Month: August 2020
Salesforce CEO calls coming job cuts ‘part of running business in a successful way’
Salesforce (CRM), coming off a massive second quarter and poised to be added to the Dow Jones Industrial Average, is like all other businesses operating in a pandemic — having to make “difficult decisions” like cutting headcount, CEO Mark Benioff told Yahoo Finance. The billionaire explained that job cuts, especially during a pandemic, is part
![Kansas City Fed President Esther George speaks with Yahoo Finance [Transcript]](https://s.yimg.com/uu/api/res/1.2/kIB0HX0uIZdeNES5C7Fopg--~B/aD0xMDgwO3c9MTkyMDtzbT0xO2FwcGlkPXl0YWNoeW9u/https://media-mbst-pub-ue1.s3.amazonaws.com/creatr-uploaded-images/2020-08/876b4da0-e714-11ea-b3bf-ad8943fc0fb8 "Kansas City Fed President Esther George speaks with Yahoo Finance [Transcript]")
Signs of recovery? U.S. business activity and home sales surge
By Dan Burns (Reuters) – In signs an economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July, and purchasing managers in both the manufacturing and services sectors report business activity has accelerated at a brisker-than-expected pace this month. With mortgage rates holding
WRAPUP 1-Signs of recovery? U.S. business activity and home sales surge
By Dan Burns Aug 21 (Reuters) – In signs an economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July, and purchasing managers in both the manufacturing and services sectors report business activity has accelerated at a brisker-than-expected pace this month. With mortgage
Jack Ma’s Ant Group to Plan Consumer Finance Firm
(Bloomberg) — Jack Ma’s Ant Group is planning to create a new consumer finance company to bolster its market share in the country’s fast growing online lending industry. Ant is working with Nanyang Commercial Bank Ltd., China TransInfo Technology Corp. and Contemporary Amperex Technology Co. to build a consumer finance platform that will focus on
Commodity traders face rising finance costs as big banks pull out
* Sector rocked by ABN Amro withdrawal from trade finance * Banks spooked by commodity trader defaults and frauds * Costs will rise as funds, bonds will not fill void By Julia Payne LONDON, Aug 14 (Reuters) – Commodity trade financing by the world’s banks is drying up at a rate not seen in more
German Finance Ministry proposes blockchain-based solution to digitize securities in draft bill
The finance ministry of Germany, Federal Ministry of Finance (BMF), released a draft bill on the introduction of electronic securities (eWpG) on Tuesday, and it includes a blockchain solution to digitize securities. The bill would revamp both the German securities law and the corresponding supervisory law with a focus on blockchain strategy, according to a
Universities that reject ‘business as usual’ have best chance of surviving COVID-19
Businesses — whether large or small, or whether they are healthcare, educational cultural or recreational institutions — all have been tragically affected by COVID-19. For colleges and universities, the beginning of the fall semester will be especially challenging. Even prior to the onset of the coronavirus, many universities and colleges were confronted with dire challenges,
Malaysia’s ex-finance minister, wife charged with graft
PENANG, Malaysia (AP) — Malaysia’s former finance minister accused the government of taking political vengeance Tuesday after a third graft charge was filed against him and his wife was charged with money laundering. Lim Guan Eng was part of a reformist government ousted in March and the new government under Prime Minister Muhyiddin Yassin is
Staff still shun London’s ‘ghost town’ finance hubs
Deserted streets, empty restaurants, shuttered stores: London’s financial districts remain largely abandoned by workers still worried about the pandemic and reluctant to return to office life. The City, a square mile in the heart of the British capital traditionally home to the finance industry, was eerily quiet over the past week, with just a smattering
Sustainable Finance Sees Big-Tech Boom After Record Google Deal
(Bloomberg) — Technology giants may join the rush to sustainable finance after this week’s record bond sale from Google parent Alphabet Inc. Issuance aligns with growing investor focus on social and environmental matters, and it’s being done at very low rates. “You’re going to see tech companies continue to follow this model,” said Scott Kimball,
BNP Halts New Commodity Trade Finance Deals as It Reviews Unit
(Bloomberg) — BNP Paribas SA has suspended new commodity trade finance deals while it reviews its involvement in the business in Europe, Middle East and Africa, according to people familiar with the matter. The French bank, one of the largest lenders to global commodity traders, has recently told clients that no new deals will be
What to Look Out for
Wall Street expects a year-over-year decline in earnings on lower revenues when WhiteHorse Finance (WHF) reports results for the quarter ended June 2020. While this widely-known consensus outlook is important in gauging the company’s earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
Meet the 20-year-old founder of @WallStreetConfessions, an Instagram account that’s become an open forum to discuss the dark side of finance and gathered followers including the CEO of Jefferies
Riya Sharma, 20, the founder of the @WallStreetConfessions account on Instagram, explained how she’s using her platform to advocate for women and minorities on Wall Street. Dora Sherzad Riya Sharma is the founder of @WallStreetConfessions, an Instagram account that shares caustic quotes about life in finance, and posts anonymous submissions of instances of sexism, racism,