McDonald’s Corp said on Wednesday it would temporarily remove some items from its U.S. menu as it focuses on simplifying operations in the face of the fast-spreading coronavirus outbreak.
Asian stock markets made a cautious start on Thursday following two days of rallies, as investors await the passage and details of a $2 trillion stimulus package in the United States to combat the economic fallout from the coronavirus. It cannot come soon enough, with potentially enormous weekly U.S. initial jobless claims to appear in data due at 1230 GMT. Japan’s Nikkei fell 2.2%. …read more […]
(Bloomberg) — Occidental Petroleum Corp. Chief Executive Officer Vicki Hollub will see her compensation cut by at least $1 million as billionaire Carl Icahn extends his reach into the company’s boardroom.Hollub, who came in for withering criticism from Icahn when she orchestrated a takeover of Anadarko Petroleum Corp., will have her salary capped at $250,000, the oil driller said in a filing on Wednesday. That compares to the $1.25 million salary she collected in both 2017 and 2018 — compensation tables for 2019 haven’t yet been disclosed.The quarter-million-dollar cap also applies to other top managers, Occidental said in the filing, …read more […]
A new poll shows Americans have a pessimistic view of the airline industry in lieu of the COVID-19 pandemic …read more […]
As the coronavirus pandemic pushes India into a lockdown, the call centres and IT services firms that function as the world’s back office are struggling to piece together work-from-home solutions and other business-continuity plans.
Billionaire investor William Ackman, who hedged his portfolio weeks ago to guard against coronavirus-inspired panic selling, told investors that his private hedge fund is making money this year, an investor said on Wednesday.
Yesterday was the Dow’s best gain since 1993.
The blue chips rallied 11.37% yesterday – representing the fifth biggest percentage gain in its entire history.
And today the rally continued.
So the obvious question you’re asking…
Is this the bottom?
Or more pointedly, is it time to buy, buy, buy?
Well, sorry to throw cold water in your face, but here’s the truth…
If you look at the top four Dow gains of all time, you’ll notice that all of them came during the Dow plunge of 1929 to 1932, which is the time frame that carried us into the Great Depression.
The next two biggest single-day gains …read more […]
Johnson & Johnson Chief Scientific Officer Dr. Paul Stoffels predicts the most vulnerable will begin to receive vaccines within 12 months to prevent COVID-19. …read more […]
The outbreak and attempted containment of COVID-19 has upended the global economy as people hunker down in their homes and wait it out.
The disruption to business is unlike anything we’ve experienced before. As a result, many companies will cut their dividends, as they simply won’t have much or even any revenue in the coming weeks.
For some companies, it will be very difficult to assess whether they will be able to afford their dividends in the near future. Management teams are still figuring out what the landscape will look like for their businesses.
In many cases, they need to conserve cash. In …read more […]
Airbnb Inc on Wednesday held a phone meeting with bankers to discuss extending an existing $1 billion debt facility as the home rental start-up grapples with a slowdown from the coronavirus outbreak, according to a source who participated in the meeting.
AMC Entertainment Holdings Inc , the world’s largest theater operator, has placed its chief executive and all of its corporate employees on furlough to preserve cash during the coronavirus outbreak, a company spokesman said on Wednesday.
Stock futures were little changed Wednesday evening as investors waited for Congress to move forward with a massive stimulus package to ease economic fallout from the coronavirus outbreak. …read more […]
President Donald Trump wants America to get back to business by Easter, suggesting some efforts to slow the spread of coronavirus outbreak will no longer be needed by then, but Corporate America is taking its lead from health professionals.
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