User blogs
Andrew Lapthorne, the global head of quantitative research at Societe
Generale, is skeptical of forecasts for a “perfect” v-shaped recovery in
corporate earnings. The consensus forecast among analysts is that by
the end of 2021, profits will be growing at nearly the same rate as they
were in late-2019.Lapthorne considered the unique nature of this crisis
and concluded that the consensus is too optimistic.Click here for more
BI Prime stories.To get more news about wikifx, you can visit wikifx news official website.
Wall Street's expectations for recovery from the coronavirus crisis seems too good to be true. That's according to Andrew Lapthorne, the global head of quantitative research at Societe Generale. He is skeptical that the stock market's strong rebound from its trough in March matches up with the reality that will unfold in the months ahead. In particular, Lapthorne is skeptical of the “perfect” recovery that is reflected in real-time consensus forecasts for earnings, the biggest long-term driver of stock prices. Data he compiled shows that analysts expect global profits to fall by 21% this year and then rise 21% in 2021.In other words, the prediction is that economic conditions will recover so quickly that by December 2021, corporate profits will be back to where they were when COVID-19 began to spread in late-2019.
In the alphabet soup of economic scenarios, analysts expect a V-shaped recovery that is turbocharged by effective containment of the outbreak and abundant government stimulus.Many countries around the world are clearly not close to fully reopening their economies. But the latter condition — stimulus — has been successful and unprecedented, ranging from the Federal Reserve's purchases of select junk-rated corporate debt to the checks wired straight to Americans' accounts.
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This helps explain why the S&P 500 has already retraced more than half of its losses after its fastest 30% decline ever. Once again, investors are buying equities knowing fully well that the Fed is ready to act as lifeguard.
“Yet there is zero evidence historically that markets can go up on a sustained basis whilst profits continue to slump,” Lapthorne said. “Equity markets may have bounced but investors still seem to be positioning themselves for a drop.”For proof of the ongoing risk to corporate profits, keep tabs on what companies are doing with their cash. Goldman Sachs strategists estimate that cash spending among S&P 500 companies will fall by a record 33% to $1.8 trillion this year. The decline includes cuts to dividends — another area where proof of cashflow constraints can be found. By adjusting for the expected drop in EPS this year, UBS estimates that the median S&P 500 dividend will fall 28% to $1.47. The largest expected dividend reductions are in cyclical sectors like energy and materials.Lapthorne is not the only strategist concerned that earnings expectations are still too high, even though they have been reined in by the pandemic.
“We are concerned 2021 numbers now need to be cut more aggressively,” said Lori Calvasina, the head of US equity strategy of RBC Capital Markets, in a recent note. Her 2021 EPS forecast that factors in a “healthy economic recovery and margin expansion” is $153, below the consensus forecast for $170.In addition, she noted that several executives have told analysts on earnings calls that the journey to get the economy back to its pre-coronavirus strength will be slow and uneven. These observations contrast the market's march higher — at least in Lapthorne's books. And the mismatch is one that may be corrected by another sell-off.if you want know more,Download wikifx
Wall Street's expectations for recovery from the coronavirus crisis seems too good to be true. That's according to Andrew Lapthorne, the global head of quantitative research at Societe Generale. He is skeptical that the stock market's strong rebound from its trough in March matches up with the reality that will unfold in the months ahead. In particular, Lapthorne is skeptical of the “perfect” recovery that is reflected in real-time consensus forecasts for earnings, the biggest long-term driver of stock prices. Data he compiled shows that analysts expect global profits to fall by 21% this year and then rise 21% in 2021.In other words, the prediction is that economic conditions will recover so quickly that by December 2021, corporate profits will be back to where they were when COVID-19 began to spread in late-2019.
In the alphabet soup of economic scenarios, analysts expect a V-shaped recovery that is turbocharged by effective containment of the outbreak and abundant government stimulus.Many countries around the world are clearly not close to fully reopening their economies. But the latter condition — stimulus — has been successful and unprecedented, ranging from the Federal Reserve's purchases of select junk-rated corporate debt to the checks wired straight to Americans' accounts.
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This helps explain why the S&P 500 has already retraced more than half of its losses after its fastest 30% decline ever. Once again, investors are buying equities knowing fully well that the Fed is ready to act as lifeguard.
