Billionaire investor Bill Ackman called on President Trump to unleash the biggest infrastructure program in hopes to bolster the U.S. economy amid the coronavirus pandemic. Yahoo Finance’s Julia La Roche joins the On The Move panel to share the details. …read more […]
Yahoo Finance’s Anjalee Khemlani joins On The Move to discuss the latest developments in testing and developing treatments for COVID-19. …read more […]
(Bloomberg) — Southwest Airlines Co. is “living day to day,” its chief executive officer said, urging employees to keep cutting expenses wherever possible as the new coronavirus continues to erode travel.Southwest is evaluating the complex $50 billion federal program that will provide loans and cash payments to help carriers meet payroll and other employee costs. It’s premature to know “how we might fit into this” until the Treasury Department provides details, Chief Executive Officer Gary Kelly told workers Monday in his weekly recorded message.Airlines already have slashed flights, offered leaves and cut costs in other ways in response to a …read more […]
Retail giant Macy’s is set to furlough the majority of its employees this week while its stores remain closed due to the coronavirus. Yahoo Finance’s Adam Shaprio shares the details. …read more […]
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 […]
As Instacart continues to make plans for a strike, Amazon workers at the Staten Island Facility plan a walkout on Monday for the company’s mishandling of the coronavirus outbreak. Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Dan Howley discuss the details. …read more […]
JPMorgan’s Global Quantitative and Derivatives Strategy team, led by Marko Kolanovic, has been crunching the numbers on the coronavirus pandemic, and found that the forecasts can vary wildly, with predicted economic declines ranging from 20% to 70%, depending on which data the analyst chooses to start with.There are simply too many variables right now. No one truly knows if the economic shutdown will last a few more weeks, or months, or even longer – and guessing the date that business gets back in the saddle determines the depth of the current losses. Kolanovic points out that the only certain data, …read more […]
Frances Donald, Manulife Investment Management Chief Economist & Head of Macro Strategy, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Heidi Chung to discuss the market action amid the coronavirus pandemic. …read more […]
(Bloomberg) — President Donald Trump said he’s planning to call Vladimir Putin on Monday to discuss Russia’s oil-price war with Saudi Arabia and the global response to the coronavirus pandemic.“Russia’s got a big problem with that too, with the virus, so we’ll be talking about that, but literally that’s my next call,” Trump said during an interview on “Fox & Friends.”The U.S. president said he does not want to see the energy sector “wiped out” after Russia and Saudi Arabia “both went crazy” and launched into a conflict that depressed oil prices.“I never thought I’d be saying that maybe we …read more […]
Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Rick Newman break down how General Motors is converting its manufacturing process to build ventilators and its tense relationship with the White House. …read more […]
Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments, joins Yahoo Finance’s Alexis Christoforous, Brain Sozzi, Heidi Chung and Ines Ferre to discuss the latest market action amid the coronavirus outbreak. …read more […]
Global equity benchmarks rose slightly on Monday despite a drop in oil prices to their lowest levels since 2002, as central banks and the United States tried to contain damage from the rapidly spreading coronavirus that has upended the global economy.
Collapsing oil prices are costing some OPEC members not only lost revenue when they most need it to tackle the coronavirus crisis, but also market share they may never recoup. OPEC producers such as Nigeria, Angola, Algeria and Venezuela cannot compete with the lower costs of erstwhile allies Saudi Arabia and Russia, who are flooding the market. The Republic of Congo’s oil minister wrote to OPEC secretary general Mohammad Barkindo this month asking for urgent talks to help to keep some members from sliding into recession. …read more […]
UBS Group intends to pay its 2019 dividend, the Swiss bank said on Monday, despite guidance from markets supervisor FINMA, the Swiss government and international banking groups to limit payouts as the coronavirus outbreak hits the global economy.
The International Monetary Fund said on Monday the relaxation of the euro zone’s fiscal rules and support from the European Central Bank and the European Stability Mechanism is critical to a strong regional response to the coronavirus pandemic.
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