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…

Read More >>

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…

Read More >>

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….

Read More >>

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…

Read More >>

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…

Read More >>

London’s Underwriters Adapt to Work from Home as Enterprise Shifts Online

London’s Underwriters Adapt to Work from Home as Enterprise Shifts Online
March 30, 2020

Thousands of London’s underwriters took their fountain pens and stamps home last week, which they utilize to sign insurance contracts; however, they won’t need them. Working at home because of the coronavirus shutdown, they’ve deserted the conventional tools of their business and are turning to email and other digital systems to agree on terms with the brokers who put business their way. It’s a huge shift from a typical day…

Read More >>

Emirates Reverses Decisosn to Cancel Passenger Flights

Emirates Reverses Decisosn to Cancel Passenger Flights
March 23, 2020

Dubai carrier Emirates reversed Sunday its decision to cancel all passenger flights, shortly after it stated it would pause operations from March 25 amid the novel coronavirus pandemic. The airline stated it “received requests from governments and customers to support the repatriation of travelers” and will proceed with operating passenger flights to 13 destinations, down from its standard 159. Emirates will continue to fly to the U.K., Switzerland, Hong Kong, Thailand,…

Read More >>

Ted Baker’s 38% of RETAIL Sales Dented Due to Coronavirus Pandemic

Ted Baker’s 38% of RETAIL Sales Dented Due to Coronavirus Pandemic
March 20, 2020

Troubled vogue retailer Ted Baker stated Friday it has closed businesses that accounted for some 38% of its international retail sales in 2020 due to the coronavirus pandemic. It has shut 197 retail outlets and concessions out of 416 locations worldwide with full closure in the U.S., Canada, Spain, France, Germany, Portugal and Belgium. In other markets, the retailer stated it was going through reduced trading hours; however, it added…

Read More >>

Abbot Wins FDA Approval for New Coronavirus Testing Kit

Abbot Wins FDA Approval for New Coronavirus Testing Kit
March 19, 2020

The U.S. Food and Drug Administration (FDA) Wednesday granted Abbott Laboratories approval to sell a test for the novel coronavirus, as more firms start producing much-needed diagnostics for the pathogen that has ignited a global pandemic. The tests will help meet a significant U.S. shortfall of diagnostic capabilities that has severely limited the nation’s ability to track the spread of COVID-19. The rise in U.S. cases of the novel coronavirus,…

Read More >>

EnCap Withdraws Stakes in U.S. Shale as Market Situation Worsens

EnCap Withdraws Stakes in U.S. Shale as Market Situation Worsens
March 16, 2020

Energy investor EnCap Investments withdrew a stake in the U.S. shale business this month. The $2.5 billion sale of oil producer Felix Energy to competitor WPX Energy, reaching a contract at a time when energy mergers have all but dried up. EnCap’s big payday, 153 million WPX shares worth $1.6 billion-plus $900 million in cash, proved short-lived as tanking oil and stock markets shed about two-thirds off the worth of…

Read More >>