“Yet there is zero evidence historically that markets can go up on a sustained basis whilst profits continue to slump,” Lapthorne said. “Equity markets may have bounced but investors still seem to be positioning themselves for a drop.”For proof of the ongoing risk to corporate profits, keep tabs on what companies are doing with their cash. Goldman Sachs strategists estimate that cash spending among S&P 500 companies will fall by a record 33% to $1.8 trillion this year. The decline includes cuts to dividends — another area where proof of cashflow constraints can be found. By adjusting for the expected drop in EPS this year, UBS estimates that the median S&P 500 dividend will fall 28% to $1.47. The largest expected dividend reductions are in cyclical sectors like energy and materials.Lapthorne is not the only strategist concerned that earnings expectations are still too high, even though they have been reined in by the pandemic.
“We are concerned 2021 numbers now need to be cut more aggressively,” said Lori Calvasina, the head of US equity strategy of RBC Capital Markets, in a recent note. Her 2021 EPS forecast that factors in a “healthy economic recovery and margin expansion” is $153, below the consensus forecast for $170.In addition, she noted that several executives have told analysts on earnings calls that the journey to get the economy back to its pre-coronavirus strength will be slow and uneven. These observations contrast the market's march higher — at least in Lapthorne's books. And the mismatch is one that may be corrected by another sell-off.if you want know more,Download wikifx
Continued speculation that the pandemic is nearing the peak has
continued to fuel optimism into US financial market.Thanks to prospects
that United States will soon lift lockdown measures and produce drugs to
effectively control the coronavirus pandemic, Nasdaq was up by 6%
throughout the week, registering the largest double-week gain since
2001. On the other hand, extreme pessimism continues to loom the forex
and oil markets, while a crisis similar to the Asian financial turmoil
of 1997-98 is quietly brewing and threatens to hit emerging market
currencies.To get more news about wikifx, you can visit wikifx news official website.
While Trump said last week that the United States would lift restrictions in phases, Japan expanded state of emergency to the whole country, and the United Kingdom also announced an extension of the blockade measures for three weeks, reflecting that the global pandemic has yet to be controlled. There is also news that Remdesivir, the drug produced and tested by pharmaceutical company Gilead, has a positive effect in treating coronavirus patients, boosting the company's stock price by 10%.
The Dow component Boeings share also soared 15% after the company announced plans to restart aircraft production in Washington State. But the foreign exchange market and the oil market have been sluggish amid the good news, with some emerging market countries seeing devastating crash of oil price and their national currencies.
Emerging market currencies in sell-off and ZAR has fallen 26% this year.
Some emerging market currencies have continued to record new lows, such as the Indian rupee, the Argentine peso, the Mexican peso, the Brazilian real and the South African rand, while the Turkish lira is approaching historical lows. The South African rand has fallen by 26% year to date, seeing the largest decline among all currencies. The Brazilian real has fallen by 23%, the Mexican peso has fallen by 21%, and the Russian ruble has fallen by 16.5%. The above data reflects that the currencies of emerging market countries and oil-producing countries are in a sell-off wave, facing the crisis of sharp depreciation.
When Soros targeted the Thai central bank and attacked the Thai baht in early 1997, Hong Kong people, indulged in the enthusiasm of the reunification with Mainland, continued to speculate in stock and property markets and ignored signs of the fierce currency battle between Soros and Thailand. Later the baht‘s crash triggered an unprecedented tsunami in Asian financial market. So the sell-off in currencies of emerging markets and oil-producing countries may be a signal that a financial storm is looming large in these emerging markets. This explains why the US dollar index remains strong despite US stocks’ rally last week.
Therefore, if the emerging markets are unfortunately hit by the financial crisis domino effect in the future, there will be another round of dollar shortage and liquidity shortage, which will boost the exchange rate of the US dollar and keep non-US currencies under pressure.
A financial crisis is brewing in emerging markets and non-dollar currencies remains under pressure
In addition to the forex market, the oil market has also suffered a heavy blow as the worst among most affected sectors. From the beginning of the year to last Friday, closing price of WTI futures at New York Mercantile Exchange have plummeted by 70.19%, which is definitely a disaster. A barrel of oil is approximately 159 liters. Taking WTI crude‘s lowest price of US$17.31/barrel last Friday, that’s 0.84 Hong Kong dollars per liter of oil, suggesting that the price of oil fell to a much cheaper level than water.
