SpaceX is once again preparing to make history – the private spaceflight company is set to launch its Crew Dragon Demo-2 mission in collaboration with NASA today. The launch will take off from Cape Canaveral in Florida, and once again weather is a concern for today's launch window. SpaceX and NASA have an instantaneous launch window today, which means they only have the one shot to take off – if the weather isn't cooperating at 3:22 PM EDT, they'll have to re-attempt the launch again, with the next possible window set for tomorrow, Sunday May 31.
(Bloomberg) -- The EU called on the U.S. to reconsider its decision to quit the World Health Organization. German Chancellor Angela Merkel indicated she may not travel to the U.S. in June to attend a physical meeting of the Group of Seven leaders.India will start easing its lockdown in stages beginning June 8. Brazil overtook Spain to rank fifth in the world in coronavirus deaths, with no sign of easing in Latin America’s biggest economy.A front-running vaccine candidate being developed in China is expected to be available as soon as the end of this year, according to a report published in China.Key Developments:Virus Tracker: Cases top 5.9 million; deaths over 365,000Texas shows the world how to reopen cautiously—for nowEuropeans not feeling very hopeful about their economy just yetRace to the freezer: Europe’s food glut has nowhere to goHow China tested 11 million people in just two weeksBaseball on ESPN: Korea’s major league plays through pandemicBrits emerge from lockdown to find affordable dining threatenedSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. For a look back at this week’s top stories from QuickTake, click here.India to Ease Lockdown in Stages (8:52 a.m. NY)India announced a phased lifting of the nationwide lockdown by allowing malls, restaurants and places of worship to open from June 8, the interior ministry said in a statement.The country, which had enforced sweeping and strict stay-at-home orders from March 25, will limit the stringent rules to areas that have a large number of active cases. Authorities will decide to open schools and colleges in July, while international air travel will resume in the final phase. The exit plan comes even as India has been unable to flatten its curve despite the restrictions which have left its already troubled economy in deep disrepair. Merkel May Skip G-7 (8:42 a.m. NY)German Chancellor Angela Merkel indicated she may not travel to the U.S. in June to attend a physical meeting of the Group of Seven leaders, an event that President Donald Trump heralded as a great sign of “normalization.”“Given the current state of events, in view of the overall pandemic situation, she’s unable to confirm her personal participation,” a government spokesperson said in an emailed statement on Saturday. “She will continue to monitor further developments of the pandemic.”EU Urges U.S. to Reconsider WHO Decision (8:24 a.m. NY)The European Union called on the U.S. to reconsider its decision to terminate its relationship with the World Health Organization, which President Donald Trump has accused of being too deferential to China.“Global cooperation and solidarity through multilateral efforts are the only effective and viable avenues to win this battle the world is facing,” according to a joint statement Saturday from European Commission President Ursula von der Leyen and the bloc’s chief foreign envoy, Josep Borrell. “We urge the U.S. to reconsider its announced decision.”Portugal’s Virus Cases Slow (8:04 a.m. NY)Portugal reported 257 new coronavirus cases on Saturday, taking the total to 32,203, after recording more than 300 infections in each of the two previous days, the government said. The increase in new cases has been mostly in the greater Lisbon area and led the government on Friday to delay the planned reopening of malls in that region. The number of cases in intensive care units fell to 63 on Saturday, remaining at the lowest level since March.Italy to Open Travel Even for Lombardy (7:04 a.m. NY)Italy’s health minister confirmed the country can go ahead with the plan to start allowing travel across the nation next week, even as some regional governors oppose letting people from the hard-hit Lombardy region move freely.Data on the spread of the virus is improving and allows for the reopening among regions, Health Minister Roberto Speranza told newswire Ansa. The announcement came after a late night meeting with Prime Minister Giuseppe Conte and various coalition party representatives and ministers.Macau’s Economy Shrinks by Almost Half (6:46 a.m. NY)Macau’s economy posted a deeper contraction in the first quarter as lockdown measures introduced to contain the virus outbreak hit revenue from gambling, hotels, and tourism.Gross domestic product in Macau plummeted 48.7% in the first three months of 2020, according to the city’s statistics department. That is the fifth straight quarterly decline.Belgium’s Socialists Propose $41.7 Billion Stimulus (6:14 a.m. NY)Paul Magnette, the head of Belgium’s Socialist party, proposed a 37.6 billion-euro ($41.7 billion) stimulus package to combat the economic toll of the global pandemic, according to an interview with Le Soir. The aid would target catering, cultural and health-care industries, he said.Iran Reports Fewer New Cases (6:12 a.m. NY)Iran’s infection tally rose to 148,950 as the daily number of new cases dropped to 2,282 from 2,819 on Friday, the highest daily number of cases in eight weeks. The virus death toll reached 7,734 with 57 more deaths overnight.S&P Sees Abu Dhabi, Bahrain Economies Shrinking (5:20 p.m. HK)Abu Dhabi’s economy will contract 7.5% this year, S&P Global Ratings said, citing lower oil production and the pandemic.Bahrain’s economy will shrink 5% this year because of low oil prices, although government stimulus measures should provide some support, S&P said. The ratings company expects Bahrain’s economy to rebound in 2021 as oil prices recover and regional activity increases.Indonesia Gears Up for Post-Holiday Return (5:02 p.m. HK)Indonesia’s capital Jakarta is anticipating one million vehicles will enter the city as people return from Eid al-Fitr holidays. Traffic, including motorcycles, is projected to peak from Saturday to Monday, according to a Cabinet Secretariat statement. While the figure is lower compared to the 2.8 million vehicles recorded last year, the flow of so many travelers is raising concern as the nation’s coronavirus cases grow.Indonesia now has the highest coronavirus death toll in Southeast Asia, with 1,573 people succumbing to the disease as of Saturday. New cases have more than doubled in May, with the total reaching 25,773.Uzbekistan Extends Lockdown Restrictions (3:36 p.m. HK)The Uzbek government has decided to extend lockdown restrictions until June 15. Central Asia’s most populous nation has confirmed 3,513 cases of infection of the coronavirus, with 14 deaths and 2,728 recoveries.Singapore Reports 506 New Cases (3:30 p.m. HK)Singapore reported 506 new infections as of Saturday, according to a statement from its Health Ministry. A vast majority of the additional infections are of work permit-holders who live in foreign workers’ dormitories, according to the statement. The ministry is expected to provide additional details in the evening, it added.Chinese Vaccine Expected to Begin Mass Output This Year (3:25 p.m. HK)A front-running Covid-19 vaccine being developed in China is expected to be available as soon as the end of this year, according to a report published in the official Wechat account of the State-owned Assets Supervision and Administration Commission.The vaccine, jointly developed by the Beijing Institute of Biological Products and China National Biotec Group Co., has completed phase II testing and may be ready for the market at the end of this year or early next year, said the report.The production line for the vaccine will be fully disinfected and closed in preparation for output to start Saturday, and will have a manufacturing capacity of 100 million-120 million vaccines each year.Iran Lifts Restriction on Shopping Hours (2:26 p.m. HK)Iran has lifted a restriction on the operating hours of shopping malls in the latest step of reopening the economy. Meanwhile, all mosques in the country will be open to worshipers for daily prayers three times a day, President Hassan Rouhani said in a national coronavirus taskforce briefing broadcast on state TV.South Korea Has Outbreak at Distribution Center (1:46 p.m. HK)South Korea reported 39 new coronavirus cases in 24 hours as health officials seek to control a new outbreak at a distribution center for Softbank-backed Coupang Corp., an e-commerce company.A total of 108 infections are related to the center, the vice head of the Korea CDC said in a briefing. That tally includes 73 employees and 35 people who might have come into contact with the employees. A separate outbreak related to nightclubs in Itaewon, Seoul have increased to 269 infections as of Saturday, Kwon said.Most Australians Support State Border Closures (1:40 p.m. HK)The majority of Australians approve of states’ decisions to shut their borders amid the coronavirus crisis, according to a new poll.More than three in four Australians surveyed this week said they back the closures, including 40% who “strongly” support them, according to a release by The Australia Institute, a public policy group that commissioned the poll. One in five opposed the states’ measures.