart talks over disputed dam

The leaders of Egypt, Sudan and Ethiopia agreed late Friday to return to talks aimed at reaching an accord over the filling of Ethiopia’s new hydroelectric dam on the Blue Nile, according to statements from the three nations. Early Saturday, Seleshi Bekele, Ethiopia’s water and energy...

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The Early Bird Stock Of The Day

CGI Inc

CGI Inc

CGI Inc., together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company also offers application development, management, testing, portfolio management, and modernization services; business consulting, including agile, business transformation, change management, CIO advisory, cybersecurity, data analytics, digital enterprise, project management, and industry-specific services; and a suite of business process services designed to address the needs of specific industries, as well as IT infrastructure consulting, solutions, and services. It serves clients operating in government, financial services, health, utility, communication, oil and gas, manufacturing, retail and consumer service, transportation, and post and logistics sectors. The company was formerly known as CGI Group Inc. and changed its name to CGI Inc. in January 2019. CGI Inc. was founded in 1976 and is headquartered in Montreal, Canada.

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