Therefore, at this stage, there are extremely extreme contradictions in the financial market. The US stock market rebounded amid optimism that the global pandemic has peaked, but at the same time, WTI crude has suffered pressures from the economic fallout and possibility of a recession. Some foreign banks observe that WTI will bottom out at around US$10, I personally think that there is very little room for oil price to plunge further.
While opinions still vary as to whether oil prices have hit the bottom, one thing sure is that whether oil prices bottom out now or continue to drop to the forecast US$10 level, prices wont return to US$30 in the short term even after bottoming out, which will definitely be a big problem for oil companies. Most oil companies, probably except for those in Russia and the Middle East, will be losing money if the prices remain below US$30. Oil companies in North and South America, Europe and Asia may fall into financial difficulties and then face the crisis of bankruptcy. I estimate that in the future, the collapse of oil companies will repeat the collapse of investment banks in the 2008 financial crisis, and eventually off a financial tsunami.
I also cited the above example during one of the shows-the subprime mortgage crisis broke out in the first quarter of 2007, butLehman Brothers didnt go bankrupt immediately in the second quarter of 2007, they collapsed in September of the following year. So I believe that the Great Depression 2.0 derived from the coronavirus pandemic will eventually trigger emerging market crisis, sovereign debt crisis and the collapse of large companies in different sectors, especially energy companies, starting from the second half of 2020. For bottom buyers counting on a rally of oil prices, Unlevered ETF will be a good choice.if you want know more,Download wikifx
While Trump said last week that the United States would lift restrictions in phases, Japan expanded state of emergency to the whole country, and the United Kingdom also announced an extension of the blockade measures for three weeks, reflecting that the global pandemic has yet to be controlled. There is also news that Remdesivir, the drug produced and tested by pharmaceutical company Gilead, has a positive effect in treating coronavirus patients, boosting the company's stock price by 10%.
The Dow component Boeings share also soared 15% after the company announced plans to restart aircraft production in Washington State. But the foreign exchange market and the oil market have been sluggish amid the good news, with some emerging market countries seeing devastating crash of oil price and their national currencies.
Emerging market currencies in sell-off and ZAR has fallen 26% this year.
Some emerging market currencies have continued to record new lows, such as the Indian rupee, the Argentine peso, the Mexican peso, the Brazilian real and the South African rand, while the Turkish lira is approaching historical lows. The South African rand has fallen by 26% year to date, seeing the largest decline among all currencies. The Brazilian real has fallen by 23%, the Mexican peso has fallen by 21%, and the Russian ruble has fallen by 16.5%. The above data reflects that the currencies of emerging market countries and oil-producing countries are in a sell-off wave, facing the crisis of sharp depreciation.
When Soros targeted the Thai central bank and attacked the Thai baht in early 1997, Hong Kong people, indulged in the enthusiasm of the reunification with Mainland, continued to speculate in stock and property markets and ignored signs of the fierce currency battle between Soros and Thailand. Later the baht‘s crash triggered an unprecedented tsunami in Asian financial market. So the sell-off in currencies of emerging markets and oil-producing countries may be a signal that a financial storm is looming large in these emerging markets. This explains why the US dollar index remains strong despite US stocks’ rally last week.
Therefore, if the emerging markets are unfortunately hit by the financial crisis domino effect in the future, there will be another round of dollar shortage and liquidity shortage, which will boost the exchange rate of the US dollar and keep non-US currencies under pressure.
A financial crisis is brewing in emerging markets and non-dollar currencies remains under pressure
In addition to the forex market, the oil market has also suffered a heavy blow as the worst among most affected sectors. From the beginning of the year to last Friday, closing price of WTI futures at New York Mercantile Exchange have plummeted by 70.19%, which is definitely a disaster. A barrel of oil is approximately 159 liters. Taking WTI crude‘s lowest price of US$17.31/barrel last Friday, that’s 0.84 Hong Kong dollars per liter of oil, suggesting that the price of oil fell to a much cheaper level than water.
Therefore, at this stage, there are extremely extreme contradictions in the financial market. The US stock market rebounded amid optimism that the global pandemic has peaked, but at the same time, WTI crude has suffered pressures from the economic fallout and possibility of a recession. Some foreign banks observe that WTI will bottom out at around US$10, I personally think that there is very little room for oil price to plunge further.
