Smartphone shipments in China up 17% in April, signalling likely rebound: government data
Smartphone shipments from China’s factories to vendors rose 17% in April compared to the same month a year ago, according to government data released on Tuesday.
Wall Street Titans See Tax Hikes Whether They Like Them or Not
By Sridhar Natarajan and Max Abelson Dalio and Fink predict higher individual, corporate rates Blankfein says pandemic response means more revenue is needed (Bloomberg) — It’s a line you don’t hear every day from Wall Street titans: Maybe we really should pay higher taxes. The pandemic has bold-face names like Larry Fink and Lloyd Blankfein thinking out loud that it might be […]
S&P 500 Has Upside to 3,300 to Price in a 50% Recovery
Fair Value Model 2Q20 Gina Martin Adams & Michael Casper S&P 500 Has Upside to 3,300 to Price in a 50% Recovery (Bloomberg Intelligence) — The S&P 500 could stretch to 3,300 to price in a recovery half as strong as average beginning in 2H, according to our scenario analysis, but it will take EPS […]
How Facebook’s Reliance Deal Upends a $1 Trillion Digital Arena
An innocuous WhatsApp “Hi” could end up transforming a $1 trillion industry. Facebook Inc. bought its way into India’s internet commerce sphere last week with a $5.7 billion investment in Reliance Industries Ltd., a sprawling conglomerate in everything from telecom to energy. They launched their first pilot within days, a program covering three Mumbai neighborhoods where consumers can send […]
U.S. Stocks Don’t Need to Fall on Economic Damage, Goldman Says
U.S. stocks may be able to look through a dismal earnings season or two, and the deepest economic contraction in modern history, according to analysis by Goldman Sachs Group Inc. That’s based on historical analysis that suggests equities price in macroeconomic performance over a two-year horizon. As long as projections are — as they indeed […]
With $2.3 Trillion Injection, Fed’s Plan Far Exceeds Its 2008 Rescue
The Federal Reserve said it could pump $2.3 trillion into the economy through new and expanded programs it announced on Thursday, ramping up its efforts to help companies and state and local governments suffering financial damage from the coronavirus.
U.S. commercial paper rates fall as Fed’s interventions take hold
Rates on U.S. short-term corporate loans fell on Friday, suggesting that investors had begun to respond to the Federal Reserve’s interventions to return liquidity to the market, according to data released on Monday by the central bank.
India toughens rules on investments from neighbours, seen aimed at China
India has stepped up scrutiny of investments from companies based in neighbouring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak.
Virus Vaccine May Be Ready for Mass Production By Autumn, Oxford Professor Says
A coronavirus vaccine trial by University of Oxford researchers aims to get efficacy results by September, and manufacturing is already underway. A team led by Sarah Gilbert, a professor of vaccinology, has recruited 500 volunteers from the ages of 18 to 55 for the early- and mid-stage randomized controlled trial. It will be extended to […]
Guidelines to Open US Economy
State and local officials may need to tailor the application of these criteria to local circumstances (e.g., metropolitan areas that have suffered severe COVID outbreaks, rural and suburban areas where outbreaks have not occurred or have been mild). Additionally, where appropriate, Governors should work on a regional basis to satisfy these criteria and and to […]