News From ZeroHedge, Page 2837

RSS

  • Pentagon IG Strikes Blow To Amazon, Rules $10B Award To Microsoft Was Proper

    ZeroHedge - Apr 15th 2020 10:42am EDT

    Pentagon IG Strikes Blow To Amazon, Rules $10B Award To Microsoft Was Proper The Defense Department’s Inspector General dealt a blow to Amazon Wednesday, after finding that the Pentagon’s decision to award a $10 billion cloud-computing contract to Microsoft was proper, and “consistent with applicable acquisition standards.” What’s more, the IG found no evidence that […]

  • WTI Extends Losses Below $20 After Record Surge In Crude Inventories

    ZeroHedge - Apr 15th 2020 10:37am EDT

    WTI Extends Losses Below $20 After Record Surge In Crude Inventories WTI crashed below $20 (tagging $19.20) overnight after API reported huge inventory builds and was not helped by comments from the International Energy Agency that a historic production cut deal won’t be enough to counter a record demand slump this year. This appears to […]

  • BofA Shows How Consumer Spending Changed Every Day Over The Past Month

    ZeroHedge - Apr 15th 2020 10:29am EDT

    BofA Shows How Consumer Spending Changed Every Day Over The Past Month Earlier this morning, the Dept of Commerce reported that March retail sales saw the biggest sequential drop on record, and biggest annual decline since the financial crisis. Which was to be expected: with the US economy shutting down and Americans forced to isolate […]

  • Bank of Canada Announces Provincial, Corporate QE

    ZeroHedge - Apr 15th 2020 10:14am EDT

    Bank of Canada Announces Provincial, Corporate QE While the Bank of Canada kept its overnight rate at 0.25% as expected – as the alternative after three consecutive rate cuts would have been to cut below its effective lower bound of 0.25% and go NIRP – the central bank did surprise markets by joining the unprecedented […]

  • Homebuilder Sentiment Collapses As Mortgage Purchase Apps Plunge To Lowest In 5 Years

    ZeroHedge - Apr 15th 2020 10:05am EDT

    Homebuilder Sentiment Collapses As Mortgage Purchase Apps Plunge To Lowest In 5 Years While overall mortgage applications rose 7.3% week-over-week, thanks to a 10.1% surge in refinancings, the Mortgage Bankers Association report this week shows that home purchase applications have plunged to their lowest since 2015… Source: Bloomberg “The 30-year fixed mortgage rate decreased last […]

  • Gilead Shares Slide As China Cancels Another Remdesivir Study

    ZeroHedge - Apr 15th 2020 9:30am EDT

    Gilead Shares Slide As China Cancels Another Remdesivir Study Over the weekend, a headline out of mainland China caught our eye, even as it was seemingly ignored by the broader mainstream press: a day earlier, Gilead had announced that health authorities in Beijing had shuttered a trial of Gilead’s remdesivir, one of the earliest ‘miracle […]

  • US Industrial Production Crashes By Most Since End Of World War II

    ZeroHedge - Apr 15th 2020 9:21am EDT

    US Industrial Production Crashes By Most Since End Of World War II After surviving February (before COVID) with a modest MoM rise, US Industrial Production plunged 5.4% MoM (considerably worse than the 4.0% drop expected and the worst MoM since Jan 1946)… Also, after briefly turning positive YoY in February, March Industrial Production is down […]

  • Elizabeth Warren Endorses Biden

    ZeroHedge - Apr 15th 2020 9:12am EDT

    Elizabeth Warren Endorses Biden Sen. Elizabeth Warren (D-MA) has officially endorsed Joe Biden – tweeting her support along with a short video on Wednesday. “In this moment of crisis, it’s more important than ever that the next president restores Americans’ faith in good, effective government—and I’ve seen Joe Biden help our nation rebuild,” said Warren. […]

