Showing posts from June, 2020

News | Business | Investment | Stocks: J.P. Morgan is betting these stocks will dominate as an uncertain second-half of the year looms

Barbara Kollmeyer 5-7 minutes - Source: marketWatch Need to Know Critical information for the U.S. trading day Here comes the second half. Getty Images Stocks are wobbling on the last trading day of the quarter, as the World Health Organization warns “the worst has yet to come” with COVID-19. But up around 16% and 18% respectively, the Dow DJIA, +2.32% and S&P 500 SPX, +1.46% are poised for the best three-month stretch since end-1998, though that doesn’t quite make up for ugly first-quarter losses. Beating all comers is the Nasdaq Composite, up 28% as technology stocks have largely emerged i

Analysis | The Cybersecurity 202: Commission's plan to avert devastating cyberattack faces uphill battle, 9/11-era officials say

By Joseph Marks 14-17 minutes - Source: The Washington Post with Tonya Riley A bipartisan commission that unveiled its plan to reduce the risk of a devastating cyberattack on the scale of the September 11, 2001, terror attacks should be worried about another threat: Washington. Those who worked on the government response to 9/11 predict that today's policymakers aren't ready to take on ambitious changes – and there's no sense of urgency with the public fixated on other crises, from the coronavirus pandemic to the economy. This could be a huge challenge for the Cyberspace Solarium Commission, which seeks to shore up potential government and intelligence blind spots to avert a mass casualty attack before it happens. “I don’t want to say they can’t get the job done, but we had things going for us that they don’t that made our job much easier,” former congressman Lee Hamilton (D-Ind.), who co-chaired the 9/11 Commissio

Market Insider | Biggest Moves Premarket: Stocks making the biggest moves in the premarket: Micron, Conagra Brands, Apple, Xilinx & more

Peter Schacknow 3-4 minutes - Source: CNBC Take a look at some of the biggest movers in the premarket: Conagra Brands (CAG) – The food producer reported quarterly profit of 75 cents per share, 9 cents a share above estimates. Revenue also exceeded consensus and Conagra gave a current-quarter earnings forecast range that largely exceeds estimates as the pandemic helps spur a surge in demand. Micron Technology (MU) – Micron beat estimates by 5 cents a share, with quarterly earnings of 82 cents per share. The chip maker’s revenue also beat forecasts and Micron gave upbeat revenue guidance as stay-at-home workers and students boosted demand for its computer and data center chips. Simon Property Group (SPG) – Simon said it would reopen its five remaining closed retail properties within the next week. The mall operator also said many of its tenants have reported higher than expected sales since reopening their doors. Apple (AAPL)

News | US Politics: Republicans once again face questions about why Trump isn’t tougher on Russia

By Seung Min Kim closeSeung Min KimWhite House reporter. 8-10 minutes - Source: The Washington Post Trump and the White House repeatedly denied Monday that the president had been briefed on the efforts against coalition forces in Afghanistan, which are believed to have led to the deaths of several U.S. service members. White House press secretary Kayleigh McEnany said Trump had not been told of the intelligence because it had not been verified and declined to say if the president had been briefed since news of the bounties became public. But on Capitol Hill, Republican senators demanded more information from the administration and called for Russia to be punished if reports from the New York Times, The Washington Post and other media outlets were deemed accurate. The Republicans took a notably tougher public tone than Trump did, although they mostly avoided the question of whether the president should have been aware of the intellig

US Market | Futures Indicator: Stock futures are little changed after a strong Monday surge, Powell testimony ahead

Fred Imbert, Maggie Fitzgerald 4minutes - Source: CNBC U.S. stock futures were mostly flat early Tuesday ahead of the final trading day of a volatile month for markets. Dow Jones Industrial Average futures traded 68 points lower, or 0.3% and implied a loss of 34 points at the open. S&P 500 and Nasdaq-100 futures traded just below the flatline. Shares of Wells Fargo ticked 1.2% lower in the premarket after the bank said Monday it would likely slash its dividend in the third quarter to comply with the Federal Reserve stress test. Bank of America , Cit i, JPMorgan and Goldman Sachs said their dividends would stay the same . Shares of chip stock Micron jumped 5.3% following the company’s better-than-expected earnings report. Micron gave strong forward revenue guidance. Shares of Lululemon gained 4% on news it will acquire at-home fitness company Mirror for $500 million.  Federal Reserve chair Jerome Powell and Treasury Secret

