On this episode of Yahoo Finance Presents, Secretary Ben Carson joined Yahoo Finance’s Sibile Marcellus to discuss the state of affairs in America, including the current coronavirus pandemic, Bank of America’s statement regarding the Housing and Urban Development’s disparate impact rule, President Trump and Dr. Fauci, as well as racial inequality. …read more […]
American Airlines employees were bracing for furlough warnings this week, people familiar with the matter said on Monday, while United Airlines has already sent warnings to 36,000 workers, or about 45% of staff. According to labor rules, airlines must give employees 60 days’ notice of potential furloughs. Any furloughs would be the first in the low-cost airline’s history. …read more […]
(Bloomberg) — It took 200 million pounds ($250 million) of Richard Branson’s own money to secure the rescue of his Virgin Atlantic Airways Ltd.The outlay marks the latest example of the industry’s enduring capacity to shrink fortunes, although the British billionaire may not be surprised, having once said: “If you want to be a millionaire, start with a billion dollars and launch a new airline.”The airline business has long proved irresistible to a cohort of larger-than-life tycoons. From AirAsia Group Bhd’s Tony Fernandes to JetBlue Airways Corp. founder David Neeleman, some of the world’s most celebrated entrepreneurs have built fortunes …read more […]
Healthcare giant UnitedHealth (UNH) has reported its second quarter earning results with Q2 Non-GAAP EPS of $7.12 beating Street estimates by $1.88. Similarly GAAP EPS of $6.91 easily topped consensus expectations by $1.73.However revenue of $62.14B fell short of estimates by $1.4B, despite rising 2.5% year-over-year, as growth in serving public-sector and senior programs was partially offset by commercial enrollment declines.According to UNH earnings were substantially higher than anticipated due primarily to the unprecedented, temporary deferral of care in the company’s risk-based businesses. UNH expects these results will be offset in the quarters ahead by the assistance measures already taken, …read more […]
Warren Buffett keeps falling.
His reign has come to an end. The kings of tech have taken his place.
Gone are the days when getting rich meant buying and selling real things. In a world of funny money, numbers lose their value.
A zero doesn’t mean much when the folks in charge can print another one, flap it in the breeze and clip it to the end of their growing string of numbers.
They’ll print 2 trillion for that… 500 billion for that… Only the peons in Washington deal with millions these days.
Money – it turns out – has value only when it’s used …read more […]
(Bloomberg) — Travel and leisure stocks climbed ahead of the opening bell on Wednesday after early data from a Moderna Inc. coronavirus vaccine trial raised hopes for a return to normalcy.Airlines, cruise ship operators and hotels were among the biggest premarket gainers after results published late Tuesday showed the vaccine produced antibodies in all patients tested in the initial safety trial. American Airlines Group Inc., Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings, United Airlines Holdings Inc. and Carnival Corp. rose more than 6%.Other notable gainers included casino companies MGM Resorts International and Wynn Resorts Ltd. Restaurants, movie theater and …read more […]
A look at the shareholders of Spirit Airlines, Inc. (NYSE:SAVE) can tell us which group is most powerful. Large… …read more […]
Top news and what to watch in the markets on Wednesday, July 15, 2020. …read more […]
(Bloomberg) — Oil rose near its highest level since March as U.S. crude inventories looked set for a large drop and OPEC+ sought extra output cuts from laggards.Futures in New York traded near $41 a barrel, extending Tuesday’s gains. The American Petroleum Institute reported that inventories fell by 8.32 million barrels last week — the biggest drawdown since December if confirmed by official figures on Wednesday. Meanwhile, OPEC+ is seeking compensatory curbs in the next two months from members that overshot quotas, delegates said.Crude has traded in a tight range around $40 a barrel in July as lower supply and …read more […]
Online betting giant DraftKings (DKNG) has announced the launch of a standalone Casino app in Pennsylvania. This marks the second state where the app will be made available, following last month’s launch in New Jersey.According to DraftKings, iGaming fans in Pennsylvania will now be able to experience a more holistic product suite and dynamic gaming experience.Like in New Jersey, the app features exclusive new games, plus revamped classics, including Blackjack and Roulette. It will also offer games from third-party providers like International Gaming Technology.DraftKings Casino was previously made available to Pennsylvanians through the DraftKings Sportsbook app earlier this spring. Looking …read more […]
(Bloomberg Opinion) — The coronavirus stock market, like Covid-19 itself, is something never experienced before. Get used to it.Since March, when the global pandemic became an American catastrophe, the U.S. economy has been a shadow of its 2019 self. Yet some of the most-followed measures of equity set records while an explosion in infections showed no sign of peaking and the 14.7% unemployment rate in April was the worst since the Great Depression. The seeming contradiction of simultaneous exuberance and disaster reflects a durable change in the way investors look at U.S. companies even as wishful politicians yearn to return …read more […]
OPEC and allies such as Russia meet on Wednesday to decide oil output policy from August amid broad market expectations the group will ease supply curbs as the global economy slowly recovers from the coronavirus pandemic. A panel involving key ministers and known as the Joint Ministerial Monitoring Committee (JMMC) meets on Wednesday after 12 GMT to recommend the next level of cuts. Five OPEC+ sources have said no recommendations have been made to prolong record cuts into August. …read more […]
(Bloomberg) — Stocks and U.S. equity futures advanced, while the dollar weakened as progress in developing a coronavirus vaccine crossed a key milestone.Travel and leisure companies led gains among European equities after Moderna Inc.’s Covid-19 vaccine produced antibodies in all patients tested in an initial safety trial. German bunds opened lower and gold was little changed. Oil gained after a report pointed to a drop in U.S. crude stockpiles.The vaccine news brought optimism to financial markets that have been struggled to make headway recently in the face of new outbreaks across the U.S. and Asia.“The vaccine news is clearly a …read more […]
Boeing (BA) has revealed that a further 60 737 MAX orders were canceled in the month of June due to the fallout from the ongoing coronavirus pandemic, bringing the total 737 cancellations this year to 373. The troubled planemaker had already announced 47 of the June cancellations.According to Bloomberg, this figure did not account for Norwegian Air Shuttle ASA’s cancellation of all 97 of its remaining Boeing jets on order, as the deals have not yet been officially terminated. But the order backlog did exclude an additional 123 ‘orders in peril’ which could be called off.During June, Boeing delivered just …read more […]
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