Why people are buying bankrupt stocks like Hertz, and everything else you missed in business news: C
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC's Dominic Chu breaks down why traders have bought so much stock in bankrupt companies like Hertz and J.C. Penney, and how it can quickly become a losing game. Also, CNBC's Elizabeth Schulze explains how empty sports stadiums pose an imminent threat to city and county budgets, and why the whole situation could lead to higher local taxes for those residents.
Car sales are going through the roof during the pandemic, as people stuck inside search for access to greener pastures. Tom Maoli owns a Lexus dealership in New Jersey, and says that he can't keep up with the demand. "They want a car now. They do not want to wait," he said. One reason for the explosion in car sales is that people want to avoid public transportation, where many feel exposed to the virus. Additionally, more people are moving out of crowded cities and house hunting in the suburbs. TV personality and former ‘Bachelorette' Rachel Lindsay says season two of MTV's "Ghosted" easily continued because "people are desperate. They want answers." (Sept. 9) As historically devastating fires ravage the west coast, nearly 1 million acres of land in Oregon has been burnt. Authorities have ordered 10% of the state's residents to evacuate their homes. Some people are taking measures into their own hands by purchasing their own fire trucks. But without proper training, is it a good idea to own and operate a fire truck? Fire Deputy Chief Nick Schuler says owning a used fire truck could do more harm than good. Alarming statistics about the high number of people who have died in recent months in England and Wales are more than just data points for the families involved.
Sky News' Ed Conway has been examining the UK's excess deaths figures, that's deaths from all-causes that are above average, since the coronavirus pandemic began.
He spoke to a family dealing with the death of a parent due to cancer.