20Feb2020 Market Close: Mounting Coronavirus Fears Take A Toll On Wall Street, DOW Closes At -128 Points, Nasdaq Cloes Down At -0.7%, WTI Crude Trades In The 43 Handle

Morgan Stanley’s Gorman charts ambitious course with $13 bln E*Trade deal

Morgan Stanley said on Thursday it would buy discount brokerage E*Trade Financial Corp in a stock deal worth about $13 billion, the biggest acquisition by a Wall Street bank since the 2008-2009 financial crisis.

Morgan Stanley’s E*Trade deal to test Washington’s regulatory mood in election year

Morgan Stanley’s takeover of brokerage E*Trade Financial Corp  reflects a more relaxed regulatory mood in Washington, but it is still a gamble in an election year that will see Democrats continue to shine a spotlight on Wall Street excesses, said analysts.

What secrets? Apple embroiled in row over book by German former executive

Apple has become embroiled in a publishing row in Germany after it tried to halt sales of a book written by a former executive, saying it disclosed secrets about the App Store.

EU privacy body warns of privacy risks in Google, Fitbit deal

Alphabet Inc-owned Google’s $2.1 billion bid for fitness trackers company Fitbit could pose privacy risks, the European Data Protection Board (EDPB) warned on Thursday, adding its voice to other critics of the deal.

Exclusive: Westinghouse set to sign pact with Indian firm for nuclear reactors during Trump visit

U.S. energy firm Westinghouse is expected to sign a new agreement with state-run Nuclear Power Corporation of India for the supply of six nuclear reactors during U.S. President Donald Trump’s visit next week, officials said, aiming to kickstart a long-running project.

Mounting coronavirus fears knockdown Wall Street

U.S. stock indexes fell on Thursday, dragged down by technology heavyweights, as investors fretted over the rising number of coronavirus cases in China and other countries as well as the potential economic damage from the epidemic.

Exclusive: Canadian regulator considers changes to new drug pricing plan

Canada’s drug pricing agency is contemplating significant changes to how it will apply new regulations aimed at lowering costs, Reuters has learned, as drugmakers unhappy with the policy delay introducing new medicines in the country and blame it for job cuts.

Uber returns to Colombia less than a month after exit

Uber Technologies Inc resumed transporting passengers in Colombia on Thursday with a new service model that allows users to rent cars with drivers, just 20 days after it exited the Andean country following a ruling by regulators which the company described as arbitrary.

Exclusive: France’s Engie eyes U.S. energy services firm Ameresco – sources

French power utility Engie SA has approached Ameresco Inc, a U.S. provider of energy efficiency solutions and developer of renewable energy plants, to express interest in acquiring it, according to people familiar with the matter.

European Close Sparks Buying-Panic Bid After Morning Momo Massacre

European Close Sparks Buying-Panic Bid After Morning Momo Massacre

The head of the WHO says “this is no time for complacency.” Goldman warns “stocks are underestimating the effect of the virus.” Morgan Stanley warns of a “factor crash.” JPMorgan warned “this bubble will collapse.” Headlines suggesting a major increase in virus cases in Beijing. And an increasing number of firms are cutting outlooks and pointing to uncertainty about resumption of supply chains from China.

To quote John Wick “Oh, yeah, I think China’s back…” NOT!

NYT Reporter Accuses Iran Of ‘Covering Up’ Coronavirus Outbreak

NYT Reporter Accuses Iran Of ‘Covering Up’ Coronavirus Outbreak

Tehran surprised international health authorities yesterday when the Associated Press reported that two Iranians had died in the Iranian city of Qoms after succumbing to COVID-19. Early speculation that the cases might be foreigners, perhaps Chinese nationals, was quickly dispelled: Two Iranians with no recent history of traveling abroad had somehow contracted the virus.

And so far, the Iranian government hasn’t offered any kind of explanation as to how this might have happened. China is a major trading partner for Iran, but it’s chief interest is oil. To oversee the Islamic Republic’s response to the virus, Rouhani has formed a committee that will include Iran’s ministers of health and roads, in addition to “representation” from the military and IRGC. The government is also imposing ’emergency measures,’ though it wasn’t immediately clear what these would include.

MGM Seeks To Replace 2,000 Workers With Robots By 2020

MGM Seeks To Replace 2,000 Workers With Robots By 2020

Authored by Mike Shedlock via MishTalk,

Despite a contract that prohibits MGM from using robots to displace workers, the casino seeks to implement those plans.

Meet Nikola Motors’ Stunning EV Pickup Truck Competitor To Tesla’s Cybertruck

Meet Nikola Motors’ Stunning EV Pickup Truck Competitor To Tesla’s Cybertruck

What better name for a company that’s going to compete with Tesla than “Nikola Motors”?

Ostensibly looking to draw on all of the good aspects of the Tesla name, while not associating themselves with a CEO who calls national heroes ‘pedos’, threatens journalists or puts forth fake buyout bids for his company, Nikola Motors has slowly grown into a formidable hybrid truck design company that’s based in Phoenix.Â

And yesterday, the company announced its competitor to Tesla’s Cybertruck: the Nikola Badger.Â

Decoding the AGR math: Here’s what shot up the telcos’ bill

Decoding the AGR math: Here’s what shot up the telcos’ billTelcos’ unpaid licence fees amount to Rs 22,589 cr, while interest and penalties took total liability to Rs 92,641 cr.

Will the banking sector go the telcos’ way?

Will the banking sector go the telcos’ way?The telecom story can be a precursor to other sectors, especially banking and financial services.

Airlines’ revenue under coronavirus cloud

Airlines’ revenue under coronavirus cloudCarriers around the globe will incur revenue loss of $29.3 bn as an impact of the coronavirus outbreak.

January 2020 Leading Economic Index Improved

Written by Steven Hansen

The Conference Board Leading Economic Index (LEI) for the U.S increased 0.8 percent in January to 112.1, following a decline in December and an increase in November. – and the authors say it is “suggesting that the current economic expansion – at about 2 percent – will continue through early 2020”.

Bond Report: 30-year Treasury yield nears all-time low as coronavirus fears linger

U.S. Treasury yields fall sharply on Thursday as investors note the growing number of COVID-19 cases outside of China’s borders, raising concerns that a broader contagion could weigh on regional Asian economies.

Market Snapshot: Dow fights to defend perch above 29,000 as coronavirus uncertainty sparks skittish trading

U.S. large-cap stocks trade lower Thursday afternoon, clawing back from deeper late-morning losses, when the main stock indexes took a sharp dip from all-time highs, as investors struggle to find their footing amid the coronavirus outbreak.

Capitol Report: Roger Stone, longtime Trump ally, sentenced to 40 months in prison

Roger Stone, a longtime associate of President Donald Trump, on Thursday was sentenced to 40 months in prison after being convicted of lying to Congress, witness tampering and obstruction.