Morgan Stanley on Thursday pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic.
Yahoo Finance’s Jared Blikre joins the On The Move panel to discuss the latest market action. …read more […]
Wall Street surged on Thursday as record weekly jobless claims came in below investors’ worst fears, making a case for more aggressive stimulus to aid businesses and families wrecked by the economic fallout of the coronavirus pandemic.
(Bloomberg) — As ridiculous as it sounds, the Dow Jones Industrial Average just climbed out of the bear market it entered two weeks ago.It’s a development that speaks to the tenuousness of market conventions in times of extreme volatility. The biggest rally since 1933 helped push the gauge up the requisite 20% from the low it hit Monday, meeting one time-honored definition of a bull market.Right now, it’s a milestone only a statistician could love given the index remains almost 25% below the record high it touched on Feb. 12 — though that doesn’t mean it won’t keep going.While weird, …read more […]
Deutsche Bank is for the first time considering asking its German staff to cut their hours and take government money instead as it tries to navigate the coronavirus crisis.
The German airline Condor has applied for an additional 200 million euros in state aid in the wake of the coronavirus outbreak, two people with knowledge of the matter said on Thursday.
Oil prices fell on Thursday after three sessions of gains as restrictions on travel worldwide crimped fuel demand, with U.S. crude futures plunging about 4% after the United States scrapped plans to buy domestic oil for its emergency reserve.
The International Monetary Fund on Thursday asked G20 leaders to back a doubling of its emergency financing capacity to strengthen its response to the rapidly spreading coronavirus pandemic that is set to cause a global recession in 2020.
Shared-office operator WeWork told investors on Thursday the $4.4 billion in cash and cash commitments it had at year-end 2019 is enough to execute its five-year plan and manage the challenges posed by the coronavirus crisis.
(Bloomberg) — U.S. mortgage rates fell for the first time in three weeks. But for would-be homebuyers frozen in fear of an economic meltdown, borrowing costs are no longer a prime concern.The average rate for a 30-year fixed loan was 3.5%, down from 3.65% last week, Freddie Mac said in a statement Thursday.Americans hunkering down in coronavirus quarantine are in no mood to shop for homes. Even if they can buy, many worry about how bad the coming recession will be, and how long it will last. A total of 3.28 million people sought unemployment benefits in the week ended …read more […]
States like New York will see significant revenue shortfalls due to coronavirus. Legalizing cannabis could make up for a quarter of the losses, which could help push legislation forward. …read more […]
Nestle , the world’s biggest food company, said it would pay full salaries to employees affected by work stoppages for a minimum of three months, to protect them from the fallout of the coronavirus pandemic.
Senior cabinet officials in the Trump administration agreed to new measures to restrict the global supply of chips to China’s Huawei Technologies, sources familiar with the matter said, as the White House ramps up criticism of China over coronavirus.
The International Air Transport Association on Thursday urged the group of the 20 major economies to act quickly to prevent irrecoverable damage to the airline industry that has been shaken by the coronavirus crisis.
(Bloomberg) — Two Tesla Inc. employees have tested positive for the coronavirus, according to an internal email.The two staffers had been working from home for almost two weeks and were not symptomatic when they were in the office, according to the memo. Both are quarantined at home and recovering well, the company told employees.The email was sent out by Tesla’s environment, health and safety department and signed by Laurie. The head of the division is Laurie Shelby, a vice president. Tesla didn’t immediately respond to requests for comment on the memo, which doesn’t specify which office the employees worked in.Chief …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
