PG&E to plead guilty to 84 involuntary manslaughter counts over 2018 wildfire
Pacific Gas & Electric has agreed to plead guilty to 84 involuntary manslaughter counts in connection with the 2018 Camp Fire, the most destructive wildfire in California’s history.
Coronavirus fears spark surge in a volatility-focused ETN, but with a downside
A product that traders use to profit from surges in volatility has soared as coronavirus fears ravaged stocks, prompting concern about a plunge if the market’s wild swings subside.
Fed support fails to pull stocks out of dive
Fresh support announced by the Federal Reserve failed to lift Wall Street on Monday, after Europe and Asia had both been overwhelmed by the coronavirus pandemic and growing number of national lockdowns that could push the global economy deep into reces…
Instant View: Fed launches unprecedented range of credit support
The S&P 500 opened lower, reversing a brief bounce in U.S. stock futures after the U.S. Federal Reserve on Monday said it would backstop an unprecedented range of credit for households, small businesses and major employers to offset the “tremendous hardship,” caused by coronavirus.
Fed: New Main Street program meant to ensure all firms have access to credit
A Federal Reserve “Main Street” lending program still under development is meant to dovetail with proposals under consideration by Congress to make sure the full range of U.S. companies, from the smallest to the largest, have access to credit during th…
U.S. credit spreads narrow after unprecedented Fed stimulus
U.S. corporate credit spreads narrowed on Monday, indicating positive investor sentiment, following the Federal Reserve’s announcement that it would backstop an unprecedented range of credit.
H&M scraps dividend due to coronavirus as all costs under review
Sweden’s H&M , the world’s second largest clothing retailer, said on Monday it had decided to scrap its proposed dividend due to the coronavirus outbreak, and that it was reviewing all parts of its operations, including all costs.
Ford decides to halt production in India, South Africa on coronavirus impact
Ford Motor Co said on Monday it has decided to temporarily halt vehicle and engine production at its factories in India, South Africa, Thailand and Vietnam in response to the growing impact of the coronavirus.
Netflix to reduce traffic in Israel by 25% to help ISPs
Netflix said on Monday it would reduce network traffic in Israel over the next month following a government request to ease data congestion from people staying home due to the coronavirus.
Futures slide again as virus lockdown raises contraction fears
U.S. stock index futures tumbled on Monday on rising estimates of the economic damage from the coronavirus pandemic, with Goldman Sachs estimating a 24% plunge in U.S. real GDP in the second quarter.
