Wall Street To Ask Disney Questions on Coronavirus Impact

Wall Street To Ask Disney Questions on Coronavirus Impact
May 4, 2020

Walt Disney’s acquisitions race that included swallowing much of Rupert Murdoch’s 21st Century Fox in 2019, and a reputation for operational excellence, turned the company into the world’s strongest entertainment machine. That girth has now made it the most vulnerable amongst media firms through the global coronavirus pandemic. On Tuesday, Wall Street will assess the level of injury and look for indicators of a bottom. With sports leagues dormant, Disney’s…

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Silicon Valley Giants Clash Upon Views on Coronavirus Lockdown

Silicon Valley Giants Clash Upon Views on Coronavirus Lockdown
April 30, 2020

Silicon Valley giants Elon Musk and Mark Zuckerberg offered dueling views on lockdown measures designed to contain the spread of the coronavirus Wednesday, with Facebook’s Zuckerberg applauding the measures while Tesla’s Musk condemned them as anti-democratic. Musk, who has often made outspoken and even inflammatory comments on conference calls and on Twitter, said in the feedback to analysts on Tesla’s earnings call that it was “fascist” to say people cannot…

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TikTok, Gates Foundation Donates $10 Billion Each to Support Coronavirus Aid Efforts in Africa

TikTok, Gates Foundation Donates $10 Billion Each to Support Coronavirus Aid Efforts in Africa
April 29, 2020

The social media platform TikTok and the philanthropic Gates Foundation donated $10 million each Wednesday to the vaccine alliance GAVI to help finance efforts to tackle the COVID-19 pandemic in Africa. GAVI stated the funds would be used to distribute and deploy any new vaccines against COVID-19 once they’re developed, trialed, and licensed. It would help prevent “a potentially catastrophic impact on immunization programs throughout the growing world,” GAVI Chief Govt…

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Apple and Microsoft Push Wall Street Rally Higher

Apple Microsoft Push Wall Street Rally Higher
April 24, 2020

Wall Street rallied Friday, led larger by Apple and Microsoft, as investors finished a turbulent week of trading and a few states ready to ease coronavirus-related lockdowns. Apple and Microsoft climbed more than 1%, lifting the S&P 500 more than any other firm. The two tech juggernauts are on tap to record their March-quarter results subsequent week, giving investors a glimpse at how the pandemic has affected their global businesses….

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Stocks Halt Before Vital EU Meeting on COVID-19 Relief Package

Stocks Halt Before Vital EU Meeting on COVID-19 Relief Package
April 23, 2020

Caution gripped markets Thursday, with stocks falling before a crucial Eurogroup meeting to discuss joint stimulus measures, offsetting optimism from a fresh round of U.S. coronavirus aid and recovery in oil prices. The U.S. Congress seemed on course to approve almost $500 billion more in aid to help small companies, while European Union leaders make another attempt at agreeing on a joint recovery fund. European shares skidded 0.4%, and U.S….

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India’s TVS Motor Acquires Britain’s Norton Motorcycles

India’s TVS Motor Acquires Britain’s Norton Motorcycles
April 20, 2020

India’s third-largest motorbike producer TVS Motor has sealed a $20 million deal to acquired British brand Norton Motorcycles as part of a distressed sale. The all-cash transaction, which was declared Friday, will see the Indian firm take control of the 122-year-old Leicestershire model for 16 million pounds ($19.98 million) through one in all its overseas subsidiaries. It marks the latest swoop by an Asian firm on an iconic British brand after Jaguar…

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G20 to Suspend Debt Service Payments for World’s Poorest Countries

G20 to Suspend Debt Service Payments for World’s Poorest Countries
April 16, 2020

Finance delegates from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world’s poorest nations through the end of the year, a move quickly matched by a group of thousands of private creditors. The actions to freeze both principal repayments and interest funds will free up over $20 billion for the nations to spend on improving their health programs and fighting the coronavirus…

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Boeing Recruits Lazard, Evercore to Evaluate Government Grant or Private Loans

Boeing Recruits Lazard, Evercore to Evaluate Government Grant or Private Loans
April 13, 2020

Boeing has employed investment banks Lazard and Evercore to evaluate potential U.S. government help or private sector loans, a person briefed on the matter confirmed Friday. The largest U.S. plane manufacturer asked in March for at least $60 billion in U.S. government loan guarantees for itself and other American aerospace manufacturers to assist the embattled industry in withstanding a coronavirus-related cash drain. Boeing has noted that typically 70% of its…

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Luckin Coffee Sees Unprecedented Surge in Demand

Luckin Coffee Sees Unprecedented Surge in Demand
April 7, 2020

Luckin Coffee’s app has boost rocketed to become the second hottest in China as consumers rushed to say a free drink that it has long provided for downloading, worried the chain would possibly fall after it said much of its sales in 2019 were fabricated. The coffee chain’s app often ranks between the 70th and 100th hottest free app downloads for users of Apple’s iOS operating system in China, based…

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Amazon’s General Counsel Goes on Defense after Comments on Warehouse Protest Leader

Amazon’s General Counsel Goes on Defense after Comments on Warehouse Protest Leader
April 3, 2020

Amazon.com’s general counsel Thursday stated his emotions clouded his judgment when he wrote meeting notes in which he allegedly drafted a public relations strategy towards a protest organizer and questioned the employee’s intelligence. Amazon didn’t confirm the authenticity of the notes, which were from a daily assembly with the company’s CEO Jeff Bezos and the senior management team. David Zapolsky, Amazon’s secretary and prime lawyer, allegedly wrote that a worker…

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