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In an announcement on Wednesday, the Walt Disney Company (NYSE: DIS) said it will slash its workforce by 32 thousand jobs as the ongoing COVID-19 crisis continues to wreak havoc on its business. The company said the lay off will primarily affect workers at its theme parks where foot traffic is at an all-time low this year. Disney shares are currently close to 5% up on the weekly chart. At £111.20 per share, the U.S. company is now trading close t…

In an earlier announcement, Marks & Spencer (LON: MKS) had expressed plans of opening more than 200 of its countrywide stores for the public on 26th December to benefit from post-Christmas sales that traditionally surge sharply on Boxing Day every year. On Thursday, however, the clothing and food retailer reversed its decision and offered an extended break to its workforce over the festive period. M&S currently employs over 70 thousand wo…

Benchmark Holdings plc (LON: BMK) expressed confidence in its financial position on Thursday as it completed planned asset disposals in the year that concluded in September. Benchmark opened about 5.0% up on Friday but lost more than 10% on market open. On a year to date basis, the British company is now close to 20% up. The price action should come in handy if you’re interested in investing in the stock market. Benchmark has £83.2 million of liq…

In a statement on Thursday, CEO Pascal Soriot of AstraZeneca plc (LON: AZN) expressed plans of launching a new global trial that will study the efficacy of its Coronavirus vaccine at a lower dosage. AstraZeneca opened more than 1% down on Friday. It is currently trading close to the same per-share price at which it started the year 2020. The company shares that you can learn to buy online here, have recovered roughly 25% since a year to date low…

The British pound is heading for the fourth consecutive week of solid gains against the dollar. The GBP/USD has gained almost 1% this week even as the outlook of the UK economy remains grim. Brexit optimism A likely reason for the strength of the pound is the rising optimism that the UK and the EU will reach an agreement in the next few weeks. The talks, which were postponed recently, will restart this weekend in London. While differences between…

The EUR/USD is in a tight range as traders reflect on the high likelihood of a double-dip recession in the European Union. The pair is trading at 1.1918, which is its highest level since September 1. Double-dip recession The European Central Bank (ECB) released minutes of the monetary policy meeting held two weeks ago. The minutes showed that the bank was considering adding more stimulus to support the bloc as it goes through its worst phase in d…

The USD/SEK downward trend continued today after the November Riksbank interest rate decision. It is trading at 8.500, which is 18% lower than the year-to-date high of 10.4885. EUR/SEK and GBP/SEK have also been on a sharp downward trend. Riksbank interest rate decision Sweden has handled the Covid-19 pandemic differently from other countries. The country resisted implementing large-scale lockdowns in both the first and second waves of the virus….

The US dollar index (DXY) fall from grace continued overnight as traders reacted to yesterday’s data dump and the FOMC minutes. It is trading at $91.92, the lowest it has been since September this year. FOMC minutes The Federal Reserve released minutes of its recent monetary policy meeting where they left interest rates and quantitative easing unchanged. In general, the minutes did not show anything new from the Fed. The only major policy they di…

Stellar (XLM) price is trading 92% higher in November after to record a 17-month high in the anticipation of the Protocol 15 launch as well as Bitcoin’s breakout. Fundamental analysis: Protocol 15 upgrade launched Stellar launched the long-anticipated Protocol 15 upgrade earlier this week. The new protocol brings two new features – Claimable Balances and Sponsored Reserves which will facilitate the development of apps on the Stellar network…

Huobi Global, a leading crypto exchange based in Singapore, has had a troublesome year, filled with FUD and various rumors. The flagship exchange of Huobi Group, however, seems to have finally seen some positive progress, as it announced the launch of a new independent exchange yesterday, November 27th. Huobi launches another new subsidiary The new exchange is called Huobi Labuan, and it is targeting the Malaysian market. The exchange is launchin…

The cryptocurrency sector was recently hit with a strong wave of corrections, just after the price of Bitcoin (BTC) hit a new 2-year high of $19,100. As the price started dropping, the correction took over the rest of the market, as well. Traders and investors rushed to buy Tether (USDT), which allowed the stablecoin to massively increase its market cap. Tether market cap surges by $1b in 9 days Tether’s (USDT) market cap surge started some…

Tamagotchi was a major hit when it originally came out, and while many newer generations do not even remember the game, the older ones still appreciate it to this day. This is why a Tamagotchi-inspired game developed on Aave’s (AAVE) blockchain, Aavegotchi, started attracting quite a bit of attention recently. Everipedia announces investment in Aavegotchi Everipedia used its Twitter account to announce the recent Aave investment two days ag…

Global investment giant Guggenheim Partners wants to get in on the bitcoin action and informed clients through a regulatory filing it could allocate up to 10% of its net asset value in a bitcoin ETF, Bloomberg reported. Only interested in one ETF According to the regulatory filing, Guggenheim is interested solely in gaining exposure to the popular digital currency through the Grayscale Bitcoin Trust (Btc) (OTCMKTS: GBTC). The ETF offers investors…

Gold prices peaked in August at more than $2,000 an ounce and have since lost momentum and erased around four months’ worth of gains. Platinum on the other hand is up 14% in November and some are wondering if gold’s claim to fame has come to an end. Platinum a play on clean energy According to The Wall Street Journal, the growing demand for clean energy is a clear catalyst for platinum. While the science behind platinum is complicated, the…

Two of the most anticipated IPOs for the end of 2020, Airbnb and DoorDash, could come at a higher price to investors, according to The Wall Street Journal.  Lofty valuations Vacation rental online marketplace company Airbnb hopes to value itself between $30 billion and $33 billion ahead of a late 2020 initial public offering, sources close to the matter told WSJ. The company plans on kicking off its investor roadshow this Tuesday and will tr…

The U.S. stock indices have advanced on a weekly basis, supported by the news that the U.S. Food and Drug Administration is likely to approve the coronavirus vaccine by the mid of December. The S&P 500 and the Nasdaq reached a new record high last week, while the Dow Jones Industrial Average closed the week above 29,990 for the first time. Traders and investors are still ignoring record coronavirus contagions in the U.S. and the stocks contin…

Electric automaker Tesla, Inc. (NASDAQ: TSLA) will see its stock included in the S&P 500 index in the coming weeks and the impact on the stock is unclear given the vast size of the company. Index member on Dec. 21 Tesla will officially be included in the S&P 500 index on Dec. 21 and the index operator isn’t sure how to proceed. Typically, the inclusion of new stocks within the crowded index is an event that few care about. After all, the…

As 2020 comes to a close, Zoom Video Communications Inc (NASDAQ: ZM) has already earned the title of one of the hottest tech stocks. The video communication company has seen demand surge nearly overnight as COVID-19 lockdowns forced companies to introduce new technologies so workers can communicate with each other. But a vaccine against the novel coronavirus implies a return to some form of normalcy in the back half of 2021. As such, investors ar…

Shares of Slack Technologies Inc (NYSE: WORK) skyrocketed higher by nearly 40% on Wednesday after media outlets reported that industry titan Salesforce.com, inc. (NYSE: CRM) is in talks to acquire the software-as-a-service business and workplace communication tool. Deal details Media reports on Wednesday said that Salesforce and Slack held talks to combine themselves as part of a merger. The price tag on a potential deal remains unknown but inves…