Sales & Marketing news

• Jobless people would be better off with a second stimulus check than with the payroll tax cut that Trump is championing: McConnell

  25-07-2020 21:27 via feedproxy.google.com
  
  McConnell said the GOP scrapped the payroll tax cut since a stimulus check carried more benefits for jobless people.
  "I think we are a lot better off just to send another direct cash payment to those who have been left out of all of this," McConnell told WKYT's "Kentucky Newsmakers with Bill Bryant."
  Democrats and many Republicans opposed the payroll tax cut, a key priority for President Trump.
  A payroll tax cut increases wages over time across paychecks, while a direct payment delivers a sum of
  
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• The GOP could reduce federal unemployment benefits to $200 a week. That would shed an estimated 3.4 million jobs from the economy.

  25-07-2020 18:05 via feedproxy.google.com
  
  The GOP is pushing to reduce the enhanced unemployment benefits to around $200 a week.
  The move could shed an estimated 3.4 million jobs from the economy, according to the left-leaning Economic Policy Institute.
  Many economists credit the federal government's intervention in boosting state unemployment checks with prompting quicker rebounds in consumer spending that helped prop up the economy during a recession.
  Visit Business Insider's homepage for more stories.Republicans are proposing scaling
  
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• Wall Street analysts are predicting an earnings bloodbath for real-estate giants like CBRE and Cushman & Wakefield, with a Great Recession-sized hit packed into just a few months

  25-07-2020 16:21 via feedproxy.google.com
  
  Analysts are predicting one of the most bruising quarters in recent memory for major real-estate firms such as CBRE, Cushman & Wakefield, and JLL, which are scheduled to report earnings in the coming weeks.
  The publicly traded companies derive around 50% of their earnings from real-estate transactions, such as sales and leasing, that have evaporated as the coronavirus pandemic has stalled the economy.
  While it could take years for their earnings to rebound, real-estate services companies hav
  
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• The $600 federal weekly unemployment benefits are ending for millions of Americans. Here are 4 plans that Congress could replace it with.

  25-07-2020 15:38 via feedproxy.google.com
  
  Over 30 million people are collecting unemployment benefits due to the recession stemming from the coronavirus pandemic.
  Democrats and Republicans are split on how to address the historic unemployment crisis.
  Ideas include extending ramped-up unemployment benefits, paying people to return to work, and supplementing state benefits so they amount to 70% of a worker's past earnings.
  Visit Business Insider's homepage for more stories.Congress is in the middle of a heated debate over the $600 weekly
  
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• EXCLUSIVE: Inside an exodus at Deutsche Bank's vaunted credit-trading desk, where even rock stars are feeling a pay squeeze that shows nothing's off limits from the struggling bank's cutbacks

  25-07-2020 14:41 via feedproxy.google.com
  
  Deutsche Bank has experienced a rash of departures this year in its credit-trading group, one of the bank's top businesses.
  Exits have cleaved 25% of the headcount in the firm's vaunted US distressed-credit group, and exits have hit high-yield, investment-grade, and loan trading as well.
  Sources told Business Insider even strong performers in the credit franchise saw their comp slashed earlier this year, which likely spurred some departures. 
  The exits have left Deutsche short-handed during
  
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• Bank of America's equities division just shook up its senior leadership twice in one week. Here's our latest exclusive org chart.

  25-07-2020 14:37 via feedproxy.google.com
  
  Business Insider has been mapping out the power structure in the global banking and markets businesses overseen by Bank of America Chief Operating Officer Tom Montag — one of the most powerful executives on Wall Street.
  Of the three major investment-banking groups, equities is the smallest, accounting for $4.5 billion in revenue last year.
  It's also more shrouded in mystery. Until recently, the stock-trading unit had one primary power broker: Fabrizio Gallo, who is one of the longest-tenur
  
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• Goldman's secret weapon — Deutsche Bank trader exodus — WeWork's empty space

  25-07-2020 14:30 via feedproxy.google.com
  
   
  Welcome to Wall Street Insider, where we take you behind the scenes of the finance team's biggest scoops and deep dives from the past week. 
  If you aren't yet a subscriber to Wall Street Insider, you can sign up here.
  Goldman Sachs exec Ram Sundaram has solidified his position as a senior leader in the firm's mighty markets division. Sundaram, named sole head of the currencies and emerging-markets team last month, is also responsible for a structured credit group known for much of it
  
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• A top Wall Street analyst lays out 5 reasons why stocks can climb another 5% before year-end, even in a choppy market

  25-07-2020 14:29 via feedproxy.google.com
  Stocks are enjoying a summer melt-up, but the S&P 500 can swing another 5% higher by year-end for a few key reasons, Chris Harvey — the head of equity strategy at Wells Fargo — said in a note.
  Lowered earnings expectations supported the "less-bad" for stocks, as well as slowing coronavirus case growth, has lifted a key pressure on stock valuations, Harvey said.
  The Federal Reserve's rate cuts and corporate bond-buying raised the relative value of equities, Wells Fargo added, as c
  
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• The US's $600 unemployment boost expires today. Here's a list of 4 other programs set to end soon.

  25-07-2020 13:45 via feedproxy.google.com
  
  Two US economic-relief programs have started to expire in recent days: the federal eviction moratorium that ran out on Friday, and the extra $600 weekly unemployment benefit that concludes this weekend.
  In the coming months, there are additional expirations the US faces that could derail the economic recovery if extensions aren't put in place. 
  Detailed below are four other economic-relief programs set to run out by the end of September.
  Visit Business Insider's homepage for more stories.Th
  
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• 'Castles built on sand': Famed economist David Rosenberg says investors are being too reckless as stocks rally — and warns that a vicious long-term bear market is far from over

  25-07-2020 12:47 via feedproxy.google.com
  
  David Rosenberg — the famed economist and founder of Rosenberg Research —  thinks investors are putting too much blind faith in the Federal Reserve's ability to prop up a "frothy" market.
  In addition to a perceived Fed-backstop, Rosenberg notes weak market fundamentals and lofty valuations as reasons for his concern.
  Rosenberg thinks the market is in the midst of a short-term bounce, not a long-term rally.
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• Mitch McConnell says he hopes to negotiate a stimulus agreement 'in the next few weeks' with millions of Americans set to lose their enhanced unemployment benefits

  25-07-2020 03:19 via feedproxy.google.com
  
  Senate Majority Leader Mitch McConnell said on Friday he hopes to reach a final stimulus agreement "in the next few weeks."
  The prolonged time frame could spell financial calamity for millions of unemployed Americans collecting boosted unemployment benefits that expire this weekend.
  Without any replacement in place, unemployed people drawing those boosted paychecks now face an income drop of 50% to 75% depending on their state unemployment benefits. 
  Visit Business Insider's homepage for mo
  
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