American Airlines Inc and Delta Air Lines Inc both said Thursday they will cap air fares on flights from Europe to the United States that are impacted by new travel restrictions as Americans flock to European airports trying to return home.
(Bloomberg) — It had all the trappings of a classic Warren Buffett deal. There were the preferred shares created just for him, the warrants giving him an option to buy more common stock and a hefty dividend — 8%, which came to a cool $800 million a year on the $10 billion he plunked down.On their face, the terms were so favorable for Buffett’s Berkshire Hathaway Inc. — and so onerous for the company, the oil driller Occidental Petroleum Corp. — that fellow billionaire investor Carl Icahn seethed with indignation. It was, he wrote, “like taking candy from a baby.”But …read more […]
To the annoyance of some shareholders, Phillips 66 (NYSE:PSX) shares are down a considerable 39% in the last month… …read more […]
Trading on Wall Street’s three main indexes was halted moments after the opening bell on Thursday as the S&P 500 slipped 7%, setting off an automatic 15-minute cutout, for the second time this week.
A group of investors in GameStop Corp on Thursday asked the video game retailer to appoint a shareholder nominee on its board, after a year-long standstill agreement with the company to not express concerns publicly expired recently.
European airlines bore the brunt of a dramatic expansion of the coronavirus crisis on Thursday, as U.S. travel curbs on much of the continent deepened the sector’s misery and piled more pressure on governments to offer emergency support.
LATAM Airlines Group and Brazil carrier Azul SA said on Thursday they will cut capacity on international flights by up to 30% as demand has collapsed due to the global coronavirus outbreak.
The number of Americans filing for unemployment benefit unexpectedly fell last week, but could rise in the coming weeks as the coronavirus pandemic causes companies to layoff workers amid supply chain disruptions and waning demand for some goods and services.
Coronavirus is probably the 1 concern in investors’ minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […] …read more […]
It’s (almost) official, folks: We have (kind of) a bear market!With the Dow Jones Industrial Average falling as much as 20% below its highest closing price of last month, the venerable index of American blue chips finally dipped into bear market territory on Wednesday, the same day that — not coincidentally — the World Health Organization declared COVID-19 a global “pandemic.”Technically, of course, some might argue that for a real bear market, the Dow needs to move 20% below its last best high, and stay there till the closing bell. The fact that the index recovered slightly to close …read more […]
JPMorgan Chase & Co is planning to ask New York-area employees to work from home to stem the spread of the coronavirus, Bloomberg news reported https://www.bloomberg.com/news/articles/2020-03-12/jpmorgan-tells-new-york-employees-to-work-from-home-due-to-virus on Thursday.
Warren Buffett continues to collect a dividend on his Occidental Petroleum investment — even after the company slashed its payout to common shareholders. …read more […]
The number of Americans filing for unemployment benefit unexpectedly fell last week, but could rise in the coming weeks as the coronavirus pandemic causes companies to layoff workers amid supply chain disruptions and waning demand for some goods and services.
U.S. lawmakers plan to unveil a bill on Thursday that could be used to block Huawei Technologies Ltd from accessing U.S. banks for certain transactions, in a bid to thwart the Chinese telecoms giant amid frustration over the failure of prior sanctions to curb its business.
A group of investors in GameStop Corp has asked the video game retailer to appoint a shareholder nominee on the company’s board.
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