BI Prime Tech 2020-03-05T22:42:53Z
Roelof Botha

'Brace for turbulence': Silicon Valley VC firm Sequoia Capital calls coronavirus the 'Black Swan of 2020' that every startup founder needs to prepare for

Silicon Valley VC firm Sequoia Capital advised startup founders to prepare for a variety of business disruptions and challenges because of the coronavirus.
Markets 2020-03-05T22:09:00Z
FILE PHOTO: U.S. President Donald Trump speaks during a news conference on the coronavirus outbreak at the White House in Washington, U.S., February 29, 2020.  REUTERS/Joshua Roberts

The White House balks at recession fears as coronavirus outbreak hits US economy

Interest rates have been a focus in White House discussions on plans for economic relief amid the outbreak, a senior administration official said.
Markets 2020-03-05T21:21:41Z
A Carnival cruise ship

Cruise giant Carnival has seen its market value plunge by nearly 50% since the coronavirus outbreak started

The outbreak has dragged heavily on the tourism and travel sectors as itineraries are scrapped and companies halt non-essential travel.
Markets 2020-03-05T21:10:00Z

Dow slides 970 points as coronavirus continues to hit fear-filled markets

Stocks extended declines after California declared a state of emergency following its first virus-related death.
Markets 2020-03-05T20:06:14Z

US stocks could fall another 11% into bear market territory if coronavirus continues to hit global growth, MSCI says

"Investors may turn more risk-averse and demand a higher premium to compensate them for the additional risk they are taking on," MSCI wrote.
BI Prime Tech 2020-03-05T19:07:14Z

Amazon's advertising boss now reports directly to Jeff Bezos, a change that shows how serious of a threat it is to Google's and Facebook's core business

The head of Amazon's advertising unit, Paul Kotas, is now one of the 12 direct reports under CEO Jeff Bezos, Business Insider has learned.
Markets 2020-03-05T18:51:29Z

Here are 3 previously unthinkable ideas Elizabeth Warren thrust into the mainstream before ending her 2020 campaign

She thrust the wealth tax, student debt reduction, and universal childcare into the political mainstream with a campaign defined by progressive plans.
BI Prime Markets 2020-03-05T18:16:00Z
Markets 2020-03-05T18:16:00Z

Short-sellers reaped $51 billion in just 7 days as markets tanked on coronavirus panic

"Short side winners clearly outpaced losers, with over five profitable shorts to every one losing position," Ihor Dusaniwsky of S3 wrote.
Enterprise 2020-03-05T18:15:50Z

SAP has cancelled all in-person events and says bookings on its Concur travel platform is down 20% due to coronavirus crisis

SAP said it has seen a 20% drop in transactions on its Concur travel management platform. The tech giant has cancelled all in-person events.
BI Prime Markets 2020-03-05T18:13:13Z

One of the world's best large-cap investors calls these 3 companies some of his top bets — because he thinks they'll grow profits twice as fast as the broader market

Ken Stuzin of Brown Advisory has a unique view on how to pick high-growth stocks and sticks to a rigid strategy.
BI Prime Tech 2020-03-05T17:56:04Z

Activist hedge fund Elliott Management's attack on Jack Dorsey is the first shot in brutal new reality for tech founder CEOs who have lost their protective halo

The scrutiny directed at Twitter's Jack Dorsey and Box's Aaron Levie indicates that public investors' deference to tech founder CEOs is waning.
BI Prime Finance 2020-03-05T16:58:08Z

Morgan Stanley is moving about half of its Wall Street traders to its disaster-recovery site outside NYC to prep for the coronavirus spread

The New York bank's plans come days after it halted employees' nonessential international travel amid the outbreak.
BI Prime Markets 2020-03-05T16:57:52Z

Here are 10 must-listen podcasts that can help you master investing, from day-trading to real estate

These podcasts are changing the conversation around money and pushing the industry forward — and they frequently feature huge names.
Finance 2020-03-05T16:22:20Z

'Interesting tightrope to be on': PayPal's credit chief balances coronavirus threat against healthy consumer demand

"It's really weird to see how strong the consumer is and how volatile everything still is," Esch said.
Markets 2020-03-05T15:34:25Z

These 3 hedge fund giants dominated through February's steep coronavirus sell-off

Hedge funds seek to post gains during both market jumps and declines, though not all firms outperformed the S&P 500 through the chaotic month.
Markets 2020-03-05T14:52:28Z

