Finance

by | May 04, 2020 | 16:30

The latest index level was the lowest since IHS Markit launched its survey in June 1997, plummeting far below the 50 mark that separates growth from contraction. There was a hint of positivity when looking at firms' 12-month outlooks, with sentiment towards future activity rebounding from March's record low, he said.

by | May 04, 2020 | 13:12

Airline stocks have been hard hit by the near collapse in USA travel demand amid the coronavirus crisis. USA airlines have had to cut hundreds of thousands of flights and park thousands of planes as travel demand has fallen by about 95%. Berkshire's cash stake ended the quarter at a record US$137.3 billion, though Mr Buffett said "we're willing to do something very big", perhaps a US$30 billion to US$50 billion transaction.

by | May 04, 2020 | 10:08

One worker from each plant has died. Cargill said it completed a deep cleaning during the closure. Spokesman Michael Hughes said the union was exploring legal action to make sure the plant remained closed. "There are processes in place to be able to deal with these disagreements and hopefully to be able to get food production and labour production rolling again".

by | May 04, 2020 | 05:40

Despite the downturn, the conglomorate's cash pile swelled to $137bn. "I think we're very, very fortunate as a country to have somebody at 79 years of age, appears be able to work 24-hours a day and keep a good humor about him and communicate in a very, very, straightforward matter about fairly complex subjects and tell you when he knows something and when he doesn't know something".

by | May 04, 2020 | 05:25

An additional 13 weeks of benefits is available to individuals who have exhausted their regular state Unemployment Insurance claim with a benefit year that ended on or after July 1, 2019. PUA provides up to 39 weeks of benefits to qualifying individuals who are otherwise able to work and available for work within the meaning of applicable state law, except that they are unemployed, partially unemployed, or unable or unavailable to work due to COVID-19 related reasons, as defined in the CARES ...

by | May 04, 2020 | 00:28

The meeting was virtual for the first time because of the pandemic, without shareholders in attendance, and streamed by Yahoo Finance. The annual meeting began several hours after Berkshire reported a record US$49.75 billion (RM213.5 billion) first-quarter net loss, reflecting huge unrealized losses on common stock holdings such as Bank of America Corp and Apple Inc during the market meltdown.

by | May 03, 2020 | 22:19

Democrats on the panel had said the company might have given lawmakers false information past year about whether it used the data to launch competing products, Politico is reporting. While testifying before a subcommittee past year, Amazon general counsel Nate Sutton said the company did not use seller data to compete with them, the letter noted.

by | May 03, 2020 | 22:14

Starting Monday, non-emergency surgeries can resume and other specialists like dentists, social workers, and physiotherapists can go back to work, as long as they follow health rules put in place by their professional bodies. Hinshaw said. The second stage of the relaunch, which does not have a set date, will allow more businesses to open, including tanning and aesthetics services and movie theatres.

by | May 03, 2020 | 21:24

Elon Musk called the coronavirus induced shelter-in-place orders in the San Francisco Bay Area where he has a factory "fascist" actions that are stripping people of their freedom. If Tesla can limit its losses, or even continue its profit streak and outperform legacy automakers, it will be in a stronger position to take sales from rivals weakened by the coronavirus disruption.

by | May 03, 2020 | 19:59

President Vladimir Putin has ordered the restrictive measures, called non-working days, to continue until May 11 when the country finishes celebrating the Labour Day and Victory Day holidays. Still, the virus is spreading more quickly now in Russia's regions - where hospital facilities are far worse than in the capital and where medics have been complaining they don't have the masks and protective clothing to keep them safe.

by | May 03, 2020 | 17:45

Sara Nelson, global president of the Association of Flight Attendants union, praised the carriers adopting the requirements and added "absent federal action, we need every airline to require passengers wear face coverings to keep everyone safe in aviation".

by | May 03, 2020 | 17:04

In a trial at a restaurant in the city of Arnhem, McDonald's has been looking for ways to maintain social distancing when the coronavirus lockdown is relaxed. The COVID-19 pandemic has altered the way consumers behave, and as a result, McDonald's ( MCD ) is attempting to change the way it operates by reportedly testing a new kind of restaurant focusing on social distancing and safety in the Netherlands.

