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9,203 results 10/20/2020 20:59
Image source: F. Muhammad / Pixabay. By Vishwadha Chander. (Reuters) - Nearly 300,000 more people have died in the United States in 2020 during the coronavirus pandemic than expected based on historical trends, with about two-thirds of the deaths due to COVID-19 illnesses, according to a report released on Tuesday. The report from the U.S. Centers for Disease Control and Prevention (CDC) estimated that 299,028 more people died between Jan. 26 and Oct. 3 than the average numbers from past years would have indicated. The CDC did not provide specific explanations for the excess deaths but said it expects the deaths to include those related directly or indirectly to COVID-19. The agency defines excess deaths as the difference between the observed. 10/20/2020 19:33
Image: Donald Trump, Mitch McConnell, Nov. 6, 2019. Source: Official White House photo by Shealah Craighead. By Andrew Taylor. WASHINGTON (AP) — Washington negotiations on a huge COVID-19 relief bill took a modest step forward on Tuesday, though time is running out and Senate Majority Leader Mitch McConnell, President Donald Trump’s most powerful Senate ally, is pressing the White House against going forward. McConnell on Tuesday told fellow Republicans that he has warned the White House not to divide Republicans by sealing a lopsided $2 trillion relief deal with House Speaker Nancy Pelosi before the election — even as he publicly said he’d slate any such agreement for a vote. Pelosi’s office said talks with Treasury Secretary Steven Mnuchin. 10/20/2020 18:33
Image source: Snap. By Sheila Dang. (Reuters) - Snap Inc, owner of the single-view messaging app Snapchat, on Tuesday beat Wall Street's third-quarter forecasts for user growth and revenue as more people signed up to chat with friends and family during the coronavirus pandemic. Shares of Snap rose 18% to $33.85 in after-hours trading. Daily active users (DAUs), a widely watched metric by investors and advertisers, rose 18% year-over-year to 249 million in the quarter ended Sept. 30, the company said in a statement. 10/20/2020 17:29
Video source: Fox News YouTube channel. By Aamer Madhani and Colleen Long. WASHINGTON (AP) — President Donald Trump on Tuesday called on Attorney General William Barr to immediately launch an investigation of Democrat Joe Biden and his son Hunter, effectively demanding that the Justice Department muddy his political opponent and abandon its historic resistance to getting involved in elections. With just two weeks to go before Election Day, Trump for the first time explicitly called on Barr to investigate the Bidens and even pointed to the nearing Nov. 3 election as reason that Barr should not delay taking action. "We’ve got to get the attorney general to act," Trump said in an interview on "Fox & Friends." 10/20/2020 17:05
By Lisa Richwine and Ayanti Bera. (Reuters) - Netflix Inc on Tuesday reported fewer paid subscribers than Wall Street expected in the third quarter as streaming competition increased and live sports returned to television. The company said it added 2.2 million paid subscribers globally during the quarter that ended Sept. 30 compared with analysts' estimates of 3.4 million, according to IBES data from Refinitiv. Looking ahead, Netflix forecast it would bring in 6 million new subscribers around the globe, short of the 6.51 million that analysts expected. Shares of Netflix, one of the biggest gainers this year as people stayed home amid the pandemic, dropped nearly 6% to $494 in after-hours trading on Tuesday. Netflix had warned investors that 10/20/2020 16:59
Image: Five-day chart, S&P 500 Index. Source: Yahoo Finance. By Alex Veiga and Damian J. Troise. Stocks closed broadly higher Tuesday as Wall Street welcomed a batch of solid earnings reports from U.S. companies. The S&P 500 gained 0.5%, recouping some of its loss from a day earlier. Technology, communication and financial stocks powered most of the gains, while household goods makers fell. Overseas markets closed mixed. Treasury yields held steady. Traders bid up shares in several companies that reported quarterly results that were better than analysts expected, including Procter & Gamble, Regions Financial, Albertsons and Travelers. Others didn’t fare as well. Netflix shares fell in after-hours trading after the streaming service reported t. 10/20/2020 15:15
