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Equities.com 10/01/2020 10:32
Image: CEO James D. Farley, Jr. Source: Ford Motor. By Ben Klayman. DETROIT (Reuters) - Ford Motor Co's new chief executive, Jim Farley, on Thursday promised the U.S. automaker would move with urgency, responding to investor and analyst criticism of the speed at which his predecessor acted. Farley, on his first day as Ford’s 11th CEO, also announced an executive shake-up that included naming a new chief financial officer. Ford’s promise to accelerate its turnaround is not new at a time when it is executing an $11 billion restructuring. Farley was named chief operating officer in February and promised a faster return to strong profits.
Equities.com 10/01/2020 10:23
Image source: Tim Evanson /. By Eric Tucker. WASHINGTON (AP) — They’ve been fighting in Wisconsin and Pennsylvania over the cutoff date for counting mailed ballots, and in North Carolina over witness requirements. Ohio is grappling with drop boxes for ballots as Texas faces a court challenge over extra days of early voting. Measuring the anxiety over the November election is as simple as tallying the hundreds of voting-related lawsuits filed across the country in recent months. The cases concern the fundamentals of the American voting process, including how ballots are cast and counted, during an election made unique by the coronavirus pandemic and by a president who refuses to commit to accepting the results. The lawsuits are all the more im.
Equities.com 10/01/2020 09:57
Image source: Gap Inc. (Reuters) - Gap Inc said on Thursday it will virtually hire seasonal staff for the busy holiday months to help the apparel retailer fulfill online orders and man its customer contact centers as consumers shop heavily online due to the pandemic. The company said to make its hiring process safe and easy, it will allow candidates to apply online for any role in three minutes or less. Retailers are preparing for a holiday season that would mostly include sales from online shopping as consumers try to avoid large crowds in stores due to the COVID-19 health crisis. Gap, which also owns the Old Navy, Banana Republic and Athleta chains, said it added 3.5 million new customers through its online channels in the second quarter.
Equities.com 09/30/2020 21:41
Image source: marathonpetroleum.com. (Reuters) - Marathon Petroleum Corp, the largest U.S. oil refiner, said it would lay off about 2,050 employees, or 12% of its workforce, at its U.S. operations, excluding Speedway, as the COVID-19 pandemic crushed global demand for motor fuels. The workforce reduction plan is a result of indefinite idling of its Martinez, California and Gallup, New Mexico refineries, the company said in the filing here. Refiners and oil producers have been cutting staff, slashing spending and reducing production to cope with the slump in crude prices and a global glut of fuel. On Wednesday, Royal Dutch Shell said it would dismiss up to 9,000 workers, or 10% of its staff, while oil majors, Chevron Corp and Exxon Mobil Corp.
Equities.com 09/30/2020 20:53
Image: David Solomon, CEO, Goldman Sachs. (Reuters) - Goldman Sachs Group Inc plans to move forward with "a modest number of layoffs", a company spokesperson said on Wednesday, months after the Wall Street bank paused job cuts due to the COVID-19 pandemic. Bloomberg News, which first reported about the layoffs, said the bank was looking to cut about 400 jobs, or roughly 1% of its workforce, citing people familiar with the matter. "At the outbreak of the pandemic, the firm announced that it would suspend any job reductions.
Equities.com 09/30/2020 20:18
By Steve Peoples, Will Weissert and Kevin Freking. PITTSBURGH (AP) — President Donald Trump and Democrat Joe Biden kept up their debate-stage clash from afar on Wednesday as they competed for working-class voters in the Midwest, while elected officials in both parties — and the debate commission, too — sought to deal with the most chaotic presidential faceoff in memory. The debate raised fresh questions about Trump’s continued reluctance to condemn white supremacy, his efforts to undermine the legitimacy of the election and his unwillingness to respect debate ground rules his campaign had agreed to.
Equities.com 09/30/2020 18:05
Image: NextEra Energy CEO James Robe. Source: nexteraenergy.com. By David French. (Reuters) - NextEra Energy Inc Chief Executive James Robo said on Wednesday that the largest U.S. power utility would not embark on a hostile takeover, a day after reports surfaced it had made an approach to Duke Energy Corp in what would be the sector's biggest-ever acquisition. Duke Energy, which has a market capitalization of $65 billion, has rebuffed NextEra’s acquisition interest, according to a person familiar with the matter who confirmed a Wall Street Journal report about the approach that was published on Tuesday. Details of the bid could not be learned. Speaking at a Wolfe Research conference on Wednesday, Robo declined to comment specifically on NextE.
Equities.com 09/30/2020 13:28
Image source: williamhill.com. By Wayne Parry. ATLANTIC CITY, N.J. (AP) — Caesars Entertainment said Wednesday it is buying the British bookmaker William Hill for $3.7 billion in a deal aimed at binding its casinos ever closer to the fast-growing legal sports betting industry in the U.S. Caesars said it is interested in the the company’s U.S. assets, and indicated it would seek to sell off William Hill’s assets in the United Kingdom and other countries. "The opportunity to combine our land based-casinos, sports betting and online gaming in the U.S. is a truly exciting prospect," Tom Reeg’s Caesars CEO said in a statement.
Equities.com 09/30/2020 12:39
(Reuters) - The U.S. House Committee on Transportation and Infrastructure on Wednesday unanimously approved bipartisan legislation to reform the Federal Aviation Administration’s (FAA) aircraft certification process in the wake of two fatal Boeing 737 MAX crashes that killed 346 people. Representative Peter DeFazio, who chairs the Committee on Transportation and Infrastructure, said the House would vote on the sweeping reform measure later this year. The Boeing Co 737 MAX has been grounded since March 2019.
