Talking Biz News Today — July 31, 2020

Some of Friday’s top business news stories:

Associated Press

Record economic plunge, bleak jobs numbers reveal virus toll, by Martin Crutsinger, Paul Wiseman

Amid the pandemic, Big Tech reports mixed earnings, by Michael Liedtke, Matt O’Brien, Joseph Pisani, Tali Arbel

CNN

Amazon trounces earnings estimates despite spending $4 billion on coronavirus measures, Clare Duffy

Lamborghini’s new supercar isn’t legal to drive on public roads, by Peter Valdes-Dapena

The Wall Street Journal

Auto Giants Swing to Loss During Coronavirus-Driven Downturn, by Mike Colias, Ruth Bender

Gilead Raises 2020 Profit Outlook on Remdesivir Demand, by Joseph Walker, Maria Armental

CNBC

Tax hike on California millionaires would create 54% tax rate, by Robert Frank

Coastal flooding could hit nearly 20% of global GDP as climate change accelerates storms, sea level rise, by Emma Newburger

Reuters

Taking on SpaceX, Amazon to invest $10 billion in satellite broadband plan, by David Shepardson, Joey Roulette

Buffett’s Berkshire boosts its stake in Bank of America to 11.8%, by Jonathan Stempel

News about business journalism

Reuters voluntary work from home extended to January 2021

Biz journalist Madowo joins BBC World as U.S. correspondent

Homans, editor of Vanity Fair’s The Hive, has died

NationalReview launches business and finance section

Ex-BuzzFeed political correspondent Ashton to join Bloomberg