May 2020 – Page 16

U.S. Stocks End Rally With China Tensions Rising: Markets Wrap

May 28, 2020 admin Comments Off

(Bloomberg) — U.S. stocks erased gains and ended lower after President Donald Trump said he’d hold a press conference Friday to discuss China, potentially stoking tensions between the world’s two largest economies.The S&P 500 lost an advance of more than 1% on Trump’s announcement, with investors speculating the U.S. will take action against China that could destabilize the global economy, although the precise agenda was unclear. Traders have warily been watching an escalation between Washington and Beijing even as stocks surged for the past two days. Chinese lawmakers earlier approved a proposal for new national-security legislation in Hong Kong, a …read more […]

Trump directs AG to boost enforcement of state laws on social media companies

May 28, 2020 admin Comments Off

U.S. President Donald Trump said on Thursday that he is directing Attorney General William Barr to work with states to enforce their own laws against what he described as deceptive business practices by social media companies.

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Wall Street ends down in late selloff; Facebook weighs

May 28, 2020 admin Comments Off

Wall Street ended lower on Thursday following a late-session reversal, with Facebook weighing on the market after President Donald Trump said he would sign an executive order related to social media companies and said he would hold a news conference on China on Friday.

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Renault poised to announce 15,000 layoffs worldwide: union

May 28, 2020 admin Comments Off

French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering sales, a representative for the CFDT union said after meeting with the company.

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S&P cuts Rolls-Royce credit rating to junk on COVID-19 hit

May 28, 2020 admin Comments Off

Ratings agency Standard & Poor’s cut engine maker Rolls-Royce’s credit rating to junk on Thursday, citing the disruption caused to global air travel from the COVID-19 pandemic.

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Oil rises as higher U.S. refinery rates offsets surprise crude build

May 28, 2020 admin Comments Off

Oil futures rose about 2% on Thursday as a steady improvement in U.S. refining activity offset a surprise build in crude and diesel inventories and on worries that China’s new Hong Kong security law could result in trade sanctions.

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Masks, cleaning, filtration better than blocking middle seats: United CEO

May 28, 2020 admin Comments Off

United Airlines Holdings Inc Chief Executive Scott Kirby said on Thursday that facial masks, aircraft cleaning and air filtration systems are better measures for preventing the spread of the coronavirus on airplanes than trying to social distance.

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Stocks, euro rise on recovery hopes; U.S.-China rift lifts gold

May 28, 2020 admin Comments Off

Global equity markets climbed on Thursday on optimism for a speedy economic recovery and a massive stimulus plan in Europe helped lift regional stocks and the euro, while gold rebounded on a safety bid on deteriorating U.S.-China relations.

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Fed’s Kaplan says U.S. economy has bottomed, ties rebound to testing

May 28, 2020 admin Comments Off

The U.S. economy has likely bottomed, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday, but a healthy rebound depends on a massive increase in testing so that people feel comfortable resuming traveling, dining out and other pre-crisis activities.

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German auto supplier ZF Friedrichshafen to cut up to 15,000 jobs: memo

May 28, 2020 admin Comments Off

German car parts supplier ZF Friedrichshafen plans to reduce the workforce by up to 15,000 jobs, or around 10%, by 2025 as a result of a slump in demand, according to a memo on Thursday.

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There’s going to be parts of the economy that ‘won’t get help from the Fed’: Fmr. Federal Reserve Economist

May 28, 2020 admin Comments Off

Nareit Senior Economist and Former Federal Reserve Economist Calvin Schnure joins Yahoo Finance’s Akiko Fujita to discuss the most recent jobless claims as another 2.123 million Americans file for unemployment benefits. …read more […]

COVID-19 infects more than 3,000 U.S. meatpacking workers: union

May 28, 2020 admin Comments Off

More than 3,000 U.S. meatpacking workers have tested positive for COVID-19 and at least 44 workers have died, the country’s largest meatpacking union said on Thursday, reflecting an increasing toll on plant employees.

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Why Temperament Trumps Intelligence in Trading and Investing

May 28, 2020 admin Comments Off

You would expect that the world’s most intelligent business experts would also be the most successful investors, but that’s not the case.
Today, Nicholas Vardy explains why a high IQ is not the key to success in investing and trading.

Throughout my investment career, I have studied many of the world’s leading traders and investors.
The majority of these folks were smart by most conventional measures.
But very few had the sky-high IQ of a mathematics professor like Renaissance Technologies founder Jim Simons.
Warren Buffett agrees that high intelligence is not necessary to be a world-class investor.
As Buffett put it…
Success in investing doesn’t correlate with …read more […]

General Electric cash flow forecast disappoints, shares fall

May 28, 2020 admin Comments Off

General Electric expects to burn more cash than expected in the second quarter, as the industrial conglomerate struggles with weakness in its aviation business due to the coronavirus crisis, Chief Executive Officer Larry Culp said on Thursday.

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Senator sees U.S. sticking to trade deal with China despite pandemic concerns

May 28, 2020 admin Comments Off

U.S. Senate Finance Committee Chairman Chuck Grassley on Thursday said he did not expect President Donald Trump to walk away from a Phase 1 trade deal with China despite concerns over Beijing’s handling of the coronavirus pandemic.

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