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Business News

Location American Business News for 27 Oct 2020

Struggling Rental Market CouldA housing crisis centered on the vast apartment and home-rental markets is emerging in the U.S., threatening to send millions of renters into eviction and leave landlords short billions of dollars.
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Pain at the shopping mall is throwing up a moneymaking opportunity for fund managers. For the bet to pay off, retailers on the edge of going bust must actually survive.
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Businesses that received Paycheck Protection Program loans and Economic Injury Disaster advances discovered later they can't get full forgiveness. Lenders want the rules changed.
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J.M. Smucker Co. sellingJ.M. Smucker will get about $550 million in cash when it sells the iconic Crisco brand to B&G Foods, maker of Green Giant, Emeril's and Ortega foods       
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What's behind the leadership shake-up at TCF

American Banker - 27 Oct 2020 22:48
Craig Dahl said working seven-day weeks to shepherd the integration with Chemical and then the combined company's coronavirus response led to his abrupt retirement.
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GMC Creates the World'sGMC didn't just go big to promote its next-generation 2021 GMC Yukon: It went world's biggest. General Motors' truck division teamed up with Twitter to create the world's biggest tweet, while at the... same time backing the new Yukon's Denali-exclusive interior and its AT4 option, highlighted by its four-corner Air Ride Adaptive Suspension. Over 2,500...
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HSBC vows to 'accelerate' U.S. cost-cutting plan

American Banker - 27 Oct 2020 20:51
The global bank, which has already closed more than 30% of its U.S. branches this year, indicated that the pandemic is prompting it to adjust its plans on the fly.
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The share price decline comes as another storm heads towards the US Gulf Coast, with warnings extended to Louisiana, where Sasol's Lake Charles Chemicals Project is located.
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A research report by Citi and Plan International shows investing in girls' education within developing economies could lift GDP by 10%.
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Subsequently, RBI appointed a three-member Committee of Directors (CoD) comprising independent directors Meeta Makhan, Shakti Sinha and Satish Kumar Kalra.
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Pinterest Adds SeveralPinterest rolled out several tools for merchants on its platform Tuesday with an eye toward the holiday shopping season and beyond. The company wrote in a blog post Tuesday, "It's no secret that... people miss in-store experiences--walking by a storefront and feeling inspired. The pandemic has changed retail forever and accelerated online shopping in a...
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Durable-Goods Orders Rise for Fifth Consecutive Month

Wall Street Journal - 27 Oct 2020 14:46
Durable-Goods Orders Rise forOrders for long-lasting factory goods increased for the fifth consecutive month in September, the latest sign manufacturing companies are recovering from supply-chain disruptions and shutdowns related... to the coronavirus pandemic.
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Triathlon Apparel Brand HUUBBritish triathlon apparel brand HUUB secured £575,000 of crowdfunded investment ahead of a public launch of the campaign on October 28.
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The Salt Lake Tribune EndsThe Salt Lake City newspaper will move to weekly editions. The change will not result in any layoffs in the 65-person newsroom, according to the newspaper's interim editor.
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Caterpillar's adjusted earnings per share of $1.34 on revenue of $9.9 billion in the quarter beat analyst expectations.
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'Large' Tech Company StartsSource: JP Morgan, Instagram JPMorgan's JPM Coin is now live with a large international technology company that is using it for round-the-clock cross-border payments, CNBC reported, citing Takis... Georgakopoulos, the bank's global head of wholesale payments. JPM Coin is being used commercially for the first time this week, Georgakopoulos said, declining to name the client, but adding that other
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How Chipotle Mixes InternetFor fast casual restaurant chain Chipotle, social listening is a key component of their social media strategy. They are keenly aware of customer habits and quickly respond to user-generated content,... including the often-comedic mis-pronunciation of the brand's name. Simply, but with a lot of hard work, Chipotle has embedded itself into internet culture. In the...
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BP Posts Fifth Straight Quarterly Loss

Wall Street Journal - 27 Oct 2020 14:21
BP Posts Fifth StraightU.K. energy company BP reported a fifth consecutive quarterly loss, providing the first glimpse of how major oil companies navigated the third quarter amid a prolonged slump in demand.
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3M reported third-quarter results that beat analyst expectations on the back of strong personal-safety and health equipment sales.
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Bitcoin price nears $13.5K asReports of a fresh market entry from a Singapore bank buoys Bitcoin price as Raoul Pal sees hardly any resistance below $20,000 all-time highs.
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South Korean Economy Returns to Growth

Wall Street Journal - 27 Oct 2020 14:16
South Korean Economy ReturnsSouth Korea's gross domestic product rose 1.9% during the July-to-September period from the previous quarter, aided by a strong recovery in the country's exports of cars and memory chips.
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Want Better TenantKeeping open lines of communication significantly helps maintain healthy relationships with tenants.
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The deal between AMD and Xilinx, two US firms, will create a company with 13,000 engineers and completely-outsourced manufacturing.
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Why Ant Group's I.P.O. Is Set to Be the World's Largest

The New York Times - 27 Oct 2020 14:03
Why Ant Group's I.P.O. Is SetThe Chinese fintech firm is set to break I.P.O. records.
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Google said it's enacting the ban because of "the possibility of delayed election results this year."
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