March 2020 – Page 68

Trump May Ease Stay-At-Home Advice; 15,000 Dead: Virus Update

March 23, 2020 admin Comments Off

(Bloomberg) — U.S. President Donald Trump began talking privately late last week about reopening the nation to curb the economic rout. Earlier on Monday, he said measures shouldn’t be “worse than the problem itself” and later retweeted posts calling for healthy people to return to work after 15 days of precautions.The Federal Reserve announced a massive second wave of initiatives to support the U.S. economy, boosting stocks after Democrats blocked the Senate from advancing a rescue plan. Germany approved an $800 billion package, with Chancellor Angela Merkel in quarantine.Japanese Prime Minister Shinzo Abe said a postponement of the Olympics may …read more […]

Goldman Sachs: 2 Stocks to Consider Buying (and 1 to Stay Away From)

March 23, 2020 admin Comments Off

As the battle against COVID-19 wages on, investors are seeking refuge. Nations around the world are taking drastic measures to flatten the curve, but these efforts are expected to hit the economy hard.Amid the ongoing public health crisis, even the most seasoned Wall Street observers have been spooked. Three months after the virus began its rapid spread, so much remains unknown about COVID-19 and the amount of time that social distancing will be necessary. As a result, investors are turning to less risky plays, but even safer investments like Treasury bonds have been put through the wringer.With this causing recession …read more […]

PG&E utility to plead guilty to involuntary manslaughter over 2018 fire

March 23, 2020 admin Comments Off

PG&E Corp said on Monday its utility unit agreed to plead guilty to 84 involuntary manslaughter counts in connection with the 2018 Camp Fire, the most destructive fire in California’s history.

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H&M scraps dividend due to coronavirus as all costs under review

March 23, 2020 admin Comments Off

Sweden’s H&M , the world’s second largest clothing retailer, said on Monday it had decided to scrap its proposed dividend due to the coronavirus outbreak, and that it was reviewing all parts of its operations, including all costs.

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Futures jump 3% as Fed launches aggressive credit boost

March 23, 2020 admin Comments Off

U.S. stock index futures surged more than 3% on Monday, overturning early losses after the Federal Reserve took unprecedented steps to support U.S. households and companies more directly with credit as it seeks to blunt the economic damage from the coronavirus pandemic.

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US STOCKS-Futures jump 3% as Fed launches aggressive credit boost

March 23, 2020 admin Comments Off

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Fed makes 'aggressive' move to back corporate debt markets, Main St.

March 23, 2020 admin Comments Off

Federal Reserve makes announcement before markets open. …read more […]

Trump Allows Ford, General Motors, Tesla to Make Ventilators

March 23, 2020 admin Comments Off

President Donald Trump said Sunday that U.S. automakers Ford Motor (F), General Motors (GM) and Tesla (TSLA) had been given the go-ahead to produce ventilators amid a shortage of the medical equipment needed to treat coronavirus patients.The president said in a tweet that the auto companies will be permitted to “make ventilators and other metal products, FAST!”. Automakers have been seeking alternative revenue channels as the coronavirus outbreak has forced the closure of many factories.General Motors on Friday announced a collaboration with Ventec Life Systems to build ventilators. The automaker will lend its logistics, purchasing and manufacturing expertise to help …read more […]

Netflix to reduce traffic in Israel by 25% to help ISPs

March 23, 2020 admin Comments Off

Netflix said on Monday it would reduce network traffic in Israel over the next month following a government request to ease data congestion from people staying home due to the coronavirus.

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Futures slide again as virus lockdown raises contraction fears

March 23, 2020 admin Comments Off

U.S. stock index futures tumbled on Monday on rising estimates of the economic damage from the coronavirus pandemic, with Goldman Sachs estimating a 24% plunge in U.S. real GDP in the second quarter.

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Ford to suspend production in India, South Africa due to coronavirus

March 23, 2020 admin Comments Off

Ford Motor Co said on Monday it will temporarily shut down vehicle and engine production at its factories in India, South Africa, Thailand and Vietnam in response to the growing impact of the coronavirus.

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Coronavirus fears spark surge in a volatility index

March 23, 2020 admin Comments Off

A product that traders use to profit from surges in volatility has soared as coronavirus fears ravaged stocks, prompting concern about a plunge if the market’s wild swings subside.

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Fiat Chrysler CEO says group to produce face masks in Asia: union representative

March 23, 2020 admin Comments Off

Fiat Chrysler Chief Executive Mike Manley told employees that the carmaker would help with the production of masks during the coronavirus emergency, a union representative said on Monday.

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How Bad Could a Global Recession Get?

March 23, 2020 admin Comments Off

Mar.23 — Economists including former Bank of England Governor Mervyn King, Allianz chief economic adviser and Bloomberg Opinion columnist Mohamed El-Erian, and Federal Reserve Bank of St. Louis President James Bullard, comment on the prospects for the U.S. and global economy. El-Erian’s opinions are his own. …read more […]