Markets May Be Underestimating Likelihood Of Early Emergence Of COVID-19 Vaccine: Goldman Sachs
Goldman Sachs said the early development of a virus vaccine could push investors into cyclicals, away from tech stocks.
Bank of England Keeps Rates Unchanged At Record Low, Warns Of Slower Recovery
The central bank expects the U.K. economy to shrink by 9.5% this year
Wednesday’s Stock Market Close: US Equities Rise As White House, Democrats Make Some Progress On Stimulus Bill
U.S. stocks rose on Wednesday although ADP private payroll report showed small growth.
Rocket, Quicken Loans Parent, Prepares Big IPO, Set To Raise $3.3 Billion
Companies like Quicken Loans have stepped into mortgage originations as banks moved out.
Blackstone To Acquire Majority Stake In Ancestry.com In $4.7 Billion Deal
Ancestry, which operates in more than 30 countries, generates more than $1 billion in annual revenue.
U.S. Treasury To Offer Record $112 Billion In Debt Next Week
The department said it will offer a record $112 billion of Treasury securities next week to refund about $49.5 billion of privately-held Treasury notes and bonds maturing on Aug. 15, 2020.
Facebook’s Instagram Launches Reels Video Tool To Compete With TikTok
Facebook’s Instagram unit has launched a new video tool – Instagram Reels – that will reportedly compete directly with TikTok, which is facing pressure to sell its U.S. assets to Microsoft or another company.
Justice Department Seeks Billions In Penalties From OxyContin Maker Purdue Pharma
Purdue Pharma filed for bankruptcy last year and faces more than 2,000 lawsuits over opioid crisis
Wednesday’s Stock Market Open: US Equities Rise Despite Slowdown In Private Payroll Growth, Oil Jumps
U.S. stocks rose on Wednesday as the White House and Democrats keep talking over new stimulus
Virgin Australia Airlines Cuts 3,000 Jobs, Reduces Size Of Fleet, Discontinues TigerAir Brand
The airline, which is controlled by Bain Capital, has slashed 3,000 jobs.
More Than 5 Million Americans May Be Insolvent By End Of August If Unemployment Benefits Reduced
The money crunch is a sure thing if the government scraps the $600 enhanced jobless benefit.
Tuesday’s Stock Market Close: US Equities Rise As Washington Lawmakers Continue To Debate New Stimulus Package
U.S. stocks rose on Tuesday as traders await progress on new COVID-19 relief bill.
Gold Hits $2,000, All-Time High As Worries Over Global Economy Swirl
Gold has been one of the best performing asset classes this year
SEC Probing Loan Disclosure, Unusual Stock Trading Activity At Eastman Kodak
The company's shares underwent a huge surge in both price and trading volume last week in conjunction with a government loan.
EU Probing Google’s Proposed Takeover Of Fitbit Over Data, Competition Concerns
The EU is concerned that Google’s takeover of Fitbit will harm competition.
Management Shakeup At Struggling Ford: Jim Farley Named New CEO
Hackett’s tenure as CEO had been marked by troubled product launches, weak stock performance
Tuesday’s Stock Market Open: US Equities Slip As Traders Look To Stimulus Progress
U.S. stocks edged lower on Tuesday as traders consolidated gains from Monday’s rally.
Monday’s Stock Market Close: US Equities Climb, Nasdaq Jumps To Record Closing High, Yields Surge
U.S. stocks rose on Monday as Microsoft pushed Nasdaq to record highs
Clorox Names Female CEO, As Fortune 500 Companies Sets New High For Women Bosses
Linda Rendle, 42, will take over as Clorox CEO in mid-September
John Hume, Northern Ireland Political Icon, Nobel Peace Prize Recipient, Dies At 83
Hume played key role in peace talks that led to the 1998 Good Friday Agreement.
Electric Truck Maker Lordstown Motors To Go Public Via Merger
Lordstown Motors took over the former GM plant in Lordstown, Ohio, where GM shut down its Chevy Cruze line, drawing President Trump's ire.
Monday’s Stock Market Open: US Equities Rise As Washington Lawmakers Wrangle Over New Stimulus Bill
U.S. Secretary of State Mike Pompeo warns that the Trump administration will soon impose measures against “a broad array” of Chinese-owned software.
Marathon To Sell Its Speedway Gas Stations To Japanese Parent Of 7-Eleven For $21 Billion
Seven & i Holdings said the $21 billion deal will add about 3,900 stores to the 9,800 locations currently operated by its 7-Eleven unit.
HSBC's After-Tax First Half Profit Drops 69%: Job Cuts, Restructuring Accelerated
Financial giant's earnings plunge to $3.1 billion form $10 billion a year ago; 35,000 workers to be laid off.
Friday’s Stock Market Close: US Equities Finish Higher As Dow Stages Rebound, Apple Boosts Nasdaq
US stocks were higher on Friday after blowout results from Amazon, Facebook, Google, Apple.
Raytheon Sells Military GPS Business, After Cutting 8,000 Aerospace Jobs
The coronavirus’s impact on plane travel “has proven to be a lot worse” than what Raytheon originally expected, its CEO said.
Warren Buffett Keeps Buying Bank Of America Shares Despite Banking Industry Woes
The billionaire has bought so many Bank Of America shares that it’s now Berkshire-Hathaway’s second largest equity holding
More Bad News For Big Oil: Exxon-Mobil, Chevron Post Huge Second Quarter Losses
COVID-19 pandemic continues to decimate global energy demand.
Wells Fargo Forced To Unload Numerous Assets During Spring To Stay Under Fed’s Asset Cap Limits
As it issued more loans in spring the banking company had to sell off other assets to abide by Fed rules set after 2016 scandal.
Dutch Airline KLM To Cut Up To 5,000 Jobs By End Of 2021
After posting a huge first-half loss, KLM is accelerating its restructuring
