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Business News

Location American Business News for 21 April 2020
California unemployment call center still struggling to process claims California Labor Secretary Julie Su acknowledged Monday afternoon that jobless Californians were still having a difficult time reaching live representatives for help with their unemployment claims and said her office is ...
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China's Battery-Metals Rush Hits A Speed Bump China's rush to dominate the production of the raw materials consumed in electric vehicles has taken a hit as one of its leaders in lithium tries to sell assets to pay down a debt pile.
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U.S. Treasury Sends Airlines Coronavirus-Related Financial Aid

Wall Street Journal - 21 Apr 2020 03:38
U.S. Treasury Sends Airlines Coronavirus-Related Financial Aid The Treasury Department sent $2.9 billion in aid to airlines, the first payments the government has made as part of a grant and loan program to help the industry weather disruptions resulting from the coronavirus pandemi...
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U.S. crude oil jumped more than $20 per barrel on Tuesday but still traded below $0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to ...
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"Shake Shack didn't give the money back because they didn't want the money," Mark Cuban said Monday.
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For America's Small Truckers, Demand Is 'Falling Off a Cliff'

Wall Street Journal - 21 Apr 2020 19:01
For America's Small Truckers, Demand Is 'Falling Off a Cliff' Thousands of small trucking companies that move the vast majority of the goods in U.S. freight markets face light cash flow, limited reserves and uncertain access to credit.
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Nintendo Switch sales are up 100% year-over-year as gaming fans rush out to pick up the system to entertain their families and play Animal Crossing.
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More Bad News for Oil from China

Wall Street Journal - 21 Apr 2020 13:56
The oil market is in disarray. Hopes that China can soak up excess supply as its economy recovers may be misplaced.
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Nvidia attempts to move past GeForce Now squabbles

Venture Beat - 21 Apr 2020 02:55
Nvidia has watched as multiple publishers pulled their games from GeForce Now, but the company is ready to move past that with a more stable lineup.
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Chipotle responded to the Covid-19 outbreak by increasing hourly employee pay by 10% and handing out first-quarter bonuses, despite weaker sales in March.
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Snap jumps 20% as coronavirus spurs use in Q1 2020

Venture Beat - 21 Apr 2020 23:42
Snap beat Wall Street estimates for quarterly revenue and user growth for its Snapchat app, as more people stay at home during the coronavirus pandemic.
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While Logitech offers a iPad-to-laptop conversion accessory for $150, Apple's iPad Pro version is at least twice as expensive, but not twice as nice.
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Senate Passes $484 Billion Interim Relief Package. Here's What's In It--And What's Missing The bill will replenish funds for emergency small business lending programs and hospitals. It also shores up funding for national coronavirus testing.
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How Did Stable Value Funds Respond To COVID-19 Turbulence? Stable value funds are holding up well so far.
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Valero Energy Dividend Yield Pushes Past 8%

Forbes - 21 Apr 2020 22:33
Valero Energy Dividend Yield Pushes Past 8% In trading on Tuesday, shares of Valero Energy were yielding above the 8% mark based on its quarterly dividend (annualized to $3.92), with the stock changing hands as low as $47.62 on the day.
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Negative Price Of Oil Is Telling Us That Bigger Problems Are Afoot First negative bond yields, then negative oil prices. Are they connected? What will break next?
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New Jersey Brand Gives 1,000 Mattresses To Local Hospitals And Communities Home linens company Boll & Branch is giving away mattresses to support COVID relief efforts
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Netflix has ranked among analysts' favorite "stay at home" stocks as many have shifted to remote work during the coronavirus crisis.
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How COVID-19 Will Change The Financial World: Ford, The Fed, And The Bond Market The Fed has gone where the other central banks have not yet dared to go. It will now buy not just government bonds and "high quality" corporate bonds, it will also buy corporate "junk" bonds. Like Ford's.
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Stocks Plunge, Dow Falls 600 Points As Historic Oil Rout Continues And Congress Passes More Small Business Stimulus "All hell is breaking loose in oil markets."
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Short-Term Bounce Could Be In The Cards For APT Stock Alpha Pro Tech (APT) stock's 40-day moving average could help keep it afloat, if past is precedent
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AG Barr Threatens DOJ Could Take Action Against States With Strict Coronavirus Rules The attorney general warned that some state lockdowns may be infringing on civil rights.
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