Occidental Petroleum Corp is offering its employees voluntary buyouts over the next two weeks, according to a document seen by Reuters on Tuesday, citing the sharp decline in oil prices and the coronavirus pandemic for “severe dislocations” in its business.
Hedge fund Mudrick Capital Management LP asked Neiman Marcus Group’s independent directors on Tuesday to explore a combination with rival department store chain Saks Fifth Avenue, challenging the company’s plan to reorganize under bankruptcy protection.
Occidental Petroleum Corp is offering its employees voluntary buyouts over the next two weeks, according to a document seen by Reuters on Tuesday, citing the sharp decline in oil prices and the coronavirus pandemic for “severe dislocations” in its business.
On recent earnings calls, Allegiant Air CEO Maury Gallagher almost seemed bored. Over more than two decades, he built one of the world’s most successful ultra-low-cost carriers, but by 2019, Allegiant had nearly run out of obvious markets to make the profit margins investors had come to expect. Between August 2015, and January 2020, Allegiant’s […] …read more […]
Asian equities were set to pull back on Wednesday as heightened concerns about coronavirus infections and the timing for a vaccine outweighed the lift from rebounding oil prices and upbeat corporate earnings in Europe.
Fate is a cruel mistress, the saying goes. But how about turning the phrase on its head? Might fate be a welcoming friend, too? That’s certainly the case during COVID-19. As some companies’ unfortunate line of business has dictated a struggle to make it through the pandemic, some are inherently well set up to benefit.Cloud based services and data focused companies, for example. Or specifically, Datadog (DDOG). The SaaS data analytics specilaist’s performance has been impressive. Since the turn of year, DDOG shares have appreciated by 82%, whilst successfully navigating through the pandemic storm. And unlike many companies struggling with …read more […]
U.S. businesses and households are going to need more fiscal support to get through what will likely be a longer period of recovery from the coronavirus shutdown than initially expected, Federal Reserve policymakers said on Tuesday.
Federal Reserve Chairman Jerome Powell will be in focus when he speaks via live webcast Wednesday. …read more […]
With the U.S. economy facing its potentially deepest economic decline in nearly a century, Wall Street is pulling further and further ahead from Main Street.
Stock futures kicked off the overnight session lower Tuesday evening, extending declines from the regular trading day. …read more […]
The U.S. Justice Department and Securities and Exchange Commission must review whether an ex-Royal Bank of Scotland employee is owed a whistleblower payout and provide documents relating to his case, a federal U.S. court said on Tuesday.
Uber Technologies Inc is in negotiations to buy online food delivery company Grubhub Inc in an all-stock deal, according to people familiar with the matter.
A group of 13 U.S. attorneys general on Tuesday asked Amazon.com Inc to provide data on coronavirus-related deaths and infections among its workforce, along with evidence of the company’s compliance with paid sick leave laws.
A senior Federal Reserve official on Tuesday defended before Congress the central bank’s decision to allow lenders to continue issuing dividends, even as the regulator seeks permission from lawmakers to further relax capital rules.
The top three U.S. airlines have told their flight attendants not to force passengers to comply with a new policy requiring face coverings, just encourage them to do so, according to employee policies reviewed by Reuters.
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