Siemens stock surged on Friday after the German engineering company said it was speeding up cost savings to tackle the coronavirus downturn and the flotation of its energy business remained on track.
Editor’s Note: Millions of folks have had their lives disrupted by the coronavirus crisis. And anytime your financial situation changes – whether due to this crisis or when you retire, for example – it’s crucial to reexamine your priorities when it comes to your money and spending. Below, Mark has a few simple steps to help anyone stay on target with their wealth-building goals.
Most people don’t manage their income. They bank it and spend it. This is obviously crazy.
Some people do try to manage their income by budgeting. This typically means that you look at what your income is likely …read more […]
(Bloomberg) — Money-market mutual funds, the ultimate havens for investors looking to preserve capital, once again are trying to maneuver in a zero interest-rate environment. The problem this time? They’re sitting on twice as much cash.Assets in money-market funds have soared to a record $4.77 trillion amid a flight to safety by investors this year. More than three-quarters of that is parked in Treasury-only and other government funds perceived to be the least risky, Investment Company Institute data show, in part because of regulatory reforms in 2016 that triggered an exodus from prime funds.Giants of the industry like Vanguard Group …read more […]
Top news and what to watch in the markets on Friday, May 8, 2020. …read more […]
Germany’s financial market watchdog BaFin is investigating Wirecard’s communication with investors directly ahead of the publication of a critical audit by KPMG, a spokeswoman for the regulator said on Friday.
The rebound has been powered by technology stocks but BofA said there were signs of “tech fatigue”. Tchnology stocks saw the first week of outflows so far this year, with investors redeeming $43 million worth, BofA said its weekly research note. Investors added $11.3 billion into bonds and $53.5 billion into cash in the past week, BofA said, with an internal indicator of sentiment at “extreme bearish”. …read more […]
Investors pulled $16.2 billion from stocks in the past week in the largest weekly redemption since the March stock market slump, according to the Bank of America’s weekly flows data.
Tesla Inc plans to reopen its sole U.S. car plant in Fremont, California as soon as Friday, Bloomberg reported https://www.bloomberg.com/news/articles/2020-05-08/tesla-aims-to-restart-fremont-plant-as-soon-as-friday-musk-says?sref=y3YMCJ4e on Friday, citing an email from the company to its staff.
Sony Corp said on Friday it will manufacture and donate medical face shields to hospitals in Japan, amid worries about the availability of protective equipment for healthcare workers dealing with the coronavirus pandemic.
Global shares rallied on Friday as investors cheered signs of improving Sino-American relations and looked towards more governments gradually reopening their economies.
National flag carrier Garuda Indonesia will seek to restructure $500 million of Islamic bonds due to mature next month, the deputy of the state-owned enterprises ministry said on Friday.
Siemens has secured a 3 billion euro ($3.25 billion) loan that will be transferred to the group’s Energy unit, which is scheduled to be spun off at the end of September, Chief Executive Joe Kaeser told Bloomberg TV on Friday.
Siemens is preparing for a prolonged economic trough triggered by the COVID-19 pandemic, Chief Executive Joe Kaeser told CNBC on Friday after releasing fiscal second-quarter results.
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