Coronavirus crisis pushes firms to slash costs and halt dividends
Major companies from Chevron to Nordstrom suspend dividends and boost liquidity as the Covid outbreak spreads. Chevron trims 2020 capital spend by 20 percent and aims to cut run-rate costs. Nordstrom draws $800 million from a credit line while delaying buybacks. Ford partners with 3M and GE to boost PPE and ventilator output. airlines face up to 252 billion in lost revenue as travel declines.
MENTIONED IN THIS ARTICLE
Chevron
Chevron Corp
Pierre Breber
Nordstrom
Michaels Stores Inc
International Air Transport Association
New home sales fall 4.4 percent in February
U S new home sales dropped 4.4 percent in February to a seasonally adjusted annual rate of 765,000, down from 800,000 in January. The median price rose to 345,900, with regional shifts showing a 38.9 percent surge in the Northeast while the West declined 17.2 percent and the Midwest 7.3 percent. Economists warn of further declines amid virus shutdowns and looming layoffs.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Larry Kudlow
National Economic Council
White House
Midwest
Bunker boom as rich rush to private shelters amid virus fears
The wealthy invest in high end bunkers and shelters with NBC air filtration, safe rooms, and luxury add ons as coronavirus worries rise. Rising S Bunkers and Atlas Survival Shelters report surging sales, from compact 8 by 12 foot units to multimillion dollar fortresses with theaters, gyms, and gun rooms. The trend spans buyers including self made entrepreneurs and international clients seeking secure, self contained spaces.
MENTIONED IN THIS ARTICLE
HomeAdvisor.com
Gary Lynch
Rising
S Bunkers
Japan
Lynch
California
Ron Hubbard
Atlas Survival Shelters
Vivos
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Associated Press
China
WAR Chest
Ford
GE Healthcare
Bill Ford
Detroit-area
Trump
General Motors
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United Auto Workers Union
Bombardier
Quebec
Ontario
Vienna
Austria
Ronald Zak
Congress
Chris Rupkey
MUFG
New York
Darlene Superville
Tribune News Service
Europa One
Germany
LOS Angeles Times
TNS
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