“The strong support for state border closures shows that while there is much public relief with some public health restrictions lifting, there is also still much community concern regarding the spread of Covid-19,” Ben Oquist, the institute’s executive director, said in the release.U.S. Supreme Court Rejects California Church (12:36 p.m. HK)A divided U.S. Supreme Court refused to exempt a San Diego church from crowd limits imposed by California to stop the spread of the coronavirus.Chief Justice John Roberts joined the court’s liberals in the 5-4 majority, writing that judges should be reluctant to second-guess state officials on questions of health and safety during a pandemic. The order came hours after the court refused to intervene on behalf of two Chicago-area churches that said Illinois coronavirus restrictions were so strict they violated the Constitution.Singapore, China to Allow Essential Travel Starting (9:42 a.m. HK)Singapore and China have agreed to allow essential travel for business and official purposes between the two countries in early June, according to a joint emailed statement.The Fast Lane arrangement will be first applied between Singapore and six Chinese provinces or municipalities directly under the central government, and will gradually expand to include additional areas. Covid-19 prevention and control measures will remain in place.The agreement comes as countries cautiously seek to begin so-called “travel bubbles” after the pandemic shut down borders. China, where the coronavirus first emerged, appears to have brought its cases under control, while Singapore is moving toward opening its economy after wrestling to contain an outbreak among thousands of foreign workers.China Cargo Ship Source of Two New Reported Infections (9:35 a.m. HK)Two crew members of a Chinese-registered cargo ship, Zhong Chang Rong Sheng, tested positive for Covid-19 in China’s Shandong Province after they arrived from India via Singapore, state television CCTV reported on its official Weibo account.The two Chinese nationals, and another crew member who hasn’t tested positive, have been hospitalized, while the remaining 19 people on board are still under quarantine on the vessel. It docked at Lanshan Port of Rizhao in Shandong province on May 27. The two infections are among four new coronavirus cases, all imported, reported by China.United Airlines Will Add Back International Flights in July (8:30 a.m. HK)United Airlines Holdings Inc. will add back some international flying in July, saying demand has “risen modestly” in some markets after the Covid-19 pandemic all but wiped out travel.Flights will resume or increase on 40 international routes in July, United said in a statement Friday. The Chicago-based airline will serve only 27 foreign routes in June. United has said its overall schedule will be down about 75% from a year earlier in July, compared with a 90% reduction currently.Germany, EU Reach Lufthansa Deal (7:15 a.m. HK)The German government worked out its differences with the European Commission over a 9 billion-euro ($9.9 billion) bailout of Deutsche Lufthansa AG, clearing the way for the rescue of Europe’s biggest airline to move forward.After intense talks, the commission and the German government agreed that Lufthansa will reduce its presence at airports in Frankfurt and Munich by four aircraft each. The accord, which the airline’s management said it would accept, would give a toehold to new competitors hoping to challenge the dominant German carrier on its home turf.Brazil Deaths Go Past Spain (6:30 a.m. HK)Brazil eclipsed Spain and now ranks fifth worldwide in coronavirus deaths with no sign the pandemic is slowing in Latin America’s largest economy. The country reported 1,124 new deaths Friday, pushing the total to 27,878, past Spain with 27,121. Brazil registered 465,166 cases, trailing only the U.S.Infections are reported in 70% of Brazilian cities, the Health Ministry said on Friday. Earlier this week, the ministry said the curve of cases was still growing, and a report by UBS published Wednesday said that six of Brazil’s 27 states are peaking, while total deaths are increasing in 21 states.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Younger investors generally seek growth from their stocks, and for good reason. While some retirees may have some room in their portfolios for risk-laden growth names, as a whole, most people looking to live off their savings and investments will want to overweight their holdings with less volatile dividend stocks. The average monthly Social Security check as of the beginning of this year was just a hair above $1,500, according to numbers from the AARP.
British American Tobacco (NYSE: BTI) is a London-based company, but its acquisition of Reynolds American in 2017 gave BAT the No. 2 position in U.S. cigarette market share. At this point, BAT's declines have made it look especially attractive to value investors, but prospective buyers want to know whether they're getting themselves into a value trap. Below, we'll look more closely at British American Tobacco and whether its stock is a good buy.
The U.S. stock market is firing on all cylinders, and that’s bullish for its near-term prospects. The five largest U.S. stocks by market capitalization are grabbing attention, but their performance doesn’t tell the whole story. Concentration of market cap in five stocks is not a recent phenomenon, as is clear from the accompanying chart.
