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9,231 results 10/26/2020 19:43
Image: David Solomon, CEO, Goldman Sachs. NEW YORK (Reuters) - Goldman Sachs Group Inc attempted to cover up allegations of workplace sexual misconduct by the bank’s global head of litigation, a lawsuit filed on Monday in New York State Supreme Court claimed. The lawsuit was filed by Marla Crawford, a former associate general counsel at the bank, against Goldman Sachs, the bank’s General Counsel Karen Seymour and its Global Head of Litigation, Darrell Cafasso. The lawsuit claimed Cafasso used his position of power to "romantically prey upon a much younger and vulnerable female colleague.". 10/26/2020 19:01
Image: Caffe Trieste, San Francisco. Source: Howard Malone / Pixabay. By Michael R. Blood. LOS ANGELES (AP) — California’s financially battered restaurants filed government claims Monday to recover more than $100 million in fees for liquor and health permits and tourism charges that they say were assessed even though their businesses were shuttered or only partially operating under long-running coronavirus orders. Few industries have been hit as hard during the pandemic as restaurants, which in California were ordered closed, reopened, closed for a second time and then allowed to welcome customers again, though with restrictions. Those rules vary in the state’s 58 counties and have limited some eateries to takeout and delivery service or outd. 10/26/2020 18:38
Image: New AIG CEO Peter Zaffino. Source: By Suzanne Barlyn and Alwyn Scott. (Reuters) - Insurer American International Group Inc on Monday named President Peter Zaffino as chief executive officer, and said it plans to spin off its life and retirement business unit. AIG shares were up nearly 8% in extended trading. Zaffino, who succeeds Brian Duperreault, will take charge in March. Zaffino will be AIG’s seventh CEO since 2005. The insurer said it has yet to make a decision on how to execute the unit separation, saying the board has plans to establish two independent, market-leading companies. The life and retirement business accounted for 34% of AIG’s $49 billion in 2019 adjusted revenue, compared with 64% for its general insurance b. 10/26/2020 17:44
Image source: By Christopher Weber and Olga R. Rodriguez. LOS ANGELES (AP) — A fast-moving wildfire forced evacuation orders for 60,000 people in Southern California on Monday as powerful winds across the state prompted power to be cut to hundreds of thousands to prevent utility equipment from sparking new blazes. The smoky fire exploded in size to over 6 square miles within a few hours of breaking out around dawn in Orange County, south of Los Angeles. 10/26/2020 17:15
Image sources: Fiat Chrysler, PSA. By Foo Yun Chee and Giulio Piovaccari. BRUSSELS/MILAN (Reuters) - Fiat Chrysler and PSA are set to win EU approval for their $38 billion merger to create the world’s No.4 carmaker, people close to the matter said, as they strive to meet the industry’s dual challenges of funding cleaner vehicles and the global pandemic. The green light from the European Commission would formalize the creation of Stellantis, a carmaking group that could tap hefty profits from selling Ram pickup trucks and Jeep SUVs to U.S. drivers to fund the expensive development of zero-emission vehicles for sale in Europe and China. The all-share merger announced late last year would unite brands such as Fiat, Jeep, Dodge, Ram and Maserati 10/26/2020 14:36
Image source: Hyundai Motor. By Heekyong Yang and Joyce Lee. SEOUL (Reuters) - South Korea’s Hyundai Motor Co said on Monday it swung to a net loss for July-September, missing market estimates by a wide margin, as costs related to engine quality issues and recalls smashed what would otherwise have been strong earnings. Hyundai, the world’s fifth-biggest automaker when combined with affiliate Kia Motors Corp, reported a net loss of 336 billion won ($297.72 million). 10/26/2020 13:40
Image source: AT&T. The AT&T Q3 numbers were released last week. They show even though COVID-19 has had a short-term impact on the newer parts of the company in the entertainment space, AT&T continues to grow in wireless, HBO and broadband. Let’s take a closer look at what this means for growth going forward. AT&T added more than five million wireless lines in the third quarter alone. The company is in the process of a healthy expansion of its business for long-term growth. These 3Q numbers show that AT&T remains one of the strongest leaders in the communications industry, which itself remains at the center of the universe for many industries moving forward. I have been following AT&T for decades, so,I am confused by some stories from AT&T w. 10/26/2020 12:56
Image source: Paul Brennan / Pixabay. By Ken Sweet. CHARLOTTE, N.C. (AP) — Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units, the Commerce Department said Monday, as the housing market’s hot summer buying season cooled. The Commerce Department said Monday that despite the modest decrease, sales of new homes are up 32.1% from a year earlier. 10/26/2020 12:24
