Month: June 2020

Visa (V) has indicated a solid uptick in consumer spending from April to May, as it continues to actively monitor the Covid-19 impact globally.Most notably, in May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April. Meanwhile debit grew 12% and credit declined 21% year-over-year in May, a 17 ppt and 9 ppt improvement over April, respectively.“The continued distribution of Economic Impact Payments and the relaxing of shelter-in-place restrictions in a number of states are driving these trends” Visa stated.However, recovery in international markets in which Visa processes the majority of transactions lagged the …read more […]

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Shares in Gilead Sciences (GILD) traded down 3.4% on Monday after the company announced topline results from its Phase 3 SIMPLE trial in hospitalized patients with moderate Covid-19 pneumonia.This open-label study evaluated 5-day and 10-day courses of the investigational antiviral remdesivir plus standard of care, versus standard of care alone. The study demonstrated that patients in the 5-day remdesivir treatment group were 65% more likely to have clinical improvement at Day 11 compared with those in the standard of care group (OR 1.65 [95% CI 1.09-2.48]; p=0.017).The odds of improvement in clinical status with the 10-day treatment course of remdesivir …read more […]

(Bloomberg) — NetEase Inc. has started taking investor orders for a listing in Hong Kong that could raise as much as $2.8 billion, which could be the world’s second-largest initial share sale this year.The company plans to sell 171 million new shares in its second listing before exercising the over-allotment option, according to terms for the deal seen by Bloomberg. The offering by the Nasdaq-listed Chinese internet company is already oversubscribed, people familiar with the matter said. It has set the maximum offer price at HK$126 ($16.25) a share, meaning it could raise as much as $2.8 billion.NetEase’s listing is …read more […]

Argo, founded in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by VW and Ford Motor Co, which made an initial investment in Argo shortly after it was founded. Details of the VW investment, which does not include an agreement to purchase $500 million worth of Argo stock from Ford, was announced last July. …read more […]

“While overstaffing isn’t tied 100% to capacity levels, it would be fair to assume that we are overstaffed in many areas by a similar percentage,” Southwest said in the documents. The maximum leave period varies, and the airline said it “may return employees to work earlier if needed for operational needs.” …read more […]

Oil prices crawled higher on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week. Brent crude futures rose 0.4%, or 17 cents, to $38.49 a barrel as of 0220 GMT. West Texas Intermediate (WTI) crude futures traded in a 38-cent range on either side of Monday’s close, and last traded unchanged at $35.44 a barrel. …read more […]