U.S. stock futures rose on Wednesday after Disney squeezed out a quarterly profit despite taking a $5-billion charge due to the pandemic, while investors awaited data on private payrolls and the service sector to gauge the country’s economic health. Leading gains among the Dow’s components in premarket trade, Walt Disney Co jumped 6.1% as revenue […]
Ginger and Mario Diaz furloughed all 13 of their employees when the COVID-19 pandemic shut down their two gift and party shops in San Antonio in March. The couple rehired eight of the workers in April through a forgivable federal loan, and that bare-bones staff was more than enough to handle sales that were down […]
Mortgage rates just keep sliding lower, hitting yet another new record low this week. The benchmark 30-year fixed-rate mortgage fell 8 basis points to 3.22 percent, according to Bankrate’s weekly survey of large lenders. That’s the lowest rate ever in more than three decades the survey has been conducted. Some expert rate watchers see still […]
Futures contracts tied to the major U.S. stock indexes traded flat during the overnight session Wednesday evening just hours after the Nasdaq Composite clinched its 31st record close for 2020. Dow Jones Industrial Average futures added just 28 points, implying an opening move around the flatline when regular trading resumes. S&P 500 and Nasdaq-100 futures […]
Ford Motor CEO and President Jim Hackett will unexpectedly retire in the midst of an $11 billion restructuring plan that has failed to impress investors. Hackett, 65, will be succeeded by his heir apparent, Jim Farley, Ford’s chief operating officer, effective Oct 1. Farley, 58, will work with Hackett on a “smooth leadership transition over […]
The U.S. government will quickly investigate the circumstances surrounding Eastman Kodak Co’s announcement of a $765 million (585.31 million pounds) government loan to make drugs at its U.S. factories, President Donald Trump said on Tuesday. The company’s shares closed down 3.61% at $14.40 after the Wall Street Journal reported earlier that the U.S. Securities and […]
Virgin Atlantic, the airline founded by British businessman Richard Branson, filed Tuesday for protection in U.S. bankruptcy court as it tries to survive the virus pandemic that is hammering the airline industry. The airline made the Chapter 15 filing in U.S. federal bankruptcy court in New York after a proceeding in the United Kingdom. A […]
Virgin Australia is emerging from the ashes of its April collapse. After a sale and restructuring process, the airline has just announced its future plans. Many of the changes were predictable, but there are some surprises. However, it’s all intended to create a stronger, more profitable, and competitive airline. Virgin Australia outlines its future In […]
Lord & Taylor, the oldest department store in the U.S., has filed for Chapter 11 bankruptcy on Sunday, according to a report by Bloomberg. The department store has about $137.9 million of debt obligations, the report says. Forbes also reports that Lord & Taylor’s store at Willowbrook Mall in Wayne is shuttering and has already […]
U.S. stock futures traded near the flatline early Tuesday morning after the major averages logged in sharp gains to start the new month on Monday. Dow Jones Industrial Average futures were hovering at about 11 points. S&P 500 traded in negative territory while the Nasdaq 100 futures posted marginally positive moves. The Dow closed Monday’s […]
Energy giant BP reported a significant loss for the second quarter on Tuesday, after downgrading the value of some of its assets on expectations of lower commodity prices. Second-quarter underlying replacement cost profit, used as a proxy for net profit, came in at a loss of $6.7 billion, meeting expectations of analysts polled by Refinitiv. […]
Google and ADT have announced, “a long-term, strategic partnership” that will see Google invest $450 million in ADT and the two companies combine their smart home and home security lineup. Google says the two companies will work together to “create the next generation of the helpful home,” while ADT says the deal “will combine Nest’s […]
