Business News
Booking Holdings CEO tests positive for coronavirus
Online travel agency Booking Holdings said on Wednesday Chief Executive Officer Glenn Fogel has tested positive for coronavirus.
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Softbank pulls the plug on WeWork bailout, giving co-founder Adam Neumann another black eye
Sources tell Yahoo Finance the Softbank-WeWork deal is off. …read more […]
Business News
Nissan says U.S. auto plants will remain closed through late April
Nissan Motor Co said on Wednesday its U.S. auto plants will remain closed through late April to help reduce the spread of the coronavirus.
Business News
Starbucks extends coronavirus provisions for two weeks, explores more changes
Starbucks Corp on Wednesday said it will extend special coronavirus provisions, including pay increases for workers and closed dining areas, for two weeks to May 3.
Business News
Wall Street dives 4% as virus pandemic fears intensify
Wall Street’s three major indexes fell more than 4% on Wednesday, after President Donald Trump’s dire warning on the U.S. death toll from the coronavirus sent investors running from even the most defensive equities.
Business News
Fiat Chrysler, GM try discounts, online buying to lift plunging U.S. sales
With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler and General Motors Co moved to reboot demand with seven-year, no-interest loans and programs allowing customers to buy vehicles online.
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Fed’s New Repo Measures Followed a $100 Billion Treasury Exodus
(Bloomberg) — The Federal Reserve is trying to call time on a fire sale of Treasuries by foreign governments and central banks.Foreign official holders of Treasuries dumped more than $100 billion in the three weeks to March 25, on course for the biggest monthly drop on record, according to weekly Fed custody data that captures much of the pandemic-fueled turmoil. They joined others seeking to unload government debt globally to raise cash amid the volatility, according to traders and market makers familiar with the transactions. Countries reliant on oil exports and smaller Asian economies have been selling U.S. debt, and …read more […]
Business News
Challengers rev their engines to fight Trump’s auto emissions weakening
Just two months after taking office, President Donald Trump in March 2017 traveled to Michigan to announce that he would undo ambitious vehicle emissions standards mandated under his predecessor Barack Obama, portraying the reversal as a boost to the U.S. auto industry centered in the Midwestern state.
Business News
Multi-strategy hedge funds outperformed peers as market plunged
Multi-strategy hedge funds – those that bet on a broad array of markets using teams of traders, leverage and centralized risk management – have flourished as stocks ended their worst three months since the 2008 financial crisis.
Business News
EU industry chief sees no quid pro quo in Chinese firms’ ‘mask diplomacy’
EU industry chief Thierry Breton says he does not see any ulterior motive behind Huawei [HWT.UL] and other Chinese companies’ donations of face masks to the bloc and that solidarity is the best way to tackle the global coronavirus outbreak.
Business News
Volkswagen to extend U.S. production halt until April 12
Volkswagen AG said on Wednesday it is extending a production halt at its Chattanooga, Tennessee, assembly plant until April 12 because of the coronavirus pandemic.
Business News
Trump invites oil chiefs to discuss help for ailing industry
U.S. President Donald Trump has invited oil executives to the White House to discuss potential ways to help the industry hammered by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia, three sources familiar with the matter said on Wednesday.
Business News
Trump invites Big Oil to discuss help for ailing industry
U.S. President Donald Trump has invited oil executives to the White House to discuss potential aid for the industry, which has been hammered by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia, two sources familiar with the matter said on Wednesday.
Business News
Wall Street’s major stock indexes plunge as coronavirus anxiety grows
The U.S. benchmark S&P 500 stock index fell more than 4% on Wednesday after a dire warning on the U.S. death toll from the coronavirus sent investors running from even the most defensive equities.
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The great Trump testing scam
The White House promised millions of coronavirus tests that aren’t actually coming. …read more […]