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Stock market news live updates: Stock futures edge lower, extending declines
Stock futures ticked down Wednesday evening, adding to losses from the regular session. …read more […]
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Trump administration proposes rolling back protections for big tech
The U.S. Justice Department proposed on Wednesday that Congress take up legislation to curb protections big tech platforms like Alphabet’s Google and Facebook have had for decades, a senior official said, following through on President Donald Trump’s bid to crack down on tech giants.
Trading Ideas
U.S. Steel Claws for Cash to Keep Strategy Intact Amid Pandemic
(Bloomberg) — U.S. Steel Corp. is doing everything it can to weather the economic downturn caused by the coronavirus pandemic, including a share offering announced late Wednesday.The company offered 50 million shares — almost a third of the current number outstanding — at a level said to be about $8.58 to $8.80 per share. After closing at $9.38 in New York, shares were down 5.5% in after-market trading.The Pittsburgh-based steelmaker faces a historic decline in demand, announcing earlier Wednesday that it expects deeper losses in the second quarter than analysts forecast. At the same time, U.S. Steel is working toward …read more […]
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Underinvestment Could Send Oil Prices Soaring
British Petroleum just announced a string of write-offs, but it could be a sign of things to come in the oil, gas and energy industry …read more […]
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Tesla rival Nikola gets first Wall Street endorsement
On Tuesday, Cowen analysts led by Jeffrey Osborne initiated coverage on shares of Nikola with an overweight rating and $79 price target, saying it’s “more than just a truck company.” The Final Round panel discusses the bullish call. …read more […]
Business News
Unemployment payments backlog draws hundreds to Kentucky’s capital
Hundreds of people who lost jobs during the coronavirus crisis but have been unable to get their unemployment insurance checks converged at the Kentucky’s Capitol in Frankfort early Wednesday to seek in-person help.
Business News
PepsiCo drops Aunt Jemima, criticized for racist history; Uncle Ben’s, Mrs. Butterworth’s under review
PepsiCo Inc said on Wednesday it will change the name and brand image of its Aunt Jemima pancake mix and syrup, dropping a mascot that has been criticized for a racist history, amid a national debate over racial inequality in the United States.
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The EV Semitruck Race Is Heating Up
I spent 25 years selling electronic test equipment to AT&T. I did very well and ended up retiring at 47.
At that job, I quickly learned to pay attention to my competition. After all, many competing companies had veteran salespeople hawking equipment that rivaled my own.
One of my favorite quotes about this subject is from Henry Ford. He once said, “Competition whose motive is merely to compete, to drive some other fellow out, never carries very far. The competitor to be feared is one who never bothers about you at all, but goes on making his own business better all the …read more […]
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Coronavirus vaccine update: Wednesday, June 17
On Wednesday, Gilead Sciences announced that it would soon begin enrolling volunteers for the next phase of its Remdesivir trial. Yahoo Finance’s Anjalee Khemlani breaks down the latest news about Gilead Science’s trial on The Final Round. …read more […]
Business News
Google sets 2025 leadership diversity goal, ends ‘tailgater’ ID checks
Alphabet Inc’s Google on Wednesday announced a new hiring goal and security policy to address racial issues at its offices, as protests over police brutality against African Americans have carried into discussions about corporate culture.
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Business News
U.S. fines Copa Airlines $450K for transporting passengers between U.S., Venezuela
The U.S. Transportation Department said on Wednesday it had fined Panama’s Copa Airlines $450,000 for unlawfully transporting passengers between the United States and Venezuela via a stopover point and ordered the airline to avoid future similar violations.
Business News
Stocks waver on rising COVID cases, dollar in safety bidding
Global equity markets closed little changed on Wednesday as a rally on economic and vaccine hopes faded, while fresh coronavirus outbreaks and rising geopolitical tensions in Asia boosted demand for the dollar and safe-haven debt.
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Market Recap: Wednesday, June 17
Stocks cut earlier gains, and the S&P 500 and Dow turned negative, after new data showed further spikes in coronavirus cases in some densely populated U.S. states. …read more […]
Business News
Americans face new coronavirus challenge: a shortage of coins
Banks across the United States are facing a shortage of coins during coronavirus crisis, prompting the U.S. Federal Reserve to ration distribution and work with the U.S. Mint to boost supply.