10:27 a.m. Today10:27 a.m. July 3, 2020
Boeing Killed Its 747 Jet. Here’s Why.
The jumbo jet is a relic of another age. What it’s death means for Boeing and its stock.
9:29 a.m. Today9:29 a.m. July 3, 2020
- By Archie Mitchell
Dark day for workers as thousands lose jobs including 15,000 at Boeing rival Airbus A raft of employers have announced thousands of job cuts in two days signaling lasting problems caused by coronavirus lockdownsThe U.K. government’s job support package has paid the wages of 9.3 million workers since April, but in August it will be relaxed and there are fears this could cause a wave of unemployment.
9:23 a.m. Today9:23 a.m. July 3, 2020
- By Rupert Steiner
An instant chat app promising criminals ‘worry free secure communication’ was hacked by police — here’s how 746 gangsters were arrested. Police hacked into a WhatsApp-style chat for gangsters and spied on drug dealers, weapons traffickers, and crime lords plotting to execute rivals. Police hacked into a WhatsApp-style chat for gangsters and spied on drug dealers, weapons traffickers, and crime lords plotting to execute rivals.
9:04 a.m. Today9:04 a.m. July 3, 2020
- By Callum Keown
U.K. reveals 59 countries exempt from quarantine rules — the U.S. fails to make the listThe U.K. government has scrapped a 14-day quarantine rule for visitors to England from 59 countries, creating “travel corridors” for holidaymakers
5:26 a.m. Today5:26 a.m. July 3, 2020
French, Spanish services sectors return to growthThe services sectors in France and Spain returned to growth in June, while those of Germany and Italy saw much smaller declines in activity than in recent months, according to surveys of purchasing managers published Friday.
4:07 a.m. Today4:07 a.m. July 3, 2020
- By Pierre Briançon
Macron appoints unknown technocrat PM to prepare for 2022 re-election bidEmmanuel Macron on Friday appointed as France’s new prime minister an unknown technocrat whose only political experience has been as mayor of a small southern French city, in a bid to centralize power more closely two years before his shot at being re-elected France’s President in 2022.
1:37 a.m. Today1:37 a.m. July 3, 2020
- By Associated Press
French Prime Minister Édouard Philippe resigns ahead of Macron’s cabinet reshuffleFrance is to name a new prime minister “in the coming hours,” the country’s presidency said on Friday, shortly after announcing Édouard Philippe’s resignation amid an expected reshuffle.
11:48 p.m. July 2, 2020
France, Germany could help save Airbus jobs: CEO-- Airbus could retract some announced job cuts in Germany and France if it receives aid from both countries' governments, German magazine Spiegel reports. --The plane maker could reduce the job cuts to 3,100 from 5,100 in Germany and to 3,000 from 5,000 in France if there was government support for hydrogen-powered aircraft and if short-time work was extended, Airbus Chief Executive Guillaume Faury tells Spiegel.
10:00 p.m. July 2, 2020
EDF raises nuclear output forecast for 2020Electricite de France SA said late Thursday that it is raising its annual nuclear output estimate in France. The state-controlled French utility said it expects output to be around 315 terawatts hours to 325 terawatts hours for 2020. It had previously estimated 300 TWh for the year. "This revision reflects the adjustment of the duration of planned outages for 2020, taking into account the conditions observed on sites for resuming activities," EDF said.
5:34 p.m. July 2, 2020
Zwift Makes the Tour de France a Virtual Cycling Race
Starting on July 4, dozens of professional cyclists will take part in a virtual Tour de France over three weekends on a cycling platform known as Zwift.
5:02 p.m. July 2, 2020
Europe on a Budget
There are some signs that a recovery could be on the horizon on the continent. What investors should look at, and an ETF to consider.
4:53 p.m. July 2, 2020
- By Abby Schultz
Emerging Artists Smash Estimates at Phillips AuctionWorks by Matthew Wong, Titus Kaphar, Otis Kwame Kye Quaicoe, and Amoako Boafo steal the show
6:57 a.m. July 2, 2020
The FAA Is Done Testing Boeing’s 737 MAX. A Video Gives Investors a Look.
The Federal Aviation Administration outlined what is left to complete before the planes can fly again in commercial service.
4:28 a.m. July 2, 2020
Top Economists Hint That Time Has Come for Central Banks to Pause
The Bank of England’s Andy Haldane and the ECB’s Philip Lane seem to both believe policy makers should wait before acting further to prop up the economy.
