Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Jessica Smith discuss the $2 trillion economic stimulus package passed to combat the economic impact of the coronavirus crisis. …read more […]
Dr. Faheem Younus, the chief of Infectious Diseases at University of Maryland, Upper Chesapeake Health, debunked some of the myths about coronavirus. …read more […]
After the White House and Senators agreed on a deal to aid businesses and millions of Americans hit by the health crisis, futures briefly surged but soon reversed course as traders said much of the stimulus had been priced into financial markets. On Tuesday, the Dow Jones had soared over 11% in its best day since 1933, while the S&P 500 jumped 9.4%, recouping about $1.8 trillion in market value. “It’s too early to be positive,” said Andrea Cicione, head of strategy at TS Lombard. …read more […]
U.S. President Donald Trump may be considering lifting social restrictions to ease the downward pressure on the economy due to the new coronavirus, named COVID-19, but a former NATO commander is strongly advising against it. …read more […]
(Bloomberg) — Vince McMahon is selling part of his stake in World Wrestling Entertainment Inc. through Morgan Stanley at $38 per share, people familiar with the matter said.The overnight deal priced 2.26 million shares at the midpoint of the $37.75 to $38.25 offering range, the people said. That’s a 2.66% discount to Tuesday’s closing price.The share sale follows a 40% decline in WWE this year amid shutdowns of live events to stop the spread of the coronavirus. McMahon’s XFL football league also canceled the remainder of its season on Friday.WWE’s chief executive officer is working with an undisclosed bank to …read more […]
(Bloomberg Opinion) — The need for any kind of treatment to help stem the coronavirus outbreak is acute as cases and hospitalizations continue to mount. But there’s a strong need to balance urgency and evidence.President Donald Trump’s cheerleading of chloroquine and its derivative hydroxychloroquine — older malaria drugs with limited evidence of efficacy in Covid-19 — is arguably dangerous. As he touts the drugs in press conferences, people are reportedly poisoning themselves via self-administration and hoarding it to create hazardous shortages, making the prudent use and evaluation of it as a treatment more difficult. That said, sitting on medicines …read more […]
Target and Kroger undertake new efforts to fight the spread of coronavirus in their stores. …read more […]
Target Chairman and CEO Brian Cornell weighs in on the state of his business amidst the coronavirus pandemic. …read more […]
Top news and what to watch in the markets on Wednesday, March 25, 2020. …read more […]
(Bloomberg) — As the U.S. finds itself in the unfamiliar position of lobbying for higher oil prices, China’s enjoying what amounts to a major rebate from crude’s crash just as it tries to recover from the coronavirus.The world’s biggest oil importer is saving about $250 million a day after crude prices crashed this year amid dual demand and supply shocks. It’s coming at an opportune time for its economy, which is expected to post the slowest growth since the end of the Mao era. Should low prices last, benefits could include a boost in consumer spending, a stronger trade balance …read more […]
Early Wednesday morning, Senators Mitch McConnell and Chuck Schumer announced a massive $2 trillion dollar stimulus deal and the most contentious part of the negotiations were clearly the provisions for the business community. …read more […]
North American oil and gas producers have cut capital spending by about 30% on average, data compiled by Reuters showed. Norwegian Aker BP will postpone non-sanctioned projects to cut its planned 2020 capital and exploration spending by 20% due to the coronavirus but maintains its production guidance. Capital spending for this year would be reduced to $1.2 billion and exploration spending to $400 million, while in 2021-2022 it expects capital spending to be “well below” $1 billion. …read more […]
The world’s biggest oil and gas firms should break an industry taboo and consider cutting dividends, rather than taking on any more debt to maintain payouts as they weather the fallout from the coronavirus pandemic, investors say. The top five so-called oil majors have avoided reducing dividends for years to keep investors sweet and added a combined $25 billion to debt levels in 2019 to maintain capital spending, while giving back billions to shareholders. Oil prices have slumped 60% since January to below $30 a barrel as demand collapsed because of the pandemic and as a battle for …read more […]
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