Retailers, restaurants and hotels — on the front lines of the coronavirus pandemic — got a combined 18% of the $342 billion allocated as of Thursday under the a new federal government program to help small firms keep paying their employees during widespread shutdown, data from the agency running the program showed on Friday.
A British court awarded $11 million in damages and expenses on Friday to a former partner at global accounting firm Ernst & Young who exposed money laundering at a major gold refinery in the United Arab Emirates.
Walmart Inc said on Friday it would hire 50,000 more workers at its stores, clubs and distribution centers to meet a surge in demand for groceries and household essentials from consumers stockpiling during the coronavirus outbreak.
Warren Buffett’s Berkshire Hathaway Inc will close some smaller businesses and is positioning itself conservatively as it rides out the coronavirus pandemic, Berkshire Vice Chairman Charlie Munger said in an article published on Friday.
“We’re like the captain of a ship when the worst typhoon that’s ever happened comes,” the 96-year-old Munger said in an interview with The Wall Street Journal. “Warren wants to keep Berkshire safe for people who have 90% of their net worth invested in it,” Munger added. Berkshire did not immediately respond to a request for comment to Buffett’s assistant. …read more […]
Oil prices were mixed on Friday, with weak Chinese economic figures and rapidly filling U.S. crude storage offsetting bullishness built on U.S. President Donald Trump’s outlines for the U.S. economy to emerge from the coronavirus shutdown.
The Chinese-backed owners of Imagination Technologies told the British government on Friday the chip designer would remain headquartered in the United Kingdom and they would consult over any board changes.
Alphabet Inc’s Google would waive off the fee it collects from news publishers using its ad services for the next five months, the search giant said on Friday.
Innovative Industrial Properties, Inc. (NYSE:IIPR) shareholders might be concerned after seeing the share price drop… …read more […]
Wall Street bounced on Friday, boosted by a surge in Boeing shares, with President Donald Trump’s plan to reopen the economy and hopes of a potential drug by Gilead to treat COVID-19 helping sentiment.
Former Carige CEO Guido Bastianini is the frontrunner to become the new head of lender Monte dei Paschi di Siena as the nomination process at key state-controlled companies comes to an end, two government sources told Reuters on Friday.
As the U.S. quarterly earnings season picks up steam next week, investors will get an early glimpse of how companies are weathering the coronavirus outbreak, including the strength of their balance sheets.
Norwegian Air , which is seeking creditor support for its rescue plan, has told bondholders it will overhaul its strategy in the wake of the coronavirus pandemic, according to an investor who took part in a briefing by the airline on Friday.
A handful of mega-cap tech stocks are behind the stock market’s recent rally. …read more […]
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