Oil prices tumbled around 7% on Thursday, fueled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while the United States saw another large build in crude inventories.
Just Eat Takeaway said on Thursday its proposed $6 billion takeover of Grubhub to create a trans-Atlantic giant would give it the upper hand in the online food delivery market, where competitors are scrambling for share.
U.S. stocks extended losses on Thursday, with the S&P 500 on track for its sharpest percentage decline since April 1, as investors worried about a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve.
(Bloomberg) — U.S. Treasury Secretary Steven Mnuchin said the economy shouldn’t be closed again even with another surge in coronavirus cases. Meanwhile, a second wave of infections as states reopen is raising alarm after the overall count passed 2 million.U.K. Prime Minister Boris Johnson is battling to contain a public split with his top scientific advisers, after they warned the government must learn from the catalog of failures it made during the crisis. Job losses continued to mount in the country.Moderna said it had selected a dose for a final-stage clinical trial of its vaccine that should begin in July, …read more […]
Miller Value Partners recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Miller Value Partners Opportunity Equity Fund posted a return of -38.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned -19.6% in the same quarter. You should check out Miller […] …read more […]
The number of Americans seeking jobless benefits fell last week, but millions laid off because of COVID-19 continue to receive unemployment checks, suggesting the labor market could take years to heal from the pandemic even as hiring resumes.
The United States cannot let the coronavirus shut down its economy again, U.S. Treasury Secretary Steven Mnuchin said on Thursday, adding that more than $1 trillion in rescue funds will flow into the economy over the next month.
Volkswagen on Thursday apologised for posting on its Instagram page last month an advert widely criticised as “racist”, and said it was published because of a lack of cultural sensitivity.
Volkswagen on Thursday apologised for posting on its Instagram page last month an advert widely criticised as “racist”, and said it was published because of a lack of cultural sensitivity.
Delta Air Lines Inc is launching next week a program to test employees for active COVID-19 and antibodies under a partnership with the Mayo Clinic and Quest Diagnostics Inc, Chief Executive Ed Bastian said in an employee memo on Thursday.
Wall Street observers hoped recent gains signaled the arrival of blue skies, but the COVID-19 storm is thundering on. Stocks started shedding gains this week on fears of a possible second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve.A situation like this is tailor-made for defensive stock plays – and that will naturally bring investors to look at high-yield dividend stocks. But not all dividend stocks are created equal. Top analysts from Oppenheimer have chimed in – and they are recommending high-yield dividend stocks for investors looking to find protection for their portfolio. …read more […]
British Airways will sell at least 10 works of art that normally hang in its executive lounges, a source said, turning to pieces by famous artists like Damien Hirst to raise millions of pounds to help it through the coronavirus pandemic.
Miller Value Partners recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Miller Value Partners Opportunity Equity Fund posted a return of -38.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned -19.6% in the same quarter. You should check out Miller […] …read more […]
U.S. stocks opened sharply lower on Thursday with the Nasdaq falling after a four-day rally on fears of a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve.
(Bloomberg) — A massive wave of corporate distress is pitting beleaguered companies against their lenders in brawls that are shaping up to be nastier than ever before.Desperate firms and their private equity owners are seeking to take advantage of years of weakening creditor protections to help cut obligations and raise cash after the coronavirus outbreak brought businesses to a standstill. Be it via allowances written into borrowing documents when times were good or simply loopholes in deal terms, they’re siphoning collateral and transferring assets while pushing deeply discounted debt swaps onto investors, who risk seeing the value of their bonds …read more […]
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