News | Business | Oil & Gas: Oil major Shell to write down up to $22 billion of assets in second quarter

Sam Meredith 3minutes - Source: CNBC A detailed view of a Shell gas station sign showing the low price of $1.69 per gallon, the result of the coronavirus (COVID-19) outbreak on March 31, 2020 in Jacksonville, Fl. David Rosenblum | Icon Sportswire | Getty Images Oil giant  Royal Dutch Shell  said on Tuesday it will write down the value of its assets by up to $22 billion in the second quarter, after revising down its long-term outlook for oil and gas prices. It comes after the energy company announced in mid-April an ambition to reduce greenhouse gas emissions to net zero by 2050. Shell said in a statement to investors that it had reviewed a significant portion of its business given the impact of the coronavirus pandemic and the “ongoing challenging commodity price environment.” It said it would take aggregate post-tax impairment charges in the range of $15 billion to $22 billion in the second quarter. This included a write

News | Business | Business: YouTube bans prominent white supremacist channels

3-4 minutos - Source: BBC Image copyright Getty Images YouTube has banned some prominent white supremacist channels as internet companies face a backlash over racist content. The Google-owned video platform said the channels had violated its policies that prohibit hate speech. In recent days social media companies have been been boycotted by a number of major advertisers. On Monday Ford joined a growing list of global brands that are pausing social media advertising during July. In a statement YouTube said: “We have strict policies prohibiting hate speech on YouTube, and terminate any channel that repeatedly or egregiously violates those policies.” "After updating our guidelines to better address supremacist content, we saw a 5x spike in video removals and

News | Coronavirus | US Economic Impact: ‘Trump political base hit hardest by coronavirus'

9-11 minutos - Source: BBC Image copyright Getty Images Image caption Tomas Philipson (top right) says low-wage earners have been hit the hardest by the coronavirus pandemic The economic impact of the coronavirus has taken a heavier toll on low-wage earners according to Tomas J Philipson, the chair of the White House Council of Economic Advisers. In an exclusive interview with the BBC before his reported departure , he said: "There's a sort of unique impact of this shock in that its very regressive, hitting the low wage part of the economy. Low-wage workers take a bigger hit than higher wage". The virus has derailed any progress the US

News | Business | UK Economy: UK economy hit worse than first thought

3-4 minutes - Source: BBC Image copyright Getty Images Image caption There was a sharp fall in consumer spending at the end of March, the ONS said The UK economy shrank more than first thought between January and March, contracting 2.2% in the joint largest fall since 1979, official figures show. The Office for National Statistics (ONS) revised down its previous estimate of a 2% contraction, with all the main economic sectors dropping. There was a significant economic impact in March, as the coronavirus pandemic began to have an effect. The data comes as the prime minister is set for a major speech on the economy . Jonathan Athow, deputy national statistic

News | China | Hong Kong Security Law: China passes controversial Hong Kong security law

7-9 minutes - Source: BBC Image copyright AFP Image caption Protests rocked Hong Kong last year, sparked by a bill intended to enable extraditions to the mainland China has passed a controversial security law giving it new powers over Hong Kong, deepening fears for the city's freedoms, the BBC has learned. It is set to criminalise secession, subversion and collusion with foreign forces, but will also effectively curtail protests and freedom of speech. The move follows increasing unrest and a widening pro-democracy movement. Veteran activists have already said they will march on Wednesday, despite the risk of arrest under the new law. But the Demosisto p

DealBook: All the Companies Quitting Facebook

19-23 minutes - Source: NYT Credit...Drew Angerer/Getty Images This is getting serious A boycott of advertisers on social media is gaining momentum, and Facebook is the primary target. Marketers are expressing unease with how it handles misinformation and hate speech, including its permissive approach to problematic posts by President Trump. Who’s doing what. The boycotts have followed a call by the advocacy group Stop Hate for Profit, which is keeping a running list of participating companies. Over the weekend, Starbucks and Diageo said they would pause advertising on all social media platforms. They’re among the biggest spenders on Facebook ads: Starbucks spent $95 million and Diageo $23 spent million on the platform last year. Other companies have boycotted Facebook specifically, including Honda America, Levi Strauss and Patagonia. Who’s next? Procter & Gamble, the world’s largest advertiser, said it wouldn’t rule out a pause on