Business News
British Airways could suspend 36,000 employees: BBC
IAG-owned British Airways is expected to announce a suspension of about 36,000 of its employees, BBC News reported on Wednesday.
Year: 2020
Business News
Oil surges as Trump talks up hopes for truce in Saudi-Russia price war
Crude oil futures jumped nearly 5% in early trading on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal in the next few days to end their oil price war.
Business News
Elon Musk’s SpaceX bans Zoom over privacy concerns: memo
Elon Musk’s rocket company SpaceX has banned its employees from using video conferencing app Zoom, citing “significant privacy and security concerns,” according to a memo seen by Reuters, days after U.S. law enforcement warned users about the security of the popular app.
Business News
Apple will stop taking cut of some Amazon video purchases on App Store
Apple Inc said on Wednesday it would stop taking a cut of some sales for “qualifying” streaming video services on iPhones and other Apple devices, including Amazon.com’s Prime Video.
Business News
Dollar supported as investors seek safety in liquidity
The dollar held gains on Thursday as investors rushed to the security of the world’s most liquid currency as the coronavirus pandemic caused massive disruptions to global trade.
Business News
Asian stocks slip as global recession looms
Asian equity markets and crude oil looked set for further losses on Thursday, after a dire warning about the U.S. coronavirus death toll and mounting evidence the fast-spreading disease has sent the world economy hurtling into a deep recession.
Business News
U.S. Treasury to tap Wall Street advisory firms on airline aid: WSJ
The U.S. Treasury Department plans to hire PJT Partners Inc , Moelis & Co and Perella Weinberg Partners to advise on the airline portion of Washington’s $2 trillion stimulus bill, the Wall Street Journal reported on Wednesday.
Trading Ideas
U.S. sues to force Altria to unwind investment in JUUL
The U.S. Federal Trade Commission said on Wednesday it had filed a complaint aimed at forcing Marlboro maker Altria Group to sell its investment in e-cigarette maker JUUL. The FTC has probed Altria’s decision to buy a 35% stake in JUUL, announced in December 2018, for $12.8 billion. The value of the investment has dwindled to $4.2 billion as of late 2019 as a string of vaping-related deaths and potential bans clouded the industry’s prospects. …read more […]
Business News
U.S. sues to force Altria to unwind investment in JUUL
The U.S. Federal Trade Commission said on Wednesday it had filed a complaint aimed at forcing Marlboro maker Altria Group to sell its investment in e-cigarette maker JUUL.
Business News
Exclusive: U.S. officials agree on new ways to control high tech exports to China – sources
The Trump administration is tightening rules to prevent China from obtaining advanced U.S. technology for commercial purposes and then diverting it to military use, several sources told Reuters.
Trading Ideas
Banks wary of liquidity extend expensive, shorter-dated credit to GE
General Electric Co is asking its lenders to replace US$20bn in revolving loans with a new debt package that will come with a smaller size and shorter maturities, sources said. The new loans, that will come at the reduced size of US$15bn, are a testament to a changing bank landscape as firms seek to get better compensated for the risk they take to lend as volatility rattles the markets. JP Morgan, Citigroup, Bank of America, BNP Paribas, Goldman Sachs and Morgan Stanley lead the GE loans. …read more […]
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Qualcomm (QCOM) Stock Is a Buy at These Levels, Says 5-Star Analyst
Deutsche Bank’s Ross Seymore has been reviewing the impact of COVID-19 on the semiconductor industry, and it has become apparent that due to supply chain disruption and “eventual demand delay and destruction,” the sector as a whole will suffer in the near to mid-term. There are certain companies, though, that following the downturn, currently “yield an attractive risk/reward.” Qualcomm (QCOM) is among those.Qualcomm was one of the first companies to warn of the impending impact of the coronavirus. When in early February the chip giant widened the range of its EPS guidance due to the viral outbreak in China, the …read more […]
Trading Ideas
COVID-19 Just Saved This Heavily Shorted Stock
This might sound really, really strange…
But there’s one company out there right now that might’ve just been “saved” by the coronavirus.
No, the company doesn’t make ventilators.
And no, it hasn’t discovered a vaccine.
But Bloomberg calls it “the next best thing in the COVID-19 pandemic.”
What am I taking about?
The company is Blue Apron (NYSE: APRN) – and its amazing story of “rebirth” is the basis behind today’s Trade of the Day.
So let’s wash our hands and dive in…
Quite simply, Blue Apron operates a direct-to-consumer platform that delivers original recipes and fresh and seasonal ingredients straight to your doorstep.
The company essentially sends you …read more […]
Trading Ideas