Business News
Boeing restarting commercial airplane production next week
Boeing Co said it will resume commercial airplane production next week in Washington State after suspending operations last month in response to the COVID-19 pandemic.
Month: April 2020
Trading Ideas
Boeing restarting commercial airplane production next week
“Our industry will need the government’s support, which will be critical to ensuring access to credit markets and likely take the form of loans versus outright grants,” Boeing chief executive Dave Calhoun told employees in a letter seen by Reuters. About 27,000 Boeing workers in the Puget Sound area will return to production of the 747, 767, 777 and 787 jet programs. In January, Boeing halted production of the 737 MAX after two fatal crashes in five months. …read more […]
Business News
World stocks gain on stay-at-home profits, bond yields slide
World stock markets edged higher on Thursday on surging shares of Netflix and Amazon.com as investors anticipated big earnings from the coronavirus-induced slowdowns keeping people at home, while bond yields fell as data reflected record U.S. joblessness.
Business News
Fed’s Bostic: U.S. small business may need up to $500 billion monthly in support through crisis
U.S. small businesses may need up to $500 billion a month to ensure their survival through the coronavirus crisis, the head of the Atlanta Federal Reserve Bank said on Thursday as Fed officials voiced concern over the speed and breadth of the country’s fiscal response to an unprecedented economic slowdown.
Trading Ideas
Apple CEO Talks Covid-19 Crisis, Return to Work Plan at Company-Wide Meeting
(Bloomberg) — Apple Inc. Chief Executive Officer Tim Cook led a companywide virtual meeting on Thursday to address concerns about the impact of Covid-19 and discuss the iPhone maker’s plan to return to work.During the meeting, Cook called the pandemic an “uncertain and stressful moment,” but expressed confidence that the company will emerge strongly from the crisis, as it did after the 2008 recession and following a near-bankruptcy in the late 1990s.He said Apple entered the coronavirus pandemic with a strong balance sheet and stressed that the company will keep investing in a “really significant way” in research and development …read more […]
Business News
Coronavirus set to usher in big changes at U.S. offices
The novel coronavirus may do to U.S. office rentals what e-commerce did to malls, or so goes a line of thinking running through commercial real estate circles.
Business News
Facebook to notify users who have engaged with harmful COVID-19 posts
Facebook Inc said on Thursday it would start notifying users who had engaged with false posts about COVID-19 which could cause physical harm, such as drinking bleach to cure the virus, and connect them to accurate information.
Business News
Wall Street rises as Amazon and Netflix hit record highs
U.S. stocks rose on Thursday as Amazon.com Inc and Netflix Inc surged to record highs, although trading was choppy as investors worried about the impact of the coronavirus pandemic on first-quarter earnings.
Business News
Neiman Marcus skips debt payment as potential bankruptcy looms
Neiman Marcus Group skipped a debt payment due this week, the latest sign of a cash crunch pushing the U.S. luxury department store chain to the brink of a possible bankruptcy after it temporarily closed stores amid the coronavirus pandemic.
Business News
Oil little changed, U.S. ties 18-year low after OPEC cuts demand forecast
Oil prices were mixed on Thursday, as Brent crude rose modestly while U.S. futures ended unchanged at an 18-year-low after some European countries said they would relax coronavirus restrictions even though OPEC lowered its global oil demand forecast.
Business News
Lagardere may get help from allies in fight with Amber Capital
Lagardere gained almost 13% on Thursday after Les Echos reported the French multimedia conglomerate could get help from French tycoon Vincent Bollore and Marc Ladreit de Lacharrière, who heads finance group Fimalac, in its fight with Amber Capital.
Business News
World stocks seesaw, yields fall on dire economic outlook
World stock markets seesawed while bond yields retreated on Thursday as dire U.S. jobless data underscored a deepening downturn amid the coronavirus outbreak and tamped down investor hopes a listless economy would soon be back on its feet.
Business News
Nasdaq gains, but earnings, coronavirus worries weigh on market
The Nasdaq rose in afternoon trading on Thursday as Amazon.com and Netflix surged to record highs, while worries about first-quarter earnings weighed on the Dow and limited gains in the S&P 500.
Business News
Coronavirus hurts corporate activism now, but rebound expected
Activist shareholders are likely to scale back campaigns in the coming weeks as target companies brace for a deep recession and their favorite calls for change – ranging from mergers to returning cash – are ignored during the coronavirus pandemic.
Trading Ideas
Broadcom Says Chip Orders Require Six Months’ Lead Time
(Bloomberg) — Broadcom Inc., a chipmaker that supplies crucial components for Apple Inc.’s iPhone, told customers that disruptions to the global supply chain caused by the Covid-19 pandemic means they’ll need to place orders for parts six months ahead of time.Lockdowns in Malaysia, Thailand, Singapore and the Philippines are “closing or severely restricting business operations,” according to a letter to customers from Nilesh Mistry, Broadcom’s vice president of sales, dated April 13 and seen by Bloomberg. “Air and sea transport options have become unreliable and become more expensive and have increased delays,” Mistry wrote. The San Jose, California-based company declined …read more […]