Here's how one expert says the Fed's emergency rate cut could create a toxic situation where higher prices conflict with coronavirus-stricken growth

"The biggest risk right now is the stagflationary environment where we have these higher prices coupled with lower growth," Davis said.
Markets 2020-03-05T14:42:43Z

'Money and life and death': Larry Summers calls for 4 economic policies to combat coronavirus

The former US Treasury Secretary wants accessible credit, tariff cuts, government spending, and multinational aid.
Markets 2020-03-05T13:45:30Z

Bill Ackman says he's preparing his fund for the worst as the coronavirus sends markets spinning

"Efforts to contain the coronavirus are likely to have a substantial negative impact on the U.S. and global economies," Ackman said.
Markets 2020-03-05T13:15:23Z

These 4 policy tools have been used by central banks and organizations to fight the economic fallout from coronavirus

The Federal Reserve was among the first authorities to boost stimulus amid the escalating virus by cutting its benchmark interest rate Tuesday.
BI Prime Markets 2020-03-05T13:08:00Z

JPMORGAN: Coronavirus fears are causing the bond market's biggest shake-up since the financial crisis. Here's a novel strategy to prepare for future turmoil and detect the next recession.

The bank's head of US interest rate derivatives strategy shares an approach that has previously sniffed out economic downturns.
BI Prime Finance 2020-03-05T13:00:00Z

JPMorgan is warning novice private-credit investors what a downturn means in the lending game, and it shows how quickly coronavirus could upend debt investing

David Lebovitz, JPMorgan's global market strategist, said "you have a lot of first-time players" who haven't been lending during a economic downturn.
Markets 2020-03-05T12:44:38Z

10 things you need to know before the opening bell

This is what traders are talking about.
News 2020-03-05T10:15:52Z

As the coronavirus spreads, one study predicts that even the best-case scenario is 15 million dead and a $2.4 trillion hit to global GDP

A group of Australian researchers estimate that the coronavirus may have severe consequences on the global GDP.
Tech 2020-03-04T23:24:13Z

Apple is telling retail store workers to expect a limited supply of replacement iPhones for the next several weeks

Employees at the Apple's retail stores were warned that replacement iPhones could be in short supply for weeks, according to Bloomberg.
Enterprise 2020-03-04T22:32:32Z

Zoom, the hot video-conferencing startup that's helping remote workers amid the spread of coronavirus, is asking employees at its San Jose HQ to work from home

Zoom's stock has soared amid the coronavirus outbreak — and now it's taking measures to help its own employees.
Markets 2020-03-04T21:19:05Z

Trump claims investors 'don't like Joe,' even as stocks post huge gains following Biden's Super Tuesday triumph

The Dow Jones Industrial Average surged over 1,000 points following Biden's string of victories on Super Tuesday.
Markets 2020-03-04T19:03:47Z

Paid sick leave could help prevent the spread of coronavirus — but 18 states bar local governments from enacting it

The lack of sick pay increases the odds that people will work while ill during the coronavirus outbreak since they can't afford a smaller paycheck.
Politics 2020-03-04T16:23:53Z

AOC says that ensuring access to free coronavirus testing and treatment is 'absolutely' an 'argument for Medicare for All'

"What this crisis has taught us is that, our health care system and our public health are only as strong as the sickest person in this country."
BI Prime Strategy 2020-03-04T14:40:00Z

An Accenture employee in China has been diagnosed with coronavirus, internal memo states

Julie Sweet, consulting firm's CEO, wrote in a memo that more than 100 Accenture employees in China and Italy have been quarantined.
Markets 2020-03-04T12:36:43Z

10 things you need to know before the opening bell

This is what traders are talking about.
Opinion 2020-03-03T20:31:23Z

The Fed's move to cut interest rates to soften the economic blow from the coronavirus was a panic move, which is why the market's positive reaction was short-lived

The Federal Reserve did its best to blunt the potential economic blow from the coronavirus by slashing interest rates, but it's unlikely to be enough.
Opinion 2020-03-03T18:48:54Z

The Federal Reserve's coronavirus-driven interest rate cut was exactly the right move

The Federal Reserve's decision to cut interest rates in response to worries about the coronavirus will help cushion the US economy from the shock.
Tech 2020-03-03T18:26:00Z

