Lucky Strike cigarette maker British American Tobacco is under criminal investigation by U.S. regulators over suspected sanctions-busting, The Times reported https://bit.ly/2ydR5Wm on Tuesday.
The Department of Justice (DoJ) and the Office of Foreign Assets Control, a financial intelligence and enforcement agency that is part of the U.S. Treasury department, are investigating BAT for “suspicions of breach of sanctions”, the newspaper reported, but said it is not clear which country or countries the regulators are focusing on. The DoJ and BAT did not immediately respond to Reuters’ requests for a comment. …read more […]
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
Asian stocks were set for a modest bounce on Tuesday as U.S. stock futures edged higher, although fears the coronavirus could drag on the global economy for months are likely to temper investor confidence.
SoftBank Group Corp shares were untraded with a glut of sell orders on Tuesday morning after estimating the Vision Fund will record a 1.8 trillion yen ($16.73 billion) loss in the year ended March due to faltering bets on unproven startups.
Some large U.S. passenger airlines are close to accepting the terms of a $25 billion offer for government coronavirus payroll aid, with announcements possible as early as Tuesday, people briefed on the matter said.
GrubHub, DoorDash, Postmates and Uber Eats were sued on Monday for allegedly exploiting their dominance in restaurant meal deliveries to impose fees that consumers ultimately bear through higher menu prices, including during the coronavirus pandemic.
GrubHub, DoorDash, Postmates and Uber Eats were sued on Monday for allegedly exploiting their dominance in restaurant meal deliveries to impose fees that consumers ultimately bear through higher menu prices, including during the coronavirus pandemic. In a proposed class action filed in Manhattan federal court, three consumers said the defendants violated U.S. antitrust law by requiring that restaurants charge delivery customers and dine-in customers the same price, while imposing “exorbitant” fees of 10% to 40% of revenue to process delivery orders. The consumers, all from New York, said this sticks restaurants with a “devil’s choice” of charging everyone …read more […]
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd) for May and June in an effort to prop up oil prices as the coronavirus outbreak slashes fuel demand.
The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said.
COVID-19’s disruption won’t impact Amazon’s (AMZN) “leading position in e-commerce and cloud services,” so claims Tigress Financial’s Ivan Feinseth.It is hard to argue. If any company has proven its resilience in the face of the global pandemic, it is the e-commerce giant. Amazon shares are up by 17% year-to-date, compared to the S&P’s 15% drop.Amazon’s product portfolio is so wide and all-encompassing that according to Feinseth, its business performance will only accelerate over the near and long term.Where to start? Never mind the fact COVID-19 has driven consumers to further rely on Amazon’s delivery services, the list of growth drivers …read more […]
Some large U.S. passenger airlines are close to accepting the terms of a $25 billion offer for government coronavirus payroll aid, with announcements possible as early as Tuesday, people briefed on the matter said.
President Donald Trump said on Monday that his administration was close to completing a plan to re-open the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.
Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus among employees and concerns about its spread.
President Donald Trump said on Monday that his administration was close to completing a plan to re-open the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.
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