Mall owner CBL warns about its ability to continue as a ‘going concern’

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CoolSprings Galleria Mall, Franklin, TN

Source: CBL Properties

Mall owner CBL & Associates said Friday that its ability to continue as a going concern is in doubt after the retailers in its properties skipped rent payments during the Covid-19 crisis, forcing CBL to miss its own interest payment. 

The Chattanooga, Tennessee-based real estate company, which owns 108 properties primarily in the Southeast, had said earlier in the week that it did not pay an $11.8 million interest payment due June 1. It said Friday that it has violated a covenant in its senior secured credit facility. This means its lenders

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Walmart CEO Doug McMillon said CEOs must advance racial equality

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Walmart Chief Executive Doug McMillon said the country’s top CEOs will look for ways to address racial inequities that span society, from how the world of finance works to how police treat black Americans.

In an interview on CNBC’s “Squawk Box,” McMillon said the death of George Floyd, an unarmed black man pinned down by a Minneapolis police officer who kneeled on top of him, has prompted new urgency to do more than just donate money. McMillon, who is chairman of the Business Roundtable, announced the group of business leaders will form a special committee to advance racial equality and

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Blowout jobs report shows ‘big hedge fund guys’ got it wrong and the market was right, says Cramer

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Jim Cramer

Scott Mlyn | CNBC

Following a “superb” jobs report, Jim Cramer noted that hedge funds managers who made big bearish predictions about what the pandemic would do to the market and economy were wrong.

And the relentless higher price action that many doubted was right.

“The market got it right,” CNBC’s Cramer said on “Squawk on the Street” on Friday. “The big hedge fund guys who told us that this was going to be the highest and worst and most dangerous since 1999, well they made an ill-advised prediction.” 

Stocks are soaring on Friday on news the U.S.

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Argo takes cease-and-desist order | Insurance Business

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“Without admitting or denying the SEC’s findings, Argo consented to the SEC’s cease-and-desist order, which requires Argo to pay a US$900,000 (around SG$1.25 million) civil penalty.”

This was the revelation made by the US Securities and Exchange Commission when it announced settled charges against Argo Group International Holdings, Ltd., the insurance group headquartered in British overseas territory Bermuda which continues to be haunted by its leadership past.  

“The SEC’s order finds that in its proxy statements for 2014 through 2018, Argo disclosed that it had provided a total of approximately US$1.2 million (around SG$1.67 million) in perquisites and personal benefits,

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