Retail Stock Market Caps Are Collapsing Right Before Our Eyes Because Of Coronavirus
You can get a great deal on many of the publicly traded retail stocks these days. The entire stock market is down by more than a third since the start of the coronavirus pandemic, and most companies’ market caps—the total value of all shares at the current price—are severely reduced. The result has been retailers with all or most of their physical stores closed. Some companies have shut their e-commerce operations as well, meaning they have absolutely no revenue at all. Here is a representative sampling of major retailing companies’ market caps based on their closing price on Thursday, in millions of dollars:
Source:Forbes
April 03, 2020 00:45 UTC
Blockchain Brings Transparency To Struggling Market For Texas Grain
As hoarders buy up grain products, inflation in Mexico is causing some stores to go unused. As a result, while there appears to be plenty of grain in Texas, according to the data, purchases have dropped dramatically. Over the past year, more than 13 billion pounds of grain from 350,000 transactions have been tracked. As the price of the Mexican peso increased from $18.50 in mid-February, where it had been for almost a year, to $24 today, purchases on GrainChain dropped 20% in just about three days. “It allows us to make sure that not only are we kept honest, but all of our participants,” says Macias.
Source:Forbes
April 02, 2020 23:48 UTC
U.S. Expected to Recommend Cloth Face Masks for Americans in Coronavirus Hot Spots
The Trump administration is expected to recommend that Americans in parts of the U.S. where the novel coronavirus is rapidly spreading wear cloth face masks or face coverings when in public to reduce transmission. The new recommendation from the Centers for Disease Control and Prevention would aim to reduce the risk that people who are infected but asymptomatic will spread the virus, according to a draft document reviewed by The Wall Street Journal and two people familiar with the planning. It has yet to be announced by the...
Source:Wall Street Journal
April 02, 2020 23:48 UTC
The 1,000-Bed Comfort Was Supposed to Aid New York. It Has 20 Patients.
At a morning briefing on Thursday, officials said three patients had been moved to the Comfort. Mr. Dowling said he has had to tear his hospitals apart, retrofitting any unused space, including lobbies and conference rooms, into hospital wards. His facilities now house 2,800 so-called Covid patients, up from 100 on March 20, he said. Ultimately, Mr. Dowling and others said, if the Comfort refuses to take Covid patients, there are few patients to send. The solution, he and others said, was to open the Comfort to patients with Covid-19.
Source:New York Times
April 02, 2020 23:38 UTC
This Oil Rally Can’t Last
With a single tweet Thursday, President Donald Trump accomplished what decades of wars, coups, terrorist attacks and OPEC meetings hadn’t, sending the price of the world’s most important commodity up by nearly half in a trading session. Keeping it up won’t be as easy. By the end of the session, Brent crude, the global benchmark, had given back much of its initial price gain. Part of the problem is that Mr. Trump’s assertion doesn’t appear to have been true. The bigger one is that it might not matter.
Source:Wall Street Journal
April 02, 2020 23:15 UTC
Apple Accidentally Leaks Exciting New iPhone Release
Last week Apple revealed the biggest new feature of its upcoming iPhone 12 and now the company isn’t even trying to keep its next iPhone release a secret. Apple's iPhone 12 will not be the company's first new iPhone in 2020 (render based on leaks) EverythingAppleProMORE FROM FORBES Apple iPhone 12: Everything We Know So FarSpotted by the excellent 9to5Mac, Apple has left direct references to the upcoming, budget-friendly iPhone 9 in its new iOS 13.4.5 public beta. Because of a second Apple leak within the release: iOS 13.4.5 also makes direct reference to CarKey compatibility. Apple iPhone 9 based on multiple leaks EverythingAppleProMORE FROM FORBES Samsung Galaxy Note 20: Everything We Know So FarAnd this is the clincher. ___Follow Gordon on FacebookMore On ForbesApple iPhone 12: Everything We Know So FarApple iPhone 9: Everything We Know So FarGalaxy S20 Vs Galaxy S20+ Vs Galaxy S20 Ultra: What’s The Difference?
Source:Forbes
April 02, 2020 23:03 UTC
Investigation Into Origins of Trump-Russia Probe Continues Despite Coronavirus
Investigators examining the beginnings of the 2016 probe of possible links between the Trump campaign and Russian election interference are pushing to complete their inquiry despite the coronavirus pandemic. The former U.K. Ambassador to Russia, Sir Andrew Wood, who in 2016 alerted the late Republican Sen. John McCain about related allegations, said he had been contacted in connection with the probe. “My answer to an enquiry by email from a member of the team about 2016 some weeks ago was that I had nothing to add to what...
