Warren Buffett’s Berkshire Hathaway Inc said on Friday it sold about 18% of its stake in Delta Air Lines Inc and 4% of its holdings in Southwest Airlines Co this week, as the coronavirus pandemic drives the airline industry into perhaps its biggest crisis ever.
OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, while also waiting to see what action the United States would take as U.S. President Donald Trump met with oil companies on Friday at the White House.
Like many small business owners, New York City restaurateur Dan Kluger spent his Friday scrambling to apply for a loan under the U.S. government’s $349 billion small business bailout fund, which officially launched in the morning.
Mexicans fretted about beer supplies on Friday after Dutch brewer Heineken said it will suspend production at its seven plants in Mexico to comply with coronavirus containment measures, following a similar announcement by rival Modelo.
Walmart to limit the number of shoppers as part of its response to the coronavirus pandemic starting Saturday, April 4, to promote social distancing. …read more […]
Sometimes Christmas comes earlier than expected. 2020 might prove to be that type of year, just like 2009 was, more than a decade ago.
But don’t get me wrong. We still have a long way to go before there can be any type of celebration. It will probably take a year, at the earliest, before the economy turns around.
So until then, we must be ready for volatility.
However, the stock market is forward-looking, and the “rally” in stocks will happen well before there’s any recovery in the economy. That’s why you must have your shopping list ready now and be ready to …read more […]
The U.S. economy actually lost jobs on Friday, after a decade of gains, and the employment situation will likely only get bleaker as the nation remains closed for business to stem the spread of the deadly new coronavirus. …read more […]
Questions are building about whether big U.S. banks will have to cut dividends later this year as the coronavirus crisis puts a record portion of Americans out of work, making it difficult for borrowers to pay back loans.
Oil and gas producer Occidental Petroleum Corp on Friday named company insider Robert Peterson as its new chief financial officer.
Amazon.com Inc is postponing its major summer shopping event, Prime Day, until at least August and expects a potential $100 million hit from excess devices it might now sell at a discount, according to internal meeting notes seen by Reuters.
It is illegal for oil producers to meet to discuss pushing up oil prices under U.S. antitrust law, but perfectly legal if state regulators or the federal government set lower production levels for them, U.S. antitrust experts said on Friday.
It is illegal for oil producers to meet to discuss pushing up oil prices under U.S. antitrust law, but perfectly legal if state regulators or the federal government set lower production levels for them, U.S. antitrust experts said on Friday. A two-thirds drop in oil prices in the last three months has swiftly changed Washington’s thinking on whether or not it should meddle in the energy market. …read more […]
Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed while airlines ride out their toughest crisis in history due to the coronavirus, though some warned the funds are “not enough.”
U.S. Treasury Secretary Steven Mnuchin said on Friday he expects all large U.S. banks to be participating in a newly launched, $350 billion small business coronavirus rescue loan program by next week, with community banks issuing most of the loans so far.
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