Every third dollar changing hands on Singapore Exchange is because of someone buying or selling units in a real estate investment trust. But has the city’s REIT mania gone a bit too far?
Stock futures opened slightly lower Wednesday evening, pausing after a rally sent US equities to their highest level in three months.
The Senate on Wednesday passed legislation to make it easier for businesses struggling during the coronavirus pandemic to take advantage of a payroll subsidy program that's been a central part of Washington's response to the corresponding economic crisis. The Senate passed the bill by voice vote after a handful of GOP opponents gave way. The measure now heads to President Donald Trump for his expected signature.
Job losses from the COVID-19 crisis risk exacerbating the housing inequality faced by black communities, as millions of Americans face missed rent payments and the increasing threat of eviction.
Leaders of the Mandan, Hidatsa and Arikara Nation in North Dakota and others are challenging a Department of Interior opinion rolling back an Obama-era memo stating that mineral rights under the original Missouri River bed should belong to the Three Affiliated Tribes. The memo filed May 26 by Daniel Jorjani, solicitor for the department, said a review by Historical Research Associates, Inc. shows the state is the legal owner of submerged lands beneath the river where it flows through the Fort Berthold Reservation.
The Nashville, Tennessee-based company said it had a loss of 34 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 42 cents per share. The results beat Wall Street expectations.
Greif Inc. GEF) on Wednesday reported fiscal second-quarter net income of $11.4 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Delaware, Ohio-based company said it had net income of 19 cents.
Stocks rallied again on Wall Street Wednesday, and the S&P 500 climbed back to where it was just one week after it set its all-time high earlier this year. The S&P 500 rose for a fourth straight day and climbed back within 8% of its record set in February as lockdowns loosen around the world and raise hopes for a coming economic recovery. Treasury yields also strengthened in a sign of improved confidence after several reports suggested that while the U.S. economy is still getting pummeled, it may not be as bad as economists had feared.
Germany's governing parties agree on $146 billion stimulus package to revive economy hit by coronavirus pandemic.
Gilat Satellite Networks Ltd. (GILT) on Wednesday reported a first-quarter loss of $11.8 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Petah Tikva, Israel-based company said it had a loss of 21 cents. Losses, adjusted for non-recurring costs and stock option expense, were 15 cents per share.
MOUNTAIN VIEW, Calif. (AP) _ Elastic NV (ESTC) on Wednesday reported a loss of $31.2 million in its fiscal fourth quarter. The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
Lyft Inc. up $2.76 to $34.44 The ride-hailing company said business improved in May with a 26% increase in rides from April. The Cheesecake Factory Inc.
Stocks extended gains Wednesday as investors set their sights on more plans to reopen businesses in the near-term.
The best offices have meditation rooms and gourmet lunches. A high-end apartment building might have a dog park. But tenants and building owners have a new priority amenity: clean air.
SAN MATEO, Calif. (AP) _ Guidewire Software Inc. (GWRE) on Wednesday reported a loss of $31 million in its fiscal third quarter. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
“[Our] problems as a nation run much deeper than one horrible event,” McMillon said, adding, “Until, we as a nation, confront and address these hard realities, we will never achieve the best of what we can be.”
Fossil Group Inc. FOSL) on Wednesday reported a loss of $85.6 million in its first quarter. On a per-share basis, the Richardson, Texas-based company said it had a loss of $1.69.
After 78 days of historic quiet, cards will be cut, dice will roll and jackpots can jingle again 12:01 a.m. Thursday at casinos in Las Vegas and throughout Nevada. “There’s a tremendous amount on the line, not only for casinos, but for the community and the state,” said Alan Feldman, a longtime casino executive now a fellow at the International Gaming Institute at the University of Nevada, Las Vegas.
Comtech Telecommunications Corp. CMTL) on Wednesday reported a fiscal third-quarter loss of $4 million, after reporting a profit in the same period a year earlier. The Melville, New York-based company said it had a loss of 16 cents per share.
Benchmark U.S. crude oil for July delivery rose 48 cents to settle at $37.29 a barrel Wednesday. Brent crude oil for August delivery rose 22 cents to $39.79 a barrel. Wholesale gasoline for July delivery was little changed at $1.12 a gallon.
A malaria drug President Donald Trump took to try to prevent COVID-19 proved ineffective for that in the first large, high-quality study to test it in people in close contact with someone with the disease. Results published Wednesday by the New England Journal of Medicine show that hydroxychloroquine was no better than placebo pills at preventing illness from the coronavirus. The drug did not seem to cause serious harm, though -- about 40% on it had side effects, mostly mild stomach problems.
Snapchat will stop “promoting” President Donald Trump on its video messaging service, the latest example of a social media platform adjusting how it treats this U.S. president. Last week, Twitter placed fact-check warnings on two Trump tweets that called mail-in ballots “fraudulent” and predicted problems with the November elections. It demoted and placed a stronger warning on a third tweet about Minneapolis protests that read, in part, that “when the looting starts the shooting starts.”
A former president of the United Auto Workers pleaded guilty Wednesday to conspiring with others to embezzle dues to pay for golf trips, expensive meals and stays at California villas — the most significant conviction yet in a scandal that has roiled the union. Gary Jones, who appeared by video in federal court in Detroit, acknowledged that he falsified expenses from 2012 to 2017 when he was a regional UAW director in St. Louis. The first wave of convictions, which included some Fiat Chrysler employees, involved money from a Fiat Chrysler-UAW training center in Detroit.
People injured by the powerful prescription painkiller OxyContin have another 30 days to file legal claims against the manufacturer. A federal bankruptcy judge on Wednesday agreed to extend the filing deadline to July 30. Purdue Pharma and some of the governments suing the company requested the extension because the coronavirus pandemic might have prevented some people from making claims by the original deadline.