money News On The Move: Hurricane Isaias issued to hit North Carolina, 7-Eleven owner to buy Marathon stations for $21B
Yahoo Finance’s Adam Shapiro and Julie Hyman highlight Monday’s trending headlines.
Video Transcript
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ADAM SHAPIRO: Welcome back to Yahoo Finance "On The Move." News on the move, tropical storm Isaiah-- Isaias is expected to strengthen into a category 1 hurricane by the time it hits the East Coast later today or tonight. Landfall predicted somewhere along the coast of South and North Carolina. Forecasters say the storm will weaken as it moves north up the Eastern seaboard, hitting New York Tuesday evening and New England Wednesday.
JULIE HYMAN: There is a $21 billion gas station deal. The owner of 7-Eleven, which is Japan's Seven & I Holdings, is buying Speedway, with nearly 4,000 locations, from Marathon Petroleum. Separately, Marathon did report a smaller lost than analysts estimated last quarter, but revenue fell by more than half, which was a bigger drop than forecast.
ADAM SHAPIRO: The owners and captain of a large riverboat called the Liberty Bell were arrested yesterday in New York City for breaking the law when they allowed 170 guests on board. Now, the party cruise boat violated emergency pandemic orders to social distance. A local sheriff says the boat's owner also violated several state liquor licensing laws. Just last week, New York Governor Andrew Cuomo slammed organizers and participants of a charity rock concert in the Hamptons after they failed to socially distance themselves from one another.