While opinions still vary as to whether oil prices have hit the bottom, one thing sure is that whether oil prices bottom out now or continue to drop to the forecast US$10 level, prices wont return to US$30 in the short term even after bottoming out, which will definitely be a big problem for oil companies. Most oil companies, probably except for those in Russia and the Middle East, will be losing money if the prices remain below US$30. Oil companies in North and South America, Europe and Asia may fall into financial difficulties and then face the crisis of bankruptcy. I estimate that in the future, the collapse of oil companies will repeat the collapse of investment banks in the 2008 financial crisis, and eventually off a financial tsunami.
I also cited the above example during one of the shows-the subprime mortgage crisis broke out in the first quarter of 2007, butLehman Brothers didnt go bankrupt immediately in the second quarter of 2007, they collapsed in September of the following year. So I believe that the Great Depression 2.0 derived from the coronavirus pandemic will eventually trigger emerging market crisis, sovereign debt crisis and the collapse of large companies in different sectors, especially energy companies, starting from the second half of 2020. For bottom buyers counting on a rally of oil prices, Unlevered ETF will be a good choice.if you want know more,Download wikifx
The British pound has been sluggish recently, being among a group of
non-US currencies that suffered general pressure due to risk aversion
sentiment caused by WTI's decline into negative areas. However, the
pound has now shown obvious resistance to decline.To get more news about
wikifx, you can visit wikifx news official website.
Despite Markit's service industry PMI in April of 12.3, which was much lower than the expected 27.8, the pound did not show a sharp decline, indicating that the market partially digested the epidemic's shock on Britain's economy. We believe that pound s current exchange rate at an extremely low range indicates the currency has little room for further declines. As the global economy gradually recovers, the pound may rebound significantly.
The negotiators of the United Kingdom and the European Union began week-long consultations to discuss the relationship between the two countries after the Brexit, including trade issues. As the epidemic persists, the possibility of the UK applying for an extension of the Brexit transition period is also increasing. The market still needs to pay close attention to how the progress of related matters evolve.if you want know more,Download wikifx
Despite Markit's service industry PMI in April of 12.3, which was much lower than the expected 27.8, the pound did not show a sharp decline, indicating that the market partially digested the epidemic's shock on Britain's economy. We believe that pound s current exchange rate at an extremely low range indicates the currency has little room for further declines. As the global economy gradually recovers, the pound may rebound significantly.
The negotiators of the United Kingdom and the European Union began week-long consultations to discuss the relationship between the two countries after the Brexit, including trade issues. As the epidemic persists, the possibility of the UK applying for an extension of the Brexit transition period is also increasing. The market still needs to pay close attention to how the progress of related matters evolve.if you want know more,Download wikifx
One Bertie County real estate broker's "on a whim" decision has led to more than $375,000.Get more news about 彩票包网平台,you can vist loto98.com
Tony Rawls says he bought extra Cash 5 tickets online from his home on April 3 and woke up in the middle of the night to quite the surprise - he had won the jackpot.
Rawls and his wife, Jolene Morris, say they use Online Play with the North Carolina Education Lottery for its convenience.As it turns out, both were seeing the same thing; Rawls says they "hit the jackpot!"
While the state’s Stay At Home order remains in effect, lottery officials say they decided to lift the requirement that winners of prizes of $100,000 or more claim their prize in person. Since Rawls had an Online Play account, officials say he had the choice of getting his prize money from an electronic funds transfer or by certified check. After federal and state tax withholdings, Rawls and Morris took home $266,027, and officials say they received their prize on Friday.
According to the lottery, Online Play allows players to purchase tickets online for four draw games:
Carolina Cash 5,
Lucky For Life,
Mega Millions,
Powerball.
Ticket sales from games like Carolina Cash 5 make it possible for the lottery to raise more than $700 million per year for education, officials say.
Tony Rawls says he bought extra Cash 5 tickets online from his home on April 3 and woke up in the middle of the night to quite the surprise - he had won the jackpot.
Rawls and his wife, Jolene Morris, say they use Online Play with the North Carolina Education Lottery for its convenience.As it turns out, both were seeing the same thing; Rawls says they "hit the jackpot!"
While the state’s Stay At Home order remains in effect, lottery officials say they decided to lift the requirement that winners of prizes of $100,000 or more claim their prize in person. Since Rawls had an Online Play account, officials say he had the choice of getting his prize money from an electronic funds transfer or by certified check. After federal and state tax withholdings, Rawls and Morris took home $266,027, and officials say they received their prize on Friday.
