(Bloomberg) -- U.S. airlines reached preliminary deals to access billions of dollars in federal aid, securing a temporary lifeline as the industry waits for customers to start flying again.The agreements cover all major airlines, the Treasury Department said in a statement Tuesday, and position the government to start doling out $25 billion in assistance allocated for passenger carriers in the $2.2 trillion stimulus package signed into law March 27. American Airlines Group Inc. said it would get $5.8 billion in support, while Delta Air Lines Inc. said it would receive $5.4 billion.“This is an essential step, but just one of many that will get us through the next several months,” Delta Chief Executive Officer Ed Bastian said in a message to employees. “The funding, along with self-help measures we have taken, will prevent furloughs and pay rate reductions through the end of September, despite the 95% drop we’ve seen in passenger...
The British pound broke down rather significantly from the 200 day EMA on Wednesday, as we have seen a significant selloff from above the 1.26 level. By doing this, it has been a “shot across the bow” of the British pound bullish traders out there....
Earnings season kicks off this week, and market watchers are preparing for the worst. The upcoming release of first quarter financial results is marred by historic levels of uncertainty, with worry looming over Wall Street as investors await a more detailed look at the extent of COVID-19's impact on profits.For those feeling lost in all of the stock market fog, investing gurus can offer a sense of clarity. No one more so than billionaire David Shaw, a former computer science professor at Columbia University. Since founding his investment firm, D.E. Shaw group, in a small New York City bookstore in 1988, he has grown the firm from six employees and $28 million in capital to an estimated $47 billion, with it delivering $25 billion to its investors as of the end of 2016. While most of D.E. Shaw’s day-to-day operations are now managed by the Executive Committee, Shaw still remains involved...
