Coronavirus panic sent world stock markets tumbling again on Friday, with an index of global stocks setting its largest weekly fall since the 2008 global financial crisis, and over $5 trillion wiped from global market value this week.
The Trump administration on Friday said it would focus on concluding trade agreements with Britain, the European Union and Kenya over the coming year, while strictly enforcing trade laws and pushing for a broader reset of the World Trade Organization.
The S&P 500 fell for the seventh straight day on Friday and the benchmark index suffered its biggest weekly drop since the 2008 global financial crisis on growing fears the fast-spreading coronavirus could push the economy into recession, although stocks regained some ground right at the end of a volatile session.
Markets are hit with coronavirus fears, but businesses with these characteristics will be quicker to rebound Continue reading… …read more […]
A recap of all Fedspeak from this week’s wild market sell-off, spurred by Coronavirus fears. …read more […]
The airline industry could run into turbulence on Capitol Hill next week as a U.S. Congressional panel tackles passenger complaints about unpleasant airline experiences, holding a hearing that will include budget airline Spirit Airlines Inc and passenger advocates.
(Bloomberg) — It is an odd moment for gold to be tumbling. One of the oldest and most-trusted safe havens in times of crises, gold typically rallies amid nasty stock sell-offs like the one that has gripped the world this week.So its plunge Friday — it fell as much as 5%, the most in almost seven years — caught many traders flat-footed and scrambling for explanations as to what had just happened. The most often heard of them: Gold investors don’t want to sell but are forced to cover the losses in other asset classes.“It’s bloodshed,” Commerzbank AG analyst Carsten …read more […]
Harley-Davidson CEO Matthew Levatich is leaving the struggling motorcycle maker. The Milwaukee company announced Friday that Levatich will leave his post and seat on Harley’s board of directors. Board member Jochen Zeitz will become acting president and CEO while a board search committee is formed and Harley hires an outside search firm to fill the job. …read more […]
Goldman Sachs Group Inc’s asset management unit has added to positions in travel stocks, including hotels and cruise lines, as well as Live Nation Entertainment Inc and Japanese cosmetics company Shiseido Co Ltd, executives said Friday.
Sanofi SA has agreed to pay $11.85 million to resolve U.S. allegations that it used a charity that helps cover Medicare patients’ out-of-pocket drug costs as a means to pay them kickbacks to use a high-priced multiple sclerosis drug.
Harley-Davidson Inc said on Friday Matthew Levatich has stepped down as chief executive officer and the motorcycle maker named Jochen Zeitz as the interim CEO.
“The board and Matt mutually agreed that now is the time for new leadership at Harley-Davidson,” Zeitz said. Harley has, for years, failed to increase sales in the United States, its top market, which accounts for more than half of its motorcycles sold. Harley’s bike sales in the United States last year were the lowest in at least 16 years. …read more […]
This week’s sharp stock sell-off helped activist short-seller Andrew Left profitably close a long-held bet against online retailer Wayfair on Friday.
Vermont Senator Bernie Sanders may be surging in the polls ahead of Super Tuesday, but some on Wall Street have made their own conclusions on what November will bring: four more years of President Donald Trump.
(Bloomberg) — The bloodbath in the global markets is taking the bonds of some struggling U.S. oil and gas explorers to highly distressed levels as their stock slump accelerates.The coronavirus scare that’s sending markets worldwide on a collective nosedive is adding to growing investor animosity toward a sector that has burned borrowed cash, while failing to deliver on returns.Drillers’ fall from grace has worsened as shareholders increasingly demand they shift their focus to generating cash flow, instead of increasing production at any costs. Now, as bonds collapse, they face the double whammy of upset investors on both sides of capital …read more […]
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