Financial Industry News
Amid the Covid-19 pandemic, consumers are panicking and withdrawing large amounts of cash from ATMs. Hiding cash in your mattress isn’t a good idea, as it could get lost or stolen. It’s safer to keep your money in your bank account. The banking system is solid and trustworthy. Toilet paper is not the only paper […]
Continue ReadingWeWork burned $1.4 billion in cash in the final quarter of 2019, on top of the $1.25 billion it lost in the previous quarter. Its main investor, SoftBank, is set to withdraw further funding, meaning that WeWork could run out of cash. WeWork’s business prospects will be damaged by people’s reduced appetite for working in […]
Continue ReadingAs other billionaires bled money, Jeff Bezos is up over $2 billion this year. The Amazon CEO sold stock in early February just before the crash. He saved hundreds of millions in paper losses in the process. Compared to other big-tech stocks, Amazon’s market losses are minimal. Jeff Bezos was made for times like these. […]
Continue ReadingThe government is telling people to stay in their homes as the coronavirus is spreading. An increasing number of businesses are shutting down. A lot of people are losing their job. People are panic-buying and online shopping is increasing. Retail giants like Walmart need to hire more staff. Federal Reserve Bank of St. Louis President James […]
Continue ReadingThere have been reports of people rushing to withdraw cash sums from their bank account in light of the coronavirus pandemic sweeping the world. The FDIC is stressing to citizens that the safest place for their money is their bank. If the coronavirus spreads to such an extent that people aren’t able to carry out […]
Continue ReadingAs coronavirus spreads throughout the United States, we’ve seen economic pain for many workers in numerous industries. The gig economy workforce already lacks sick pay and health care. Coronavirus has shone a light on the gig economy, highlighting just how fragile the industry is. Back in November, before the coronavirus was a factor in day […]
Continue ReadingA biotech giant is speeding up the development of a therapy against COVID-19. The drug can act as a vaccine and also treat infected patients. Investors have welcomed the news by pushing the company’s stock up in after hours trading. A potential SARS-CoV-2 (coronavirus) vaccine is coming sooner than expected. Biotech titan Regeneron (NASDAQ: REGN) […]
Continue ReadingBoeing is strong-arming the federal government for a bailout by threatening layoffs and bankruptcies in its extensive supply chain. This is corporate extortion, and the Trump administration looks to be taking the bait. Boeing should issue more shares and dilute its shareholders instead of asking the government for money. Taxpayers shouldn’t foot the bill for […]
Continue ReadingAmazon is one of the only companies that’s hiring more workers in the midst of a global pandemic. The tech giant has built a strong balance sheet over time. Jeff Bezos sold the top and is ready to buy the bottom. While other big companies are begging to be bailed out by the government, Amazon […]
Continue ReadingU.S. airlines are in dire straits as a result of the coronavirus global pandemic. Berkshire Hathaway has a significant stake in four major U.S. airlines. A previous bailout earned Warren Buffett $10 billion five years after the fact. The coronavirus global pandemic has heavily impacted the travel industry. U.S. airlines, including those owned by Berkshire […]
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