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.
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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 […]
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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.
Business News
Trump threatens social media shutdown over Twitter fact-check label
U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies for stifling conservative voices, a day after Twitter attached a warning to some of his tweets prompting readers to fact check the president’s claims.
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Business News
All three Detroit automakers had workers test positive for COVID-19 since plants reopened
In the week since U.S. auto factories reopened after coronavirus lockdowns, workers at all three Detroit automakers have tested positive for COVID-19 but only Ford Motor Co has temporarily closed plants.
Business News
Ackman says portfolio is up as much as 27%, sold Berkshire recently
Billionaire investor William Ackman told investors on Wednesday that his funds have gained as much as 27% this year and that the stocks he already owns are still cheap after the coronavirus sparked a historic market sell off in March.