Month: July 2020

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Seth Klarman Says Fed Is Infantilizing Investors in ‘Surreal’ Market

July 30, 2020 admin Comments Off on Seth Klarman Says Fed Is Infantilizing Investors in ‘Surreal’ Market

(Bloomberg) — Seth Klarman said the Federal Reserve is treating investors like children and is helping create bizarre market conditions that are unsupported by economic data.“Surreal doesn’t even begin to describe this moment,” Klarman said in a letter to investors reviewed by Bloomberg News. Investor “psychology is surprisingly ebullient even though business fundamentals are often dreadful,” he added.The culprit is the Fed, Klarman said in the 16-page letter.“Investors are being infantilized by the relentless Federal Reserve activity,” said Klarman, who runs hedge fund firm Baupost Group. “It’s as if the Fed considers them foolish children, unable to rationally set the …read more […]

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Exclusive: Exxon prepares spending, job cuts in last ditch move to save dividend

July 30, 2020 admin Comments Off on Exclusive: Exxon prepares spending, job cuts in last ditch move to save dividend

Exxon Mobil Corp is preparing deep spending and job cuts, according to people familiar with the matter, as it fights to preserve a 8% shareholder dividend with a multi-billion-dollar quarterly loss looming. The largest U.S. oil company slashed this year’s budget by 30% in April, but Chief Executive Darren Woods’s turnaround through rebounding demand and increased asset sales have not panned out and losses are climbing. On Friday, Exxon is expected to report a $2.63 billion second-quarter loss, according to Refinitiv Eikon data, on sharply lower prices and weaker production, the first back-to-back quarterly losses in at …read more […]

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Exclusive: Exxon prepares spending, job cuts in last ditch move to save dividend

July 30, 2020 admin Comments Off on Exclusive: Exxon prepares spending, job cuts in last ditch move to save dividend

Exxon Mobil Corp is preparing deep spending and job cuts, according to people familiar with the matter, as it fights to preserve a 8% shareholder dividend with a multi-billion-dollar quarterly loss looming. The largest U.S. oil company slashed this year’s budget by 30% in April, but Chief Executive Darren Woods’s turnaround through rebounding demand and increased asset sales have not panned out and losses are climbing. On Friday, Exxon is expected to report a $2.63 billion second-quarter loss, according to Refinitiv Eikon data, on sharply lower prices and weaker production, the first back-to-back quarterly losses in at least …read more […]

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Walmart Is Eliminating Hundreds of Corporate Jobs

July 30, 2020 admin Comments Off on Walmart Is Eliminating Hundreds of Corporate Jobs

(Bloomberg) — Walmart Inc. has eliminated hundreds of corporate positions, according to people familiar with the matter, as retailers around the country slim down at the back-office level.The world’s biggest retailer has laid off workers in departments including store planning, logistics and real estate, said the people, who asked not to be identified because they aren’t authorized to speak publicly.Some of those affected were told in person, while others learned their fate over a Zoom call, according to the people. Conversations with those impacted will continue throughout the week. Those who lose their jobs will be paid until the end …read more […]

Newsmakers

Ryerson University Chooses NexTech’s (OTC: NEXCF) InfernoAR for Augmented Reality Remote Learning Solutions

July 30, 2020 admin Comments Off on Ryerson University Chooses NexTech’s (OTC: NEXCF) InfernoAR for Augmented Reality Remote Learning Solutions

VANCOUVER, British Columbia, Jul 30, 2020  — Paradigm Shift To Remote Education and AR Accelerating Ryerson enjoys first-mover advantage by launching RALE – the Ryerson Augmented Learning Experience platform – to fill the New Paradigm for […]