Image source: Intel. (Reuters) - Intel Corp’s $9 billion sale of its NAND memory chip unit will help the U.S. chip giant focus on its core business in higher-margin processors, Wall Street analysts said on Tuesday, after its deal with South Korea’s SK Hynix Inc. Intel, best known for making computer processors used in desktops and laptops, has been trying to focus more on its strengths, including the Optane memory business, which is smaller but lucrative as it taps more advanced technology. Exiting the NAND chips business will also help the chipmaker fend off the impact on profit from being in a cut-throat commodity memory market, where prices cycle through booms and busts. Cowen and Co analysts said the deal was critical for Intel as it wou. 10/20/2020 13:25
Image source: Logitech. By John Revill. ZURICH (Reuters) - Logitech International shares led Europe's gainers on Tuesday as the computer peripherals maker reported a big jump in second-quarter profit and again hiked its guidance amid a work-from-home boom. Its stock gained 15.8% in Switzerland today, the highest riser on the STOXX 600 index, and is trading up 16.4% on Nasdaq in early afternoon trading. The maker of keyboards, mice webcams and headsets said it was benefiting from a shift to working from home during the COVID-19 pandemic. It now expects annual sales to increase between 35% and 40% in constant currencies, up from its previous view for a 10% to 13% increase. For the year to the end of March it expects non-GAAP operating income of. 10/20/2020 13:07
Image source: Paul Brennan / Pixabay. By Lucia Mutikani. WASHINGTON (Reuters) - U.S. single-family homebuilding raced to a more than 13-year high in September, cementing the housing market’s status as the star of the economic recovery amid record-low mortgage rates and a migration to the suburbs and low-density areas in search of more room for home offices and schooling. The report from the Commerce Department on Tuesday also showed building permits and housing completions scaling levels last seen in 2007. 10/20/2020 11:50
Image: CEO Steven Mollenkopf. Source: Qualcomm. By Stephen Nellis. (Reuters) - Qualcomm Inc on Tuesday said it will produce chips for 5G telecommunications networking gear, marking the first entry by a major American technology company into a market dominated by European and Chinese firms. San Diego-based Qualcomm is already the largest supplier of chips for mobile phones, including the modem chips that connect handsets to newer 5G wireless data networks capable of faster speeds than LTE networks. But the market for the 5G base stations and other infrastructure purchased by telecommunications carriers has been dominated by players such as Nokia, Ericsson and, before the U.S. government moved to cut off its ability to secure semiconductors, Hu. 10/20/2020 10:27
Image source: Lockheed Martin. By Ankit Ajmera and Mike Stone. (Reuters) - U.S. weapons maker Lockheed Martin reported a better-than-expected third-quarter profit, helped by higher sales in its aeronautics unit which makes the F-35 fighter jet, and raised its full-year earnings forecast. The U.S. defense sector has fared better compared with other industries amid a slump in demand due to the coronavirus pandemic, as the government has continued to purchase weapons while also providing support to defense contractors to pay the salaries of highly skilled workers. Lockheed said deliveries of F-35 jets rose to 31 aircraft in the quarter ended Sept. 27, from 28 a year earlier. Earlier in the year, Lockheed warned of a possible delay in delivery of. 10/20/2020 10:11
Image source: Procter & Gamble. By Siddharth Cavale, Uday Sampath Kumar. (Reuters) - Procter & Gamble Co raised its annual sales and earnings forecasts on Tuesday, as households continued their coronavirus-driven cleaning sprees, pushing quarterly sales of the consumer goods giant's home care products as much as 30% higher. P&G’s shares, already up 14% this year, rose another 2% in early deals after the company released numbers that also showed strong gains in sales across most of its divisions. Net sales of home care products including brands such as Mr Clean rose by double-digits percentage in every region, P&G said, as consumers stocked up on anything they could get their hands on to potentially slow the spread of the virus. Grooming produ. 10/19/2020 21:02
By Rich McKay and Lisa Shumaker. (Reuters) - As Wisconsin battled one of the worst coronavirus surges in the United States, a judge on Monday reinstated an order by the administration of Governor Tony Evers limiting the size of indoor public gatherings at bars, restaurants and other venues. The Democratic governor’s emergency directive to stem new COVID-19 infections in the state put a 25% capacity limit on the number of people who may gather indoors until Nov. 6. 10/19/2020 20:39