According to the lottery, Online Play allows players to purchase tickets online for four draw games:
Carolina Cash 5,
Lucky For Life,
Mega Millions,
Powerball.
Ticket sales from games like Carolina Cash 5 make it possible for the lottery to raise more than $700 million per year for education, officials say.
The Powerball jackpot is now $1.5 billion and people all over the
country are buying tickets in hopes of becoming the big winner.Get more
news about 菲律宾彩票包网公司,you can vist loto98.com
However, the lottery is not available in Nevada and that means residents must make a decision on where to go to buy tickets and how long are they willing to stand in line.
On Monday, hopeful winners began lining up at 2:30 a.m. and stood in line for two to three hours at the Primm Lotto Store.
The lottery store in Primm is popular not only because it is the closest to Las Vegas, but it also known for selling winning tickets. Last week, it sold a ticket that matched 5 out of the 6 numbers for Powerball. That ticket was worth $1 million.
RELATED: Powerball prize invites myths, misconceptions about lottery
Other people would rather drive and additional 30 to 40 minutes from Primm to Baker and stand in line for a shorter period of time. On Monday, people with lottery fever were standing in line for about an hour.Many Nevada residents also head to Arizona to buy tickets. Two of the closest locations there are Rosie's Den and Arizona Last Stop.
However, the lottery is not available in Nevada and that means residents must make a decision on where to go to buy tickets and how long are they willing to stand in line.
On Monday, hopeful winners began lining up at 2:30 a.m. and stood in line for two to three hours at the Primm Lotto Store.
The lottery store in Primm is popular not only because it is the closest to Las Vegas, but it also known for selling winning tickets. Last week, it sold a ticket that matched 5 out of the 6 numbers for Powerball. That ticket was worth $1 million.
RELATED: Powerball prize invites myths, misconceptions about lottery
Other people would rather drive and additional 30 to 40 minutes from Primm to Baker and stand in line for a shorter period of time. On Monday, people with lottery fever were standing in line for about an hour.Many Nevada residents also head to Arizona to buy tickets. Two of the closest locations there are Rosie's Den and Arizona Last Stop.
Deutsche Bank reported a first quarter net profit of €66 million ($71.62
million) on Wednesday, significantly below the €201 million ($219
million) net profit it recorded in the first quarter of 2019. The bank
has put aside €260 million ($282 million) to cope with potential loan
losses that may result from the coronavirus pandemic.The bank's earnings
results follow a pre-release on Sunday where it confirmed its net
income figures, and that it beat analysts' estimates. Visit Business
Insider's homepage for more stories.To get more news about wikifx, you can visit wikifx news official website.
Deutsche Bank has put aside €260 million ($282 million) to cover any potential loan losses from the coronavirus pandemic as the bank posted 67% lower net profit than last year in its quarterly earnings on Wednesday. Despite the sharp drop in profits, the German bank beat Wall Street Analysts' expectations. Deutsche Bank reported a net profit of €66 million ($71.62 million) on Wednesday, significantly below the €201m ($219 million) net profit it recorded in the first quarter of last year. As well as a 67% fall in net profits, the German lender also recorded a loss of $43 million attributable to shareholders.
Here are some key metrics versus Bloomberg estimates:Net income: €66 million versus €2.68 million ($2.82 million) expected.Revenue: €6.4 billion versus €5.68 billion ($6.16 billion) expected.Christian Sewing, chief executive of Deutsche Bank said: “In the current crisis, we have shown robust numbers and demonstrated strong performance in support of our clients across all core businesses.Sewing added: ”Conservative balance sheet management enables us to navigate the current environment from a position of strength as the leading bank in Europe's strongest economy.Provision for credit losses were €506 million, and the German bank earmarked €260 million ($282 million) to deal with potential loan losses that may result from the coronavirus pandemic.
Provision for credit losses taken in the quarter increased allowance for loan losses to €4.3 billion. Read more: Brad Cornell has been teaching finance at UCLA for almost 40 years. He shares the precise way he calculates the true value of the S&P 500 — and says investors need to 'be careful out there.'The bank's earnings follows a a surprise pre-release statement on Sunday, where the German bank announced its expectation that net profits would be €66 million ($72 million). Deutsche Bank has had a challenging few years months including a restructuring and steep losses. It announced last year it would be cutting 18,000 jobs last year as part of a “radical transformation” aimed at restoring consistent profitability and improving returns to its shareholders.
