(Bloomberg) -- The auto industry -- already fretting lengthy factory shutdowns and depressed new-vehicle demand -- is starting to sound the alarm about a potential used-car price collapse that could have far-reaching consequences for manufacturers, lenders and rental companies.Used-vehicle auctions are for now virtually paralyzed, much like the rest of the economy. The grave concern market watchers have is that vehicles already are starting to pile up at places where buyers and sellers make and take bids on cars and trucks -- and that this imbalance will last for months.If that fear is realized and prices plummet, it will be detrimental to automakers and their in-house lending units, which likely will have to write down the value of lease contracts that had assumed vehicles would retain greater value. Rental-car companies also will get less money from selling down their fleet of vehicles, which are sitting idle amid a global pandemic that’s...
As the number of COVID-19 cases continues to rise, President Trump retweeted a threat to fire Dr. Anthony Fauci. Yahoo Finance’s Jessica Smith joins the On The Move panel to discuss....
Yahoo Finance’s Alexis Christoforous, Brian Sozzi, Heidi Chung and Dan Roberts discuss how the film industry has had to change as the coronavirus impacts movie theaters and film releases, and how Bob Iger has reasserted control of Disney. ...
Apple is set to redesign its new iPhone, borrowing extensively from the latest iPads and 5G technology. Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Dan Howley discuss the details....
(Bloomberg) -- Seventy coronavirus vaccines are in development, with three being tested in human trials, the World Health Organization said. The outbreak has stabilized across the U.S., according to the head of the Centers for Disease Control and Prevention.Parts of the U.S. may be ready to ease emergency measures in May, said Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases. Mayor Bill de Blasio of New York, the epicenter of the U.S. outbreak, said it could be summer or fall before the city can start returning to normal.U.S. stocks fell, while markets across Europe were closed for the Easter holiday.Key DevelopmentsCoronavirus Tracker: Global cases reach 1.86 million; deaths top 115,00070 coronavirus vaccines in development globallySpain reports smallest number of new infections since March 20Fauci says U.S. reopening could start ‘in some ways’ in MayCruise passengers spend Easter on ‘ghost ship’The Virus Should Wake Up the West: Micklethwait...
