Tag Archives: pandemic

Bloomberg God and Man Collide in Bill Hwang’s Dueling Lives on Wall Street (Bloomberg) — With the sun rising outside their conference room in Midtown Manhattan, the visitors to a secretive investment empire bent their heads in prayerful meditation.It was another Friday morning, 7 o’clock, and a familiar scene was unfolding again inside Archegos Capital Management, an obscure family office that would go on to shake the financial world.In the days before the pandemic, 20 or 30 people would… Source link

Rapid Response to Changes in Consumer Habits Virtual Events Will Continue Working From Home Will Continue Online Shopping is Now The Norm Companies have changed the way they do business since the pandemic. In a new report, Google forecasts which of those changes are here to stay. Citing search data to back up some of its predictions, Google says these pivots will become permanent: Using real-time tracking insights to rapidly respond to consumers. Holding virtual events. Working from home. Offering… Source link

Costco’s stock may be down 12% this year as investors fret about growth slowing down after months of consumers stocking up during the COVID-19 pandemic, but it’s unlikely the usually strong market performer will stay stuck in neutral for too long. That inevitability for Costco (COST) reflects several byproducts of the pandemic that play right into the hands of the warehouse giant’s very business model (and by extension, its bottom line), argues Wells Fargo analyst Edward Kelly. One is… Source link

Dalian Wanda, which acquired AMC Entertainment in 2012, surrendered control of the struggling exhibitor as it issued and sold tranches of new stock to raise cash — diluting the stake of the Chinese conglomerate. CEO Adam Aron confirmed the Wanda era was over although the company continues to be AMC largest single largest shareholder. Wanda holds less than 10% of the world’s biggest cinema chain. “They have been absolutely delightful,” he said on a post-earnings conference call… Source link

AMC Entertainment revenue plunged last quarter to $162 million from close to $1.5 billion the year before as the global pandemic squeezed exhibition. That beat expectations, coming about $20 million above Wall Street’s consensus estimates. The stock is up 3% in late trading. Net losses widened to $946 million, including a hefty one-time impairment charge, from $13.5 million the year before. For full-year 2020, AMC said it lost $4.58 billion vs. $149M loss in all of 2019. More from Deadline As… Source link

One year ago, on the eve of the eventful day that signaled the start of the COVID-19 pandemic — March 11, 2020 — a plurality of Americans (44 percent) said the threat of the virus had been “exaggerated,” according to a Yahoo News/YouGov poll conducted at the time. More people said their peers were “overreacting” (36 percent) than said they were “behaving appropriately” (30 percent). Just 6 percent said they had worn a mask. And nearly everyone (88 percent) predicted that… Source link

The New York Times Inside the Lincoln Project’s Secrets, Side Deals and Scandals A few days before the presidential election, the leadership of the anti-Trump Lincoln Project gathered at the Utah home of Steve Schmidt, one of the group’s co-founders, and listened as he plotted out the organization’s future. None of the dissident Republican consultants who created the Lincoln Project a year earlier had imagined how wildly successful it would be, pulling in more than $87 million in donations… Source link

People have been photographed packing a busy market in Brazil despite the country’s ongoing battle with Covid-19. Brazil has recorded more than 10.9 million cases of coronavirus resulting in more than 260,000 deaths, according to Johns Hopkins University data. The country recorded 75,000 new cases on Saturday alone with at least 1,800 deaths. The country is facing its deadliest stretch since the pandemic began due to a homegrown virus variant dubbed P1, but concerning images continue to… Source link

Experts’ fears that people in wealthier countries will be vaccinated before those in poorer nations are coming to fruition. And the inequity could further pressure the global economy, according to a recent study supported by the International Chamber of Commerce. “Should countries continue to pursue an uncoordinated approach to vaccine distribution, the world risks global GDP losses in 2021 alone of as much as US $9.2 trillion,” the study said. Health officials around the world have criticized… Source link

Reuters Bucks put winning streak on line against Clippers Giannis Antetokounmpo continues to key an offensive surge that has led to Milwaukee’s four-game winning streak. Antetokounmpo is averaging 35.5 points, 13.8 rebounds and six assists during the Bucks’ streak, and Milwaukee is averaging 132 points over their past three wins over the Sacramento Kings, Minnesota Timberwolves and New Orleans Pelicans. The Bucks, and the two-time league MVP, will try to keep their momentum going on Sunday… Source link