Highlight of the Week
Bloomberg qualifies for Nevada Debate
- Former NYC Mayor Michael Bloomberg hit 19% nationally in a poll released Tuesday morning.
- Bloomberg had not qualified for earlier debates because he was not accepting campaign donations, the billionaire will sponsor himself.
Europe’s largest bank reports downfall
- HSBC reported a 33% fall in 2019 pre-tax profit related to investment banking and commercial banking woes.”
- The bank has announced a major overhaul that will see a staff reduction of 35,000 over the next three years as it scales back operations in the US, Europe, and its investment bank. The bank plans to cut $100 billion in assets overall.
- The London-headquartered bank has been heavily impacted by the coronavirus outbreak. The bank derives the bulk of its earnings from business in Asia.
Coronavirus fears persist
- 10-year and 30-year Treasury notes, which move inversely to price, both shifted lower on Tuesday morning.
- On Monday, Apple warned it does not expect to meet its quarterly revenue forecast because of slow production and a weakened demand related to the coronavirus outbreak.
Bezos makes generous climate change donation
Amazon’s Jeff Bezos has pledged $10 billion to fight the planet’s ‘biggest threat’.