U.S. stock index futures rose on Wednesday after Google-parent Alphabet reported upbeat quarterly results, while investors braced for data that could show a sharp contraction in the domestic economy.
This is sure to be one of the most controversial columns we ever publish.
It’s about politics.
It’s not about our politics. It’s not about your politics. It’s about politics and money.
If we don’t say it, we’re not sure who will.
In 2012, we penned a similar piece on the subject. We said one of the greatest risks to investors wasn’t a sudden shift in fundamentals or dwindling consumer demand.
America is strong, we said. She’s resilient. But she’s also quite a political beast.
For all the technological breakthroughs… for all the invention and innovation… for all the hard work… politics are the variable that …read more […]
General Electric Co reported a 7.6% drop in first-quarter revenue, hurt by weakness in its aviation and power units due to the coronavirus pandemic, and fell short of its own free cash flow targets for the quarter.
The Boston-based conglomerate had earlier this month pulled its 2020 forecast, citing uncertainties created by the coronavirus outbreak, but backed its first-quarter industrial free cash flow expectation of near negative $2 billion. Free cash flow from industrial operations was negative $2.2 billion in the first quarter, missing analysts’ estimates of negative $2.02 billion, according to Refinitiv data. …read more […]
Bentley will make wearing face masks compulsory at its British car factory and has introduced a two-metre distance between workers which will result in output halving over the first couple of weeks of production, its boss told Reuters.
The U.S. Securities and Exchange Commission is investigating Luckin Coffee Inc for fabricating millions of dollars worth of sales deals last year, the Wall Street Journal reported https://on.wsj.com/3eYO4Kx on Wednesday citing people familiar with the matter.
The COVID-19 pandemic is forcing the world’s biggest advertising company WPP to accelerate its strategy of bringing its multiple agencies together to produce work more quickly for clients battling to cut costs.
Shares in Wirecard slumped again on Wednesday as a prominent short seller demanded the sacking of CEO Markus Braun after a special audit of the German payments company was unable to verify its financial statements.
Shares in Wirecard slumped again on Wednesday as a prominent short seller demanded the sacking of CEO Markus Braun after a special audit of the German payments company was unable to verify its financial statements. Chris Hohn, head of $24 billion fund TCI, said in an open letter to Wirecard’s supervisory board that the audit by KPMG raised questions over management’s compliance with anti-money laundering and know-your-customer laws. “We are of the view that the supervisory board is legally obliged to intervene,” Hohn wrote in the letter, addressed to Wirecard Chairman Thomas Eichelmann and other supervisory board members. …read more […]
(Bloomberg) — U.S. equity futures ticked higher while European stocks struggled for direction as investors counted down to more big earnings, a Federal Reserve policy decision and key American economic data. The dollar fell for a third day while oil rebounded in New York.Nasdaq 100 futures advanced after Alphabet Inc. posted better-than-estimated sales. That took some of the focus off Tuesday’s sell-off in megacap tech stocks including Amazon.com Inc. and Netflix Inc, and before Microsoft Corp. reports today. Gains in energy shares, carmakers and banks helped the Stoxx Europe 600 Index edge higher, but they were countered by a drop …read more […]
Britain’s John Lewis Partnership has appointed James Bailey, a former director of Sainsbury’s , to be the new boss of its upmarket supermarket chain Waitrose, it said on Wednesday.
Top managers at Nivea-maker Beiersdorf are waiving 20% of their fixed compensation between April and December, Chief Executive Stefan De Loecker said on Wednesday, adding that the level of management below them was also foregoing 5% of its pay.
Britain’s John Lewis Partnership [JLPLC.UL] has appointed James Bailey, a former director of Sainsbury’s , to be the new boss of its upmarket supermarket chain Waitrose, it said on Wednesday.
British clothing retailer Next has shored up its finances to help get it through the coronavirus crisis by selling property, suspending share buybacks and dividends and cutting costs after first-quarter sales fell 41%.
(Bloomberg) — Volkswagen AG joined other automakers around the globe in warning of the unprecedented fallout from the coronavirus pandemic.Supply and demand disruptions from government measures to slow the spread of the disease will cause operating profit to drop “severely” this year, the world’s largest automaker said on Wednesday. Efforts to rein in spending will allow the German company to remain profitable for the full year, despite an anticipated second-quarter loss.Volkswagen’s warning pales in comparison to the announcement from Ford Motor Co. last night. The U.S. carmaker forecast a second-quarter operating loss of more than $5 billion, devastating its efforts …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
