Coronavirus Update: Ford's Reported Job Cuts, Kodak's Newest Stakeholder

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Good morning, it’s Tuesday, Sept. 1. I’m Katherine Ross and here’s your daily coronavirus update.

According to Johns Hopkins, There are over 25.5 million cases of the virus worldwide, with over 851,000 deaths.

The U.S. has surpassed 6 million cases with over 183,000 deaths.

Per the COVID-19 Tracking Project, there were 31,406 new cases reported Monday, which is slightly up from the 39,452 reported on Sunday. 680,405 new tests were reported. And 358 deaths were reported yesterday, which is down from the 475 deaths reported on Aug. 30 per the data collected by the Tracking Project.

Ford's Reported Job Cuts

Ford is reportedly preparing to cut 1,000 jobs in North America according to Bloomberg.

The job cuts come as part of an $11 billion global restructuring that began two years ago.

Ford is aiming to improve its efficiency, and according to Bloomberg, is not due to the rising costs coming from the coronavirus pandemic.

And Then There's Kodak  

And hedge fund D.E. Shaw has purchased a 5.2% stake in Kodak.

In a filing with the Securities and Exchange Commission, Kodak said D.E. Shaw has bought 3.94 million shares of its stock.

Kodak, back in July, made headlines when the U.S. government put the company in line to receive a $765 million loan to boost production of a variety of pharmaceuticals.

But the loan was frozen amid allegations of wrongdoing and a reported investigation by the SEC.

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

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