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U.S Mortgage Rates Surge Again as Lenders Look to Tank Demand
Lenders rack up mortgage rates once more to curb demand. The spread of the coronavirus will likely see, both demand and rates begin to fall. …read more […]
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Exclusive: Goldman injects $1 billion into own money-market funds after heavy withdrawals
Goldman purchased $722.4 million in assets from its GS Financial Square Money Market Fund and $301.2 million from its GS Fund Square Prime Obligations Fund, the bank disclosed on Friday in a U.S. Securities and Exchange Commission filing. Investors had withdrawn a net $8.1 billion from the two funds, putting downward pressure on their liquidity levels, the funds’ disclosed on their websites. Goldman bought securities from the funds at market value as a proactive move and not from any stressed position, Patrick Scanlan, a Goldman spokesman, said on Saturday. …read more […]
Business News
Airlines appear to come up short in bid to win cash grants in rescue package
A last-ditch effort by the chief executives of major U.S. airlines to try to win cash grants to weather the coronavirus crisis looked to be unsuccessful, four congressional aides and airline officials said late Saturday.
Business News
Amazon raises overtime pay for warehouse workers
Amazon.com Inc said on Saturday it is raising overtime pay for associates working in its U.S. warehouses as the world’s largest online retailer tries to meet the rapidly growing demand for online shopping from consumers stuck at home during the coronavirus outbreak.
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Goldman Sachs Props Own Money-Market Funds After Withdrawals
(Bloomberg) — Goldman Sachs Group Inc. pumped more than $1 billion into two of its prime money-market portfolios as investors pulled funds during one of Wall Street’s most volatile weeks.The bank bought $722.4 million in assets from its Goldman Sachs Financial Square Money Market Fund last week and another $301.2 million from its Goldman Sachs Financial Square Prime Obligations Fund, according to two filings with the Securities and Exchange Commission late Friday. Combined net withdrawals exceeded $8 billion.The purchases increased the funds’ weekly liquid assets to 42% from 34% for the first product, and to 49% from 44% for the …read more […]
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What people are eating during the coronavirus outbreak
As we continue to face the coronavirus pandemic, people around the world are clearing store shelves to stock up for the outbreak. Here is what people are eating. …read more […]
Business News
Musk, Medtronic discuss ventilators amid coronavirus outbreak
As the United States is combating a shortage of ventilators and respirators amid the coronavirus outbreak, Tesla Chief Executive Officer Elon Musk said he has had a discussion about ventilators with medical device maker Medtronic.
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Business News
Virus hit UK companies told to halt financial statements
Britain’s listed companies should not publish preliminary financial statements for at least two weeks to better assess how the coronavirus epidemic is affecting their business, the Financial Conduct Authority said on Saturday.
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Coronavirus fears spur shoppers to wait in 2-hour line for firearms in New York
As fear over the new coronavirus, or COVID-19, grips the U.S., a diverse crowd of many ages and ethnicities waited out a 2-hour line to purchase firearms and ammunition outside a Sloatsburg, New York, outdoor gear and weapons shop on Saturday. …read more […]
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Business News
Volkswagen CEO warns factory closures may drag on for weeks
Volkswagen AG CEO Herbert Diess on Saturday warned that the coronavirus crisis may force the company to keep its factories shut for longer than initially planned.
Business News
Latest on the spread of the coronavirus around the world
As coronavirus cases ballooned in Europe, several countries imposed or planned new restrictions to try to curb the spread. Britain told panic-buyers to calm down. California and three other U.S. states directed tens of millions of people to stay at home.
Business News
U.S. Senate races to agree on massive coronavirus relief package
The Republican-led U.S. Senate scrambled on Saturday to forge a bipartisan agreement on a $1 trillion-plus bill aimed at stemming the economic fallout from the growing coronavirus outbreak, as talks neared a deadline for drafting and passing the legislation.
Business News
Exclusive: Amazon.com to stop shipping non-essentials to consumers in Italy and France
Amazon.com will stop shipping non-essential products to consumers in Italy and France, the company said on Saturday, representing an escalation in the e-commerce giant’s response in regions hard hit by the coronavirus outbreak.