2:38 p.m. July 1, 2020
- Associated Press
Global health experts criticize U.S. deal to hog supply of coronavirus drug U.S. makes deal with Gilead for 90% of remdesivir for next 3 monthsPublic health experts on Wednesday criticized the U.S. for securing a large supply of the only drug licensed so far to treat COVID-19.
11:31 a.m. July 1, 2020
- By Peter Morici
Opinion: The West has got to make China play by the rulesAmericans increasingly support foreign trade but distrust China. The logical policy pivot is to either compel China to play by the rules or boot it from the WTO altogether.
9:29 a.m. July 1, 2020
Former Indivior CEO Pleads Guilty In The U.S. After Opioid Investigation
The ex-chief executive of drug company Indivior, who resigned on Monday, pleaded guilty with the Justice Department in relation to allegations of misleading marketing of an opioid addiction treatment.
5:53 a.m. July 1, 2020
- By Jillian Berman
‘I know that my education can’t be taken away’: 4 students on how COVID-19 has upended their college years One became her family’s sole breadwinner; another balanced classwork with taking care of younger siblingsOne became her family’s sole breadwinner; another balanced classwork with taking care of younger siblings.
4:03 a.m. July 1, 2020
Barron’s Daily: Another Reminder That Coronavirus Isn’t Going Away: Denny’s Is Selling Stock.
Fauci delivers a stark message to lawmakers, the U.S. and China escalate again, an early jobs report, and other news to start your day.
3:44 a.m. July 1, 2020
Beyond Meat to Sell Burgers in Supermarkets in China
Beyond Burgers will be sold in 50 Shanghai-based supermarkets called Freshippo, which are operated by Alibaba.
3:40 a.m. July 1, 2020
Airbus’ 15,000 Job Cuts Show Limits of Government Bailouts
The first reaction of the French government was to deem the plan “excessive.” This illustrates the conundrum most governments have to face in the recovery phase of the coronavirus crisis.
1:00 a.m. July 1, 2020
European Stocks Have Long Lagged Behind the U.S. That Might Change.
BlackRock Investment Institute’s team says European stocks are poised to outperform in the near term.
10:41 p.m. June 30, 2020
Hammerson liquidity improves as it collects rentsHammerson PLC said Wednesday that it has negotiated an amendment to its covenants and secured a coronavirus support scheme, improving liquidity, and that it has collected the majority of its first-half rent.
3:02 p.m. June 30, 2020
- Associated Press
Republican leaders — with one notable exception — urge wearing face masks As coronavirus cases surge, Sen. Lamar Alexander urges Trump to set a good exampleAs a surge of infections hammers the South and West, GOP officials are pushing back against the notion that masks are about politics, as President Donald Trump suggests, and telling Americans they can help save lives.
12:57 p.m. June 30, 2020
U.S. Stocks Close Out Their Best Quarter in Decades
All the major indexes closed higher as markets weighed increasing coronavirus cases against economic data from China showing factory activity rising to a three-month high.
10:31 a.m. June 30, 2020
- By Claudia Assis
Airbus to cut workforce in bid to weather its 'gravest crisis'Airbus SE said Tuesday it will cut about 15,000 jobs by next summer as it aims to "resize" its workforce and commercial-airplane operations in response to the coronavirus pandemic. "The commercial aircraft business activity has dropped by close to 40% in recent months as the industry faces an unprecedented crisis," the European plane maker said in a statement. Air traffic is not expected to recover to before COVID-19 levels before 2023 and potentially as late as 2025, so Airbus needs to take "additional measures" to reflect the industry's outlook. The largest job cuts will happen in Germany and France, with 5,100 and 5,000 positions eliminated, the company said. Airbus will rely on voluntary departures, early retirements, and long-term part-time arrangements "where appropriate" to achieve the planned workforce reduction and mitigate social impact, it said. "Airbus is facing the gravest crisis this industry has ever experienced," Chief Executive Guillaume Faury said in the statement. "The measures we have taken so far have enabled us to absorb the initial shock of this global pandemic. Now, we must ensure that we can sustain our enterprise and emerge from the crisis as a healthy, global aerospace leader, adjusting to the overwhelming challenges of our customers." American depositary shares of Airbus were fractionally higher in late trading Tuesday and shares of Boeing Co. fell more than 6%. Aircraft makers have struggled amid the pandemic as travel has slowed to a trickle and airline customers delay or forgo plane orders.
