Ackman says Pershing Square no longer has hedges on stocks

spike

FILE PHOTO: Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian

(Reuters) – William Ackman’s Pershing Square Capital Management no longer has hedges on its stock portfolio, but still has some cash to invest if equities decline further as the United States battles the coronavirus outbreak, the billionaire investor said on Saturday.

Pershing Square earned roughly $2.6 billion by hedging its stock portfolio in early March through credit protection on investment grade and high yield credit indices. Much of the money

Read More

Exclusive: Amazon entices warehouse employees to grocery unit with higher pay

spike

(Reuters) – Amazon.com Inc is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters.

FILE PHOTO: Small toy figures are seen in front of diplayed Amazon logo in this illustration taken March 19, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

This move, known as labor sharing, highlights how the ecommerce giant is reallocating some of its vast workforce to handle a spike in online sales of groceries, as millions of American are stuck at home amid the COVID-19 outbreak.

Amazon offers

Read More

Graphic: Three months that shook global markets

spike

LONDON (Reuters) – How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression.

FILE PHOTO: The final numbers of the day are displayed above the floor of the New York Stock Exchange. March 20, 2020. REUTERS/Lucas Jackson/File Photo

The numbers have been staggering. $15 trillion has been wiped of world stock markets, oil has slumped 60% as Saudi Arabia and Russia have started a price war and emerging markets like Brazil, Mexico and South Africa have seen their

Read More