Republican U.S. senators who have introduced a bill that would remove U.S. defense systems and troops in Saudi Arabia unless it cuts oil output will hold a call with the kingdom’s officials on Saturday, a source familiar with the planning said on Tuesday.
Republican U.S. senators who have introduced a bill that would remove U.S. defense systems and troops in Saudi Arabia unless it cuts oil output will hold a call with the kingdom’s officials on Saturday, a source familiar with the planning said on Tuesday. Senators Kevin Cramer and Dan Sullivan will hold a call with the officials two days after a scheduled OPEC+ meeting in which Saudi Arabia and Russia are expected to agree an output cut. The two countries have been pumping oil flat out beginning last month in a race for market share. …read more […]
Bear markets are usually bad news for growth stocks. As sentiment in the market changes, these hotshots often tend to crash harder. Roku (ROKU) is a good case in point. Following a massive run up in 2019, the stock shed 34% of its share price year-to-date. In mid-March, the stock was down as much as 55%, so if you sold there, you sold at the bottom.The severe drop is a tad surprising, as during these stay-at-home times, Roku should be one of the few names to reap the rewards of extra engagement on its platform. However, most companies have suffered …read more […]
(Bloomberg) — Morgan Stanley, Credit Suisse Group AG and Haitong International Securities Group were among the biggest participants in a series of margin loans to Luckin Coffee Inc.’s founder before accounting fraud allegations at the high-flying Chinese company triggered a collapse in the stock and caused him to default, a person with knowledge of the matter said.The banks were part of a group that extended margin debt to Luckin Chairman Lu Zhengyao across three funding rounds, said the person, who asked not to be identified as the matter is private. Haitong put up $140 million, while Morgan Stanley and Credit …read more […]
Airbnb Inc’s new $1 billion investment from private equity firms Silver Lake and Sixth Street Partners has terms that imply a reduced valuation of the home rental company, people familiar with the matter said on Tuesday.
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 […]
U.S. casino operator Wynn Resorts Ltd and automated teller machines maker NCR Corp jointly raised $1 billion on Tuesday, in the first unsecured junk-rated bond offerings since the market was roiled by the coronavirus outbreak at the start of March.
Asian stock futures were under pressure on Wednesday after a late, sharp sell-off on Wall Street and as oil prices slumped under pressure from swelling global supplies.
Levi Strauss & Co said on Tuesday a majority of its stores in China, where the coronavirus outbreak first emerged in December, were open with sales recovering on a weekly basis and digital sales rising last month.
Boeing Co said late on Tuesday it will make two new software updates to the 737 MAX’s flight control computer as it works to win regulatory approval to resume flights after the jet was grounded following two fatal crashes in five months.
Boeing Co said late on Tuesday it will make two new software updates to the 737 MAX’s flight control computer as it works to win regulatory approval to resume flights after the jet was grounded following two fatal crashes in five months. The planemaker confirmed to Reuters that one issue involves hypothetical faults in the flight control computer microprocessor, which could potentially lead to a loss of control known as a runaway stabilizer, while the other issue could potentially lead to disengagement of the autopilot feature during final approach. Boeing said the software updates will address both …read more […]
Talks between U.S. airlines and the Treasury Department over how to award $25 billion in cash grants earmarked for payroll assistance due to the coronavirus outbreak were set to continue into the evening Tuesday, people briefed on the matter said.
Amazon.com Inc will suspend a delivery service that aims to compete with UPS and FedEx in the United States.
KKR & Co Inc has established a $50 million global relief fund to help people affected by the new coronavirus, according to a letter the U.S. private equity firm sent to its investors on Tuesday.
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