  • Retail Icon JC Penney Prepares To File For Bankruptcy Protection

    ZeroHedge - Apr 15th 2020 9:05am EDT

    Retail Icon JC Penney Prepares To File For Bankruptcy Protection Roughly one week after the first reports were published about the Plano Texas-based department store exploring a Chapter 11 filing surfaced, JC Penney is officially filing for bankruptcy, sending its battered shares sliding even lower. Reuters revealed late last night that a filing is imminent […]

  • US Answers China Provocations In Show of Force ‘Elephant Walk’ Of B-52 Bombers In Guam

    ZeroHedge - Apr 15th 2020 8:51am EDT

    US Answers China Provocations In Show of Force ‘Elephant Walk’ Of B-52 Bombers In Guam Days after China conducted a military drill with fighter jets and an aircraft carrier near Taiwan, the US Air Force conducted its own ‘show of force’ demonstrating defense readiness with an ‘elephant walk’ of bombers on Anderson Air Force Base in […]

  • Here Comes The Depression: Empire State Manufacturing Crashes Most Ever To -78, Lowest In History

    ZeroHedge - Apr 15th 2020 8:43am EDT

    Here Comes The Depression: Empire State Manufacturing Crashes Most Ever To -78, Lowest In History This is what a depression looks like. With Wall Street already expecting a catastrophic Empire Fed manufacturing index print of -35, just shy of the lows hit during the financial crisis, moments ago the NY Fed reported that New York […]

  • US Retail Sales Crash By Most Ever In March, Despite Hoarding

    ZeroHedge - Apr 15th 2020 8:39am EDT

    US Retail Sales Crash By Most Ever In March, Despite Hoarding While it is not entirely surprising given that practically all of America is under lockdown and the consumption-focused services sector is particularly distressed, US retail sales crashed 8.7% MoM in March (against expectations of a 8.0% drop) Source: Bloomberg Year-over-year, headline retail sales crashed […]

  • Luongo Rages: #FireFauci Should Be The Rallying Cry For A Generation

    ZeroHedge - Apr 15th 2020 8:29am EDT

    Luongo Rages: #FireFauci Should Be The Rallying Cry For A Generation Authored by Tom Luongo via Gold, Goats, ‘n Guns blog, I’m done mincing words. I’m done giving people the benefit of the doubt. Whenever I do that The Davos Crowd and their highly placed agents make me look like a virtue-signaling fool. Fire Anthony Fauci now. […]

  • BofA Profit Plunges 45% On $4.8 Billion In Expected Credit Losses From Coronacrisis

    ZeroHedge - Apr 15th 2020 8:18am EDT

    BofA Profit Plunges 45% On $4.8 Billion In Expected Credit Losses From Coronacrisis Bank of America joined JPMorgan and Wells Fargo in setting aside billions of dollars for upcoming loan losses as the bank braces for a surge in defaults and delinquencies on its loans amid the complete US economic shut down. The bank reports […]

  • Global Coronavirus Cases On The Cusp Of 2 Million; Critics Outraged As Trump Prints Name On Stimulus Checks: Live Updates

    ZeroHedge - Apr 15th 2020 8:01am EDT

    Global Coronavirus Cases On The Cusp Of 2 Million; Critics Outraged As Trump Prints Name On Stimulus Checks: Live Updates In a decision that is angering virtually all of his political opponents and even many of his supporters, who are bristling at the notion of a White House deliberately delaying badly needed checks, the Washington […]

  • Why Is Hunter Biden Still Listed As Board Member Of Chinese Company He Vowed To Resign From?

    ZeroHedge - Apr 15th 2020 7:55am EDT

    Why Is Hunter Biden Still Listed As Board Member Of Chinese Company He Vowed To Resign From? Hunter Biden is many things. Ukrainian energy expert, artist, stripper impregnator, crack aficionado. Oh, and he’s still a board member of a Chinese private equity firm he said he’d resign from last October, according to Chinese business records […]

  • Global Markets Tumble Amid Dismal Earnings After WTI Crashes To 18 Year Low

    ZeroHedge - Apr 15th 2020 7:34am EDT

    Global Markets Tumble Amid Dismal Earnings After WTI Crashes To 18 Year Low US index futures slumped on Wednesday for a second time this week, reversing Tuesday’s sharp gains after a plunge in oil prices pressured energy stocks ahead of what is expected to be a dismal round of first-quarter earnings reports. The dollar and […]

