Business News
FedEx set to take stake in German deliver firm Hermes: report
U.S. logistics company FedEx Corp is close to taking a stake in German parcel delivery firm Hermes, the Handelsblatt newspaper reported on Wednesday.
Year: 2020
Business News
Occidental is sued by shareholders, bondholders over Anadarko merger
Occidental Petroleum Corp has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion to acquire Anadarko Petroleum Corp.
Business News
Oil slides on U.S.-China tensions
Oil futures tumbled on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong and as some traders doubted Russia’s commitment to deep production cuts.
Business News
American Airlines not considering Chapter 11, demand improving: CEO
American Airlines Group Inc’s is not considering a Chapter 11 bankruptcy filing, CEO Doug Parker said in response to a question at a conference on Wednesday, but said he does expect the overall U.S. airline industry to be 10% to 20% smaller in the summer of 2021.
Business News
Ferragamo calls back Norsa to help weather COVID storm
Italian luxury group Salvatore Ferragamo has called back former CEO Michele Norsa as executive director to help management revamp the brand and weather the COVID-19 storm.
Business News
Exclusive: Chevron to cut up to 15% of staff amid restructuring
Chevron Corp will cut 10% to 15% of its worldwide workforce as part of an ongoing restructuring at the second-largest U.S. oil producer.
Business News
Wall Street frets as ‘unloved’ stock rally powers on
The love-hate relationship many investors had with U.S. stocks during the more-than-decade-long bull market is reemerging, as equities steadily climb in the face of economic devastation and uncertainty over the coronavirus pandemic.
Trading Ideas
Extinction by Algos Threatens Chicago’s Silenced Trading Pits
(Bloomberg) — Pete Kosanovich can’t wait to put his trading jacket back on and return to the noisy Chicago pit where he’s worked for 17 years. The burly former football player is known on the floor by the letters “MGLA” printed on his badge, a nickname referencing the 1960s cartoon “Magilla Gorilla.”Yet this is a nightmare environment when it comes to an illness as contagious as the coronavirus: Sweaty traders crammed closely together, gesturing wildly, and screaming above the ruckus. But brokers at CME Group Inc.’s pit trading eurodollar options — the biggest of the handful of products that have …read more […]
Trading Ideas
Is Village Farms International, Inc. (VFF) Going to Burn These Hedge Funds?
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors’ consensus returns have been exceptional. In the following paragraphs, we find out […] …read more […]
Trading Ideas
Business News
S&P 500 rises on boost from bank shares
The S&P 500 edged higher in choppy trading on Wednesday as optimism over a pick up in business activity helped offset worries over simmering U.S.-China tensions, although gains were capped by losses in technology stocks.
Business News
23 U.S. states sue Trump administration over fuel efficiency rollback
A group of 23 U.S. states led by California, the District of Columbia and some major cities are challenging a Trump administration decision to weaken Obama administration fuel efficiency standards.
Business News
South African Airways can still be saved with funding: administrators
South African Airways (SAA) can still be saved if it gets the necessary funding, the state-owned airline’s administrators said on Wednesday, adding they were talking to the government about a potential restructuring.
Trading Ideas
Hedge Funds Have Never Been This Bullish On Lockheed Martin (LMT)
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds’ and successful investors’ positions as of the end of the first quarter. You can find articles about an individual hedge fund’s trades on numerous financial […] …read more […]
Business News
Ford to gradually resume operations, production at Mexican plants
Ford Motor Co will gradually resume operations and production at several of its Mexican plants, the automaker said on Wednesday, as the sector begins to come back online as coronavirus contingencies are relaxed.