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Amazon confirms first coronavirus case among U.S. employees
Online retailer Amazon.com Inc said on Tuesday an employee in the United States tested positive for the coronavirus.
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Business News
Oil rises as OPEC+ moves closer toward deeper output cut
Oil prices rose more than 1% on Wednesday on expectations that major producers have moved closer to an agreement to enact deeper output cuts aimed at offsetting the slump in demand caused by the coronavirus outbreak.
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Amazon Employee in Seattle Has Confirmed Case of Coronavirus
(Bloomberg) — Amazon.com Inc. notified employees Tuesday of the first confirmed case of coronavirus among its U.S. workforce. The online retailer told workers about the infected employee via email.The employee left work Feb. 25 due to an illness and the company said it was informed Tuesday that the person had contracted Covid-19. All co-workers in contact with the employee, who were at Amazon’s South Lake Union office complex in Seattle, have been notified, the company said.Two Amazon employees in Italy were previously confirmed to have contracted the virus. The company has said it will limit nonessential travel within the U.S. …read more […]
Business News
Exclusive: SoftBank-backed CloudMinds blocked from exporting U.S. tech to China
SoftBank-backed startup CloudMinds has been blocked from sharing U.S.-origin technology with its China business, documents showed, illustrating how increased U.S. government restrictions are creating new headaches for tech firms and their investors.
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Hedge Funds Have Never Been This Bullish On Amazon.com, Inc. (AMZN)
Coronavirus is probably the 1 concern in investors’ minds right now. It should be. We estimate that COVID-19 will kill around 5 million people worldwide and there is a 3.3% probability that Donald Trump will die from the new coronavirus (see the details). So, how do we invest in this environment? We track hedge funds […] …read more […]
Business News
Asian shares struggle for traction as Fed cut fails to lift confidence
Asian shares wobbled on Wednesday and bonds held gains, as an emergency rate cut from the U.S. Federal Reserve did little to soothe investor fears over the coronavirus’s widening fallout.
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Hedge Funds Have Never Been This Bullish On Alphabet Inc (GOOGL)
Coronavirus is probably the 1 concern in investors’ minds right now. It should be. We estimate that COVID-19 will kill around 5 million people worldwide and there is a 3.3% probability that Donald Trump will die from the new coronavirus (see the details). So, how do we invest in this environment? Although the masses and […] …read more […]
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Here’s Why Oil Prices Should Go Higher
The “knock-on” effects of broken supply chains and demand destruction in and outside of China could lead to the first period of negative demand growth since the financial crisis of 2008/2009 …read more […]
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U.S. Futures Climb, Yen Dips, Asia Stocks Mixed: Markets Wrap
(Bloomberg) — U.S. stock futures rose after early wins in the Super Tuesday primaries by Joe Biden lessened the chance of the Bernie Sanders nomination that had unsettled some investors.The yen dipped and Japanese equities recouped early losses. Futures on the S&P 500 were up about 0.8% after the index had tumbled almost 3% in wake of an emergency 50 basis-point Federal Reserve interest-rate cut that had failed to ease concerns about an economic downturn thanks to the coronavirus. Ten-year Treasury yields stayed below 1% after falling below that level for the first time Tuesday.Biden, positioned as a moderate against …read more […]
Business News
HK’s Bank of East Asia to review assets with Elliott Management
Hong Kong-based Bank of East Asia said on Wednesday it would carry out a comprehensive review of its portfolio of businesses and assets with the support of activist investor Elliott Management.
Business News
Asian shares poised to slide as surprise Fed cut fails to halt rout
Asian shares were poised to drop on Wednesday and bonds soared, after an emergency rate cut from the U.S. Federal Reserve was unable to quell investor fears over the coronavirus’s widening fallout.
Business News
SoftBank CEO hosts ‘pre-IPO summit’ in New York as he courts investors
SoftBank Group Corp Chief Executive Masayoshi Son held his first “pre-IPO summit” for the Japanese conglomerate’s portfolio companies on Tuesday, introducing them to Wall Street investors who could be backing their stock market debuts.
Business News
Fed cuts rates to blunt coronavirus impact, markets drop
The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world’s largest economy from the impact of the coronavirus, but the emergency move failed to comfort U.S. financial markets roiled by worries about a deeper, lasting slowdown.
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HPE Reports Sales That Miss Estimates on Weak Server Demand
(Bloomberg) — Hewlett Packard Enterprise Co. reported sales that fell short of Wall Street estimates, signaling weaker corporate demand for servers amid macroeconomic concerns and the ongoing shift to cloud computing.Fiscal first-quarter sales declined 8% to $6.95 billion, the San Jose, California-based company said Tuesday in a statement. It marked the fifth consecutive quarter of year-over-year sales declines. Analysts, on average, expected $7.21 billion, according to data compiled by Bloomberg.Profit, excluding some items, was 44 cents a share, matching analysts’ projections. The company also maintained its fiscal 2020 outlook for adjusted profit at $1.78 to $1.94 a share.HPE Chief Executive …read more […]
Business News
Wall Street prepares as coronavirus gets closer to home
Wall Street stepped up preparations to deal with the impact of the coronavirus on Tuesday, testing backup plans and asking employees to work from home, as a New Yorker tested positive for the virus, bringing the prospect of the spread of the infection closer to home.