Delta Air Lines stock plunged on Monday after Warren Buffett’s Berkshire Hathaway slashed its stake in the troubled airline. The billionaire investor’s conglomerate sold 13 million Delta shares for about $314 million last week, cutting its holding by 18%. Berkshire’s disposal was a surprise, given it raised its Delta stake in late February, and Buffett... Read More →

Credit Suisse expects that US gross domestic product will fall 33.5% in the second quarter amid the coronavirus pandemic, according to a Monday note.  The US economy is on track for its worst quarter on record going back to 1945.  Still, the bank expects the economy to bounce back in a “soft-v” shape in the... Read More →

  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. Wall Street had to quickly adapt to a new work-from-home reality, and firms are... Read More →

As businesses shut down amid the coronavirus pandemic, a record number of Americans have been left jobless. Under shelter in place conditions, people are still looking for work and businesses are still looking to hire. Private equity giant The Carlyle Group bought a majority stake in HireVue last year, and it’s offering HireVue’s platform to... Read More →

US stocks slid Thursday after jobless claims soared to 6.6 million, marking a second straight weekly record as coronavirus spurs layoffs. The spike in claims is roughly double the previous record seen last week and trounces economist estimates of 3.5 million new filings. Oil prices jumped. Brent crude traded roughly 6% higher Thursday morning after... Read More →

Law firm Cooley LLP is cutting the length of its summer associate program from 10 to six weeks, with a new start date June 15, the latest law firm to confirm to Business Insider that it is delaying its start date because of the novel coronavirus.  Other law firms that have confirmed a delayed, June... Read More →

This story was delivered to Business Insider Intelligence Payments & Commerce Briefing subscribers earlier this morning. To get this story plus others to your inbox each day, hours before they’re published on Business Insider, click here. Square’s Cash App, PayPal’s Venmo, and bank-owned Zelle have all contacted the US government to offer to help it... Read More →

US stocks slipped Tuesday as investors weighed a longer-than-expected recovery from the escalating coronavirus outbreak. The losses came as major banks revised their second-quarter GDP projections lower, citing a record jump in unemployment claims and severe financial tightening.  The Dow Jones industrial average is on track for its worst first quarter in history, while the... Read More →

Online job-hub company ZipRecruiter laid off 443 employees and furloughed dozens on Friday, just a few days after the CEO said in an all-hands meeting that the company was on track to hit its second-quarter revenue goals and wouldn’t be affected by the coronavirus.  The cuts hit across departments, including engineering and about two-thirds of... Read More →

Hello! This was the week that the economic toll of the coronavirus pandemic really became clear. On Thursday, the Labor Department revealed that around 3.3 million Americans filed for unemployment benefits in the week ending March 21, a record high. As Joseph Zeballos-Roig reported, the true unemployment number is likely much higher.  The scale and... Read More →