Year: 2020

Want to trade in your old iPhone for Apple’s latest and greatest? Here’s how to do it safely and easily. …read more […]

(Bloomberg) — President Donald Trump will receive more doses of Remdesivir on Sunday as he enters a third day in hospital, with his physician saying he has made “substantial progress” but still isn’t “out of the woods.”Trump completed a second dose of Remdesivir on Saturday and remained fever free, his doctor Sean Conley said in a Saturday evening update. He’s expected to conduct his presidential duties while being monitored by Conley.“While not yet out of the woods, the team remains cautiously optimistic,” Conley said in a statement.White House Chief of Staff Mark Meadows said in an interview on Fox News …read more […]

(Bloomberg) — A listing date that moved twice, a company known for parsing data that couldn’t find some of its own shareholders, and a complicated twist on an already unfamiliar route to market. Palantir Technologies Inc.’s direct listing had everything –- and left some shareholders wondering whether the 17-year-old company was really ready to go public.Palantir started trading Wednesday, choosing to run a seldom-tested direct listing process instead of a traditional initial public offering. The stock closed Friday at $9.20, below the $10 per share it opened at on the New York Stock Exchange, giving the company a market valuation …read more […]

(Bloomberg) — Italy’s Nexi SpA and SIA SpA are set to announce their merger after their boards meet Sunday to approve a deal to create one of Europe’s biggest payment providers, people familiar with the matter said.As part of the agreement, Nexi would approve a reserved capital increase for SIA shareholders, with no cash component, said the people, who asked not to be named because the talks are private. Nexi would hold about 70% of the merged company and SIA 30%, they said. Cassa Depositi e Prestiti SpA, SIA’s main investor, would have about 25% of the merged entity, the …read more […]

Suncor Energy will layoff about 10%-15% of its employees due to a significant drop in oil prices, the impact of the pandemic and continued market volatility.Canada-based Suncor Energy (SU) had a total workforce of about 13,000 at the end of 2019. The layoffs will be carried out over the next one and a half years, including 5% cuts in the next six months.The company informed the employees of the restructuring through an internal conference call with CEO Mark Little. The layoffs will take place throughout the organization and will be a combination of layoffs, voluntary buyouts and early retirement.Suncor’s spokesperson …read more […]

Shares of Ford Motor Company rose 2.1% on Friday after the automaker reported 3Q US sales data which reflects the industry’s stronger-than-expected recovery from the COVID-19 pandemic. The company noted that though its US auto sales fell 4.9% to 551,796 units year-on-year, it significantly outperformed an industry decline of 10%.Ford’s (F) 3Q sales data also reflected a robust sequential improvement of 27.2%. Strong demand for pickup trucks and sports utility vehicles mainly boosted the second-largest US automaker’s 3Q sales.The combined sales of F-Series and Ranger pickup trucks increased 4% to 249,997 units year-over-year. Sales for F-Series pickup trucks grew 3.5% …read more […]

Tesla announced that it delivered 139,300 units 3Q, which came ahead of analysts’ expectations of 137,000 units. Despite reporting strong shipment data, shares of the all-electric vehicle maker fell 7.4% on Friday due to the market sell-off on news of President Donald Trump’s positive test for Covid-19.Tesla’s (TSLA) Model 3 Sedan and Model Y crossover SUV made up 89% of the total 3Q deliveries while the older Model S and X accounted for the rest. During the quarter, Tesla shipped 124,100 Model 3 and Model Y vehicles, reflecting a year-over-year growth of 55.9%. Shipments for Model S and X plunged …read more […]

Uber Technologies announced on Friday that its wholly-owned trucking logistics arm – Uber Freight – has received a $500 million preferred stock investment from a group led by Greenbriar Equity. According to the ride hailing and food delivery company, the deal values the subsidiary unit at $3.3 billion on a post-money basis.Uber (UBER) intends to use the investment proceeds to build out its logistics platform and speed up product innovations. As part of the transaction, Greenbriar Managing Partners Michael Weiss and Jill Raker will join the Uber Freight board. Uber stated that it will continue to maintain majority ownership in …read more […]

WINNIPEG, Manitoba/NEW YORK (Reuters) – U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants. Canadian Prime Minister Justin Trudeau’s government intends to present its Clean Fuel Standard this year, aiming to cut 30 million tonnes of emissions by 2030. Renewable diesel, made by processing spent cooking oil, canola oil or animal fats, can be used in high concentrations or without blending in conventional diesel engines. …read more […]

News of Trump’s hospitalization at a military medical center outside Washington, where he remained on Saturday, came after trading ended on Friday. Many investors are concerned, however, that a serious decline in Trump’s health less than a month before Americans go to the polls on Nov. 3 could roil a U.S. stock market that recently notched its worst monthly performance since its selloff in March while causing turbulence in other assets. …read more […]

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A day after President Trump tweeted that he tested positive for Covid-19, the White House offered conflicting reports on the status of his health, and a growing number of Trump associates also reported infections. WSJ’s Jason Bellini has the latest. Photo: Twitter/@realDonaldTrump …read more […]

Economic data, U.S politics, Brexit, and updates on Trump’s health to drive the markets in what will be another busy week. …read more […]

The outlook for the aviation industry has deteriorated again due to rising coronavirus infections and renewed travel restrictions, Airbus chief operating officer Michael Schoellhorn was quoted as saying on Saturday. Airbus has said it needs to shed 15,000 posts worldwide. In an interview with the Handelsblatt business daily, Schoellhorn said the situation in early autumn was worse than the company had expected in the summer, adding that the planned 15,000 job cuts would be the minimum. …read more […]

This weekend’s Barron’s cover story discusses what the president’s COVID-19 diagnosis could mean for already battered industries.Other featured articles discuss how to play the video game boom and a big merger for which renowned activist investor is pushing. Also, the prospects for a crane maker, recreational vehicle stocks, lithium producers and more.Cover story “Trump’s Virus Diagnosis Clouds the Outlook for Already-Battered Industries” by Daren Fonda says that with the November election fast approaching, the news that the president has coronavirus adds another level of uncertainty for many industries. See what Barron’s believes that means for Southwest Airlines Co (NYSE: LUVE) …read more […]