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U.S. airlines rise as Trump's proposal revives bailout hope

Negotiations for coronavirus relief aid between the White House and House Democrats had stalled in large part over the price tag, with Democrats seeking $2.2 trillion and the White House staying firm at $1.5 trillion. Shares of American Airlines, United, Delta Air Lines , and Southwest Airlines were up between 1.3% and 2.8% in pre-market trading. U.S. airlines have been pleading for another $25 billion in support to protect jobs for a further six months after the previous package, which banned furloughs, expired at midnight Sept. 30. …read more […]

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Ford's new CEO Farley promises urgency at automaker, shakes up management

Ford Motor Co’s new chief executive, Jim Farley, on Thursday promised the No. 2 U.S. automaker would move with urgency, in contrast to criticism his predecessor faced. Farley, on his first day as Ford’s 11th CEO, also announced an executive shake-up that included naming a new chief financial officer. Ford’s promise to accelerate its turnaround is not new at a time when it is executing on an $11 billion restructuring. …read more […]

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Big U.S. banks to report profit plunge as pandemic recession takes hold

As big U.S. commercial banks close their books on the third quarter, analysts expect them to report a 30% to 60% plunge in profits on the year-ago period due to the pandemic-induced recession and near record low interest rates. Citigroup Inc and Wells Fargo & Co, the third- and fourth-biggest U.S. banks by assets respectively, will report net income down by about 60%, according to I/B/E/S analyst survey data from Refinitiv. Investment banks Goldman Sachs Group Inc and Morgan Stanley, which are benefitting from being more concentrated in the busy capital markets, are expected to report more modest …read more […]

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The Investing Question of a Lifetime

We looked at his chest. It was the best thing we ever saw.
It was moving.
A few seconds later, his eyes came back to life – first looking to the right and then coming around and locking in on our own.
It’s as if his big, wide eyes were asking the biggest question of their life.
“What happened?”
We went fly-fishing with a good pal and got much more than we expected. In one instant we were casting and chatting. In the next, we watched as he splashed lifeless into the water – one half of his face on the river’s muddy edge… the …read more […]

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Pound Bucks Global Risk Rally on ‘Mess’ of Brexit, Legal Action

(Bloomberg) — The pound tumbled after a report that Brexit talks were failing to close differences and as the European Union planned legal action against the U.K., dashing hopes the two sides could move toward a trade deal this week.Sterling snapped a three-day winning streak after news that the U.K. and EU remain split on the issue of state aid, a sticking point in the negotiations. The currency deepened losses after a report that the EU would take the first step in a legal process against the U.K. for breaching the terms of its withdrawal agreement from the bloc.The impasse …read more […]