By Julie Zhu and Scott Murdoch. HONG KONG (Reuters) - Chinese financial technology giant Ant Group has set terms for a dual listing aimed at raising up to $34.4 billion from the world's largest stock market debut, with investors scrambling for a piece of the fast-growing company. The deal would value Ant at more than $313 billion before a so-called greenshoe option for a 15% overallotment of shares. 10/26/2020 10:32
The political noise surrounding an election creates unique challenges for professional and retail investors. Debates, election commercials, talking heads and the media will paint political ideology for the investor to consider. Truth rarely lives on the extremes, and as analysts and investors, it is important to keep our eye on the ball and what drives long term equity returns. Unless we're about to unwind hundreds of years of economic data and history, long-term equity performance is driven by earnings, cash flow, dividends and revenue in that order. It is true as Goldman points out this week that there is close to $1 trillion in untapped capital gains that potentially could trigger selling in the event of a blue wave. A hike in the cap ga. 10/26/2020 09:23
(Reuters) - Hasbro Inc beat analysts’ estimates for quarterly revenue and profit on Monday, boosted by demand for Monopoly and other board games from stuck-at-home parents looking to keep their children entertained. As schools in many parts of the country continue to hold classes online, coupled with limited options for outdoor activities, parents have turned to toys and board games to keep their children occupied, boosting sales for Hasbro and rival Mattel Inc. Hasbro said it was positioned well for a “good” holiday but stopped short of providing a sales forecast, unlike Mattel, which last week said it expected mid-single-digit growth in gross sales for the crucial shopping season. Analysts at MKM Partners said investors were likely expect. 10/25/2020 21:36
Image source: Lufthansa. FRANKFURT (Reuters) - Deutsche Lufthansa is preparing to ground more planes than planned and cut working hours during the winter as a surge in coronavirus infections is putting people off travelling. Lufthansa and its subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines will ground 125 more aircraft during the winter than originally planned, Chief Executive Carsten Spohr said in a letter to staff seen by Reuters. “It is unavoidable to ramp down operations during the winter of 2020/21 even further and to put as many areas as possible in ‘hibernation’ from mid-December,” he said. Most of the group’s administrative staff will be put on a government-sponsored reduced hours scheme, he added. Lufthansa said this m. 10/25/2020 21:17
By Lisa Shumaker. (Reuters) - The United States has seen its highest ever number of new COVID-19 cases in the past two days, keeping the pandemic a top election issue as Vice President Mike Pence travels the country to campaign despite close aides testing positive. The United States reported 79,852 new infections on Saturday, close to the previous day's record of 84,244 new cases. 10/25/2020 18:45
By Douglas Busvine. BERLIN (Reuters) - SAP on Sunday cut its guidance for the year and abandoned its forecast that profitability would expand steadily over the medium term, saying coronavirus lockdowns would hit demand well into 2021. The German business software group, a leader in enterprise applications ranging from finance to supply-chain management, said in an ad-hoc release it was shifting strategy to accelerate its push into cloud computing. Separately, SAP also released third-quarter results showing a 4% decline in adjusted total revenue. 10/25/2020 15:46
Image source: Dunkin' Brands. Dunkin' Brands, which owns the Dunkin' and Baskin Robbins chains, is in discussions to be acquired by Inspire Brands for $106 per share, a 19.4% premium to Friday's closing price. The New York Times reported the talks on Sunday, citing sources with knowledge of the negotiations. Inspire Brands is backed by private equity firm Roark Capital and owns a portfolio of quick-serve restaurants including Arby’s, Buffalo Wild Wings, Jimmy John’s and Sonic. Dunkin' Brands posted revenue last year of $1.37 billion and net income of $242 million. In the first six months of a coronavirus-impacted 2020, the company has reported $611 million of revenue and $89 million in net income. The company dropped “Donut” from its name la. 10/25/2020 13:39
Image source: Husky Energy. By Ann Maria Shibu and Rod Nickel. (Reuters) - Cenovus Energy Inc has agreed to buy rival Husky Energy Inc in an all-stock deal valued at C$3.8 billion ($2.9 billion) to create Canada's No. 3 oil and gas producer as a pandemic-driven demand collapse and weak oil prices force the industry to consolidate. The deal, announced on Sunday, follows recent big deals in the United States.

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