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Business News

Location American Business News for 28 May 2020

Iran's Economy Is in Crisis; Its Stock Market Is on a Tear

Wall Street Journal - 28 May 2020 16:24
Crushed by U.S. sanctions and weak oil prices, Iran has one of the world's most battered economies. It also hosts one of the best-performing stock markets.
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How Italian Wine Producers See The Future

Forbes - 28 May 2020 21:49
How Italian Wine Producers See The Future Nature does not stop for a pandemic, and neither do Italian winemakers.
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Orbita, a startup developing conversational AI technologies for health care use cases, rasied $9 million in venture capital.
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Office-Supply Company Makes a Pivot---to Your Home Office

Wall Street Journal - 28 May 2020 14:00
Office-Supply Company Makes a Pivot---to Your Home Office W.B. Mason chief Leo Meehan turned to selling goods directly to consumers, first by letting clients ship orders to their workers' home addresses and then by adding a website section.
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President Donald Trump said he will introduce legislation that may scrap or weaken a law that has protected internet companies, including Twitter and Facebook, in an extraordinary attempt to intervene in the media.
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United Airlines Holdings Inc Chief Executive Scott Kirby said on Thursday that facial masks, aircraft cleaning and air filtration systems are better measures for preventing the spread of the coronavirus on airplanes than...
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Brands said they are expanding their work from home collections and promoting 'business casuals' for those who are busy making appearances on Zoom calls.Most retailers, who have started opening stores or selling non-esse...
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Britain's easyJet is not planning on raising new equity currently but its chief executive did not rule it out in future as the low-cost airline seeks to survive the coronavirus pandemic which has wiped out air travel.
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Chaotic videos show people looting a Minneapolis Target store amid a protest against the death of George Floyd Eric Miller/Reuters Videos shared on social media show people looting a Target store in Minneapolis amid protests against the death of George Floyd, who died after a police officer knelt on his neck. The videos show over...
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Stocks close lower Thursday, skidding into negative territory in the final hour of trade, after President Donald Trump said he would hold a news conference on China on Friday, rattling investors who had been enjoying a r...
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Dividend Kings: 5 Top Dividend Stocks For 2020 Investors looking for the best dividend growth stocks should consider companies with the longest histories of dividend growth, explains Ben Reynolds, a contributor to MoneyShow.com and editor of the industry -leading inc...
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How to skip songs on your AirPods or AirPods Pro using the double-tap or press and hold features Hollis Johnson/Business Insider To skip songs on your AirPods, you can use the double-tap action on the left or right earbud. Using double-tap to skip songs on your left or right Airpod may be the default setting, but if...
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Amazon to offer 70 percent of recent temporary hires permanent jobs Amazon plans to offer permanent jobs to about 70 percent of the US workforce it has hired temporarily to meet consumer demand during the coronavirus pandemic, the company told Reuters on Thursday. The world's largest onl...
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China's Geely Automobile Holdings Ltd has launched an $836 million-$859 million placement of 600 million new shares, according to a term sheet seen by Reuters.
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Job cuts by U.S. state and local governments whose budgets have been crushed fighting the COVID-19 pandemic and more second-wave layoffs in the private sector likely contributed last week to a 10th straight week of more ...
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Falling Wedge Breakout Propels Bitcoin Price Above Key Resistance at $9.2K Bitcoin price closed the CME gap and made a decisive move above the $9K and $9.2K resistance as traders attempt to carve a new path to $10K.
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American Airlines to Cut 30% of Management and Administrative Staff The carrier is among those seeing demand pick up after being decimated by the coronavirus pandemic, but the modest gains won't be enough to save thousands of industry jobs.
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BofA looks to rein in costs after staffing up for PPP

American Banker - 28 May 2020 00:15
Expenses soared in the rush to deploy emergency loans to small businesses, and now Bank of America may need to delay some investments if it hopes to meet cost targets, CEO Brian Moynihan said
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Bitcoin is riding high as short sellers in the crypto derivatives market get squeezed out, triggering automatic buy orders.
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U.S. Bancorp could step up branch closings post-COVID

American Banker - 28 May 2020 22:46
Customers' increased use of digital channels during the pandemic could compel the Minneapolis company to rethink its branch strategy, CEO Andy Cecere said.
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Dow Falls 150 Points After Trump Moves To Pressure China The Dow fell for the first time in three days.
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This May Seem Like a Typical Quarantine Ad--Until It's Not Since the beginning of the coronavirus crisis, consumers have been hit with a steady stream of "heartfelt" and maudlin ads. Indeed, one would expect that the gravity of the moment in history demands a more somber approac...
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