Sewings' $8.3 billion restructuring plan transformation involves cutting down the investment banking business and aims to cut total costs by a quarter by 2022. Shares in Deutsche Bank rose 2% as of 3:50 a.m ET at $6.85. Deutsche Bank's results came a day after Swiss banking giant UBS reported a strong first-quarter with net profits rising 40% compared to the same period last year, driven by high transaction volumes in the midst of market volatility.if you want know more,Download wikifx
Deutsche Bank has put aside €260 million ($282 million) to cover any potential loan losses from the coronavirus pandemic as the bank posted 67% lower net profit than last year in its quarterly earnings on Wednesday. Despite the sharp drop in profits, the German bank beat Wall Street Analysts' expectations. Deutsche Bank reported a net profit of €66 million ($71.62 million) on Wednesday, significantly below the €201m ($219 million) net profit it recorded in the first quarter of last year. As well as a 67% fall in net profits, the German lender also recorded a loss of $43 million attributable to shareholders.
Here are some key metrics versus Bloomberg estimates:Net income: €66 million versus €2.68 million ($2.82 million) expected.Revenue: €6.4 billion versus €5.68 billion ($6.16 billion) expected.Christian Sewing, chief executive of Deutsche Bank said: “In the current crisis, we have shown robust numbers and demonstrated strong performance in support of our clients across all core businesses.Sewing added: ”Conservative balance sheet management enables us to navigate the current environment from a position of strength as the leading bank in Europe's strongest economy.Provision for credit losses were €506 million, and the German bank earmarked €260 million ($282 million) to deal with potential loan losses that may result from the coronavirus pandemic.
Provision for credit losses taken in the quarter increased allowance for loan losses to €4.3 billion. Read more: Brad Cornell has been teaching finance at UCLA for almost 40 years. He shares the precise way he calculates the true value of the S&P 500 — and says investors need to 'be careful out there.'The bank's earnings follows a a surprise pre-release statement on Sunday, where the German bank announced its expectation that net profits would be €66 million ($72 million). Deutsche Bank has had a challenging few years months including a restructuring and steep losses. It announced last year it would be cutting 18,000 jobs last year as part of a “radical transformation” aimed at restoring consistent profitability and improving returns to its shareholders.
Sewings' $8.3 billion restructuring plan transformation involves cutting down the investment banking business and aims to cut total costs by a quarter by 2022. Shares in Deutsche Bank rose 2% as of 3:50 a.m ET at $6.85. Deutsche Bank's results came a day after Swiss banking giant UBS reported a strong first-quarter with net profits rising 40% compared to the same period last year, driven by high transaction volumes in the midst of market volatility.if you want know more,Download wikifx
Hertz is preparing for a potential bankruptcy filing, The Wall
Street Journal reported Wednesday.The situation is fluid, sources told
the paper, as the company hopes to reduce lease payments by May 4.The
company laid off 10,000 employees — more than a quarter of its total
workforce — in April.Visit Business Insider's homepage for more
stories.To get more news about wikifx, you can visit wikifx news official website.
Car-rental company Hertz is preparing for a potential bankruptcy filing, The Wall Street Journal reported Wednesday, as the coronavirus pandemic brings nearly all travel to a standstill.People familiar with the matter told the paper that Hertz is working to reduce its debt payments and is in talks on a forbearance agreement that could help it avoid bankruptcy. The situation remains fluid, according to the Journal's sources.Hertz did not immediately respond to a request for comment from Business Insider. Shares of Hertz declined more than 15% in trading Wednesday, as broader indices rose, following The Wall Street Journal's report.
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The news of a possible bankruptcy arrives two days after Hertz on Monday said in a regulatory filing that it “did not make certain payments” on its operating lease as it remains in discussions with lenders to reduce its payments. If those discussions aren't fruitful by the first week of May, “Hertz could be materially and negatively impacted,” it said.Earlier in April, the company laid off 10,000 workers — about 26% of its workforce at the end of 2019 — “in an effort to align staffing levels with travel demand.”Ryan Brinkman, an analyst at JPMorgan, theorized on April 23 that government assistance could help Hertz remain solvent. “We do think a potentially large amount of cash could be made available to Hertz from the federal government, potentially solving any liquidity concerns, although we are also uncertain with regard to the terms,” he said in a note to clients.if you want know more,Download wikifx
Car-rental company Hertz is preparing for a potential bankruptcy filing, The Wall Street Journal reported Wednesday, as the coronavirus pandemic brings nearly all travel to a standstill.People familiar with the matter told the paper that Hertz is working to reduce its debt payments and is in talks on a forbearance agreement that could help it avoid bankruptcy. The situation remains fluid, according to the Journal's sources.Hertz did not immediately respond to a request for comment from Business Insider. Shares of Hertz declined more than 15% in trading Wednesday, as broader indices rose, following The Wall Street Journal's report.