  • Cass Freight Index Showed Economic Weakness Way Before The Pandemic

    ZeroHedge - Apr 15th 2020 6:00am EDT

    Cass Freight Index Showed Economic Weakness Way Before The Pandemic Authored by Mike Shedlock via MishTalk, Numerous freight charts point to a weakening economy months before the coronavirus hit. I Hear the Train a Comin’ Covid19 will take all of the blame, but freight indicators show a recession was on the way even without that […]

  • Ford Scrambles To Raise Money As Dwindling Cash Balance Becomes A Focus

    ZeroHedge - Apr 15th 2020 5:30am EDT

    Ford Scrambles To Raise Money As Dwindling Cash Balance Becomes A Focus Ford, already in a precarious position from the pandemic shutdown and an auto market that was in recession prior to the coronavirus, is now starting to look at options to raise cash. On Monday, Ford said it expects to report a loss later this […]

  • Turkey Plans To Send Fresh Wave Of COVID-Infected Migrants To Europe, Report

    ZeroHedge - Apr 15th 2020 5:00am EDT

    Turkey Plans To Send Fresh Wave Of COVID-Infected Migrants To Europe, Report Authored by Paul Joseph Watson via Summit News, Voice of America reports that Turkey’s President Recep Erdogan is planning to send a fresh wave of migrants to Europe, with officials fearing many of them will be infected with coronavirus. “Greek forces are on […]

  • “Wasted” – 50 Million Pints Down The Drain Unless UK Pubs Reopen By Summer

    ZeroHedge - Apr 15th 2020 4:15am EDT

    “Wasted” – 50 Million Pints Down The Drain Unless UK Pubs Reopen By Summer Britain remained in a nationwide lockdown in mid-April as virus-related deaths and confirmed cases climb. A crashed economy and high unemployment risk sending the country into depression. Non-essential businesses, like pubs, have been shuttered for nearly a month. BBC News is […]

  • Flattening The Curve Or Flattening Bellies? Africa’s COVID-19 Dilemma

    ZeroHedge - Apr 15th 2020 3:30am EDT

    Flattening The Curve Or Flattening Bellies? Africa’s COVID-19 Dilemma Authored by Michael Gyekye via The Mises Institute, African governments have joined the global lockdown bandwagon as they press for an urgent halt to the spread of the COVID-19 pandemic. With more than ten thousand cases and hundreds of deaths to date, many on the continent believe that […]

  • 65% Of Greek Hotels Face Bankruptcy As Lockdowns Continue

    ZeroHedge - Apr 15th 2020 2:45am EDT

    65% Of Greek Hotels Face Bankruptcy As Lockdowns Continue The Greek tourism industry has collapsed in the wake of the COVID-19 pandemic and on track to lose at least 50% of its revenues in 2020, said Grigoris Tasios, President of the Greek Hoteliers Association, who spoke with the Greek Reporter last week. The Hellenic Chamber […]

  • Will Quiet Middle East Last? Or Is It Lull Before Next Storm?

    ZeroHedge - Apr 15th 2020 2:00am EDT

    Will Quiet Middle East Last? Or Is It Lull Before Next Storm? Authored by Martin Sieff via The Strategic Culture Foundation, Across the Middle East, the coronavirus is stirring up both upheavals and more subtle changes from Tel Aviv to Riyadh, little reported and when covered little understood in the Western media. In Israel, the […]

  • US Flexes Military Might Near Russian Forces In Provocative F-35 Flight Over Syria

    ZeroHedge - Apr 15th 2020 1:00am EDT

    US Flexes Military Might Near Russian Forces In Provocative F-35 Flight Over Syria Via AlMasdarNews.com, The U.S. military flew their new F-35 stealth jet over Syria’s skies this past week, as they display their strength in front of the Russian Armed Forces who are only a few kilometers away from the American troops in the eastern Euphrates […]