Asian shares were set to rise on Tuesday after data from an early-stage trial for a coronavirus vaccine lifted hopes for a near-term economic recovery, sending global equity markets and oil prices surging.
The spotlight Tuesday will be on earnings from retail heavyweights Walmart, Home Depot and Kohl’s and Federal Reserve Chairman Jerome Powell’s testimony on Capitol Hill. …read more […]
Zarchi Lwin pawned her only two gold bangles for $140 when the owner of the Myanmar factory where she sewed winter coats for British retailer Next Plc shut it down after orders dried up due to the coronavirus.
As stores closed across Europe and the United States in March and April in response to the new coronavirus, many fashion brands and retailers cancelled orders for clothes, bags, and shoes worth billions of dollars from Asian garment factories, forcing them to close and lay off hundreds of thousands of workers.
The U.S. Securities and Exchange Commission (SEC) on Monday said it settled charges against three former KPMG LLP audit partners stemming from a cheating scandal at the firm.
Former Moderna director Moncef Slaoui who now leads the White House’s vaccine development effort will divest all of his equity interest, the company said. …read more […]
(Bloomberg) — Overstock.com Inc.’s stock price has been on a tear during the coronavirus crisis, but behind the scenes the online retailer is locked into a pitched battle with Wall Street over its controversial plans to issue a first-of-its-kind digital dividend.The fight stems from Overstock’s demand to control where the new securities are allowed to trade, rather than letting investors buy and sell them wherever they choose. Earlier this month, the company sent a letter to a number of financial firms reminding them that it expects all trading in the dividend to take place on a venue called tZERO, which …read more […]
Stocks are coming off a big day, with investor cheered by news of a coronavirus vaccine, and potential monetary stimulus. …read more […]
We’re in uncharted territory.
In the past, we’ve battled our way back from corrections, bear markets and financial collapses.
We’ve gone toe-to-toe with economic “black swans” that have wiped out trillions of dollars.
But this is the first time many industries have faced a global pandemic. Most of them weren’t around for the Spanish flu of 1918.
So for some nascent industries, this will be their first recession.
One of those is cannabis.
But one company recenty rebounded. And it’s leading the charge for others in the sector to come back stronger.
Back From the Brink
Over the past couple of months, we’ve heard a lot of celebrating …read more […]
The stock market is euphoric over news of a possible coronavirus vaccine. But for now, you shouldn’t be. …read more […]
Walt Disney Co’s top streaming executive, Kevin Mayer, will leave the entertainment and theme parks giant to become the chief executive officer of Chinese company ByteDance Technology Co’s popular video app TikTok, the companies said on Monday.
At its worst on March 23rd, Dow Jones and the S&P declined by around 37% and 34%. At the time, those kinds of numbers represented a loss of a 3-year gain since Trump’s election in November of 2016. Measured by VIX, market volatility spiked by 43% in March, reaching levels that are comparable to the […] …read more […]
Moderna Inc’s experimental COVID-19 vaccine, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers, according to very early data released by the biotech company on Monday.
Dutch bank NIBC Holding NV said late on Monday it has agreed to pay its 2019 dividend to its proposed buyer, U.S. equity firm Blackstone Group Inc , before the deal settles, in order to remove one hurdle to the proposed 1.36 billion-euro ($1.47 billion) takeover.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