Equities.com 09/30/2020 09:56
Image source: Alessandro D'Andrea / Pixabay. By Pamela Barbaglia and Joshua Franklin. LONDON/NEW YORK (Reuters) - Mergers and acquisitions came back with a bang in the third quarter as executives rushed to revisit deals left on hold at the height of the coronavirus pandemic and boardrooms regained confidence after a roller-coaster year. A deal frenzy in September led to a record third quarter with more than $1 trillion worth of transactions around the world, mostly focused on coronavirus-resilient sectors such as technology and healthcare, according to Refinitiv data. The third-quarter spike, however, failed to take up all the slack after a lackluster start to the year. M&A deals overall were down 21% at $2.2 trillion in the first nine months.
Equities.com 09/29/2020 23:56
Image: Screenshot, Sept 29, 2020. Source: C-SPAN. By Jarrett Renshaw and Steve Holland. CLEVELAND (Reuters) - Republican President Donald Trump and Democratic rival Joe Biden battled fiercely over Trump’s leadership on the coronavirus pandemic, the economy and the integrity of November’s election in a chaotic first debate on Tuesday marked by personal insults, name calling and Trump’s repeated interruptions. Moderator Chris Wallace never established control of the debate. The two White House contenders talked over each other and lobbed insults in a breathtaking political brawl that made it hard for either to make a point. “Will you shut up, man? This is so unpresidential,” said an exasperated Biden after Trump’s repeated interruptions during
Equities.com 09/29/2020 20:09
Image: Kentucky Attorney General Daniel Cameron. Source: ag.ky.gov. By Dylan Lovan. LOUISVILLE, Ky. (AP) — Kentucky’s attorney general acknowledged that he never recommended homicide charges against any of the police officers conducting the drug raid that led to Breonna Taylor’s death, and said he didn’t object to a judge’s order to publicly release the grand jury’s deliberations. Amid outrage over the jury’s decision last week to not charge any of the officers for Taylor’s fatal shooting, Attorney General Daniel Cameron said Monday that he didn’t object to the public release of the proceedings or to any members of the panel speaking publicly about their experience. “We have no concerns with grand jurors sharing their thoughts on our presenta.
Equities.com 09/29/2020 18:31
Image source: Walt Disney. LOS ANGELES (Reuters) - Walt Disney Co will lay off roughly 28,000 U.S. employees in its theme parks division, the company said on Tuesday, as its resorts struggled with limited attendance and the continued closure of California's Disneyland due to the coronavirus pandemic. About two-thirds of the laid-off employees are part-time workers, the company said in a statement. Disney shut its theme parks around the world when the novel coronavirus began spreading earlier this year.
Equities.com 09/29/2020 17:54
Image: Screenshot, Sept. 29, 2020. Source: regeneron.com. By Deena Beasley. (Reuters) - Regeneron Pharmaceuticals Inc on Tuesday said its experimental two-antibody cocktail reduced viral levels and improved symptoms in non-hospitalized patients with mild-to-moderate COVID-19, the disease caused by the novel coronavirus. When asked whether the company would apply for emergency use authorization from the U.S. Food and Drug Administration, the company said it plans to “rapidly” discuss the early trial results with regulatory agencies, including the U.S. Food and Drug Administration. Results for the first 275 trial patients showed the greatest effect in patients who had not mounted their own immune response prior to treatment, suggesting that REG.
Equities.com 09/29/2020 16:37
Image source: Elise Aldram / Pixabay. By Dmitry Zhdannikov, Julia Payne. LONDON (Reuters) - OPEC is unlikely to increase oil output as planned from January next year as it could mean adding more downside pressure to the already bearish and weak market, top traders said on Tuesday. OPEC is due to taper their production cuts by 2 million barrels per day in January.
Equities.com 09/29/2020 15:36
Image source: Mall of America. By Lucia Mutikani. WASHINGTON (Reuters) - U.S. consumer confidence rebounded by the most in 17 years in September amid an improvement in labor market views, but it remained below levels that prevailed before the COVID-19 pandemic struck the nation early this year. The surge in confidence reported by the Conference Board on Tuesday came despite a resurgence in new coronavirus cases in some parts of the country and government help for businesses and the unemployed drying up.
Equities.com 09/29/2020 15:12
Image source: JPMorgan Chase. The Commodity Futures Trading Commission (CFTC) announced a settlement with JPMorgan Chase today for manipulative and deceptive conduct and spoofing that spanned at least eight years and involved hundreds of thousands of spoof orders in precious metals and U.S. Treasury futures contracts. Spoofing is a practice in which traders place orders that they intend to cancel, with the sole objective of moving the market in a favorable direction for their actual desired trades. JPMorgan will pay a total penalty of $920.2 million—the largest amount of monetary relief ever imposed by the CFTC in any spoofing case:. Restitution of $311,737,008. Disgorgement of $172,034,790. Civil penalty of $436,431,811. Spoofing is illegal—pur.
Equities.com 09/29/2020 10:24
Image: Wisconsin Supreme Court, State Capitol building, Madison. By Scott Bauer. MADISON, Wis. (AP) — The Wisconsin Supreme Court is scheduled to hear arguments Tuesday in a case that could result in the purging of about 130,000 people from voter rolls in the hotly contested battleground state. However, it wasn’t clear if the court would rule in time to affect the Nov. 3 election that was just five weeks away.

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