(MENAFN- ProactiveInvestors)With US markets closed yesterday there was not a lot of business news about but that did not stop another oil company biting the dust. The New York Times (NYT) reports that Paragon Offshore (OTCMKTS:PGNPF) which operates offshore drilling rigs from the Gulf of Mexico to the North Sea filed for protection from its creditors on Sunday evening. Over the last 16 months about 60 oil and gas companies have filed for bankruptcy as commodity prices slide and that figure is expected to double in the coming months if prices remain low the NYT speculated. At the seat of government The Washington Post focuses on the battle over the successor to Justice Antonin Scalia who died over the weekend. Democrats reckons it is president Obama's right to nominate a replacement while Republicans not surprisingly are in favor of handing the pick to the next president whoever that might be. White House deputy press secretary invoked the name of Republican icon Ronald Reagan to back-up Obama's case. Reagan pressed for a vote on his Supreme Court nominee Anthony Kennedy who was confirmed in 1988 the final year of Reagan's presidential term. 'Every day that passes with a Supreme Court below full strength impairs the people's business in that crucially important body' Schultz claimed. National daily USA Today notes that today is the day when US airlines can apply to start services to Cuba. The airlines have 15 days to submit proposals for up to 100 daily flights to Cuba. The flights won't start until the fall but when (if) they do they will be the first scheduled daily flights – officially at least – since the revolution in Cuba in 1959 that played a big part in the enduring fear of communism in the USA. The Wall Street Journal's US edition was understandably light on US business news and like many others it covered the Grammys awards ceremony. On the macro level it reported on its web site that Saudi Arabia Russia Qatar and Venezuela have announced they wouldn't increase crude-oil output above January's levels as long as other major oil producers followed suit. All a bit late in the day for Paragon Offshore or course. Did someone mention the Grammys The Los Angeles Times has it covered with what it calls full coverage of the music industry's back-slapping event. Full Some might say overly so. There's no business like show business apparently but the LA Times has managed to find some more conventional business news to write about doing a feature on food delivery firms of which there are significantly more since the smartphone revolution made it even easier to make like a couch potato. 'You can have spicy clam and chorizo pasta delivered by Munchery one day a Godmother sandwich from Bay Cities dropped off curbside by UberEats on another or come home to a box of ingredients for chicken schnitzel from Blue Apron if you're in the mood to cook' the paper reports. In the mood to cook Surely cooking is now largely a spectator sport On-demand food tech start-ups raised a record $5.7 billion globally last year an increase of 152% from 2014 according to CB Insights. The LA Times reckons that the field has become overcrowded with many 'me too' operators competing for the same customers. Companies are apparently finding it hard to retain delivery drivers so they would probably be interested in another article in the LA Times that postulates self-driving robots may someday make local deliveries in half an hour or less.
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