EU antitrust regulators have opened a full investigation into Johnson & Johnson’s acquisition of Takeda Pharmaceutical’s surgical patch product TachoSil, concerned that the deal could lead to reduced choice and higher prices for customers.
Oil prices fell on Wednesday despite a massive pending U.S. economic stimulus package as the coronavirus pandemic sharply dented U.S. fuel demand in the latest week, with traders bracing for further declines.
French automaker Peugeot SA’s joint venture in China with Dongfeng Motor Group said on Wednesday it had restarted car production at its plant in Wuhan city, the epicenter of China’s coronavirus outbreak.
Venezuela has opened talks with China over possible financial support to cope with a sharp drop in oil prices and the arrival of the novel coronavirus, four sources familiar with the negotiations said.
Alberto Mendoza figures he can make it a couple of weeks on unemployment benefits before starting to decide which bills won’t get paid. The 26-year-old father of three lost his job training cooks when all the local restaurants started closing their doors and laying off staff.
The coronavirus hasn’t spared the mega-caps, and social media giant Facebook is a case in point. Among its FAANG peers, year-to-date, Facebook (FB) has suffered the most, shedding 24% of its value. Should the sharp pullback raise concern among investors? Not at all, says SunTrust Robinson’s Youssef Squali. Despite the new macro environment’s impact on future estimates and a recent price target reduction, the 5-star analyst maintains that FB remains in good health. As a result, Squali reiterated his Buy rating, although as mentioned, the price target gets a haircut – down from $265 to $230. From current levels, the …read more […]
(Bloomberg) — India’s largest online retailers including Amazon.com Inc., Walmart Inc.-owned Flipkart and Alibaba-backed fresh grocery delivery service BigBasket are facing severe disruptions and shutdowns, after authorities announced some of the strictest coronavirus-related restrictions in the world.The country’s 1.3 billion people are in a three-week lockdown, sending many to scour the web for food and daily essentials. But unlike in China, where online fresh grocery services offered a lifeline during its Covid-19 outbreak, Indian authorities are stopping food trucks on highways, and shutting down warehouses and rice mills. They’re also preventing delivery and supply-chain workers from doing their jobs, sometimes …read more […]
St. Louis Fed President James Bullard warned that the impact of the novel coronavirus on the U.S. economy would be of historic proportion. …read more […]
A compromise $2 trillion economic rescue package that will be voted on by the U.S. Senate on Wednesday is set to give passenger airlines about $25 billion in grants, and up to another $8 billion for cargo carriers and airport contractors, three people briefed on the negotiations said.
Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Dan Roberts discuss the details of Occidental’s latest pay cut. …read more […]
The havoc wrought by the coronavirus crisis could give investors leverage to put new limits on CEO pay packages and link them more closely to a range of social and environmental issues at companies’ annual meetings this spring.
The roughly $2 trillion emergency aid package being negotiated in Congress is “scaled about right” to match the hit to the economy needed to battle the coronavirus, St. Louis Federal Reserve president James Bullard said on Wednesday in a CNBC interview.
As many as 46 million people in the U.S. may be left jobless in the short term as companies shut down services that have “high contact” with the public during the battle against the coronavirus epidemic, St. Louis Federal Reserve president James Bullard said on Wednesday.
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