Business News
Goldman Sachs increases COVID-19 federal aid commitment by $250 million
Goldman Sachs Group Inc on Monday pledged an additional $250 million to fund the federal aid program to help businesses hurt by the COVID-19 pandemic.
Month: June 2020
Trading Ideas
GE aviation head to retire, Embraer executive to take helm
GE said last month it was planning to cut the global workforce of its aviation unit this year by as much as 25%, or up to 13,000 jobs. GE Aviation had previously issued furloughs impacting about 50% of its U.S. maintenance, repair and overhaul employees and new engine manufacturing. Slattery will assume the role of president and CEO of GE Aviation on Sept. 1, and Joyce will transition to non-executive chair of GE Aviation through December 31. …read more […]
Trading Ideas
Billions or trillions: The great coronavirus trade-off
Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Andy Serwer discuss the cost of developing a COVID-19 vaccine in such a short time, and why that money is worthwhile. …read more […]
Business News
Wall Street tumbles at open on fear over fresh virus cases
U.S. stocks opened sharply lower on Monday as a resurgence in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic revival that drove the Nasdaq to record highs last week.
Business News
PM Orban says government ready to help Audi to allow Hungarian plant run at full capacity
Hungary is ready to give financial support to Audi to allow its Hungarian manufacturing plant to run at full capacity in the wake of the coronavirus pandemic, Prime Minister Viktor Orban was reported as saying on Monday as he visited the plant.
Business News
GE aviation head to retire, Embraer executive to take helm
General Electric Co said on Monday David Joyce, the chief executive of the company’s aviation unit, would retire after 40 years with the industrial conglomerate, and would be succeeded by Embraer executive John Slattery.
Trading Ideas
Tesla’s China Car Registrations Jump In May; Stock Down In Pre-Market On Analysts’ Rating Cuts
Tesla Inc.’s (TSLA) China car registrations in May jumped 150% month on month, Reuters reported citing data from auto consultancy LMC Automotive.The U.S. electric vehicle maker’s China registrations, including imported cars, grew to 11,565 in May from 4,633 units in April.Data from the China Passenger Car Association shows sales of Tesla’s Shanghai-made Model 3 sedan hit 11,095 units in May.Still, shares in Tesla continued to fall in Monday’s pre-market trading declining another 3.4% to $903.45 after dropping 3.9% on Friday. Meanwhile, year-to-date the stock has more than doubled.Last week’s start of a downward trend was triggered by two rating downgrades …read more […]
Business News
Embraer swaps commercial aviation chief after failed Boeing deal
Brazilian planemaker Embraer SA said on Monday it was replacing the head of its commercial aviation unit after a planned deal to have Boeing Co take over that division fell apart in April.
Business News
Wall Street set to drop at open after spike in new virus cases
Wall Street was set to drop sharply at the open on Monday as a recent jump in coronavirus cases in China and parts of the United States dashed investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week.
Business News
GE aviation head David Joyce to retire
General Electric Co said on Monday David Joyce, the chief executive of the company’s aviation unit, would retire after 40 years with the industrial conglomerate.
Business News
Delta has received approval from Shanghai government to resume flights
Delta Air Lines has received approval from the Shanghai government to resume flights from June 18, a company spokeswoman said on Monday, paving the way for the carrier to resume services to China after months of suspension due to COVID-19.
Trading Ideas
Business News
United Airlines secures $5 billion loan backed by loyalty program
United Airlines said on Monday it is securing a $5 billion loan backed by its MileagePlus loyalty program, bringing potential total liquidity to $17 billion, an amount that senior executives said would be enough to carry it through a potential second or third wave of the new coronavirus that could hit the aviation industry.
Trading Ideas
Business News
Revenue at airline Avianca falls 51% through early June on coronavirus
Passenger revenue at Latin America’s No. 2 airline, Avianca Holdings , has fallen 51% for the year as of early June compared with a year ago, the carrier said, in a look into the dire financial toll that the coronavirus has taken on the company.