In a newly released interview, New York Stock Exchange President Stacey Cunningham acknowledged that the resilient stock market does not reflect the condition of the economy. …read more […]
Britain’s biggest telecoms group BT suspended its dividend and said it would spend billions more on faster fibre broadband connections, as it prepares to meet the challenge posed by the merger of two of its biggest rivals.
Moderna (MRNA) has announced that the FDA has completed its review of the company’s Investigational New Drug (IND) application for its novel coronavirus vaccine candidate (mRNA-1273).The FDA will now allow the vaccine to proceed to a Phase 2 study, which is expected to begin shortly, Moderna revealed. Shares are surging 15% in Thursday’s pre-market trading, with the stock already recording a whopping 150% year-to-date gain.Looking further ahead, the company is also finalizing the protocol for the Phase 3 study of mRNA-1273, which is expected to begin in early summer of 2020.“The imminent Phase 2 study start is a crucial step …read more […]
GlaxoSmithKline has sold its stake in Unilever’s Indian business for $3.4 billion, marking India’s largest block trade, which will help the British company in its goal of reinvigorating its drug development pipeline.
Apple Inc said on Thursday that it was awarding $10 million to a maker of nasal swabs and other materials for collecting samples for Covid-19 tests in a move aimed at boosting the swab maker’s production to 1 million collection kits per week by early July.
The United States said there was “no valid basis” for the European Union to retaliate against U.S. goods in a long-running subsidy row after Boeing lost state tax breaks, but the EU said it was pressing ahead with its demand for tariffs.
JetBlue Airways Corp on Thursday posted a $268 million quarterly loss due to the impact of the coronavirus pandemic on air travel and said it had revised its order book with Airbus SE to reduce its aircraft capital expenditures by $1.1 billion through 2022.
Since cases of the novel coronavirus began accelerating in March, U.S air travel demand has sunk by about 95%, forcing airlines to shift their focus from growth plans to parking planes and minimizing their daily cash burn. While the overall number of bookings was “extremely limited,” New York-based JetBlue said it believed demand had reached a floor around mid-April and it expected to have a better sense of the third and fourth quarters by early summer. Following measures to boost its liquidity, JetBlue expects its daily cash burn to fall to just below $10 million in May from …read more […]
Air France-KLM is opening talks with its French unions on workforce cuts, Chief Executive Ben Smith told Reuters, as the airline group warned of mounting losses with no clear end in sight to the coronavirus crisis.
Stock futures rose Thursday morning as investors continued to monitor a slew of corporate earnings results and economic data for evidence of the extent of the coronavirus’s impact. …read more […]
Shares in Square Inc. (SQ) depreciated 3.5% in pre-market U.S. trading after the payment processor saw its losses almost triple in the first quarter as the coronavirus pandemic triggered a decline in payment transactions by its business customers.Losses in the first quarter ballooned to $105.89 million, or 24 cents a share, from a loss of $38.15 million, or 9 cents a share, in the year-ago-period. Adjusted net loss per share amounted to 2 cents, versus earnings’ expectations of 13 cents during the same comparative period.Square’s stock slid 3.5% to $65.74 in pre-market U.S. trading after the company said it expected …read more […]
Business jet deliveries are expected to fall this year as the pandemic keeps people under a lockdown, disrupts global travel and slows down economic activity around the world. “Bombardier has begun the gradual resumption of manufacturing operations at both Aviation and Transportation necessary to deliver on our strong rail backlog and to continue the production ramp-up of the Global 7500,” Chief Executive Eric Martel said in a statement. The company said its aviation unit suffered a significant slowdown in orders in March, leading to a $13.6 billion business aircraft backlog at the end of the quarter. …read more […]
U.S. stock index futures jumped on Thursday as a surprise rise in Chinese exports spurred hopes of a faster economic recovery, even as investors braced for data likely to show millions more Americans filed for unemployment benefits last week.
Here’s a fact we bet you haven’t heard.
It’s insane.
In all of World War II, the United States spent $4.7 trillion (in 2019 dollars). It used the money to build some incredible things… tanks, airplanes, monstrous ships and devious bombs.
The money went a long way. The innovations it led to are all around us.
But $4.7 trillion is a lot of money.
To give that amount of cash some context, if we spend $1 million per hour, all day, every day… it would take 576 years to spend what we did to win that war.
But check out this stat from The Washington Post…
All …read more […]
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