10:16 a.m. June 30, 2020
Authoritarian Spin Could Derail the Global Economy
Coronavirus denial is a classic authoritarian move. Unless there's a scientific breakthrough, it could wreck any chance of a global economic recovery.
Airbus to cut 5,000 jobs in France, 5,100 jobs in German and 1,700 jobs in the U.K.
10:14 a.m. June 30, 2020
8:46 a.m. June 30, 2020
12 European Stocks for the Second Half of 2020
Bet on health care, utilities, technology, and staples headed into what could be an uncertain second half, says J.P. Morgan.
6:43 a.m. June 30, 2020
- By Jeffrey D. Sachs
COVID-19 spreading fast in countries with lots of economic inequality It’s no coincidence that U.S., Brazil and Mexico account for about half of global deaths in the coronavirus pandemicWith few exceptions, the countries of North and South America are being ravaged by the coronavirus, because almost the entire Western hemisphere shares a legacy of mass inequality and pervasive racial discrimination.
1:33 p.m. June 29, 2020
Boeing 737 MAX Test Flights Are Set to Begin
The Federal Aviation Administration test flights are an important step in the recertification of the troubled MAX jet, grounded for more than a year. But the flights are just the first step of the process.
12:38 p.m. June 29, 2020
U.S. Stocks Jump Despite Grim Virus Milestones
Equities closed higher with Boeing and Apple helping to lift the Dow, and a new housing report signaling a recovery.
10:29 a.m. June 29, 2020
- Associated Press
France’s Macron pledges billions for climate after Greens make gains in latest election Travel produces 30% of greenhouse gases in France.French President Emmanuel Macron, who once declared “Make The Planet Great Again” but whose climate agenda got knocked off course by street protests, is under new pressure to fight climate change after the Green Party did well in Sunday’s local elections.
9:04 a.m. June 29, 2020
- By Jeffrey D. Sachs
Income and wealth inequality in the U.S. has fueled COVID-19 deaths ‘The U.S. is so unequal, politically divided and badly governed under President Trump that it has actually given up on any coherent national strategy to control the outbreak,’ says Jeffrey Sachs‘The U.S. is so unequal, politically divided and badly governed under President Trump that it has actually given up on any coherent national strategy to control the outbreak,’ says Jeffrey Sachs.
6:13 a.m. June 29, 2020
- Associated Press
Former French prime minister, wife found guilty of fraud Former prime minister Francois Fillon has been found guilty of using public funds to pay his wife $1.13 million since 1998 A Paris court on Monday found French former prime minister Francois Fillon guilty of having used public funds to pay his wife and children for work they never performed.
4:07 a.m. June 29, 2020
Barron’s Daily: Covid Cases Are Rising Faster Than Ever in the U.S.
A broader push for masks, another big advertiser halts spending on Facebook, the top CEOs of 2020, and other news to start your day.
11:03 p.m. June 28, 2020
Assa Abloy agrees divestments over Agta buySTOCKHOLM--Sweden's Assa Abloy AB said Monday it has agreed to sell certain businesses to address competition concerns of the EU Commission in connection with its previously announced acquisition of Swiss company Agta Record AG.
10:00 p.m. June 28, 2020
22 Second Wave-Proof European Stocks
Fears of a second coronavirus wave have mounted in recent days as a number of countries have reported rising case numbers, putting stocks under pressure.
5:51 p.m. June 28, 2020
- Associated Press
Grim coronavirus milestones: 10 million global cases, 500,000 deaths; Azar warns ‘the window is closing’ for U.S. to curb spread About a quarter of worldwide deaths are from U.S.Worldwide confirmed coronavirus infections hit the 10 million mark Sunday as voters in Poland and France went to the polls for virus-delayed elections.
10:11 a.m. June 28, 2020
- Associated Press
Rural U.S. states risk joining Florida, Arizona and Texas among viral hot spots as global COVID-19 cases hit 10 million Mike Pence calls off campaign events in Florida and Arizona as surges in infections prompt fear that U.S. has lost control of outbreakMike Pence calls off campaign events in Florida and Arizona as surges in infections prompt fear that U.S. has lost control of outbreak.