(Bloomberg) — It took 200 million pounds ($250 million) of Richard Bransons own money to secure the rescue of his Virgin Atlantic Airways Ltd.
The outlay marks the latest example of the industrys enduring capacity to shrink fortunes, although the British billionaire may not be surprised, having once said: If you want to be a millionaire, start with a billion dollars and launch a new airline.
The airline business has long proved irresistible to a cohort of larger-than-life tycoons. From AirAsi…
July jobs report: Here’s what 5 economists are saying – Business Insider – Business Insider
“We’re still far from any sort of healthy labor market right now,” Nick Bunker, an economist at Indeed, told Business Insider.
The July jobs report, released Friday, beat expectations, saying that US employers added 1.8 million jobs during the month and that the unemployment rate decreased to 10.2%. Economists had expected to see 1.5 million jobs added, with unemployment at 10.5%.
While positive, the report also indicated that the labor-market recovery from the coronavirus recession was losing speed. The July figure was much less than the 4.8 million jobs added in June and the 2.7 million added in May.
“It’s great to …
Zillow CEO: Real estate market is beginning ‘great reshuffling’ as people seek more space at home – CNBC
The pandemic so far has accelerated trends of people fleeing large, expensive U.S. cities, While shopping is up everywhere, Barton said the company is seeing a “deceleration of migration” to cities and expects it to accelerate.
The U.S. real estate market is beginning to show signs of a “great reshuffling,” as people relocate to homes with more privacy and space to ease working from home, Zillow CEO Rich Barton said on the company’s Q2 2020 earnings call this week.
“I believe we are at the dawn of a great reshuffling,” Barton said. “I’m sure I don’t need to spell it out for you because we are all living it, spending an average of nine hours more per day at home. Zoom meetings are changing the way families think about…
Bob Greenblatt, Kevin Reilly Out at WarnerMedia in Management Shakeup – Variety
In a massive executive shakeup at WarnerMedia, both Bob Greenblatt and Kevin Reilly are exiting the company. More to come…
In a massive executive shakeup at WarnerMedia, both Bob Greenblatt and Kevin Reilly are exiting the company. Keith Cocozza, executive vice president of corporate marketing and communications, is also stepping down.
WarnerMedia CEO Jason Kilar made the announcement in a memo to staff on Friday. In addition, Ann Sarnoff has been promoted to oversee a newly expanded content group, with Casey Bloys now reporting to Sarnoff.
Bloys was previously the president of HBO Programming, but will now overse…
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