(Bloomberg) -- The European Union plans to revamp its steel-import restrictions to guard against major market distortions as the bloc’s economy recovers from the effects of the pandemic.The proposed changes apply to EU import curbs introduced two years ago to prevent a controversial 25% U.S. levy on foreign steel from diverting global shipments to the European market and flooding it.The European “safeguard” measures involve a 25% tariff on EU imports of 26 types of steel ranging from stainless hot-rolled and cold-rolled sheets to rebars and railway material when the shipments exceed a three-year average. The planned overhaul stops short of quota cuts demanded by European producers.“It is fundamental that the gradual resumption of activity and return to normality take place in an orderly manner, in such a way that all participants in the EU steel market find their traditional place,” the Brussels-based European Commission, the bloc’s executive arm, said in a notice published on Friday evening. The changes are due to take effect on July 1.The coronavirus sent the European economy into a tailspin shortly after the commission in February began a routine review of the EU steel-import limits. Slumps in the region’s consumption and production of the metal sparked concerns about stockpiling in exporting countries such as China and a possible surge in shipments to Europe as national lockdowns are eased.“The proposed adjustments should deter any undue stockpiling behavior in the very early phases of the recovery that could empty the market in an opportunistic manner,” the commission said. “These opportunistic practices not only seriously endanger the obligation to preserve traditional trade flows in terms of origins, but also risk unduly displacing domestic production.”Following are the main planned changes to the EU’s management of the import limits, which are known as tariff-rate quotas, or TRQs:Move to quarterly management of all country-specific quotasReplacement of a global TRQ for hot-rolled flat products with the default system of combined country-specific quotas for the biggest traditional suppliers and residual quotas for the restIntroduction of a global TRQ for stainless steel hot-rolled sheets and stripsSplit of a TRQ for large welded tubes into two sub-TRQs -- one for tubes normally used in large engineering projects and the second for product types not used in such projectsEstablishment for countries that have exhausted their specific quotas of three regimes for accessing residual quotas (to replace the default scenario of access in the last quarter of a period): prohibition, limited and status quoFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Hormel reported a rise in sales as consumers snapped up products like Spam and Skippy during coronavirus lockdowns.
Tractor Supply is forecasting better-than-expected second-quarter sales and earnings, sending shares higher.
President Trump’s forceful anti-China speech Friday was the latest volley in a deepening conflict between the U.S. and China that have brought relations to possibly the lowest point since the normalization in 1979 and could serve as a prelude to Sino-American disputes taking center stage for markets once again, investors and analysts say.
Starting with the 2019 model year, the Cayenne is all new, now in its third generation. The car looks leaner, the engine’s more powerful, and is more efficient. Porsche dropped off the latest Cayenne S for Yahoo Finance to test.
The coronavirus has given Hollywood's unions renewed clout and a raft of challenges to deal with as the industry scrambles to get back to work.
Neil Cavuto spends 17 hours a week on air at Fox News Channel and Fox Business Network. Today, he is eager to take on one more. Cavuto, who is known for his coverage of the worlds of business and finance, will later this day turn to space, as many news outlets hope that a joint […]
For United Kingdom-based SB Motorsport (SBM), spare time finally opened up during the lockdowns that have resulted from responses to the coronavirus and COVID-19 pandemic. With some breathing room, the busy tuner finally announced a project it has been envisioning for a while: a 1,000-horsepower Nissan Navara with the engine and suspension from a GT-R. Via Autocar, SB Motorsport resides in Essex, U.K., and is most known for its Nissan GT-R drift car, seen in the video below.
Transplant Genomics, Inc. ("TGI") and Viracor announce the first available results from combining TruGraf® and TRAC™, which will be presented at the virtual 2020 American Transplant Congress (May 30 – June 1). The combination of these post-transplant rejection monitoring tests creates the first non-invasive liquid biopsy testing to cover both "silent" subclinical acute rejection (subAR) by gene expression profiling (TruGraf) and confirmation of clinical acute rejection (cAR) based on analysis of donor derived cell free DNA (dd-cfDNA) (TRAC). Data will be presented by speakers representing TGI, Viracor, and the transplant community during two lunch symposiums and a number of abstract sessions, including preliminary data on the novel application combining TruGraf and TRAC that suggest even greater discrimination of clinical phenotypes than using either technology independently.
Instagram is going to share some revenue with users. The move could generate billions in revenue for the Facebook (NASDAQ: FB) subsidiary and put it in greater competition with Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) YouTube for both talent and ad sales. For reference, YouTube generated $15 billion in gross revenue last year.
Don’t throw away that junk mail — or you might throw away your stimulus payment. The U.S. Treasury Department and the Internal Revenue Service began sending out Economic Impact Payments as prepaid debit cards last week. Problem is, these Visa cards are being issued by MetaBank (the Treasury’s financial agent) and delivered in plain envelopes from Money Network Cardholder Services — neither of which is a familiar name for most of us.
After a sharp run-up for U.S. stocks, rising tensions between Washington and Beijing could spark a round of near-term consolidation that could prove to be an entry point for investors, a prominent Wall Street bull said Friday.
This morning we're looking forward to a new Crew Dragon launch attempt from SpaceX and NASA, discussing 5G conspiracy rumors on the podcast and preparing for next week's PS5 event.
Fires burned unchecked and thousands protesting the police killing of George Floyd ignored a curfew as unrest overwhelmed authorities for another night in Minneapolis, and the governor acknowledged Saturday that he didn’t have enough manpower to contain the chaos.