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Prince Albert of Monaco tests positive for coronavirus
Prince Albert of Monaco has tested positive for coronavirus but his health “is not a cause for return”, his office said on Thursday.
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Ford hoards cash, withdraws profit forecast amid coronavirus outbreak
Ford Motor Co on Thursday moved to hoard cash on its balance sheet, drawing down $15.4 billion from two credit lines and suspending its dividend, in a move to bolster reserves to ride out damage to its business from the coronavirus pandemic.
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Coronavirus: Infectious disease expert details 3 scenarios for the U.S.
How will the coronavirus play out in the U.S.? According to Maciek Boni, Penn State University infectious disease expert, it depends on which scenario the country finds itself in. …read more […]
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Tesla to keep California factory as auto industry suffers amid coronavirus
General Motors, Fiat Chrysler and Ford have decided to close their factories while Tesla, under shelter-in-place orders will stay open, according to AP. Greg Migliore, Autoblog Editor-In-Chief, joins Yahoo Finance’s Alexis Christoforous, and Brian Sozzi to discuss the details. …read more […]
Business News
Rich world pumps aid to fight coronavirus, epicentre Europe reeling
The world’s wealthiest nations poured unprecedented aid into the traumatized global economy on Thursday as coronavirus cases ballooned in the current epicentre Europe even as they waned at the pandemic’s point of origin, China.
Business News
Analyst View: Fed opens central bank swap lines to stave off coronavirus slump
The U.S. Federal Reserve on Thursday opened the taps for central banks in nine new countries to access dollars in hopes of preventing the coronavirus epidemic from causing a global economic rout.
Business News
From Boeing to Tennessee whiskey, coronavirus U.S. bailout requests top $2 trillion
As the coronavirus pandemic threatens to bring U.S. economic activity to a halt, American businesses are jockeying for a financial lifeline from President Donald Trump’s administration and Congress.
Business News
Uber says has enough cash to tide over coronavirus crisis: CNBC
Uber Technologies Inc has plenty of cash on hand to get through the coronavirus crisis and is seeing growth in businesses other than ride-hailing, CNBC reported https://www.cnbc.com/2020/03/19/uber-stock-pops-after-saying-worst-of-coronavirus-fallout-is-behind-it.html on Thursday citing a conference call by Chief Executive Officer Dara Khosrowshai.
Business News
U.S. weekly jobless claims hit two-and-a-half-year high; mid-Atlantic factory activity plunges
The number of Americans filing for unemployment benefits surged by the most since 2012 to a 2-1/2-year high last week, as companies in the services sectors laid off workers because of the coronavirus pandemic.
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Hedge Funds Are Dumping Marvell Technology Group Ltd. (MRVL)
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
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Uber stock is up after CEO announces spending cutbacks
Yahoo Finance’s Alexis Christoforous and Dan Roberts discuss Uber’s cutbacks amid the coronavirus outbreak. …read more […]
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Ford Suspends Dividend, Draws $15.4 Billion From Credit Lines
(Bloomberg) — Ford Motor Co. suspended the dividend that management repeatedly vowed to maintain even through a downturn as a global pandemic forces the struggling automaker to protect its cash reserves.The company took the step to prioritize financial flexibility and investments in new-product launches this year, according to a statement. Ford also will fully draw $15.4 billion from two credit lines and retracted the 2020 earnings guidance it gave investors Feb. 4.“While we obviously didn’t foresee the coronavirus pandemic, we have maintained a strong balance sheet and ample liquidity so that we could weather economic uncertainty and continue to invest …read more […]
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Blue Apron Extends 1,100% Surge to Highest Level Since 2018
(Bloomberg) — Blue Apron Holdings Inc. shares extended a record four-day surge that has seen the stock jump more than 1,100% this week alone.The meal-kit delivery company opened above $25 a share for the first time since the fall of 2018, as investors flock for safety from the coronavirus-driven rout. The optimism comes as Americans prepare for a potential “shelter-in-place” order that would restrict their ability to leave their homes.The shares spiked as much as 77% on Thursday, trading at the highest level since September 2018, before trimming those gains and triggering a volatility pause. The latest move comes as …read more […]
Business News
Big Utah cash pool puts brakes on corporate debt that juiced its yields
One of the most aggressive state-run cash pools that regularly trounces the returns of peers and money-market funds with big bets on short-term corporate debt is no longer eager to buy some of the blue-chip names that produce those juicy yields.