Dimon: America has world’s most dynamic health care system In an exclusive interview, JP Morgan Chase CEO Jamie Dimon argues lawmakers need well-designed health care policy without killing the ‘golden goose’ of America’s dynamic system of health care. JPMorgan Chase Chief Executive Officer Jamie Dimon has returned to lead the largest […]
Read moreLuckin, China’s Starbucks Rival, Plunges 81% on Accounting Probe
In this article Luckin Coffee Inc. plunged as much as 81% on Thursday after the company said its board is investigating reports that senior executives and employees fabricated transactions. The company’s announcement that Chief Operating Officer Jian Liu and several employees reporting to him engaged in misconduct casts doubt on […]
Read moreBoE Holds Rate, QE; Sees Risk Of Longer-Term Damage From Covid-19 Outbreak
Policymakers of the Bank of England unanimously decided to hold the interest rate at a record low and asset purchase programme and signaled further easing if required. The bank also noted risk of longer-term damage to the economy from the coronavirus, or covid-19 outbreak. At the regular policy meeting, the […]
Read moreSenate Passes $2 Trillion Coronavirus Stimulus Package
Senate passed a $2 trillion fiscal stimulus package intended to provide economic relief during the ongoing coronavirus pandemic. The Republican-majority Senate unanimously approved the measure with all 96 members present voting in favor late Wednesday. The Bill is expected to pass through the House on Friday, and President Donald Trump […]
Read moreRefunds to come slow as airline revenues choke
International airlines are offering affected passengers an option of refund, vouchers, discounts on future bookings, and the opportunity to hold tickets for up to two years following travel bans. Travel agents are anticipating long delays in ticket refunds on account of a surge in requests and the stressed financial condition […]
Read moreGlobal economy could shrink by almost 1% in 2020: UN
With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt. The contraction could be even higher if governments fail to provide income support and help boost consumer spending. The global economy could shrink by up to […]
Read moreMacy’s Was Supposed to Have Its Big Comeback, Then the Virus Hit
This isn’t the year that Macy’s Inc. had in mind. In early February, the retailer seen as America’s flagship department store was announcing its big turnaround plans. Only two months later, it finds itself booted off the S&P 500 with its stock at a record low and its credit rating […]
Read moreBanks paid millions in bonuses weeks before ban on cash rewards
Millions of pounds of bank bonuses were paid out weeks before the Bank of England banned British lenders from offering cash rewards to their most senior executives as the coronavirus crisis escalates. In an intervention that sent banking shares tumbling on Wednesday amid renewed turbulence in financial markets, Threadneedle Street […]
Read moreIn Shuttered Las Vegas, Tropicana Is Sold for Five Months’ Rent
Frank Sinatra hung out there. “The Godfather” was filmed there. And the iconic Las Vegas resort even invented the swim-up blackjack table. But on Friday night, Penn National Gaming Inc. announced it’s selling the Tropicana for $307.5 million — about $52.5 million less than it paid for the Strip property […]
Read morePirelli CEO: There is solidarity in working remotely
London (CNN Business)More than 1.1 million autoworkers have been forced to stay home in Europe as the coronavirus pandemic closes plants and brings production in the region to a standstill. The European Automobile Manufacturers’ Association said that factory closures have so far affected roughly 40% of workers directly employed in […]
Read more