Trading Ideas
Month: June 2020
Business News
Europe’s Just Eat Takeaway to buy U.S. delivery firm Grubhub for $7.3 billion
European food ordering firm Just Eat Takeaway.com NV on Wednesday announced a $7.3 billion deal to buy U.S. food delivery firm Grubhub Inc and create the world’s biggest food delivery company outside of China.
Business News
Amazon implements one-year moratorium on police use of facial recognition software
Amazon.com Inc said on Wednesday it was implementing a one-year moratorium on the use of its facial recognition software by the police following backlash over the use of racially biased surveillance technology amid ongoing protests in the United States.
Business News
Boeing supplier Spirit announces layoffs due to virus, 737 MAX impacts
Aircraft parts maker Spirit AeroSystems Holdings Inc announced on Wednesday a 21-day layoff for staff doing production and support work for Boeing Co’s 737 program.
Business News
Better three months late than never for Fed ‘Main Street’ loans, Powell says
It is not too late for small and medium-sized U.S. businesses to benefit from the Federal Reserve’s “Main Street” lending program, Chair Jerome Powell said on Wednesday, even though its launch in the coming days will be nearly three months after the central bank announced the nearly $600 billion program.
Business News
Possible Fed move to cap yield rise could further weaken U.S. dollar
The U.S. dollar would probably come under further pressure if the Federal Reserve adopts targets for U.S. Treasury yields that would limit their rise and ensure that interest rates remain near zero for some time.
Business News
Dollar, stocks slip as Fed signals slow growth
The dollar slid to a three-month low and a gauge of global stocks fell on Wednesday after the Federal Reserve projected a more sluggish recovery than the market expected, but the Nasdaq hit a fresh high on expectations of low interest rates past 2022.
Business News
Nikola in talks with automakers for Badger pickup truck production: founder
Nikola Corp , a maker of hydrogen-fueled vehicles, is in the process of picking a partner to produce its Badger pickup truck, while also aiming to start deliveries of its electric commercial big rigs next year, founder Trevor Milton said on Wednesday.
Business News
S&P 500, Dow finish lower in volatile trade on dour Fed forecasts
The Dow and S&P 500 ended a choppy session lower on Wednesday after the Federal Reserve reassured investors of its support for the economy but projected a 6.5% decline in gross domestic product this year.
Business News
Lufthansa says up to 26,000 employees at risk of losing jobs
Lufthansa admitted on Wednesday that the positions of up to 26,000 employees are surplus to requirements, suggesting many more jobs will be cut at the German carrier than a figure of more than 10,000 flagged a few weeks ago.
Trading Ideas
Just Eat Takeaway, Grubhub finalizing all-stock deal: RPT
Europe’s Just Eat Takeaway and Grubhub are finalizing an all-stock deal in which Just Eat Takeaway would pay a small premium to $58 per Grubhub share, according to CNBC. Uber shares tumbled on the news its deal with Grubhub may be in jeopardy. Yahoo Finance’s The Final Round panel breaks down the details.
…read more […]
Business News
Fiat, PSA face EU antitrust probe over $50 billion merger: sources
Fiat Chrysler and Peugeot maker PSA face a lengthy EU antitrust investigation after declining to offer concessions to allay EU antitrust concerns about their planned $50 billion merger, people familiar with the matter said on Wednesday.
Business News
Ford recalls 2.15 million U.S. vehicles for potentially faulty door latches
Ford Motor Co said on Wednesday it will recall 2.15 million U.S. vehicles with potentially faulty door latches.
Trading Ideas
Federal Reserve chief: Millions of people won't return to work because of COVID-19 pandemic
A sobering stat supplied by Federal Reserve chief Jerome Powell at his latest policy press conference. …read more […]
Business News
S&P 500 ends lower in volatile trade following Fed statement
The Dow and S&P 500 ended a choppy session lower on Wednesday after the Federal Reserve reassured investors of its support for the economy but projected a 6.5% decline in gross domestic product this year.