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Business News

Location American Business News for 5 June 2020
Why Wells Fargo's Stock Looks Attractive At $30 Despite a meager 5% gain in Wells Fargo's stock since March 23 (as compared to a jump of more than 35% in S&P 500), we believe Wells Fargo has a significant upside potential at the current price of roughly $30 per share....
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Unemployment Down; How Coronavirus Will Force The Auto Industry To Decide Where To Rehire At possibly the zenith of the Unemployment Mountain, corporations will have key decisions about where and why to rehire employees with the age old balance between cost and risk.
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The Soured Romance Between China and Corporate America

Wall Street Journal - 5 Jun 2020 16:01
The Soured Romance Between China and Corporate America For years, big U.S. firms were Beijing's most reliable allies in Washington. Now they're taking a harder stand.
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Paper magazine staff lash out against CEO over racial problems National tensions over race relations spilled over to Paper magazine this week, where the editorial staff lashed out against Chief Executive Tom Florio for his treatment of a recently departed black employee. "As the edi...
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The best travel rewards credit cards of June 2020

Business Insider - 5 Jun 2020 23:19
The best travel rewards credit cards of June 2020 Crystal Cox/Business Insider The best travel rewards credit cards: Best overall: Chase Sapphire Preferred® Card Best travel card with a high annual fee: Chase Sapphire Reserve® Best for beginners: Capital One® Venture...
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Marriott says Trump ordered stop to Cuba hotel business The Trump administration has ordered Marriott International to wind down hotel operations in Communist-run Cuba, a company spokeswoman told Reuters, extinguishing what had been a symbol of the US-Cuban detente. Starwood ...
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What Happens When CEOs and Stock Analysts Share a First Name

Wall Street Journal - 5 Jun 2020 19:27
A study suggests that executives are more likely to share valuable insight with an analyst who has the same first name.
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'My inability to navigate context collapse is, in a way, really a reflection of my own privilege. I've been lucky to have the space to be different things to different people.'
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Slack reported that it grew revenue 50% during the quarter, compared with 49% last quarter, on an annualized basis.
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Victoria's Secret's U.K. Arm Files for Creditor Protection

Wall Street Journal - 5 Jun 2020 11:34
Victoria's Secret's U.K. Arm Files for Creditor Protection The British unit of Victoria's Secret owner L Brands filed for protection from creditors as it grapples with disruption wreaked by the coronavirus pandemic.
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Oil prices eased slightly on Friday as markets wait to see whether major producers will commit to an extension of record production cuts to support oil prices.
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U.S. Secretary of State Mike Pompeo on Thursday warned American investors against fraudulent accounting practices at China-based companies and said the Nasdaq's recent decision to tighten listing rules for such players s...
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Argentina's New Theme Song: "Don't cry for me, Argentina" is temporarily replaced as that country's defacto theme song.
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A better-than-expected jobs report is the latest data point that shows a possible quick recovery for the U.S. economy.
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Boosting Global Supply Chains Efficiency Through Digitalization: Wärtsilä Navi-Port Global supply chains have been hit hard by the Covid-19 crisis; Wärtsilä's latest advances in digitalization of the maritime industry show how digital-industrial technologies can bring much-needed improvements in effic...
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Unemployment rate falls to 13.3 percent as economy gains surprise 2.5 million jobs despite coronavirus The stock market soared after the job reports shocker, with Dow futures rising by almost 800 points.
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The "biggest payroll surprise in history" is fueling investor optimism that the economy is rebounding.
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Bombardier to cut 2,500 aviation jobs as coronavirus dents travel demand Canadian plane and train maker Bombardier Inc said on Friday it would cut 2,500 jobs, or about 11 percent of the workforce at its aviation unit, as the coronavirus pandemic's crushing impact on the air industry adds to i...
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Here's why the May jobs report shocked economists that were expecting near-record unemployment and massive losses Reuters The latest jobs report on Friday showed the unemployment rate fell to 13.7% in May, a development that surprised many economists. It had been projected to hit nearly 20%, a historic high. Economists noted that th...
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US shocks economists by adding 2.5 million jobs in May as unemployment declines to 13.3% Jason Kempin/Getty Images The Bureau of Labor Statistics on Friday said US employers added 2.5 million payrolls in May, a shocking figure that defied economists' expectations of 7.5 million jobs lost. The US unemployment...
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2020 Baeksang Arts Awards Honor The Best Dramas And Films There were no sure bets as to which Korean dramas and films might win the 2020 Baeksang Arts Awards, since so many recent productions achieved new milestones in excellence in production, screenwriting and acting. The lis...
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The Walker Art Center officially cuts ties with Minneapolis police--will more museums follow suit? It’s clear this is just the beginning, but the Walker already has a head start. As protests continue across the country, cities are being forced to grapple with the realities of police violence and systemic racism. As ...
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