Economist Joseph Stiglitz: Recession Will Hurt Low-Income People More Than The Wealthy

Elroy Mariano

Senate Majority Leader Mitch McConnell said Friday that a coronavirus relief bill is
not likely to pass before the election.

Negotiations have stalled as President Trump has repeatedly changed his mind about whether he wants Congress to pass a new stimulus package. Meanwhile, new unemployment claims remain relatively steady with more than
800,000 people filing their paperwork each week.

A former chairman of the Council of Economic Advisers

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JCPenney Eyes $1.75 Billion Purchase By Brookfield And Simon Property

Elroy Mariano

J.C. Penney Company has entered an agreement in principle to sell JCPenney to Brookfield Property Partners and Simon Property Group for $1.75 billion. JCPenney intends to execute a stalking horse asset purchase agreement and auction that will conclude before the 2020 holiday season.

The agreement would involve the formation of a separate real
estate investment trust and a property holding company, which will include 161
of JCPenney’s real estate

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