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Bet on bank stocks now before a virus vaccine and easier lending lifts the sector in 2021, Jefferies says

6 days ago   |   By Business Insider

People walk past a Citibank branch of Citigroup in New York. Profit plummeted at the bank because of COVID-19 pandemic.
Ron Adar/SOPA Images/LightRocket/Getty Images
Jefferies raised its rating on financial stocks to "bullish" from "modestly bullish" on Wednesday, citing loosened lending conditions and new hopes for a near-term vaccine. Bank stocks are among the most sensitive to macroeconomic trends, and the latest COVID-19 surge "is likely to lead to some weaker economic data and potentially higher impairment charges," the team led by Sean Darby said in a note. Yet the firm's October...
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US stocks decline as COVID-19 shutdown concerns persist

6 days ago   |   By Business Insider

Paul Hennessy/NurPhoto via Getty Images
US stocks fell on Thursday as concerns about another round of COVID-19-related lockdowns was heightened after the New Yor City school system transitioned to remote learning. A rise in daily COVID-19 cases led to an infection rate of more than 3% in New York City, which spurred Mayor Bill DeBlasio to shut down physical learning at schools on Wednesday. On the economic data front, 742,000 more Americans filed for unemployment last week, more than experts had forecast. Watch major indexes update live here. US stocks declined on Thursday as investor...
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AstraZeneca gains after its COVID-19 vaccine produced immune response in elderly, Oxford study shows

6 days ago   |   By Business Insider

Steve Parsons-WPA Pool/Getty Images
AstraZeneca's COVID-19 vaccine demonstrated a strong immune response in elderly patients, according to a study from the University of Oxford. Data from the Phase II vaccine trial was published in the Lancet medical journal on Thursday. "This is a very important step, because the big worry with any vaccine is that it doesn't work so well in older people," the Lancet's editor in chief told Bloomberg. Visit Business Insider's homepage for more stories. Another batch of encouraging data on the COVID-19 vaccine front was released on Thursday, this time from...
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Oxford's COVID-19 vaccine is safe and produces an immune response in older adults, encouraging early trial results suggest

6 days ago   |   By Business Insider

Kate Bingham, Chair of the Government's Vaccine Taskforce, after starting her Novavax trial at the Royal Free Hospital, north London on October 13, 2020.
Kirsty O'Connor/PA Images via Getty Images
Early trial results published in The Lancet suggest The University of Oxford and AstraZeneca's COVID-19 vaccine produces an immune response and is safe in older adults.
This is important because older adults are more likely to develop severe cases of the virus, and some vaccines aren't as effective on them.
Older people who took part in the Oxford COVID-19 vaccine trial were less likely to have...
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Global stocks sag, as spread of COVID-19 across the US and Europe douses vaccine optimism

6 days ago   |   By Business Insider

Joanne Millar, store manger of Joules in Belfast, places a sign in the shop window about compulsory face masks.
Liam McBurney/PA Images via Getty Images
Global shares have tumbled, as the spread of COVID-19 threatens economic recovery and offsets optimism over the rollout of a vaccine.
Oil futures dropped after data shows a steep decline in US energy use in the latest week, as lockdowns and restrictions on movement came into force.
Government bond yields marched lower, reflecting some of the rising anxiety among investors, along with a spike in a measure of European market...
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Jaguar Land Rover Files To Halt Sales of Volkswagen SUVs Over Terrain...

Jaguar Land Rover Files To Halt Sales of Volkswagen SUVs Over Terrain Response System Similarities

Bloomberg reports that Jaguar Land Rover is seeking to block the import and sale of VW Group SUVs from Porsche, Audi, Lamborghini and Volkswagen. In a claim with the U.S... Read more ...

China reports five new COVID-19 cases vs 22 a day earlier

China reports five new COVID-19 cases vs 22 a day earlier

China recorded five new COVID-19 cases on Nov. 24, down from 22 a day earlier, the national health authority said on Wednesday. All new cases were imported infections... Read more ...

NYC tourism down two thirds with only 23 million people visiting in 2020

NYC tourism down two thirds with only 23 million people visiting in 2020

New York City's tourism is down two thirds as a result of the COVID-19 pandemic, with 23 million people still visited the city in 2020, and experts say it won't recover until... Read more ...

Here's how Swamy Kotagiri, incoming CEO of the US's largest auto parts...

Here's how Swamy Kotagiri, incoming CEO of the US's largest auto parts manufacturer, is using an 'open for business mindset' to lead the company

Magna International Magna International, the largest auto-parts manufacturer in the US and third-largest in the world, named a new CEO in October. Over the course of over 30... Read more ...

Our Annual Reminder That There Is No Such Thing As A 'Black Friday' Car Deal

Our Annual Reminder That There Is No Such Thing As A 'Black Friday' Car Deal

Because many Americans have not altered their travel plans for Thanksgiving, creating what could be ideal conditions to further entrench the pandemic, I feel I should remind... Read more ...

Top 3 Christmas Movies to Watch During the Holidays

Top 3 Christmas Movies to Watch During the Holidays

There is only one thing to look forward to this year: Christmas. Are you excited? To put you in the mood for the festive season, don't wait any longer. Wrap yourself up in your... Read more ...

6 Reasons to Say WelcomeBacktoTravel in Malta

6 Reasons to Say WelcomeBacktoTravel in Malta

As more destinations around the globe reopen to travelers, we are ready to get back to one of our favorite activities. Join us over the next several weeks as we take you to... Read more ...

China reports 2 virus cases after mass testing

China reports 2 virus cases after mass testing

China on Tuesday reported two new coronavirus cases in the cities of Shanghai and Tianjin as it seeks to prevent small outbreaks from becoming larger ones. The National Health... Read more ...

Iraq all set to re-issue entry visas for foreign tourists

Iraq all set to re-issue entry visas for foreign tourists

After experiencing months of border lockdown due to the pandemic worldwide, Iraq will start facilitating its entry visas for all international tourists. This step is expected... Read more ...

China urges the world to opt for QR code based global travel arrangement

China urges the world to opt for QR code based global travel arrangement

At the recently held G20 Summit, Chinese President Xi Jinping called for a “global mechanism” that could use QR codes to open up international travel. He said, “we need to... Read more ...