Mitsubishi UFJ Financial Group (MUFG) sold off its $85 million loan to Glencore’s Wiggins Island Coal Export Terminal (WICET) in Australia to a hedge fund on Wednesday at about 52 cents on the dollar, two sources said.
As Wall Street extended its deep sell-off on Wednesday over fears about the coronavirus, the Dow Jones Industrial Average effectively erased the last of the once sizeable gains it made under U.S. President Donald Trump.
JPMorgan Chase and Co will temporarily shut about 1,000 bank branches, roughly 20%, to protect employees and reduce the spread of the coronavirus, according to a memo the bank sent to employees Wednesday.
Intercontinental Exchange Inc said the New York Stock Exchange (NYSE) will temporarily close the trading floors and move fully to electronic trading beginning Monday due to the coronavirus outbreak.
As Wall Street extended its deep sell-off on Wednesday over fears about the coronavirus, the Dow Jones Industrial Average erased the last of the once sizeable gains it made under U.S. President Donald Trump.
U.S. stocks deepened their selloff on Wednesday and the Dow effectively erased the last of its gains since U.S. President Donald Trump’s 2017 inauguration, as repercussions of the coronavirus pandemic threatened to cripple economic activity.
(Bloomberg) — Hedge fund manager Bill Ackman is buying shares of private equity heavyweight Blackstone Group Inc., according to a person familiar with the matter, as the growing coronavirus pandemic roils markets.Blackstone slumped 1.6% on Wednesday and has declined 34% over the past month. Competitors including Brookfield Asset Management Inc. and Apollo Global Management Inc. have recorded similar declines.Ackman said in a CNBC interview earlier in the day that he’s aggressively buying stocks, including Hilton Worldwide Holdings Inc., which his hedge fund Pershing Square Capital Management owns. He also said he expects private equity firms will go bankrupt if the …read more […]
More and more every day, I’m reminded of this Warren Buffett quote: “You know, people talk about this being an uncertain time.”
It certainly describes the environment that COVID-19 has created: fear of the unknown. It’s hard to know when this will all blow over and things will return to normal.
Here’s what we do know. The bulk of the people who are infected with COVID-19 will recover, just as if they had the flu.
And for some more good news, the pandemic could give renewable energy projects a big boost on several fronts.
On Lockdown
As COVID-19 spreads around the world, the initial response …read more […]
Shares in U.S. airlines fell sharply on Wednesday after Washington proposed a rescue package of $50 billion in loans, but no grants as the industry had requested, to help address the financial impact from the deepening coronavirus crisis.
In an internal letter to employees, Expedia Group Vice Chairman Peter Kern told staff to set aside any projects that don’t contribute to meeting the company’s immediate needs and exhorted employees to help travel partners find business anywhere they can. “If you’re wondering how we might help our travel partners survive all this, well, our […] …read more […]
The selloff in U.S. stocks deepened on Wednesday and the Dow was set to erase the last of its gains since U.S. President Donald Trump’s 2017 inauguration, as the coronavirus pandemic threatened to bring U.S. economic activity to a halt.
The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, industry officials said.
General Motors Co and Mercedes Benz will furlough all employees in Brazil later this month, the companies said on Wednesday, suggesting that production in South America’s main auto center will be heavily impacted by the coronavirus outbreak.
Borrowing costs in the United States, euro zone, Britain and Japan surged on Wednesday after two days in which governments across the globe announced trillions of dollars of spending to support locked-down economies frozen by the coronavirus.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
