GM snappily cuts pay by 20% for 69,000 salaried workers amid coronavirus pandemic

GM snappily cuts pay by 20% for 69,000 salaried workers amid coronavirus pandemic

General Motors on Thursday told its entire salaried workforce — about 69,000 employees — it will temporarily cut 20% of their salaries as the automaker attempts to save cash to weather the coronavirus crisis.The reduced pay, which begins Wednesday, will be repaid in a lump sum with interest no later than next March 15, according to…

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Dow futures rise 300 factors following a historical rebound as huge stimulus deal nears

Dow futures rise 300 factors following a historical rebound as huge stimulus deal nears

Stock futures were flat in overnight trading, following Tuesday’s historic rally, as investors awaited an unprecedented stimulus package to combat the economic impact of the coronavirus.Futures on the Dow Jones Industrial Average climbed about 30 points. The S&P 500 futures were little changed.The action in the futures market followed an epic comeback on Wall Street.…

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Board video games, yoga mats and yeast: What persons are buying for as they imprint coronavirus establish-at-house orders

Board video games, yoga mats and yeast: What persons are buying for as they imprint coronavirus establish-at-house orders

Young Man shopping in a supermarket, breathing through a medical mask.RealPeopleGroupIn the weeks since the U.S. confirmed its first case of COVID-19, consumer habits have been shifting. Medical masks, hand sanitizer, gloves and toilet paper have flown off shelves in the U.S., as more people began to look to protect themselves and prepare for long stints…

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Passengers, crew display conceal flu-love symptoms on Holland The United States cruise

Passengers, crew display conceal flu-love symptoms on Holland The United States cruise

Passengers on board the MS Zaandam, a Holland America Line cruise ship, have been asked to remain in their state rooms because several crew members and guests have begun exhibiting flu-like symptoms.These individual instances of sickness have not been confirmed as COVID-19 cases.Holland America confirmed to Business Insider that 13 guests and 29 crew members…

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Goldman Sachs gives CEO David Solomon big pay lift as Wall Avenue calls for bailouts: reports

Goldman Sachs gives CEO David Solomon big pay lift as Wall Avenue calls for bailouts: reports

Goldman Sachs CEO David Solomon received as massive pay raise on Friday. “Chief Executive David Solomon got a 19% raise in 2019, a message likely to resonate poorly among traders and bankers who saw their own bonuses cut and who are facing a long period of economic uncertainty,” The Wall Street Journal reported Friday. “Mr.…

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Warren Buffett’s Berkshire Hathaway could presumably well luxuriate in suffered $70 billion in coronavirus losses on its 10 ideal..

Warren Buffett’s Berkshire Hathaway could presumably well luxuriate in suffered $70 billion in coronavirus losses on its 10 ideal..

Chip Somodevilla / Getty Warren Buffett’s Berkshire Hathaway probably suffered about $70 billion in losses on its 10 biggest equity holdings during the coronavirus-driven market sell-off. The value of Berkshire’s stakes in Apple, Bank of America, and other blue-chip stocks dropped by an average of 37% between February 20 and March 18. Berkshire took a…

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Walmart cuts store hours except additional note in accordance to coronavirus pandemic

Walmart cuts store hours except additional note in accordance to coronavirus pandemic

Walmart Inc. will cut operating hours at its stores and Neighborhood Markets until further notice starting Sunday. Walmart WMT, +9.65% stores and the company’s Neighborhood Markets chain will be open from 6 a.m. to 11 p.m. The move affects 2,200 stores nationwide, though workers will keep their day and evening shifts, the company said. There…

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Data superhighway Services Won’t Reduce Off Customers Over Unpaid Funds for 60 Days

Data superhighway Services Won’t Reduce Off Customers Over Unpaid Funds for 60 Days

AT&T, Comcast and dozens of other telecommunications firms have committed to not disconnecting service to residential and small business customers who can’t pay their bills because of the coronavirus outbreak, the Federal Communications Commission said on Friday.The pledge the companies plan to implement also calls for them to open public Wi-Fi hot spots and waive…

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Stocks bounce after worst losses since 1987 fracture | TheHill

Stocks bounce after worst losses since 1987 fracture | TheHill

Stocks rose Friday morning after suffering their worst day of losses since the 1987 stock market crash, giving Wall Street a brief reprieve from a steep sell-off and dour outlook.The Dow Jones Industrial Average surged 1,000 points after trading opened Friday morning before settling with a gain of roughly 750 points, or 3.5 percent. The index closed with…

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Airline Shares Plunge Sharply After Trump Imposes Trail Limits

Airline Shares Plunge Sharply After Trump Imposes Trail Limits

The 30-day ban on most travelers from Europe because of the coronavirus fueled new concern for the industry. Norwegian is temporarily laying off half its staff.U.S. airline stocks tumbled in response to President Trump’s 30-day ban on most passenger travel from continental Europe.Credit…Landon Speers for The New York TimesMarch 12, 2020Updated 1:24 p.m. ETAirline stocks…

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Goldman says the bull market will cease quickly with shares losing one more 15%

Goldman says the bull market will cease quickly with shares losing one more 15%

Goldman Sachs’ top U.S. stock strategist said Wednesday that the longest U.S. bull market in history will meet its demise soon, with equities seeing significant losses beyond what they’ve already suffered over the last three weeks.David Kostin, chief U.S. equity strategist at Goldman, wrote that the historic fall in interest rates is unlikely to prevent…

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