Image source: Supreme Court of the United States. By Mark Sherman. WASHINGTON (AP) — The Supreme Court will allow Pennsylvania to count ballots received up to three days after the election, rejecting a Republican plea. The justices divided 4-4 Monday, an outcome that upholds a state Supreme Court ruling that allowed election officials to receive and count ballots until Nov. 6, even if they don’t have a clear postmark. Republicans, including President Donald Trump’s campaign, have opposed such an extension, arguing that it violates federal law that sets Election Day as the first Tuesday after the first Monday in November and that such a decision constitutionally belongs to lawmakers, not the courts. Chief Justice John Roberts joined with the t. 10/19/2020 19:11
Image: Nanjing Road, Shanghai. Source: Zhu Bing / Pixabay. By Joe McDonald. BEIJING (AP) — China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions. Growth in the world’s second-largest economy accelerated to 4.9% over a year earlier in the three months ending in September, up from the previous quarter’s 3.2%, official data showed Monday. Retail spending rebounded to above pre-virus levels for the first time and factory output rose, boosted by demand for exports of masks and other medical supplies. China is the only major economy that is expected to grow this year while activity in the United State. 10/19/2020 18:59
Image source: General Motors. By Joseph White. DETROIT (Reuters) - General Motors Co is expected to announce on Tuesday significant investments to expand production of electric vehicles at a factory in Spring Hill, Tennessee and potentially other sites. GM said in a statement Monday that it planned to make a "major U.S. manufacturing investment announcement" on Tuesday. 10/19/2020 18:00
Image: BMW 640i xDrive Gran Turismo. Source: BMW. FRANKFURT (Reuters) - BMW on Monday said rebounding markets helped the German carmaker to deliver higher-than-expected free cash flow in the automotive segment during the third quarter. Free cash flow amounted to 3.07 billion euros ($3.61 billion) in the third quarter, up from 714 million euros ($840.16 million) in the year-earlier period, the carmaker said late on Monday. “This was due in particular to a faster recovery in several markets, which led to higher sales growth,” BMW said in a preliminary earnings release which was published ahead of the company’s scheduled quarterly earnings on Nov. 4. An optimization of working capital and a reduction of fixed costs and capital expenditure had h. 10/19/2020 17:06
Image source: IBM. (Reuters) - International Business Machines Corp edged past Wall Street estimates for quarterly revenue on Monday, bolstered by higher demand for its cloud computing services from companies speeding up their digital shift due to the coronavirus pandemic. The results come just weeks after Big Blue surprised investors with its announcement of splitting itself into two public companies, placing big bets on cloud computing to drive its future growth. "We continue to see a very strong pattern in acceleration of our clients’ digital transformation ... 10/19/2020 13:29
Author’s note: This article reflects my interview with John Dean about his and Bob Altemeyer’s book, Authoritarian Nightmare: Trump and His Followers . I was unable to speak with other sources or people from the Trump or Biden camps, so this article is not intended to be a complete analysis of the extremely broad topic. Rather, I hope that readers will digest this thoroughly and, on whichever side of the aisle you may sit, feel the irrepressible urge to vote. I recently had the chance to speak with John W. Dean, former White House counsel for President Richard Nixon, who testified before Congress during the Watergate scandal and pleaded guilty to obstruction of justice. In January 2020, The Hill reported that Dean’s lengthy statement was a 10/19/2020 11:51
By Jennifer Peltz. NEW YORK (AP) — After entire nations were shut down during the first surge of the coronavirus earlier this year, some countries and U.S. states are trying more targeted measures as cases rise again around the world, especially in Europe and the Americas. New York’s new round of virus shutdowns zeroes in on individual neighborhoods, closing schools and businesses in hot spots measuring just a couple of square miles. Spanish officials limited travel to and from some parts of Madrid before restrictions were widened throughout the capital and some suburbs. Italian authorities have sometimes quarantined spots as small as a single building. While countries including Israel and the Czech Republic have reinstated nationwide closur.

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