Month: June 2020

The coffee giant said it would pause advertising on some platforms in an effort to address hate speech. …read more […]

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The billionaire tech chief warned that the school system needs to be prepared for the fall, especially if a new wave of COVID infections swamps the U.S. …read more […]

(Bloomberg) — The Federal Reserve bought bonds issued by companies including AT&T Inc., UnitedHealth Group Inc. and Walmart Inc. as part of its emergency lending program set up in response to the pandemic, according to new disclosures.On June 16, the U.S. central bank began purchasing securities of individual issuers as part of a broad index it created to include companies that were eligible for the program.The disclosures, posted Sunday, showed that of the $207 million of purchases made on the first day of buying, about 21% were of debt issued by firms in the consumer non-cyclical sector, while 15% were …read more […]

Nursing homes face a lack of funding coupled by outbreaks that have killed more than 29,000 residents since the pandemic began in the U.S. …read more […]

The German government plans to terminate its contract with the country’s accounting watchdog after payments company Wirecard filed for insolvency last week in one of Germany’s biggest fraud scandals, a government official said on Sunday. Bild am Sonntag newspaper reported earlier on Sunday that the Justice and Finance Ministries would on Monday cut ties with the Financial Reporting Enforcement Panel (FREP), a quasi-private entity that supervises the financial statements of listed firms. “We have reached an agreement with the Finance Ministry to terminate the contract,” said the Justice Ministry official, who declined to be named or give further …read more […]

A federal court ordered the discharge of student loans under an Obama-era borrower defense rule for the time on the same day that a vote to override President Trump’s veto on the same rule failed in the House. …read more […]

US regulators may start tests this week as Boeing bids to clear a milestone for the crisis-hit aircraft. …read more […]

The Trump administration’s visa restrictions on high-skilled workers employed predominantly in the tech sector could hold back recovery from the coronavirus-induced recession, experts say. …read more […]

The analysts covering Inovio Pharmaceuticals, Inc. (NASDAQ:INO) delivered a dose of negativity to shareholders today… …read more […]

(Bloomberg) — Perhaps the most challenging riddle for investors in the pandemic is whether another centuries-old scourge is going to return.Inflation can wreck even the safest portfolio by eroding the value of investments for decades. But you would be hard pressed to find anyone among the younger generation of investors, within developed markets at least, who has faced it in any meaningful way. The last major episode was back in the 1970s and ’80s, and inflation has all but disappeared since the 2008 financial crisis.But the pandemic has changed the world so dramatically that Wall Street’s heavyweights from Pacific Investment …read more […]

“Staggeringly dumb.” That’s the latest insult Elon Musk threw at Nikola Motors (NKLA), which has rocketed a crazy 500%+ since April. Love him or hate him, no one denies Musk is a genius. He built Tesla (TSLA)—easily the world’s most innovative car company—from scratch. When he’s not running Tesla, he works a “side job” as a rocket scientist for […] …read more […]

(Bloomberg) — Iraq is reassessing contracts to pump crude at fields where production costs are high as it tries to contain expenses while curbing output, the oil minister said, according to a report on Sunday in Al-Sabah newspaper.OPEC’s second-biggest producer has an interest in cooperating with other global suppliers in reducing output to prop up crude prices, Oil Minister Ihsan Abdul Jabbar said in an interview with state-run Al-Sabah. The ministry is reviewing some of its contracts and may try to amend those with high costs, he said, without giving additional details.Iraq, a long-time laggard in meeting output cuts that …read more […]

(Bloomberg) — European stocks are entering the second half of the year on a strong footing.Even after three straight months of gains, a growing number of strategists and investors are turning bullish on the region’s equities. Helping sentiment are reports pointing to an economic bounce, unprecedented stimulus measures and optimism that easing lockdown measures won’t lead to a second wave of coronavirus infections.That’s building a case for European equities to continue a rare outperformance over peers in the U.S., where infections are on the rise in several states. Both the Stoxx Europe 600 Index and the Euro Stoxx 50 Index …read more […]

The rise in infections is driving up the chances of additional fiscal and monetary policy stimulus, and this is bullish for gold. …read more […]