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Pizza Hut, Wendy’s Franchisee NPC Intl Expected To File For Bankruptcy

Colorado election results live blog for 2020 primary – The Denver Post

Get live updates and team coverage from The Denver Post as Colorado election results are tabulated. Polls close at 7 p.m.

Mobile users, if you can’t see the live blog, tap here.

Hedge Funds, Banks Picked Up the Phone While Pandemic Raged

Hedge funds’ No. 1 response to the pandemic? Pick up the phone.

Buy-side firms’ most-cited reaction to market uncertainty caused by the coronavirus pandemic was to move toward more phone-based trading, with 31% listing it as their response during the early days of the outbreak, according to a study from Greenwich Associates released Tuesday.

Major banks and broker-dealers also relied more on telephones, with 19% saying they increased such trading and 17% saying they shut off auto-pricing technology as the pandemic roiled markets.

This “speaks to customers working directly with their dealers to both source liquidity and understand market dynamics, given the market uncertainty,” Greenwich Associates said in the report, noting that 42% of the trading volume in U.S. Treasuries in March was done over the phone, compared with just 29% in February.

Banks and hedge funds alike have been investing in their electronic trading capabilities as the industry comes to rely more on algorithms and other technologies. Still, some banks such as Morgan Stanley have said they’ve seen record volume through voice trading in recent months as clients sought more contact with desk traders.

U.S. dollar share of global reserves rises in Q1 -IMF

NEW YORK, June 30 (Reuters) – The U.S. dollar’s share of currency reserves reported to the International Monetary Fund rose to 61.9% in the first quarter, from the previous quarter last year, data released on Tuesday showed.

The dollar’s share in the fourth quarter of 2019 was 60.8% and remains the largest among all currencies. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chris Reese)

Prince Albert Grand Council questions use of force during arrest caught on video

The Prince Albert Police Service (PAPS) says an officer used a proper physical technique during the arrest of an Indigenous man last week.

The Prince Albert Grand Council (PAGC), which represents 12 Indigenous nations in Saskatchewan, says it doesn’t see it that way.

6 new coronavirus cases reported in Saskatchewan, 5 new recoveries

Saskatchewan reported six new coronavirus cases on Tuesday, along with five recoveries.

The new cases raise the overall total in the province to 785.

FedEx Corporation Q4 adjusted earnings Beat Estimates

Below are the earnings highlights for FedEx Corporation (FDX):

-Earnings: -$0.34 billion in Q4 vs. -$1.97 billion in the same period last year.
-EPS: -$1.28 in Q4 vs. -$7.56 in the same period last year.
-Excluding items, FedEx Corporation reported adjusted earnings of $0.66 billion or $2.53 per share for the period.
-Analysts projected $1.52 per share
-Revenue: $17.4 billion in Q4 vs. $17.8 billion in the same period last year.

Saskatchewan government reports $319M deficit in 2019-20 fiscal year

The novel coronavirus pandemic and an economic downturn impacted the provincial government’s progress to return to a balanced budget, according to the Saskatchewan Ministry of Finance.

The government released the final results for the 2019-20 fiscal year on Tuesday.

Saskatchewan moving to final Phase 4 reopening schedule in July

Saskatchewan is rolling out the final part of its Phase 4 reopening plan from the novel coronavirus pandemic on several dates in July.

Indoor pools, indoor rinks, indoor sports and activities and the performing arts — including music, dance and theatre — can reopen on July 6.

Dustin Hoffman To Star In Scott Rudin Broadway Production Of ‘Our Town’ Next Year; Bartlett Sher Will Direct

EXCLUSIVE: Producer Scott Rudin will bring actor Dustin Hoffman to Broadway in a 2021 staging of Our Town, to be directed by Bartlett Sher (To Kill A Mockingbird).

Hoffman will play the role of the Stage Manager in the classic Thornton Wilder play, sources close to the production say.

The production will be Hoffman’s first Broadway role since his Tony Award-nominated performance of Shylock in 1989’s The Merchant of Venice. He played Willy Loman in an acclaimed 1984 revival of Arthur Miller’s Death of a Salesman, and appeared in several productions during the 1960s, including Jimmy Shine, The Subject Was Roses and A Cook for Mr. General.

Sher’s was Tony-nominated for his most recent Broadway production, To Kill A Mockingbird (also produced by Rudin). Among his other many stage credits are 2018’s My Fair Lady, as well as Fiddler on the Roof, The King and I, The Bridges of Madison County, Joe Turner’s Come and Gone and his Tony-winning South Pacific in 2008.

The news come as Broadway is desperate for signs of a post-shutdown resurrection. The Broadway League announced this week that theaters are officially closed until January 2021, and few insiders believe productions will return before Spring 2021 at earliest.

MORE TO COME…

Pizza Hut, Wendy’s Franchisee NPC Intl Expected To File For Bankruptcy

NPC International Inc., one of the largest restaurant franchisees in the U.S., is reportedly planning to file for bankruptcy.

NPC International owns over 1,200 of Yum Brands’ Pizza Hut restaurants and 385 Wendy’s Co. outlets.

The company is expected to file for chapter 11 protection on Tuesday, according to people familiar with the company’s finances.

The company missed interest payments on its nearly $800 million in loans on January 31. NPC, which has $1 billion in debt, started considering about a possible bankruptcy filing with its lenders at that time.

The coronavirus pandemic has forced several restaurant chains to file for bankruptcy, including the parent company to Chuck E. Cheese and the U.S. division of bakery chain Le Pain Quotidien.