Robinhood is facing a major outage for the 2nd day in a row as outrage builds

Robinhood said service was restored in an email to users Tuesday morning. But by 10 a.m., it was experiencing a major outage again.
Markets 2020-03-03T16:28:44Z

Trump demands even lower rates less than an hour after the Fed's first emergency cut since 2008

He called on the Fed to "LEAD" with "more easing and cutting" in a tweet after the Fed slashed interest rates on Tuesday.
Strategy 2020-03-03T14:39:00Z

6 American jobs most at risk of coronavirus exposure

Medical professionals, first responders, and service workers are all at risk of being exposed to illnesses like the coronavirus.
BI Prime Finance 2020-03-03T13:30:00Z

Market volatility has returned and so could faith in the value investing ethos embraced by billionaire Seth Klarman. His legendary, out-of-print book explains why he never listens to the market either way.

Baupost Group founder Seth Klarman wrote in his rare out-of-print book back in 1991 that value investors need to have "unusually strict discipline."
Markets 2020-03-03T13:11:00Z

A large majority of Americans are worried the economy will take a massive hit from the coronavirus

A new Business Insider poll found that 78% of Americans expressed concern that the coronavirus would damage the American economy.
BI Prime Markets 2020-03-03T13:08:00Z

From the investing club at Notre Dame to a hedge fund managing millions: Here's how two 20-somethings are defying traditional stock-market logic in order to crush peers

"A bunch of people at the 11th hour got cold feet and were like: 'Are we really going to give these 23 and 24 year old kids money?'"
Markets 2020-03-03T13:02:44Z

Morgan Stanley: 78% of investors expect stocks to tumble during the first 3 three months under a Democratic president

"Uncertainty associated with the election will act as a limiting factor" on US business investment and the market, Wilson said.
Markets 2020-03-03T11:57:23Z

10 things you need to know before the opening bell

This is what traders are talking about.
Markets 2020-03-03T10:10:36Z

'Ease and cut rate big': Trump pressures Fed to slash interest rates as coronavirus threat grows

President Donald Trump called on Fed Chair Jerome Powell to take action after Australia's central bank cut its rates to a record low of 0.5%.
Tech 2020-03-03T02:08:59Z

Elon Musk is vowing to support Twitter boss Jack Dorsey against the activist hedge fund trying to oust him

Elon Musk voiced his support for Twitter CEO Jack Dorsey, who is under attack from activist investor Elliott Management — and so did Twitter employees.
Tech 2020-03-02T22:38:00Z

Waymo just announced its first-ever outside funding with $2.25 billion — and its CEO said spinning off from Alphabet is 'certainly a possibility'

Alphabet's self-driving car startup Waymo just raised a whopping $2.25 billion from outside investors — a first for the company.
Markets 2020-03-02T21:36:00Z

Key Trump advisers want the Fed to hold an emergency meeting to slash rates

Increasingly troubled by a slowdown ahead of the election, the White House has floated stimulus measures but no official plan has been released.
Markets 2020-03-02T21:22:46Z

Coronavirus chaos creates an 'attractive entry point' for internet stocks, UBS says

UBS recommends exposure to the Nasdaq Internet Index, which includes stakes in Netflix, Facebook, Amazon, and other household names.
Tech 2020-03-02T21:15:00Z

Millennials' favorite stock app Robinhood was offline for an entire day of trading, locking out users as the Dow Jones made its biggest point gain ever

Robinhood, the trading app popular with millennials, experienced a major outage on Monday that locked iPhone and Android users out for several hours.
Markets 2020-03-02T20:23:45Z

GOLDMAN SACHS: Commodities markets are facing their biggest demand shock since the financial crisis

The pause to major manufacturing efforts shrank oil demand by 4 million barrels per day, Goldman wrote, compared to 5 million barrels per day in 2008.
BI Prime Tech 2020-03-02T20:17:06Z

Another VP flees Uber amid a spate of high-level departures

Matthew Mengerink is the latest in a string of vice presidents to leave Uber after the heads of New Mobility and Uber Eats departed in recent months.
Enterprise 2020-03-02T19:50:15Z

Salesforce is suspending non-essential travel for its nearly 50,000 employees and 'enhancing' its 'office protocols' to fight the coronavirus spread

Salesforce is suspending non-essential travel for its 49,703 employees around the world and enhancing "office protocols" amid coronavirus worries.
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