J.C. Penney files for bankruptcy and its survival couldn’t be more uncertain

J.C. Penney files for bankruptcy and its survival couldn’t be more uncertain

Another fallen retail giant has walked into the graveyard. And whether it ever leaves — and in what form — is a guess at best. Debt-laden department store J.C. Penney filed for Chapter 11 bankruptcy protection Friday evening. The filing — expected for the better part of a week — was being held up by […]
Warren Buffett slashes stake in Goldman Sachs, exits Travelers

Warren Buffett slashes stake in Goldman Sachs, exits Travelers

Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) stock moves for the first quarter are out. According to a regulatory 13-F filing for the first quarter ended March 31, Berkshire trimmed its stake in Goldman Sachs (GS) in the quarter, selling around 10 million shares...
Why optimism over a coronavirus vaccine might be misplaced

Why optimism over a coronavirus vaccine might be misplaced

As COVID-19 infections rise worldwide, pharmaceutical companies working on coronavirus vaccines have floated promising — and sometimes aggressive — timelines for regulatory approval. However, it’s highly unlikely that any treatment will see the light of day in 2020,...