Australia’s Morrison says reopening plan could restore 850,000 jobs Jamie Smyth in Sydney Australia’s federal and state governments agreed a three-step plan on Friday to achieve a Covid-19 safe economy by July, which focuses on a phased reopening of business, recreation and social gatherings. Scott Morrison, Australia’s prime minister, said the plan to reopen the
Month: May 2020
AbbVie’s (ABBV) acquisition of Allergan has entered the final stretch, after the FTC (federal trading commission) gave its consent for the deal to go ahead. With approval from the Irish High Court the final hurdle left, following Wednesday’s hearing, the transaction should come to a close. Apprehension surrounding the acquisition’s clearance by the FTC, concerned
Pedestrians wearing face masks walk past a boarded up Coach store in SoHo amid the coronavirus outbreak on May 3, 2020 in New York City. Liao Pan | China News Service | Getty Images April’s jobs report will be horrific, and with the worst job losses ever, it should provide a critical look into the
via blogmaverick I wanted to get an understanding of what opening meant to businesses around Dallas. Were they opening? What precautions were they taking? Were employees in safe environments? And bigger picture, I wanted to know if these are places that I would feel safe taking my family to. So I hired a company that specialized
CHICAGO, ILLINOIS – MAY 07: A closed sign hangs in the window of a Neiman Marcus store that has been … [+] shuttered by the COVID-19 pandemic on May 07, 2020 in Chicago, Illinois. Neiman Marcus filed for bankruptcy today, making it the first major retailer to seek bankruptcy protection since the economic collapse brought
New Yorkers giving thanks to all the frontline workers on April 4th, 2020. Adam Jeffery | CNBC New York residents struggling amid the coronavirus pandemic can’t be evicted by their landlords until at least Aug. 20, Gov. Andrew Cuomo said Thursday. Cuomo’s announcement extends the state’s previous moratorium on evictions, which lasted only through June. “I don’t
A collapse in global ride-sharing demand was offset by a surge in food delivery, Uber said, as the company reported stronger-than-anticipated revenues for its first quarter even while its losses ballooned to almost $3bn. The company’s loss of $2.9bn for the quarter is an almost 200 per cent increase year-on-year. It attributed the loss to
Since Orion Advisor Services launched its direct indexing tool two years ago, more than half of the 70 RIA clients using it have asked Chris Romano, the firm’s quantitative portfolio risk manager, the same question: Can we offer this to our smaller clients? Until now, Romano’s answer has been no. As long as clients have
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters With one-third of S&P 500 companies declining to provide guidance, picking winners and losers has become a very delicate business. How
Getty The Internal Revenue Service has issued a series of questions and answers regarding the CARES Act coronavirus-related relief for retirement plans and Individual Retirement Accounts. That’s helpful as folks consider tapping these accounts in the economic downturn. As of April 17, Fidelity Investments found that 164,950 individuals (nearly 1 out of 100) covered under
Citi has hired Kroll Bond Rating Agency analyst Alice Cheng to help lead its Institutional Clients Group. Cheng, who spent the past six years as a rating analyst for Kroll’s public finance team, began her new role in April as a senior vice president of Citi’s Institutional Clients Group in New York covering its public
Amazon tribes appeal to the world for help to fight coronavirus Andres Schipani in São Paulo Amazonian indigenous groups on Wednesday slammed the “inaction” of governments in the face of coronavirus in the world’s largest tropical rainforest calling for donations to help them survive the pandemic. The Amazon Emergency Fund wants to raise $8m in
U.S. software gian Microsoft Corp. (MSFT) is reportedly in talks to buy Israeli cybersecurity company CyberX for an estimated $170 million. The deal is expected to be signed in June, Israeli financial news portal Calcalist reported without saying where it got the information from. To date, the company has raised $48 million from investors including
Spirit Airlines aircraft seen at Los Angeles International Airport. Alex Tai | SOPA Images | LightRocket via Getty Images Check out the companies making headlines after the bell. Lyft — The rideshare company’s stock soared 15% in extended trading after Lyft reported first-quarter earnings. The company reported 21.2 million active riders in the first quarter, a
by kafkagoeswest TLDR: we’re all sheep heading to the slaughter. What do you remember about March 23rd, 2020? If you’re on this sub, you remember the sky was falling, we were facing systemic collapse, and we were trading around 18,000 on the Dow Jones, under 2200 on the S&P. The chart looked like this: End
