AVIATION
Bain Capital one of two possible buyers for Virgin Australia
Bain Capital and Cyrus Capital Partners emerged as the final suitors for Virgin Australia as administrators race to sell the airline before it runs out of cash. Deloitte, which is overseeing the sale, said Tuesday it whittled down possible buyers for the collapsed carrier to Bain and Cyrus following five second-round bids last week. Final offers are due by June 12, and Deloitte said it still plans to strike a deal by 30 June.
— BLOOMBERG NEWS
COLLECTING
First US gold coin on the market — for $15 million
One of the world’s most coveted coins is coming to the market. The Brasher Doubloon, the first gold coin struck in the United States, is being offered privately at a $15 million asking price, according to numismatic adviser Jeff Sherid. His firm, Los Angeles-based PCAG, is marketing the coin on behalf of a collector he would only identify as a former Wall Street executive. The doubloon is dated 1787 — 11 years after the Declaration of Independence was signed, the same year the Constitution was written, and five years before the federal mint opened in Philadelphia. Metalsmith Ephraim Brasher, George Washington’s next-door neighbor on New York’s Cherry Street, privately minted a small batch of the coins and punched this unique version with his hallmark ‘‘EB’’ on the eagle’s breast. The soon-to-be president almost certainly handled it, according to longtime numismatist John Albanese, founder of Certified Acceptance, a coin-grade verification service. — BLOOMBERG NEWS
STREAMING
Tops shows on HBO Max feature Bugs Bunny, not Tony Soprano
The HBO network earned a reputation for adult dramas filled with sex and violence, including “The Sopranos,” “Game of Thrones,” and “Sex and the City.” But when its new streaming offshoot launched last week, the buzziest shows were aimed at children. “Looney Tunes Cartoons,” a new take on classic characters Bugs Bunny and Daffy Duck, was the most in-demand show when AT&T Inc.’s new HBO Max service debuted on May 27, according to Parrot Analytics, a firm that gauges how popular TV shows are based on social media, fan ratings, and piracy. “The Not Too Late Show with Elmo,” a talk show hosted by the “Sesame Street” character Elmo, was second. — BLOOMBERG NEWS
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EXERCISE
Peloton continues to soar as gym goers reluctant to return
Peloton Interactive climbed to near all-time highs after Evercore ISI analysts said that gym goers are unlikely to return to in-person fitness routines once economies begin to open. Shares of the interactive exercise company have rallied 71 percent this year and are up 170 percent from their March lows as nationwide stay-at-home orders forced people to alter their workout routines. In May, the company reported third-quarter revenue jumped 66percent and raised its outlook for full-year sales and connected-fitness subscribers. Early digital data from states including Texas, Georgia, Florida, and Ohio that have begun to reopen gyms suggests people remain reluctant to return, even when they are allowed to, according to analysts led by Lee Horowitz. — BLOOMBERG NEWS
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SOCIAL MEDIA
Twitter suspends hundreds of accounts linked to false claim about protests
Twitter Inc. suspended hundreds of accounts associated with spreading a false claim about a communications failure during protests in Washington. The action was part of an active investigation into the #dcblackout hashtag, according to a Twitter representative on Monday, who cited the company’s policy prohibiting spam and platform manipulation. It is the latest example of Twitter cracking down on content violations since protests started last week after the death of George Floyd, a Black man, while in police custody. The accounts affected by this crackdown have ranged from the spam-like accounts removed Monday to President Trump’s. On May 31, Trump retweeted an account that included the hashtag #QAnon in its bio, a reference to a group that believes a conspiratorial “deep state” is trying to undermine the president and his supporters. The president reposted a tweet from the account that promoted the group’s motto and included a video of a Trump campaign speech. Twitter suspended the account immediately afterward, saying that its owner had previously been suspended and shouldn’t have created a new account. Twitter has followed the president’s account closely since it first applied labels to tweets of his that violated the company’s misinformation policy on May 26. Three days later, Twitter slapped a rule-violation notice on another tweet by Trump warning protesters in Minnesota that “when the looting starts, the shooting starts.” — BLOOMBERG NEWS
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LUXURY
Pandemic and protests could put Tiffany sale in doubt
Tiffany & Co. plunged after Women’s Wear Daily reported LVMH’s deal to buy the luxury jewelry company is uncertain as the US economy faces widespread upheaval. LVMH board members arranged to meet on Tuesday to discuss the proposed deal, WWD reported, citing unidentified individuals. Board members are concerned about the COVID-19 pandemic that has disrupted the US economy and growing unrest over police violence, WWD said. They also expressed concern about Tiffany’s ability to cover its debt covenants at the end of the transaction. Tiffany’s representatives didn’t immediately respond to a request for comment from Bloomberg. LVMH declined to comment. — BLOOMBERG NEWS
GAMES
Chess and backgammon make a comeback
Jigsaw puzzles have received the lion’s share of the attention, but they aren’t the only old-school game that’s experienced a renaissance during the pandemic self-isolation period. Board games such as chess and backgammon have jumped in popularity. Even as lockdowns lift, fans are investing for the long-term, surfing the Web to splash out on pricey vintage sets, rather than plastic stopgaps. — BLOOMBERG NEWS
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INTERNET
Justice Department invokes law Trump threatens to revoke
In a censorship case filed against YouTube by LGBTQ content creators, the US Justice Department is defending the law that protects Internet companies from lawsuits — the same statute President Trump has threatened to revoke. Trump targeted the 1996 law in an executive order last week as he escalated a fight with Twitter after it tagged two of his tweets as potentially misleading. But three weeks earlier, the Justice Department weighed into the YouTube case and urged a federal judge not to declare the law unconstitutional after the content creators said it allows the Google video-sharing site to violate their free-speech rights. — BLOOMBERG NEWS
OFFICE SPACE
Troubled WeWork taking smaller share of new London development
WeWork is in talks to slash the amount of office space it had agreed to occupy in a major development in London’s Shoreditch district. The embattled flexible-office provider and developer Cain Hoy Enterprises are considering canceling a 2017 agreement that would have seen WeWork lease two office buildings at the soon-to-be-completed Stage development, people with knowledge of the negotiations said. Instead WeWork could occupy just the smaller of the two offices, said the people, asking not to be identified because the details aren’t public. — BLOOMBERG NEWS
