GrubHub, DoorDash, Postmates and Uber Eats were sued on Monday for allegedly exploiting their dominance in restaurant meal deliveries to impose fees that consumers ultimately bear through higher menu prices, including during the coronavirus pandemic.
GrubHub, DoorDash, Postmates and Uber Eats were sued on Monday for allegedly exploiting their dominance in restaurant meal deliveries to impose fees that consumers ultimately bear through higher menu prices, including during the coronavirus pandemic. In a proposed class action filed in Manhattan federal court, three consumers said the defendants violated U.S. antitrust law by requiring that restaurants charge delivery customers and dine-in customers the same price, while imposing “exorbitant” fees of 10% to 40% of revenue to process delivery orders. The consumers, all from New York, said this sticks restaurants with a “devil’s choice” of charging everyone …read more […]
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd) for May and June in an effort to prop up oil prices as the coronavirus outbreak slashes fuel demand.
The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said.
COVID-19’s disruption won’t impact Amazon’s (AMZN) “leading position in e-commerce and cloud services,” so claims Tigress Financial’s Ivan Feinseth.It is hard to argue. If any company has proven its resilience in the face of the global pandemic, it is the e-commerce giant. Amazon shares are up by 17% year-to-date, compared to the S&P’s 15% drop.Amazon’s product portfolio is so wide and all-encompassing that according to Feinseth, its business performance will only accelerate over the near and long term.Where to start? Never mind the fact COVID-19 has driven consumers to further rely on Amazon’s delivery services, the list of growth drivers …read more […]
Some large U.S. passenger airlines are close to accepting the terms of a $25 billion offer for government coronavirus payroll aid, with announcements possible as early as Tuesday, people briefed on the matter said.
President Donald Trump said on Monday that his administration was close to completing a plan to re-open the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.
Major meat companies in the United States and Canada have closed plants temporarily due to cases of the new coronavirus among employees and concerns about its spread.
President Donald Trump said on Monday that his administration was close to completing a plan to re-open the U.S. economy, which has been largely shut down to slow the spread of the novel coronavirus.
(Bloomberg) — Oil prices tracked higher in Asia, drawing support from the commitment by the biggest producers to curb output even as doubts remain as to whether the cuts will be enough to offset the demand destruction caused by Covid-19.Futures in New York rose 1.8%, after easing 1.5% on Monday. The OPEC+ alliance agreement to slash production by 9.7 million barrels a day starting in May amounts to the largest coordinated cut in history, but is still dwarfed by the estimated 20 million barrels a day or greater decline in oil consumption as a result of the pandemic.Saudi Arabia is …read more […]
It’s natural during a crisis… Investors want to find the companies that will help solve the problem and come out as big winners.
In addition to serving as Chief Income Strategist at The Oxford Club, I’ve covered the biotech sector for 16 years – so I’ve seen this play out before.
Lately, there’s been a lot of speculation as to which companies will come up with the cure for COVID-19 and the effective vaccine to get us out of this mess and back to our lives.
The company or companies that do produce effective treatments and vaccines could make a mint.
Here are my …read more […]
Walt Disney Co said on Monday it has entered an unsecured credit agreement for $5 billion, at a time when companies across industries are scrambling to bolster their liquidity to weather the fallout from the coronavirus crisis.
Michael Antonelli, Baird PWM Market Strategist, joined Yahoo Finance’s Jen Rogers, Myles Udland, and Andy Serwer to recap today’s market action and what to expect from the markets this week. …read more […]
Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals.
Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals. Exxon paid a lower price to borrow than it did in a similar debt deal almost four weeks ago, a sign of how investor confidence is gradually returning after a rout in energy prices and a stock market collapse fueled by the coronavirus outbreak. Exxon raised $9.5 billion by selling five different bonds with a variety of durations ranging from five years to 31 years, up from …read more […]
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