Ackman hedges to protect against coronavirus’ ‘negative’ impact
Billionaire hedge fund investor William Ackman on Tuesday said he has moved to protect the firm’s $6.6 billion portfolio, which includes restaurant chain and hotel stocks, as the spread of the coronavirus has sparked prolonged panic selling in markets….
NBCUniversal sells record $1.25 billion in Tokyo Olympic ads
Comcast Corp’s NBCUniversal said on Tuesday it had sold more than $1.25 billion in national advertising for the Tokyo Olympics, a new record for any broadcaster for the games.
Berkshire Hathaway to hold May 2 annual meeting, despite coronavirus, but may curb events
Berkshire Hathaway Inc , the conglomerate run Warren Buffett, said it will hold its annual shareholder meeting on May 2 despite the coronavirus outbreak, but may curtail some of the surrounding events.
Fed cuts rates to blunt coronavirus impact, markets drop
The U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world’s largest economy from the impact of the coronavirus, but the emergency move failed to comfort U.S. financial markets roiled by worries about a deeper, lasting slowdown…
JPMorgan to test emergency coronavirus plans with some employees working from home: sources
JPMorgan Chase & Co is asking thousands of U.S. employees to spend a day working from home in the coming weeks to test its contingency plans should the coronavirus spread, sources familiar with the plan told Reuters.
Stocks slide, 10-year Treasury at record low after Fed’s rate cut
Global equity markets slid on Tuesday and the yield on 10-year U.S. Treasuries fell below 1% for the first time after the Federal Reserve cut interest rates to shield the U.S. economy from the impact of the fast-spreading coronavirus.
Another foul day on Wall Street after surprise Fed rate cut
Wall Street tumbled in a volatile session on Tuesday after the U.S. Federal Reserve surprised investors with a half percentage-point cut in interest rates, amplifying fears about the magnitude of the coronavirus’ impact on the economy.
Latest coronavirus news to drive next Fed decision: Mester
The Federal Reserve’s next policy decision in two weeks’ time will be driven by the latest news on how the coronavirus is affecting the economy, Cleveland Federal Reserve Bank President Loretta Mester said on Tuesday after an emergency rate cut.
WeWork offloads office management platform Managed by Q to Eden
Office management platform Eden said on Tuesday it has acquired shared workplace operator WeWork’s Managed by Q for an undisclosed sum.
Fed’s Mester sees possible economic impact from coronavirus outbreak
The coronavirus outbreak has muddied the outlook for the U.S. economy and could weigh on growth in the first half of this year, Cleveland Federal Reserve Bank President Loretta Mester said in London on Tuesday.