by | May 03, 2020 | 15:48

Recently, the company said that it is planning to slash the price of the standard Tesla MIC Model 3. This marks the second time this year that Tesla has slashed the price for its standard range Model 3 sedan in China. Aside from the price cut, Tesla is also planning to introduce improvements to its Gigafactory 3 in China. Going forward, CEO Elon Musk said he wants to see Model and production too start at the plant in ShanghaiBut surely the most flexible incentives prevail over the ...

by | May 03, 2020 | 11:06

The conglomerate had held sizeable positions in the airlines , including an 11-percent stake in Delta Air Lines, 10 percent of American Airlines, 10 percent of Southwest Airlines and nine percent of United Airlines at the end of 2019, according to its annual report and company filings.

by | May 03, 2020 | 05:29

Demand in the U.S. is reported to drop an estimated 9%, while the European Union's demand is expected to fall 11%. Despite supply chain disruptions that have paused or delayed deployment in several key regions this year, photovoltaics and wind are on track to help lift renewable electricity generation by 5% in 2020, aided by higher output from hydropower, IEA's Global Energy Review 2020 found.

by | May 03, 2020 | 00:26

A year earlier, net earnings totalled US$21.66 billion, or US$13,209 per share. Buffett had predicted that a 2018 accounting rule would create "wild and capricious swings" in the company's reported profits or losses . Louis. Berkshire said it wrote down the value of its equity investments by a whopping $54.5 billion. The shift reflected $54.5 billion in investment losses, compared to a $15.5 billion gain in the same period previous year.

by | May 02, 2020 | 13:11

And on Wednesday, the Trump administration's trade office for the first time added five of Amazon's overseas operations to its list of "notorious markets" where pirated goods are sold. Amazon and other large web retailers have a sense of duty because they're so ingrained in people's lives as a result of the pandemic, said Martin Garner of CCS Insight.

by | May 02, 2020 | 10:42

Musk continued to rail against government shutdowns amid the COVID-19 pandemic and added that he thought Tesla's stock price was "too high", which appeared to trigger a sell-off on Friday morning. Many have taken to Twitter to address Musk's posts, or roast the CEO, questioning if he "is okay". "Now give people back their FREEDOM", Musk tweeted a few minutes later, proceeding to quote lyrics from the national anthem in random order.

by | May 02, 2020 | 10:07

Crude oil delivery for June jumped Rs 176, or 11.15 percent, to Rs 1,755 per barrel with a business volume of 1,263 lots. "The production cuts are finally kicking in", said Craig Erlam, analyst at brokerage OANDA. US inventories totaled 527.6 million barrels, up 10 percent from the five-year average for this time of year. West Texas Intermediate for June delivery rose $3.78 to settle at $18.84 a barrel in NY.

by | May 02, 2020 | 03:24

The adjustments to the Main Street program announced Thursday might encompass some of those firms. New and priority loans have a minimum size of $500,000. It has suffered the sharpest plunge in activity since the 2007-2009 Great Recession, as authorities across the country shut down large swaths of industry and commerce to slow the spread of the novel coronavirus.

by | May 02, 2020 | 02:38

In its new jobless claim release, the Department of Labor said the unadjusted insured unemployment rate stood at 12.2 percent in the week ending April 18 as the number of people claiming unemployment insurance benefits stood at 17.7 million.

by | May 02, 2020 | 01:42

The Washington Post, citing two people with knowledge of internal discussions, reported on Thursday that some officials had discussed the idea of cancelling some of the massive USA debt held by China as a way to strike at Beijing for perceived shortfalls in its candidness on the COVID-19 pandemic .

by | May 02, 2020 | 00:29

Amazon's profit fell 29 per cent in the first quarter as its costs for shipping millions of packages to home-bound customers rose. But these aren't normal circumstances. The company forecast operating income in a range from a loss of $1.5 billion to a profit of $1.5 billion, versus a $3.1 billion profit in the same period a year prior.

by | May 01, 2020 | 15:56

A number of Ryanair's aircraft bases will be closed until passenger numbers recover. Ryanair said it now expects that it will take until summer 2022 "at the very earliest" for passenger demand and pricing to return to 2019 levels, and warned that it may have to cut up to 3,000 jobs, mainly in the pilot and cabin crew sectors.

by | May 01, 2020 | 14:41

The IRS is sending out payments to individuals who filed their taxes in 2018 and 2019. "IRS teams worked long hours to deliver Get My Payment in record time, and we will continue to make improvements to help Americans", said IRS Commissioner Chuck Rettig.