U.S. retail sales likely experienced a record rise in May as 2.5 million Americans went back to work, although any rebound will retrace only a fraction of the historic drops in March and April amid the coronavirus lockdowns.
Southeast Asian ride-hailing and payments firm Grab is set to announce layoffs on Tuesday, sources told Reuters.
Oil prices slid on Tuesday on lingering concerns over the threat to fuel demand from the resurgence of new coronavirus infections around the world, though hopes for further cuts in crude supplies stemmed losses.
(Bloomberg) — Gold pushed higher as investors counted down to testimony from Federal Reserve Chairman Jerome Powell on the central bank’s next steps to combat the hit from the coronavirus pandemic.Powell, who delivers his semi-annual policy report on Tuesday and Wednesday, is expected to echo the downbeat view he gave June 10 after policy makers signaled rates would probably stay near zero through 2022. Bullion also got a lift from concerns over new outbreaks in the U.S. and a weaker dollar.Bullion has rallied this year as the pandemic triggered an unprecedented wave of stimulus, bolstering the haven’s appeal. On Monday, …read more […]
The @FCC is launching an investigation. Neville Ray, president of technology at T-Mobile, said on Twitter Monday that engineers were working to resolve a voice and data issue that has affected customers around the country. …read more […]
The Federal Communications Commission (FCC) will probe an extensive T-Mobile network outage that impacted customers across the United States, the head of the U.S. telecommunications regulatory agency said on Monday.
Chesapeake Energy Corp is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak.
Travis County Commissioners Court is scheduled to discuss terms of the deal on Tuesday, the paper reported, citing people with knowledge of the situation. The paper said it was unclear whether negotiations with Travis County show that Tesla has picked the Austin region as the site for the plant, which would build the company’s electric pickup truck and Model Y SUV and employ thousands of people, or if the company is also negotiating with officials in Tulsa, Oklahoma. The company’s chief executive, Elon Musk, has tweeted previously about the possibility of bringing a plant to Texas. …read more […]
Chesapeake Energy Corp is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak. The Oklahoma City-based company, co-founded by the late wildcatter Aubrey McClendon, is in the final stages of negotiating a roughly $900 million debtor-in-possession loan to support its operations while under Chapter 11 bankruptcy-court protection, two of the sources said. The company is also in talks with creditors to “roll up” some of its existing debt and make it …read more […]
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of March 31st, 2020. […] …read more […]
The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […] …read more […]
Oil prices dipped on Tuesday on jitters that a rise in coronavirus infections around the world could hurt fuel demand, but hopes that production cuts could be extended kept declines in check.
The coronavirus outbreak has prompted a significant increase in news consumption but the economic turmoil is forcing news businesses to accelerate their move to digital, The Reuters Institute for the Study of Journalism said.
The United States on Monday confirmed a Reuters report that it will amend its prohibitions on U.S. companies doing business with China’s Huawei [HWT.UL] to allow them to work together on setting standards for next-generation 5G networks.
Huawei Chief Financial Officer Meng Wanzhou is raising a new argument in a Canadian court in a bid to fight extradition to the United States on bank fraud charges, court documents released on Monday showed.
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