U.S. car rental company Hertz Global Holdings said on Tuesday it has paid about $16.2 million in retention bonuses to a range of key executives at the director level and above, days after the company filed for bankruptcy protection.
U.S. stocks jumped and the S&P 500 breached 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-U.S. tensions.
For investors willing to shoulder additional risk, these may be the best of times for buying stocks. Writing at Morgan Stanley, Michael Wilson, the firm’s head of US equity strategy, firmly believes that the signs are bullish, and that current conditions in the markets closely resemble those of March 2009. That was when market turned upwards after the 2008 financial crisis, beginning the longest bull run in history.Wilson wrote, “A significant driver of our bullish call … was based on the equity-risk premium reaching the same levels observed in March 2009. If there’s one thing we’ve learned over the past …read more […]
Heavy debts inherited from government bailouts and other fund-raising moves will delay the airline industry’s recovery from the coronavirus crisis, a trade body said on Tuesday.
Biotech firm Novavax has entered its coronavirus vaccine in a Phase 1 clinical trial in Australia — the first in the Southern Hemisphere. …read more […]
U.S. new home sales rose in April amid the coronavirus crisis. ING Regional Head of Research Padhraic Garvey joins Yahoo Finance’s On The Move to assess the state of housing. …read more […]
Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up with coronavirus restrictions easing.
U.S. pharmacy chains are preparing a big push for flu vaccinations when the season kicks off in October, hoping to curb tens of thousands of serious cases that could coincide with a second wave of coronavirus infections.
U.S. passenger railroad service Amtrak told Congress in a letter made public Tuesday it needs a further $1.475 billion bailout or it will be forced to make sweeping service cuts and suspend some routes.
(Bloomberg) — Natural gas flows from Europe’s biggest supplier slumped after a price rout and with storage sites at above-average levels.Flows from Russia via the Yamal-Europe pipeline that runs across Belarus and Poland to Mallnow, Germany, slumped to zero Tuesday after a sharp decline since Sunday. Shipments into Baumgarten in Austria, a major European hub for Russian gas, fell by 25% from its 10-day average.Gazprom PJSC said it continues to use the Yamal-Europe link, with actual volumes depending on client requests. Operators Gascade Gastransport GmbH and Gas Connect Austria GmbH have not notified the market of any currently planned or …read more […]
Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage.
U.S. consumer confidence nudged up in May, suggesting the worst of the novel coronavirus-driven economic slump was probably in the past as the country starts to reopen, but it would probably take a while to dig out of the hole amid record unemployment.
U.S. stocks jumped and the S&P 500 breached 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-U.S. tensions.
Novavax has begun phase one of its clinical trail for a coronavirus vaccine candidate. Yahoo Finance’s Anjalee Khemlani breaks down the latest developments. …read more […]
New York Governor Andrew Cuomo donned a face mask and rang the opening bell at the New York Stock Exchange on Tuesday, marking the partial reopening of the trading floor at the iconic 11 Wall Street building, which had been closed since March 23 due to the coronavirus.
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