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New York
Tuesday, September 22, 2020
AstraZeneca shares dropped more than 6 percent during after-hours trading on Tuesday evening. The fall in shares occurred after the company announced that it was pausing it’s late-stage coronavirus vaccine trial because of safety concerns. The pharmaceutical company released a statement saying, “This is...
On Tuesday, shares of Eastman Kodak surged 40 percent higher after D.E. Shaw disclosed its interest in the company. On Monday evening, an SEC filing showed that hedge fund manager Shaw had a 5.2 percent stake in the photographic business. D.E. Shaw is a...
President Trump’s payroll tax deferral goes into effect today. From September 1, 2020, until December 31, 2020, employee’s can choose to have their employers defer or withhold the employee’s portion of Social Security taxes owed, or 6.2 percent of the tax on paid wages up to an...
Vanguard said it is moving $125.3 billion of its Prime Money Market Fund into a U.S. government-backed money market fund. The investment advisory firm said it will make the changes in September and is renaming the new government offering Vanguard Cash Reserves Federal Money Market Fund. Vanguard...
On Monday, Amazon received federal approval from the FAA to begin operations delivering packages by drones. The Federal Aviation Administration said Amazon can now “safely and efficiently deliver packages” to its customers via its unmanned aircraft systems. The FAA regulates the certification of drone...
On Friday, Apple announced that it was terminating Epic Games’ developer account. The move means that Epic will no longer be able to make apps for Apple’s iPhone, Mac, or iPad. However, an account associated with Unreal Engine won’t be impacted by the move. Unreal Engine is...
MGM Resorts said it’s sending separation letters to one-quarter of its pre-pandemic workforce, that is, 18,000 of its previously furloughed employees. The Paradise, Nevada-based company, said it would recall more workers as it reopens its businesses and adds to its operations. In the meantime, MGM plans to...
On Friday, one of the world’s most popular beverage companies announced a restructuring plan that includes voluntary layoffs of at least 4,000 of its workers. The layoffs will impact employees in the U.S., Puerto Rico, and Canada who have been with the company since September 1, 2017,...
On Sunday, President Trump announced that the Food and Drug Administration (FDA) has approved the use of convalescent plasma in COVID-19 patients. The FDA approved the plasma product as an emergency use for novel coronavirus patients. The president called the news a “historic breakthrough”...
Some of the major cinemas began to reopen this weekend and plan to be fully reopened by Labor Day weekend after a five-month hiatus. AMC, Regal, Cinemark, Marcus Theaters and Southern Theaters all shut their doors early in the pandemic amid rising coronavirus cases in many areas...