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United Airlines slashes domestic, international flying as demand slides on coronavirus
United Airlines Holdings Inc is reducing U.S. and Canadian flights by 10% and international flying by 20% in the month of April and eyeing similar cuts in May in some of the most drastic measures announced to date by a U.S. airline in response to falling demand due to the coronavirus.
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United Airlines cuts flights, freezes hiring on coronavirus-hit demand
United Airlines Holdings Inc is slashing its flying schedule and implementing a series of cost-cutting measures in some of the most drastic actions by a U.S. airline to date as the spreading coronavirus has depressed air travel demand. The steps followed a meeting between U.S. President Donald Trump and the heads of major U.S. airlines including United at the White House on Wednesday, where they discussed the impact of the coronavirus crisis on the industry. In a letter to employees, United said it was reducing U.S. and Canadian flights by 10% and international flying by 20% in …read more […]
Business News
Huawei pleads not guilty to new U.S. criminal charges in 2018 case
China’s Huawei Technologies Co Ltd, the world’s largest telecommunications equipment maker, on Wednesday pleaded not guilty in a New York federal court to new charges in a 2018 case against the company.
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Data show U.S. economy on solid footing as coronavirus fears mount
U.S. services sector activity jumped to a one-year high in February, suggesting strength in the economy before a recent escalation of recession fears ignited by the coronavirus epidemic that prompted an emergency interest rate cut from the Federal Reserve.
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Wall Street jumps as Biden takes the lead
Wall Street surged on Wednesday as former Vice President Joe Biden’s strong showing in the “Super Tuesday” primary contests gave a boost to healthcare stocks and upbeat economic data helped sooth investors’ coronavirus anxieties.
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Fossil Fuels Are Out, Renewables Are In
A massive shift is underway.
Money is flooding out of fossil fuels… and into renewable energy.
And it’s happening faster than some analysts realize.
According to some estimates, the big fossil fuel companies are betting demand for their products will continue to rise until the 2040s.
But I think the peak in fossil fuel demand is going to happen in this decade.
That’s 20 years sooner than predicted. And the money is already starting to move.
Take a look…
Investors who put money in the Energy Select Sector SPDR Fund (NYSE: XLE) in January 2019 are down more than 15.7%.
Those who bet on exploration and production companies …read more […]
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Venture Capital Insanity Should Help Crowdfunders
I’ve always been a big fundamentals guy. Unlike Silicon Valley, I’ve always preferred smart growth to dumb hypergrowth.
So what I’m about to tell you might shock you…
Silicon Valley investors have gone too far in trying to make up for their sins. They want to see profits NOW. And they’re not investing if they don’t.
In what world do venture capitalists (VCs) refuse to fund early-stage companies growing 30% every month? It’s happening right now in the San Francisco Bay Area.
Companies in the midst of Series A or Series B raises had better be profitable or anticipating profitability. Otherwise, the VCs won’t …read more […]
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Coronavirus fears: There's 'no historical precedent' for mandating employers let people stay home
There’s little employees can do, legally, to force their employers to pay their wages or to hold their jobs if they insist on either skipping work or working from home over fears of contracting the illness, …read more […]
Business News
Family clan members back Volkswagen CEO’s electric strategy: Bild
Wolfgang Porsche and Hans-Michel Piech, members of the family which controls German carmaker Volkswagen , fully support the shift towards electric cars being driven by Chief Executive Herbert Diess, they told the Bild newspaper.
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IMF chief says coronavirus wipes out hopes for stronger growth in 2020
The global spread of the novel coronavirus will wipe out any hope of stronger growth in 2020, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday, adding a third of the Fund’s 189 member countries were now affected.
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AFL-CIO's Trumka: Union support has 'yet to be earned' by Democratic hopefuls
The AFL-CIO is “still evaluating” and “still asking the tough questions,” Trumka told Yahoo Finance. …read more […]
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New BoE boss Bailey says won’t back immediate virus rate cut
The Bank of England should wait until it has more clarity about the economic hit from the coronavirus outbreak before making any decision to cut interest rates, its next governor Andrew Bailey said on Wednesday.
Business News
Follow the Fed? Why central banks will not be rushed on coronavirus response
Will the world’s big central banks leave U.S. Federal Reserve Chair Jerome Powell hanging? They are certainly going to try.