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AP News | Equities.com |

NEW YORK (AP) — The storied Manhattan clothier Brooks Brothers is filing for bankruptcy protection.

The company that says it’s put 40 U.S. presidents in its suits survived two world wars and navigated through casual Fridays and a loosening of dress standards even on Wall Street, but the coronavirus pandemic pushed the 200-year-old company into seek Chapter 11 protection Wednesday.

Another famed men’s clothier, Barneys of New York, sought bankruptcy protection last year, ...


AP News | Equities.com |

A two-year audit of Facebook’s civil rights record found “serious setbacks” that have marred the social network’s progress on matters such as hate speech, misinformation and bias.

Facebook hired the audit’s leader, former American Civil Liberties Union executive Laura Murphy, in May 2018 to assess its performance on vital social issues. Its 100-page report released Wednesday outlines a “seesaw of progress and setbacks” at the company on everything ...


AP News | Equities.com |

Global stock markets were mixed Wednesday as uncertainty over the coronavirus pandemic sapped the buying enthusiasm that has been driving prices higher.

Wall Street appeared set to edge up on the open, with Dow futures up 0.1% and S&P 500 futures 0.2% higher. In Europe, France’s CAC 40 fell 0.7% to 5,007, while Germany’s DAX was down 0.3% at 12,580. Britain’s FTSE 100 was flat at 6,188.

Given the current murky outlook, in...


AP News | Equities.com |

Wall Street’s recent string of big gains came to an abrupt stop Tuesday as stocks closed broadly lower following a pullback in markets overseas.

The S&P 500 fell 1.1% after spending most of the day in the red. The sell-off snapped the index’s five-day winning streak. Technology stocks, banks and companies that rely on consumer spending accounted for a big slice of the slide, which accelerated toward the end of the day. Bond yields fell and the price of gold rose, another sign of caution in the market.


Reuters | Equities.com |

The world’s top oil and gas companies locked in cheap borrowing rates to raise a record amount of debt in the second quarter of 2020 and boost cash reserves as a buffer against a collapse in revenues because of COVID-19.

The dash for debt piles pressure on company balance sheets and the issue is particularly acute for BP (BP.L) and Royal Dutch Shell (RDSa.L). Already burdened by high levels of borrowing, they also face the disruption of a major s...


AP News | Equities.com |

The Silicon Valley data-mining firm Palantir Technologies confidentially filed to go public, setting up what could be the biggest stock offering from a technology company since Uber’s debut last year.

Founded in 2004 by investors including Peter Thiel, the company works with governments, law enforcement agencies and the defense establishment to organize and analyze huge volumes of data. The technology can be used to disrupt terrorist networks or battle human trafficking. Most recent...


Reuters | Equities.com |

(Reuters) - Central bank firepower helped stock market bulls finish the first half of 2020 on a high. Now the rally hinges on follow-through in the third-quarter from economic data, company earnings and the coronavirus newsflow.

With central bank and government stimulus approaching $20 trillion, world stocks’ 35% collapse between Feb. 20 and March 23 - the swiftest and deepest sell-off since 2008 - has mostly reversed.

Global shares are within 10% of their February record, while...


Reuters | Equities.com |

By Tina Bellon

(Reuters) - Uber Technologies Inc on Tuesday further expanded delivery offerings, launching an app-based grocery service in several Latin American and Canadian cities, with the United States to follow later this month.

The company’s latest foray into the delivery space is in partnership with Cornershop, a Chilean online grocery provider in which Uber has held a majority stake since October.

Customers in Canada’s Montreal and Toronto, eleven Brazilian c...


Reuters | Equities.com |

The U.S. government has awarded Novavax Inc $1.6 billion to cover testing and manufacturing of a potential vaccine for the novel coronavirus in the United States, with the aim of delivering 100 million doses by January.

The award announced by the U.S. Department of Health and Human Services is the biggest yet from “Operation Warp Speed,” the White House initiative aimed at accelerating access to vaccines and treatments to fight ...


Reuters | Equities.com |

Samsung Electronics Co Ltd flagged a 23% rise in second-quarter operating profit on Tuesday, beating analysts’ estimates on solid chip sales to data centers catering for a work-from-home economy during the novel coronavirus pandemic.

The sales offset weak demand for smartphones and televisions, while one-off gains from its display business, which counts Apple Inc. as a customer, also boosted profits, the company said. It gave no further details.

The world’s top memory-chip and smartphone maker said operating profit was likely 8.1 trillion won ($6.8 billion) in the quarter that ended in June, far above the 6.4 trillion won analyst forecast by Refinitiv SmartEstimate. It would be the highest quarterly profit since the fourth quarter of 2018.