Year: 2020

(Bloomberg) — An Illinois company that rapidly expanded over the past two years to deliver packages for Amazon.com Inc. is shuttering operations in five states and letting go hundreds of drivers after failing to meet the e-commerce giant’s standards.The shuttering of Bear Down Logistics underscores the challenges Amazon faces outsourcing deliveries to new, untested companies instead of traditional partners such as United Parcel Service Inc. and FedEx Corp. It also serves as a warning to Amazon delivery partners that the company is an exacting client willing to cut them off.Bear Down Logistics notified Ohio, Virginia, Minnesota and Illinois that it …read more […]

The stock market took a hit when news of the coronavirus first spread. But now it’s right back up again.
Today, Alexander Green’s market analysis reveals why investors are choosing to look beyond the negative effects of the outbreak.

On January 30, I wrote a column called “How to Play the Novel Coronavirus.”
In that piece, I pointed out that the virus was spreading rapidly and had already crippled China’s land, rail and air transport.
I noted that its spread would hurt retail sales, curtail tourism, diminish global GDP growth and disrupt the intricate cross-border supply lines of thousands of multinational corporations.
Yet I implored …read more […]

Health and Human Services Secretary Alex Azar discusses the impact of the coronavirus, and why he says China’s response must be “transparent and vigorous”. Yahoo Finance’s Anjalee Khemlani joins the On the Move panel to discuss the interview. …read more […]

A U.S. biotech company says it has created a coronavirus vaccine. Pennsylvania-based Inovio Pharmaceuticals’ San Diego lab made the discovery reportedly just hours after getting access to the virus’ genetic sequence last month. Inovio Pharmaceuticals CEO Dr. J Joseph Kim joins Yahoo Finance’s On the Move to discuss. …read more […]

(Bloomberg) — Kraft Heinz Co., the iconic food giant created in a merger five years ago, was downgraded to junk by Fitch Ratings, raising fresh worries among investors that a slowing economy could threaten the broader corporate bond market. The packaged-food company was cut one level to BB+, its first high-yield rating. Similar action from S&P Global Ratings or Moody’s Investors Service would officially dub Kraft Heinz as a fallen angel, taking it out of investment-grade indexes. Though Kraft Heinz, with just under $30 billion of debt, is a relatively small investment-grade issuer, it would become one of the top …read more […]

Naturally, famed chocolatier Jacques Torres doesn’t send roses on Valentine’s Day. “You cannot eat flowers. You can just smell them,” he joked on Yahoo Finance’s The Final Round. “Chocolate is the best thing,” he said. …read more […]

Shares of Kraft Heinz, in which billionaire Warren Buffett’s Berkshire Hathaway Inc and Brazilian private equity firm 3G own major stakes, fell about 4%. Chicago-based Kraft Heinz, which last year took a $15.4 billion writedown of key brands including Oscar Mayer hot dogs, has been struggling to grow sales as consumers shift to healthier options and private-label brands. “Following Kraft’s commentary around 2020 operating headwinds and its commitment to maintain its dividend, Fitch estimates the company may need to divest up to 20% of its projected 2020 EBITDA to support debt reduction,” the agency said. …read more […]

A big win for Amazon after a federal judge halted Microsoft’s Pentagon cloud contract following a lawsuit by the e-commerce giant. Yahoo Finance’s On the Move panel breaks down what this means for the two companies. …read more […]