Source:Wall Street Journal
April 02, 2020 23:03 UTC
New Jersey governor calls for 'postmortem' of federal response to coronavirus
(CNN) New Jersey Democratic Gov. Phil Murphy on Thursday called for an assessment of the federal response to the coronavirus once the crisis itself is handled, as states continue to scramble for much-needed medical supplies to combat the spreading virus. "On the one hand, I'll leave history to the historians in terms of how we got here," Murphy said. "But on the other hand, we've got -- all of us have to do one of the biggest postmortems, when the dust settles on this, in the history of our country." Murphy's comments echo those of congressional Democrats calling for a commission to investigate what happened in the onset of the coronavirus crisis, with the number of US cases going higher than 236,000 on Thursday and continuing to climb.
Source:CNN
April 02, 2020 22:52 UTC
Government Doubles Interest Rate on SBA Loans After Banks Complain
WASHINGTON—Faced with complaints from small banks, the federal government on Thursday doubled the interest rate—to 1%, up from 0.5%—under its emergency lending program for small businesses. The decision was announced hours before the launch of the roughly $350 billion lending program, which is designed to help small businesses stay afloat and pay their workers during the coronavirus crisis. Treasury...
Source:Wall Street Journal
April 02, 2020 22:47 UTC
Booz Allen Pledges $100 Million To Employees And Job Security Through July 1
Booz Allen Hamilton is the latest to pledge that it will not layoff employees. The company rejiggered its budget and announced Wednesday that it will set aside $100 million to enhance its benefits program. ” says Booz Allen CEO Horacio Rozanski, who also offered to take a pay cut if needed. Booz Allen has fared better than the government services industry overall. Booz Allen and their eponymous foundation have also separately given to the COVID-19 Military Support Initiative, CDC Foundation and to the Feeding America organization.
Source:Forbes
April 02, 2020 22:41 UTC
Approach Resources Sale Is Off After Oil-Price Collapse
A joint venture formed by property mogul Sam Zell and private-equity firm Colony Capital has backed out of a deal to pump close to $200 million into Approach Resources Inc., the bankrupt West Texas oil-and-gas drilling company, amid a steep drop in oil prices. The investors, who had formed a joint venture called Alpine Energy Acquisitions LLC to invest in Approach, said the oil company had breached certain “material” conditions in their deal, according to papers filed Thursday. Details of the Approach’s breaches of the conditions...
Source:Wall Street Journal
April 02, 2020 22:30 UTC
USS Theodore Roosevelt commanding officer relieved of duty, acting Navy secretary announces
Acting Navy Secretary Thomas Modly announced Thursday that the commanding officer of the aircraft carrier USS Theodore Roosevelt, now docked in Guam, was relieved "at my direction." "I have no doubt in my mind [Captain] Crozier did what he thought was in the best interest [of] the safety and well being of his crew. The captain raised warnings this week in a memo to his leaders. If we do not act now, we are failing to properly take care of our most trusted asset: our sailors,” Crozier said. CLICK HERE FOR COMPLETE CORONAVIRUS COVERAGEThe letter from Crozier to top Navy brass was first obtained by the San Francisco Chronicle.
Source:Fox News
April 02, 2020 22:30 UTC
Trump slams ‘partisan' probes after Pelosi announces coronavirus committee: ‘Here we go again’
President Trump, speaking at the White House coronavirus briefing on Thursday, unloaded on Democrats who have created a new House committee with subpoena authority to investigate the federal response to the coronavirus pandemic. AFTER MOCKING TRUMP FOR PROMOTING HYDROXYCHLOROQUINE, JOURNALISTS FORCED TO ADMIT IT MIGHT TREAT CORONAVIRUSHouse Speaker Nancy Pelosi announced Thursday she's creating a new House committee to oversee the coronavirus response. "It's witch hunt after witch hunt after witch hunt," Trump continued. "And in the end it's people doing the witch hunt who are losing --- and they've been losing by a lot. The House intelligence panel website still has no press releases at all on the topic.
Source:Fox News
April 02, 2020 22:24 UTC
Taylor Swift Just Did An Incredible Thing To Save Nashville Landmark Amid Coronavirus
Enter Swift, who quietly offered staffers “direct relief” and paid for three months’ worth of health care for all employees, giving the music landmark a fighting chance during unprecedented times. “Now I have some peace of mind as we apply for [Small Business Administration] loans to pay rent, vendors, and other expenses,” Doyle said. Swift helps give us a real shot at coming back on the other side of this.” Swift has a long history of generosity. She created her own foundation to help Tennessee recover from 2010 flooding and has made sizeable contributions to causes that include disaster relief, education and LGBTQ equality. Swift has donated $3,000 to 20 fans to help them make rent and pay other bills, according to Rolling Stone.
Source:Huffington Post
April 02, 2020 22:18 UTC
Opinion | How to Cook a Coronavirus
[Recipe: Lemony Shrimp and Bean Stew]The coronavirus has been especially brutal to the hospitality industry. The big, immediate problem is that huge numbers of hospitality workers need money to pay their bills and buy food. There is a mental health crisis in the industry, right now. Another volunteer group has set up a national network for sending “tips” directly to service industry workers; it’s organized by locality, so you can tip somebody in your town or somewhere else. Eater has a long list of resources for hospitality workers.
Source:New York Times
April 02, 2020 22:18 UTC