Glass Lewis recommended that at Boeing’s annual meeting on April 27 shareholders vote against Larry Kellner, the chairman of its board who previously oversaw the board’s audit committee. “We believe the audit committee failed to mitigate the risk posed by management’s decisions and should be held accountable for its oversight,” Glass Lewis said in its recommendation. …read more […]
Two proxy advisers, Glass Lewis and Institutional Shareholder Services (ISS), have recommended that shareholders of Boeing Co vote against key board members of the planemaker to show objections to the company’s handling of the 737 Max crisis.
Glass Lewis recommended that at Boeing’s annual meeting on April 27 shareholders vote against Larry Kellner, the chairman of its board who previously oversaw the board’s audit committee. “We believe the audit committee failed to mitigate the risk posed by management’s decisions and should be held accountable for its oversight,” Glass Lewis said in its recommendation. …read more […]
Companies across a range of industries are slashing or suspending dividends to cope with the economic fallout from the coronavirus outbreak, complicating the stock selection process for money managers eager to buttress their portfolios with a steady stream of income. The past week’s plunge in oil prices has potentially accelerated that process, raising concerns about the rock-steady dividends of companies such as Exxon Mobil and Chevron Corp, which are set to report results on Friday, May 1. The S&P 500 dividend aristocrats index, which tracks companies that have increased dividends annually for the past 25 years and includes …read more […]
(Bloomberg) — The death toll from the new coronavirus topped 51,000 in the U.S., with the epicenter of the global outbreak now accounting for more than a quarter of all fatalities. Cases spiked among crew members on a passenger-less cruise ship docked in Japan, while some theaters were poised to re-open in South Korea.The U.S. Food and Drug Administration warned patients about taking malaria medications touted by President Donald Trump. The president now claims he was being sarcastic on Thursday when he suggested that injecting disinfectants might ward off the coronavirus. Disinfectant chatter soared on Twitter.China reported 12 new cases …read more […]
(Bloomberg) — China’s nascent rebound from the historic contraction in the first quarter is already losing pace in April, amid signs of a global recession and still weak domestic demand.While March data showed a pickup from the slump in the first two months of the year, the earliest indicators for this month show domestic demand as still very weak and companies remaining cautious.China Suffers Historic Economic Slump With Hard Recovery AheadThe aggregate index combining eight indicators tracked by Bloomberg was therefore broadly unchanged this month. While the fact that it didn’t deteriorate signals a possible bottoming-out of the economy as …read more […]
President Donald Trump on Friday threatened to block federal aid for the U.S. Postal Service unless it raises shipping rates for online companies like Amazon.com, prompting criticism that the move would hurt consumers relying more than usual on packages during the coronavirus outbreak.
Yesterday Governor Cuomo announced one of the worst news I heard all month long. Only 21% of New Yorkers tested positive for COVID-19 antibodies in recently administered semi-random antibody tests. The dumb media was kind of surprised by this news. One Bloomberg article said the following: “…the preliminary results appear to confirm predictions that the […] …read more […]
While the coronavirus pandemic has frozen global travel and hit the travel industry hard, data from home-sharing startup Airbnb Inc shows the number of domestic bookings in China for the first half of April were up more than 200% compared with the same period in March.
German automaker Volkswagen will extend until at least May 18 a suspension on operations at two production plants in Mexico due to the ongoing coronavirus pandemic, the company said in a statement on Friday.
(Bloomberg Opinion) — It’s not just air tickets that are being canceled as the coronavirus causes global travel to seize up. Purchases of aircraft are also being pulled.Aircraft lessors Avolon Holdings Ltd., China Development Bank Financial Leasing Co., and General Electric Co.’s GECAS have rescinded orders for 173 Boeing Co. 737 MAX aircraft over the past month, worth $17.8 billion at list prices. Airbus is cutting output of planes by a third, while Boeing will reduce production of 787 Dreamliners by half, people familiar with the plans told Julie Johnsson and Siddharth Philip of Bloomberg News.There’s likely to be more …read more […]
The IRS will be initiating “planned outages” on Friday and Saturday, following an earlier outage on Thursday for its “Get My Payment” tool at IRS.gov. …read more […]
Companies across a range of industries are slashing or suspending dividends to cope with the economic fallout from the coronavirus outbreak, complicating the stock selection process for money managers eager to buttress their portfolios with a steady stream of income.
U.S. Trade Representative Robert Lighthizer on Friday said he has notified Congress that the new U.S.-Mexico-Canada trade agreement will take effect on July 1, a month later than initially proposed.
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