Rita Chraibi believes that our homes should connect us to nature and serve as cozy refuges from a … [+] harsh world. International Designers by Rita Chraibi Rita Chraibi is a Moroccan interior designer who has worked on projects in Europe, the Middle East and North Africa. Recently, her firm, International Designers, opened an office
A realtor, right, walks with potential home buyers as they tour the property of a home for sale in Sparland, Illinois. Daniel Acker | Bloomberg | Getty Images Homebuyers appear to be heading slowly back into the market, as the coronavirus-stricken economy begins to reopen. Total mortgage application volume rose 0.1% last week compared with
Boris Johnson will map out the UK’s phased exit from lockdown this weekend, with a two-pronged approach that will loosen some measures while tightening others, including tougher border controls. The news came as the UK’s death toll from coronavirus passed 30,000. The Department of Health said 30,076 people had died from coronavirus, an increase of
Edward Jones is suing an advisor who left to join rival LPL Financial, accusing him of breaching non-solicitation agreements by enticing the “majority” of his clients to move to his new employer. The lawsuit, filed in federal court in Missouri May 1, marks the latest effort of a big brokerage firm to enforce former employees’
For every luxury brand, class and sophistication remain key attributes that make them different from other run-of-the-mill brands. The customers of luxury products generally remain very sensitive to the delicate aspects of products. In recent years, blockchain technology has emerged as a solution for serving this clientele. With an estimated market value of $3 trillion,
Naguib Sawiris, billionaire and chairman of Orascom Investment Holding. Sima Diab | Bloomberg | Getty Images Egyptian billionaire Naguib Sawiris says he would buy airlines, going against fellow billionaire investor Warren Buffett, who announced that Berkshire Hathaway sold all its airline stocks at the firm’s annual meeting on Saturday. Sawiris, chairman and CEO of Orascom Investment
Illinois backed away from a Wednesday pricing of $1.2 billion in one-year general obligation certificates, moving the competitive sale to the day-to-day calendar as fiscal headwinds threaten to impose steep yield penalties. “They need the money but at what price?” said Brian Battle, director of trading at Performance Trust Capital Partners. “There’s going to be
Amazon announces death of employee from controversial Staten Island facility Dave Lee in San Francisco A worker at an Amazon facility in Staten Island, New York, has died from coronavirus, the company has confirmed, bringing to three the total number of its employees killed by Covid-19. The Staten Island facility — known to staff as
COVID-19 has provided opportunity for a number of healthcare companies to take the baton and run with it. One of the names to force its way into public consciousness has been vaccine specialist Novavax (NVAX). The company was quick off the mark to begin developing a vaccine and has positioned itself at the forefront of
Barbie dolls for sale at a Target store. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Walt Disney — The entertainment giant’s stock was down 2% in extended trading after the company reported its second-quarter financial results. Disney reported a 58% drop in sales from parks and cruises, which was the
via rushlimbaugh RUSH: This is Martin in Cadillac, Michigan. Martin, I’m glad you called. It’s great to have you here with us, sir. Hello. CALLER: Rush, dittos and prayers to you for a full recovery. Thank you for having me on the show. RUSH: You bet, sir. Thank you. CALLER: And thank you for speaking the
Simon Property Group SPG yesterday posted news on its website that the mall operator had reopened 59 properties, with plans to have another 18 ready again for shoppers within the next week “with many more to follow.” Business hours at the malls located in Alaska, Arkansas, Georgia, Indiana, Mississippi, Missouri, Oklahoma, South Carolina, Tennessee, Texas,
WeWork cofounder and former CEO Adam Neumann, who once called his relationship with SoftBank’s Masa Son “beautiful”, is now suing the Japanese conglomerate — and his language has changed dramatically. In the lawsuit, Neumann accuses SoftBank of backing out of a key provision of its nearly $10 billion bailout of the coworking company, which SoftBank
FT premium subscribers can click here to receive Market Forces every day by email. Investors are watching the tentative reopening steps being taken by countries and US states with a brewing sense of optimism. Oil prices have recorded their fifth straight day of gains, sending Brent crude above $31 a barrel for the first time
Waves of tech-enabled disruption over the last decade still couldn’t have prepared financial planning for the level of change that’s been compressed into the last few months. The impact of the coronavirus has been so swift and broad across the global economy, it’s hard to say what lasting changes will come to planning and financial