Trading Ideas
Nasdaq to tighten rules amid concerns over Chinese firms
The move comes as tensions rise between there US and China and the Luckin Coffee scandal. …read more […]
Year: 2020
Business News
Oil gains for fourth day on signs of output cuts, better demand
Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.
Trading Ideas
Amazon Is Said To Be In Talks To Buy Bankrupt J.C. Penney
Amazon.Com Inc. (AMZN) is said to be interested in snapping up debt-strapped J.C. Penney Co. Inc., (JCP) in a deal that would bolster the online retailer’s apparel business, Women’s Wear Daily reported.Shares in J.C. Penney plunged another 23% to $0.18 before being halted on Monday. The report comes after the U.S. apparel and home retailer on Friday filed for bankruptcy protection proceedings.As part of its “renewal” plan, the Plano-based company said it will to cut its debt, streamline operations, close stores and spin off a real estate division in a move to come back in a stronger position. It has …read more […]
Business News
Auto industry key part of Italy GDP, fair to support FCA if creates jobs: minister
The auto industry represents a significant share of Italy’s economy and it’s right to support those who create jobs in the country, Deputy Economy Minister Laura Castelli said when asked about Fiat Chrysler’s request for state-backed loans.
Business News
Asia shares rally on vaccine hopes, oil retreats after early gains
Asian shares extended gains on Tuesday as more countries emerged from their economic lockdowns and a successful early-stage trial of a coronavirus vaccine cheered sentiment, although oil shed some of its early moves higher.
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Business News
Regulator asks for Credit Suisse directors’ mobile data in spy inquiry: sources
Swiss regulators have requested electronic messaging data from the mobile phones of several Credit Suisse managers and supervisory board directors as part of a probe into spying at the bank, three people familiar with the matter said.
Business News
Trump signs deal with company in effort shift drug manufacturing to U.S.: New York Times
The United States will announce on Tuesday that it has signed a $354 million contract with a company to make generic medicines and pharmaceutical ingredients in the country needed to treat COVID-19, the New York Times reported late on Monday.
Business News
Fan-free sports and curbside retail as California loosens coronavirus rules
Businesses in the San Francisco Bay Area may open for curbside retail and manufacturing, while fan-free professional sports events might be allowed as soon as June, as California continued to loosen coronavirus health restrictions on Monday.
Trading Ideas
Gold gains on U.S.-China trade friction, global stimulus
U.S. gold futures gained 0.3% to $1,739.80. Despite the news on a potential coronavirus vaccine lighting a fire under the equity markets, gold will remain very well bid due to the “ridiculously huge” Federal Reserve balance sheet, said Stephen Innes, chief market strategist at financial services firm AxiCorp. On Monday, the metal hit its highest since October 2012 before retreating to close lower, as stocks and oil surged after drugmaker Moderna said its COVID-19 experimental vaccine showed promising results in an early-stage trial. …read more […]
Trading Ideas
Moderna Prices $1.3B Equity Offering at $76/Share
Moderna (MRNA) has now priced an underwritten public offering of 17,600,000 shares at a public offering price of $76 per share, before underwriting discounts and commissions.In addition, MRNA has granted the underwriters a 30-day option to purchase up to an additional 2,640,000 shares of common stock at the public offering price.Gross proceeds from the offering will be approximately $1.34 billion, says Moderna.The offering is expected to close on or about May 21, 2020, subject to customary closing conditions.Shares in Moderna pulled back 3% in Monday’s after-hours trading, following a 20% rally during the day after the biotech reported “positive” interim …read more […]
Business News
Powell, Mnuchin to face Senate grilling on U.S. coronavirus response
The U.S. government’s handling of its massive economic response to the coronavirus pandemic will come under scrutiny on Tuesday as Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell testify before the Senate Banking Committee.
Business News
Long-lasting global recession likely due to COVID-19, says World Economic Forum report
Risk managers expect a prolonged global recession as a result of the coronavirus pandemic, a report by the World Economic Forum showed on Tuesday.
Trading Ideas
Business News
Tesla’s China car registrations plunge 64% month-on-month in April
U.S. electric vehicle maker Tesla Inc’s China car registrations slumped 64% in April, month on month, data from auto consultancy LMC Automotive showed.