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The news of a possible bankruptcy arrives two days after Hertz on Monday said in a regulatory filing that it “did not make certain payments” on its operating lease as it remains in discussions with lenders to reduce its payments. If those discussions aren't fruitful by the first week of May, “Hertz could be materially and negatively impacted,” it said.Earlier in April, the company laid off 10,000 workers — about 26% of its workforce at the end of 2019 — “in an effort to align staffing levels with travel demand.”Ryan Brinkman, an analyst at JPMorgan, theorized on April 23 that government assistance could help Hertz remain solvent. “We do think a potentially large amount of cash could be made available to Hertz from the federal government, potentially solving any liquidity concerns, although we are also uncertain with regard to the terms,” he said in a note to clients.if you want know more,Download wikifx
Gold Continues to Fall as Risk-aversion Sentiments Decline
Gold price has been falling for the third straight day, as global governments‘ measures of reopening economy and the stock market’s rally reduced part of the markets risk-aversion demands.To get more news about wikifx, you can visit wikifx news official website.
Investors are closely following the stimulus measures governments and central banks will implement to revive economy.
In addition, statistics also show that China and India‘s gold imports have declined starkly, as lockdown measures and spiking gold prices dampen consumers’ demand of the precious metal. According to data from General Administration of Customs People‘s Republic of China (GACC), China’s Gold imports dropped over 80% in March and over 60% in the first quarter this year.
China imported only 17.5 tonnes of gold in March, the lowest level recorded by GACC since January, 2018. Similarly, Indias gold imports are also near historical low.if you want know more,Download wikifx
Gold price has been falling for the third straight day, as global
governments‘ measures of reopening economy and the stock market’s rally
reduced part of the markets risk-aversion demands.To get more news about
wikifx, you can visit wikifx news official website.
Investors are closely following the stimulus measures governments and central banks will implement to revive economy.
In addition, statistics also show that China and India‘s gold imports have declined starkly, as lockdown measures and spiking gold prices dampen consumers’ demand of the precious metal. According to data from General Administration of Customs People‘s Republic of China (GACC), China’s Gold imports dropped over 80% in March and over 60% in the first quarter this year.
China imported only 17.5 tonnes of gold in March, the lowest level recorded by GACC since January, 2018. Similarly, Indias gold imports are also near historical low.if you want know more,Download wikifx
Investors are closely following the stimulus measures governments and central banks will implement to revive economy.
In addition, statistics also show that China and India‘s gold imports have declined starkly, as lockdown measures and spiking gold prices dampen consumers’ demand of the precious metal. According to data from General Administration of Customs People‘s Republic of China (GACC), China’s Gold imports dropped over 80% in March and over 60% in the first quarter this year.
China imported only 17.5 tonnes of gold in March, the lowest level recorded by GACC since January, 2018. Similarly, Indias gold imports are also near historical low.if you want know more,Download wikifx
After WikiFXs investigation, traders are more interested in the latest
forex news and forex analysis articles. This article will present the
eight functions of WikiFX APP in details so that users can better
understand the APP and acquire the forex knowledge they need.To get more
news about EXNESS, you can visit wikifx news official website.
1. 24 hours#real-time updated market info& Economic News Calendar
Go to the APP home page and click “ALL”to select News Express, which displays two items, New Flashand Calendar. Click News Flash, and you will see the screen scrolls with the latest real-time forex information in 24 hours. The information is showed in two colors, red and black, indicating the degree of importance of the information.
Calendar shows the Economic News of each country on the same day, and you will see detailed information and explanations for every piece of financial information.
2. Daily Gurus' Analysis
WikiFX has invited 15+ gurus with highly reputation in the forex industry, and they have long-term cooperation with WikiFX and continuously bring the latest forex information on WikiFX official website. Their articles focus on the current investment environment analysis. For example, the influence of epidemic on forex; why is oil cheaper than water, etc.
