Business News
Wall Street Week Ahead: Investors prepare for more U.S. stock swings as states reopen
Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise.
Month: May 2020
Business News
Amazon says ‘appropriate’ executive to be available, as U.S. panel calls on Bezos to testify
Amazon.com Inc said on Friday it would make an “appropriate” executive available to the U.S. House of Representatives Judiciary Committee to testify about allegations related to how the company uses third-party sellers’ data.
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Wall Street Weekahead: Investors prepare for more U.S. stock swings as states reopen
Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. The Cboe Volatility Index, known as Wall Street’s fear gauge, posted its biggest weekly gain in about two months, reflecting the S&P 500 index’s 2.6% slide from its April 29 high. VIX futures have jumped as well, with investors pricing elevated risk into June contracts. …read more […]
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California officials reject subsidies for Musk's SpaceX over Tesla spat
The snub comes as Musk has sparred with officials in Alameda County over his plans to resume production at the Tesla plant there, which was stopped because of the coronavirus. Five members of California’s Employment Training Panel voted to reject the proposal and two voted for it, with one member absent, after discussing Musk’s tweets on Tesla’s reopening and media reports of layoffs at SpaceX’s Hawthorne, California headquarters in recent years. …read more […]
Business News
Amazon says ‘appropriate’ executive available after U.S. House panel calls on CEO Bezos to testify
Amazon.com Inc said on Friday it would make the “appropriate” executive available to the U.S. House of Representatives Judiciary Committee to testify about allegations related to how the company uses third-party sellers’ data.
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Amazon says 'appropriate' executive to be available, as U.S. panel calls on Bezos to testify
The panel had called on chief executive Jeff Bezos to testify. Amazon’s blog late on Friday did not commit to a specific person or consideration for who could eventually testify. “We have been working with the Committee in good faith for nearly a year to provide answers and information, and we remain prepared to make the appropriate Amazon executive available to the Committee to address these issues,” Amazon said in the blog post https://blog.aboutamazon.com/policy/response-to-house-judiciary-committee-letter-on-seller-data. …read more […]
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House Passes $3 Trillion Democratic Stimulus With No Path to Law
(Bloomberg) — The House passed a $3 trillion Democratic economic stimulus bill Friday that Republicans and President Donald Trump have already rejected and isn’t likely to trigger bipartisan negotiations any time soon.The measure, passed 208-199, would give cash-strapped states and local governments more than $1 trillion while providing most Americans with a new round of $1,200 checks. House Speaker Nancy Pelosi said it should be the basis of talks with the GOP-controlled Senate and White House, which have called for a “pause” to allow earlier coronavirus recovery spending to work.“A horrible virus has made a vicious attack on the lives …read more […]
Business News
Exclusive: U.S. Justice Dept. subpoenas Wall Street banks for small business loans info – sources
The U.S. Justice Department has sent grand jury subpoenas to big banks seeking records as part of a broader investigation into potential abuse of a $660 billion emergency loan program to help small businesses hurt by the novel coronavirus, two people with knowledge of the matter told Reuters.
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J.C. Penney files for Chapter 11 bankruptcy, plans some permanent store closings
J.C. Penney, reeling from a one-two punch of the department store industry’s struggles and the coronavirus pandemic, filed for Chapter 11 bankruptcy. …read more […]
Business News
J.C. Penney files for bankruptcy protection
J.C. Penney Co Inc filed for bankruptcy protection on Friday, the latest among traditional brick-and-mortar retailers to crumble as prolonged store closures due to the COVID-19 pandemic deliver the final blow to troubled businesses.
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Laying the Foundations for a Stronger Homebuilding Industry
Here is a blueprint for success in the stock market…
Find a company that has very strong long-term prospects and a stock price depressed by temporary near-term challenges.
Buy that stock now. Then, sit back and wait until the temporary issues subside and the stock rises as the much better long-term potential of the business emerges.
It is a very simple blueprint.
The challenge is finding a business where you are convinced that the challenges are truly short-term and the prospects for the long term are truly bright.
But now, I believe the economic and market upheaval COVID-19 has caused have made this challenge a …read more […]
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Business News
U.S. gave no assurances to Taiwan’s TSMC for license to sell to Huawei: official
Taiwan Semiconductor Manufacturing Co Ltd, which unveiled a $12 billion investment plan in Arizona on Friday, has not been given any assurances that it will be granted a license to allow it to sell U.S. technology to China’s Huawei, a senior U.S. official said.
Business News
U.S. state attorneys general likely to bring antitrust lawsuits against Google: source
A group of state attorneys general led by Texas are likely to -file an antitrust lawsuit against Alphabet Inc’s Google and are working on potential litigation for later this year, a person familiar with the situation said on Friday.