U.S. consumers have begun spotting rare Quilted Northern and Charmin toilet paper rolls on store shelves across the United States, as stocks start building after weeks of severe shortages.
Yandex.Taxi, the ride-hailing arm of Russian internet giant Yandex , is hoping to remain profitable in the second half of this year despite a sharp drop in sales as coronavirus restrictions keep people across the country at home.
A massive hike in the national debt could require new forms of taxation within the next five years. …read more […]
Wells Fargo & Co’s relationship with firearm lobbying group the National Rifle Association is “declining,” Chief Executive Charles Scharf told investors on Tuesday.
The S&P 500 and Nasdaq indexes eased on Tuesday as scientists warned of an increase in U.S. coronavirus deaths if states lifted lockdowns too quickly, while healthcare stocks slumped after a sales warning from Merck.
(Bloomberg) — TripAdvisor Inc. is cutting a quarter of its workforce and closing offices in San Francisco and Boston in a bid to shrink costs as the coronavirus pandemic decimates travel.The Needham, Massachusetts-based company is eliminating 600 positions in the U.S. and 300 people in other offices around the world, Chief Executive Officer Steve Kaufer said in a statement Tuesday. Most remaining employees will be forced to take a 20% salary cut and be reduced to four-day work weeks for three months starting June 1.“These are the most difficult cost-saving decisions I have ever had to make,” Kaufer wrote in …read more […]
Rebecca Henderson, Author of ‘Reimagining Capitalism In A World On Fire’ and Harvard Business School Professor joins Yahoo Finance’s On The Move to assess how the U.S. can reinvent capitalism as well as fight against inequality. …read more […]
(Bloomberg) — President Donald Trump plans to order meat-processing plants to remain open, declaring them critical infrastructure as the nation confronts growing disruptions to the food supply, a person familiar with the matter said.Trump plans to use the Defense Production Act to order the companies to stay open, and the government will provide additional protective gear for employees as well as guidance, according to the person.Trump signaled the executive action at the White House on Tuesday, saying he planned to sign an order aimed at Tyson Foods Inc.’s liability, which had become “a road block” for the company. He didn’t …read more […]
Oil prices fell on Tuesday with U.S. crude leading the decline, falling about 3% as domestic stockpiles were expected to have risen closer to record highs amid tightening storage despite plans to cut production.
Senator Sherrod Brown (D) Ohio joins Yahoo Finance’s On The Move panel to discuss his thoughts on PPP loans, reopening the economy and possible mail-in voting systems. …read more […]
The official number understates the demand for jobless benefits, according to EPI. …read more […]
Bayer’s executive board won a clear vote of confidence from shareholders on Tuesday, following a rebuke last year over the handling of lawsuits related to a weedkiller.
Shrugging off reams of terrible economic data, plunging oil prices and dire corporate profits, world stocks have recouped around half of this year’s coronavirus-linked losses as investors flip over their calendars to bet on a strong recovery in 2021.
Goldman Sachs Asset Management’s co-head of equities Katie Koch reminds investors the Federal Reserve is a powerful force in markets right now. …read more […]
Senator Josh Hawley urged the Justice Department on Tuesday to open a criminal probe of Amazon.com Inc, saying the online retailer was building a monopoly using “predatory data practices” on vendors using its platform.
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