Markets
Walmart gives $390K in bonuses to South Dakota associates
Walmart showed their appreciation for their workers across the country Thursday. The company also noted it hit its goal of hiring 200,000 more people for its stores, clubs, distribution centers, and fulfillment centers since March 19. [Full Article...]
China electric auto champ NIO chases Tesla with $1bn state funding
Having secured a new financial lifeline, the company reassured these consumers that its existential crisis is over. NIO, which is also backed by Tencent Holdings , cut thousands of jobs and axed plans to construct its own manufacturing facility in Shanghai a year ago because of mounting losses. [Full Article...]
Alberta takes first steps to reopen economy beginning May 4
And while Kenney noted that "a full return to normal won't come until there is an effective vaccine or treatment, or until the virus is no longer there to threaten us", he also announced a number of reopenings coming into effect either immediately, or over the coming days. [Full Article...]
Trump claims to have proof that coronavirus originated in Wuhan lab
Asked late Thursday if he has seen evidence from US intelligence officials that COVID-19 came from the Wuhan Institute of Virology, the president replied, "Yes, yes I have", though he declined to share any details. President Trump added: "Whether it's a lot more, it doesn't matter". "This country pays them nearly $500 million a year, and China pays them $38 million a year, and whether it's a lot... [Full Article...]
Fed expands Main Street lending program to include bigger businesses
When the Fed first announced the details of the Main Street Lending Program on April 9, it said USA businesses with up to 10,000 employees or up to $2.5 billion in annual revenue would be eligible for loans to help them weather the economic effects of the coronavirus outbreak. [Full Article...]
Tesla shares tumble after Elon Musk tweets they're too expensive
After reporting a robust quarter just days ago, shares of Tesla sank over 12% Friday after CEO Elon Musk tweeted that the company's shares are priced "too high". But first-quarter sales of the company's electric cars were robust, with the electric auto manufacturer generating a stronger-than-expected earnings report Wednesday, which helped catalyzed gains in the stock price. [Full Article...]
Trump says he has ‘high confidence’ Covid-19 originated in Wuhan lab
Trump told reporters at the White House that evidence he had seen gave him a " high degree of confidence " the virus came from the Wuhan Institute of Virology . "It's not just the Wuhan Institute of Virology, multiple labs inside China that are handling these things". We don't know if it emanated from the wet market or yet some other place. [Full Article...]
Oil posts double-digit gains after USA crude storage build slows
Brent crude for July delivery, which started trading on Friday as the new front-month contract, was up 34 cents, or 1.3%, at $26.82 a barrel by 0318 GMT. The surge was, in part, a result of the kingdom slashing its official selling prices last month. But indicating the depth of the crisis facing the industry after the unprecedented drop in demand, Royal Dutch Shell said on Thursday it was cuttin... [Full Article...]