Randall Stephenson, AT&T's current CEO, said Friday he will retire, but will serve as executive chairman of the board until January 2021. The announcement was made during AT&T's virtual annual meeting. Stankey oversaw WarnerMedia after AT&T's $85 billion purchase of media company Time Warner....
The U.S. Federal Reserve announced Friday that banks can now allow account holders to make an unlimited number of withdrawals and transfers from their savings accounts. The Fed said the move would help ensure people can access their funds "at a time when financial events associated with the coronavirus pandemic have made such access more urgent." The Fed said it removed the limit because a recent policy shift had rendered it unnecessary....
Draftkings CEO Jason Robbins joins Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Dan Roberts to discuss the company’s merger with Diamond Eagle, and the future of sports betting. ...
(Bloomberg) -- The World Health Organization formed an international alliance to ensure that Covid-19 vaccines and treatments are distributed fairly. The U.S. Food and Drug Administration warned patients about taking malaria medications touted by President Donald Trump.Spain had its fewest deaths in five weeks, and new cases in Singapore dropped below 1,000 for the first time in five days. Russia reported the most new cases since April 19, and Germany had its worst day in almost a week. Chancellor Angela Merkel said the country is “far from being out of the woods.”Europe’s leaders inched toward a deal on rebuilding plans, while U.S. lawmakers overwhelmingly passed a $484 billion aid bill.Key DevelopmentsVirus Tracker: Cases top 2.7 million; deaths exceed 191,000Europe grapples with lockdowns as cases drop and economies reelMnuchin asks for equity stakes in exchange for $17 billion aidGilead sinks after latest data leak on virus drug trialTrump muddles virus response while...
(Bloomberg Opinion) -- How would you like to generate 40% annual returns for three decades? Build a firm with billions of dollars under management that's the envy of the industry? Become so influential that your peers -- assuming you have any -- are so in awe of you they are afraid to discuss you with the media?Sounds great, right? Well, forget about it. Jim Simons, the quant whiz who built teams of computer science wizards and math geniuses into Renaissance Technologies, is a once-in-a-lifetime talent. We learned from journalist Gregory Zuckerman that Simons’s fund returned an insane 40% annually. This year, according to Zuckerman, the firm’s flagship Medallion fund is up 24% after costs. Before fees, in the midst of the conoravirus crisis, the fund gained 39%.But here's the thing: You are not Jim SimonsWhat about Pershing Square Capital Management LP, run by Bill Ackman? Concerned about the impact of the coronavirus,...
