News That Matters

Tag: warns

Market’s historic rebound may soon hit a breaking point, PNC’s Amanda Agati warns

Market’s historic rebound may soon hit a breaking point, PNC’s Amanda Agati warns

Finance
PNC Financial's Amanda Agati is on alert. With the major indexes on the cusp of their second positive month in a row, the firm's chief investment strategist believes stocks are getting too expensive, and the historic rebound may soon hit a breaking point."The market is getting pretty far ahead of itself," she told CNBC's "Trading Nation" on Thursday. "The market is really pricing for perfection here."Since the March 23 low, the S&P 500 and Dow have surged 38% and 39%, respectively. Meanwhile, the tech-heavy Nasdaq is seeing an even bigger rally. It's up 41% since then."It's not the good kind of multiple expansion that we're seeing here with the bottom dropping out of earnings especially for smaller cap names where leverage is basically sitting at all-time highs," said Agati.Accord...
The Latest: WHO warns Brazil against reopening its economy

The Latest: WHO warns Brazil against reopening its economy

Health
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — World Health Organization warns Brazil against reopening its economy before it can perform enough testing. — California: churches can resume in-person services but congregations will be limited to less than 100. — Vast majority of shops in England will be allowed to reopen next month — World Health Organization said that it will temporarily drop hydroxychloroquine from its global study into experimental COVID-19 treatments. — British PM's aide says he did nothing wrong with long drive during lockdown. ——— RIO DE JANEIRO — The World He
Huddersfield owner Phil Hodgkinson warns ’50 or 60 clubs’ could go bust

Huddersfield owner Phil Hodgkinson warns ’50 or 60 clubs’ could go bust

Sports
English football's pyramid will be destroyed unless the game starts to plan for the financial impact of Covid-19 beyond the 2019-20 season, says Huddersfield owner Phil Hodgkinson. Hodgkinson thinks as many as "50 or 60" clubs could go bust.He says he is looking at a "worst-case scenario" of no fans allowed in stadiums for the 2020-21 season. "The problem is not whether we finish [this] season or not, it is what happens after that," he told BBC Sport.Having previously owned National League North side Southport, Hodgkinson has experience of the hand-to-mouth existence of many lower-league clubs."If we don't come to an agreement there will be no football pyramid. There are clubs I know of that ...
Rolls-Royce warns of ‘significant’ UK hit as 9,000 jobs are cut

Rolls-Royce warns of ‘significant’ UK hit as 9,000 jobs are cut

Business
Rolls-Royce has announced plans to cut 9,000 jobs - almost a fifth of its global workforce - as the coronavirus crisis takes a heavy toll on aviation.The engine-maker told Sky News it would result in a "significant" hit to employment within the UK but refused to put a number on the impact or say where the axe would fall. In an interview on Ian King Live, chief executive Warren East said he could not rule out site closures under a review being carried out by the company to help it navigate the downturn caused by COVID-19 that has grounded most of the world's airlines. ...
Coronavirus: No ‘single leap to freedom’, minister warns

Coronavirus: No ‘single leap to freedom’, minister warns

Science
Media playback is unsupported on your device The government will proceed with "extreme caution" exiting lockdown, the transport secretary said as he revealed plans to "get Britain moving again".Grant Shapps said the move beyond Covid-19 would be a "gradual progress" and not a "single leap to freedom". He pledged £250m for improvements to cycling and walking infrastructure but would not confirm a 14-day quarantine for passengers arriving in the UK.Another 346 UK coronavirus deaths were recorded, taking the total to 31,587. Can cities be reshaped for the world after lockdown? What do I need to know if I fly? Mr Shapps, who was speaking a day before the prime minister is due to address the country on lockdown measures, said there had been unprece