Trading Ideas
Coronavirus pandemic ruins outlook for a world of electric and autonomous cars
So much for that world where every car was electric. …read more […]
Month: April 2020
Business News
Amazon warehouse workers protest near Detroit, days after NYC walkout
Amazon.com Inc said on Wednesday a handful of workers staged a demonstration at one of its warehouses near Detroit, another U.S. protest this week over staff concerns about contracting the novel coronavirus on the job.
Business News
Trump invites oil CEOs to discuss help for ailing industry: source
U.S. President Donald Trump has invited oil executives to the White House to discuss potential aid for the industry as the coronavirus pandemic spurs a historic slump in energy prices, a source familiar with the matter said on Wednesday.
Trading Ideas
Bank of America Lets 50,000 Mortgage Borrowers Skip Payments
(Bloomberg) — Bank of America said it has agreed to allow 50,000 mortgage customers to defer payments for three months because they’ve lost income as a result of the pandemic.The borrowers have all kinds of home loans, including some that are not federally backed, said Bill Halldin, a spokesman for Bank of America.To qualify for the government forbearance program, passed last week by Congress as part of the stimulus package, homeowners must contact their lenders and request help. It’s only for people who have a hardship because of the coronavirus, though it doesn’t require them to present proof.The new legislation …read more […]
Business News
Putin calls for action on ‘challenging’ energy market, Trump laments cheap oil
Russian President Vladimir Putin called on Wednesday for global oil producers and consumers to address “challenging” oil markets while U.S. President Donald Trump complained that oil cheaper “than water” was hurting the industry.
Trading Ideas
Business News
U.S. shale company Whiting becomes first major bankruptcy of oil-price crash
Whiting Petroleum Corp filed for Chapter 11 bankruptcy, the U.S. shale producer said on Wednesday, the first publicly traded casualty of crashing crude oil prices that are expected to bite into record U.S. output.
Business News
Trump, oil CEOs to discuss aid, possible tariffs on Saudi oil: WSJ
U.S. President Donald Trump plans to meet with oil executives on Friday to discuss potential aid to the industry, including possible tariffs on oil imports from Saudi Arabia, the Wall Street Journal reported, citing unidentified sources.
Business News
Fed’s Rosengren says unemployment rate could ‘rise dramatically’
Boston Federal Reserve Bank President Eric Rosengren said social distancing efforts meant to contain the coronavirus outbreak have “stilled” the economy and could lead the unemployment rate to “rise dramatically.”
Business News
U.S. dollar rises as global slump looms
The dollar advanced on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.
Business News
Insurers fret as company bosses face coronavirus legal claims
Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses, industry sources say.
Trading Ideas
‘We’ve completed the engineering on the medicine’: Distributed Bio CEO on coronavirus cure
Distributed Bio CEO Jacob Glanville is actively working on a treatment for COVID-19. He joins Yahoo Finance’s On The Move panel to discuss how the antibodies their team acquired can be effective against the virus. …read more […]
Business News
Amazon warehouse workers protest near Detroit
Amazon.com Inc on Wednesday said a handful of workers staged a demonstration at one of its warehouses near Detroit, reflecting the ongoing concerns among its staff about contracting the coronavirus on the job.
Business News
Zoom takes lead over Microsoft Teams as virus keeps Americans at home: Apptopia
Zoom Video Communications Inc’s average mobile user numbers in March were nearly three times that of its nearest rival Microsoft Corp’s Teams, according to research firm Apptopia, as the cornonavirus-driven stay-at-home lifted demand for video conferencing applications.
Business News
Explainer: Euro zone eyes package to support economy against coronavirus
With the euro zone economy in need of help from the coronavirus pandemic, officials have until April 9 to design a package that satisfies members with completely opposing views: those calling for joint debt issuance and those fiercely against it.