Business News
Tesla cuts contractors from California, Nevada factories: CNBC
Tesla Inc is cutting contractors from its U.S. car and battery plants, CNBC reported on Friday, citing workers and a contract staffing agency.
Year: 2020
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Tesla cuts contractors from California, Nevada factories: CNBC
The electric carmaker is axing contractors at both its vehicle assembly plant in Fremont, California, and at its Gigafactory outside of Reno, Nevada, according to the CNBC report https://cnb.cx/2UZf5EH. “It is with my deepest regret that I must inform you that the Tesla factory shutdown has been extended due to the COVID-19 pandemic, and as a result, Tesla has requested to end all contract assignments effective immediately,” Balance Staffing, a workforce management company, said in a memo sighted by CNBC. …read more […]
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What I’m Buying Right Now
Editor’s Note: Today, we’re excited to feature Julia Guth, CEO of Wealthy Retirement‘s publisher, The Oxford Club.
Below, she will reveal an investing strategy that most investors have overlooked…
But that is crucial for any portfolio – especially today.
Read on below to discover how Julia is adjusting her own portfolio in response to the current bear market.
– Mable Buchanan, Assistant Managing Editor
For more than 30 years, I’ve had access to the country’s best investment strategies.
As a result, I’ve employed the Club’s asset allocation… and certainly learned how to be a very successful stock investor.
But my portfolio is missing one very important investment…
One …read more […]
Business News
Wall Street Week Ahead: Investors look to coronavirus data to support stabilizing markets
Investors are parsing a broad range of signals, from infection counts to more traditional indicators, for clues on the trajectory markets may take in coming weeks as the pandemic caused by the novel coronavirus continues to spread.
Business News
Saudi energy minister rejects Russian comments about kingdom’s withdrawal from OPEC+ deal
The Saudi energy minister on Saturday rejected Russia’s remarks that the kingdom withdrew last month from a deal to cut output.
Business News
Saudi Arabia denies withdrawing from OPEC+ deal, says Russia was the one that withdrew
The Saudi foreign minister said early on Saturday that a statement attributed to Russia’s President Vladimir Putin about the kingdom’s withdrawal from the OPEC+ deal is not correct, and that Russia is the one that withdrew, state agency (SPA) reported.
Business News
U.S. SEC official urges delay in public comment on agency rule changes
The U.S. Securities and Exchange Commission’s lone Democratic commissioner on Friday called for a delay in pending rule changes due to the coronavirus outbreak, while cautioning against excessive regulatory relief in the rush to assist companies struggling with fallout from the pandemic.
Business News
Why sweetened layoff benefits may be at odds with U.S. loan program
The generous U.S. unemployment benefits rolled out to blunt the economic harm caused by the coronavirus could have an unintended effect: it may actually be an incentive for companies to choose layoffs rather than keep staff on their books.
Business News
U.S. airlines apply for U.S. payroll help but terms still unclear
Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed during a sharp downturn from the coronavirus, though the terms of any aid were still unclear and some warned that funds would not be enough to help them through their toughest crisis ever.
Business News
U.S. warns airlines to quickly refund tickets after canceled flights
The U.S. Transportation Department on Friday issued a notice to airlines reminding them they are obligated to refund tickets when they cancel a flight or make a significant flight schedule change that passengers opt not to accept, but will not take any immediate action against airlines.
Business News
Trump invokes Defense Production Act to stop export of masks
U.S. President Donald Trump on Friday signed an order directing his administration to stop N-95 face masks and other personal protective equipment needed in the fight against the coronavirus pandemic from being exported to other countries.
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Some WeWork Staff Planned Their Lives Around a Stock Deal That Just Collapsed
(Bloomberg) — Teddy Kramer worked at WeWork from 2013 to 2015. When he left the company, he had been a director of new market development, helping the co-working startup open new offices in different regions. He’d put in the time and been granted shares in the company. At first, he thought he might be able to sell them after WeWork’s much-anticipated initial public offering in September, but the IPO attempt flopped.As a backup option, Kramer and other current and ex-WeWork staff were told they would be able to sell their shares to SoftBank Group Corp. in a deal set to …read more […]
Business News
GM reduces loan refinancing target, may pay up for new debt
NEW YORK (LPC) – General Motors Co (GM) will seek to extend maturities on US$6bn in revolving loans rather than refinance a US$16.5bn credit facility following discussions with its bank group during an unprecedented health crisis in the US.
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