3. WikiFX Forum
This is a very good place, where you can post your opinions, articles and questions about forex whether you are a trader or broker. To attract more people to follow your posts. Even you can get comments and suggestions from strangers. Each post will be reviewed by WikiFX staff in order to prevent advertisements, false investment advertisements and any information from illegal brokers and make sure that the forum is a safe and reliable place for you to speak freely.
4. Spread Comparison
Go to the APP home page and click “ALL”and choose “Spread”, you will see 85 brokers, with the spread of EUR/ USD, gold and crude oil. The list is a good reference for you when you are going to choose brokers. You can know the real-time price and choose the best broker to trade.
5. $1/M EA Cloud Host Trading Tool
Generally, forex is traded in two forms, manual and EA. WikiFX is going to launch a global EA cloud host on July.2020. WikiFX EA cloud host is the first cloud server tailored for forex trading. With preinstalled MT4 and MT5 trading software, the cloud host uses a remote Windows desktop to operate multiple EAs of forex traders in 24 hours. At the same time, WikiFX shield system released with the EA cloud host together will also be installed to perform real-time detection and analysis of EA data.
At that time, you can enjoy more convenient and fast forex transactions by EA cloud server with a cost of only $1 a month.
6. Daily Experts' Analysis
WikiFX has exclusive experts, who provides professional and real time technical analysis on gold, crude oil and forex for users.You can freely learn how to trade gold, crude oil and forex on the APP.
7. Global Brokers Ranking
WikiFX APP releases global brokers rankings, such the top 50 brokers and the top 50 illegal brokers in the world. This function can help investors better distinguish reliable brokers and scam brokers.
8. Calculator
In order to make it easier for traders to know the accurate exchange rate, WikiFX offers the convenient function - Calculator, by which you can quickly check the exchange rate of the currency you need.if you want know more,Download wikifx
1. 24 hours#real-time updated market info& Economic News Calendar
Go to the APP home page and click “ALL”to select News Express, which displays two items, New Flashand Calendar. Click News Flash, and you will see the screen scrolls with the latest real-time forex information in 24 hours. The information is showed in two colors, red and black, indicating the degree of importance of the information.
Calendar shows the Economic News of each country on the same day, and you will see detailed information and explanations for every piece of financial information.
2. Daily Gurus' Analysis
WikiFX has invited 15+ gurus with highly reputation in the forex industry, and they have long-term cooperation with WikiFX and continuously bring the latest forex information on WikiFX official website. Their articles focus on the current investment environment analysis. For example, the influence of epidemic on forex; why is oil cheaper than water, etc.
3. WikiFX Forum
This is a very good place, where you can post your opinions, articles and questions about forex whether you are a trader or broker. To attract more people to follow your posts. Even you can get comments and suggestions from strangers. Each post will be reviewed by WikiFX staff in order to prevent advertisements, false investment advertisements and any information from illegal brokers and make sure that the forum is a safe and reliable place for you to speak freely.
4. Spread Comparison
Go to the APP home page and click “ALL”and choose “Spread”, you will see 85 brokers, with the spread of EUR/ USD, gold and crude oil. The list is a good reference for you when you are going to choose brokers. You can know the real-time price and choose the best broker to trade.
5. $1/M EA Cloud Host Trading Tool
Generally, forex is traded in two forms, manual and EA. WikiFX is going to launch a global EA cloud host on July.2020. WikiFX EA cloud host is the first cloud server tailored for forex trading. With preinstalled MT4 and MT5 trading software, the cloud host uses a remote Windows desktop to operate multiple EAs of forex traders in 24 hours. At the same time, WikiFX shield system released with the EA cloud host together will also be installed to perform real-time detection and analysis of EA data.
At that time, you can enjoy more convenient and fast forex transactions by EA cloud server with a cost of only $1 a month.
6. Daily Experts' Analysis
WikiFX has exclusive experts, who provides professional and real time technical analysis on gold, crude oil and forex for users.You can freely learn how to trade gold, crude oil and forex on the APP.
7. Global Brokers Ranking
WikiFX APP releases global brokers rankings, such the top 50 brokers and the top 50 illegal brokers in the world. This function can help investors better distinguish reliable brokers and scam brokers.
8. Calculator
In order to make it easier for traders to know the accurate exchange rate, WikiFX offers the convenient function - Calculator, by which you can quickly check the exchange rate of the currency you need.if you want know more,Download wikifx