Netflix to slash traffic across Europe to relieve virus strain on internet providers

This post was originally published on this site © Reuters. (Reuters) – Netflix Inc (O:) said it will cut traffic by 25% on networks across Europe in a relief measure for internet service providers (ISPs) experiencing a surge in usage due to government “shelter in place” orders aimed at slowing the coronavirus outbreak. The streaming […]

Airlines may be losing battle for cash grants in D.C. rescue package

This post was originally published on this site U.S. airline executives reportedly have been unsuccessful so far in obtaining cash grants from D.C. lawmakers they have said were needed to withstand the coronavirus crisis, according to congressional sources. The airline CEOs have argued they need immediate infusions of cash via government grants, not just loans, […]

Ken Griffin's Citadel behind sudden drop in Tiffany shares – NY Post

This post was originally published on this site The New York-based jeweler shares’ dip below $110 last week, or 19% less than the $135-per-share price that LVMH agreed to pay for Tiffany (NYSE:TIF), resulted from Ken Griffith’s Citadel lnvestment selling a major position in the retailer, the New York Post reports, citing insiders. The drop […]

Virus hit UK companies told to halt financial statements

This post was originally published on this site © Reuters. LONDON (Reuters) – Britain’s listed companies should not publish preliminary financial statements for at least two weeks to better assess how the coronavirus epidemic is affecting their business, the Financial Conduct Authority said on Saturday. “The FCA will be writing tonight to companies it is […]

Danaher's Cepheid gets authorization for quicker Covid-19 test

This post was originally published on this site The U.S. Food and Drug Administration issues the first emergency use authorization for a point-of-care Covid-19 diagnostic for the Cepheid Xpert Xpress SARS-CoV 2 test. Cepheid is part of Danaher (NYSE:DHR). The test will provide results within hours, rather than days like existing tests, said HHS Secretary […]

New Jersey governor signs stay-at-home order

This post was originally published on this site New Jersey Governor Phil Murphy signs an executive order directing all residents to stay at home until further notice. Provides for certain exceptions, such as obtaining essential goods or services, seeking medical attentions, visiting family or close friends, reporting to work, or engaging in outdoor activities. Orders […]

NY, Italy cases surge, Trump signals aid deal – coronavirus update

This post was originally published on this site The Senate is negotiating an aid package that could provide $2T in economic relief, President Trump said, adding that a deal is ‘very close.’ “We are working to pass that legislation on Monday in both the House and the Senate,” VP Pence said. He added that he […]

Exclusive: Goldman injects $1 billion into own money-market funds after heavy withdrawals

This post was originally published on this site © Reuters. By Tim McLaughlin (Reuters) – Goldman Sachs Group Inc (N:) poured more than $1 billion into two of its prime money-market portfolios this week due to heavy investor withdrawals, according to a filing with the U.S. securities regulator. The Wall Street bank purchased $722.4 million […]

NewsWatch: As Dow wipes out over 3 years of stock-market gains, here’s a warning about calling the bottom

This post was originally published on this site MARKETWATCH FRONT PAGE Some investors might feel a strong temptation once the market finally shows some stability to declare that the lows are in. But some Wall Street veterans have a word of advice. See full story. Coronavirus bailouts are coming: Here’s the smart way to help […]