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<ul><li>Goldman Sachs equity research said Titan would see a slower store addition across categories due to impact of social distancing, weak demand and potential cashﬂow challenges. </li><li>Goldman Sachs equity research also says that the wedding segment of Titan accounts for 35% of the annual sales. Due to the lockdown and social distancing, its wedding sales are affected. </li><li>The report also predicts that the discretionary portion of Titan’s jewellery sales which accounts for 65% of the business is likely to see a more sustained impact on demand.</li></ul>Any other year, this week and this quarter would have been one of Titan’s best. It would be a day after Akshay Tritiya and the traditional wedding season that lasts from February to May — would be at its peak. This time around, not only are their stores shut due to the lockdown for over a month, many people have postponed weddings. It affects the jewellery and watch-maker greatly as 35% of its annual sales come from weddings. And the business was going good until the Great Lockdown and Covid-19, disrupted it, the company said. <div type="image" title="35% of jewelry sales come from wedding driven demand" msid="75405200" hostid="261" caption="&amp;lt;p&amp;gt;35% of jewelry sales come from wedding driven demand&amp;lt;/p&amp;gt;"></div> But it’s not just wedding business that it stands to lose. Going ahead, fewer people will care to buy jewellery for occasions or otherwise. As a result, Titan’s share price plunged over 21% in the last three months. “We believe the disruption being caused by the COVID 19 driven lockdown is not transient in nature and could have a prolonged impact on discretionary demand growth over the medium term,” said Goldman Sachs report which downgraded the stock from neutral to sell. <div type="Article" hostid="261" msid="75399506" title="Coronavirus cases in India inches towards the 28,000 mark— 22% recovered and 3.1% dead as of April 27" mstype="2" mssubtype="0"></div> Moreover, Titan businesses will offer lower returns due to weak sales. The report expects Titan to optimise costs through lower ad-spends. In spite of that, it still expects its jewellery profit margins to decline to 10.3% in FY21 from 11.3% in FY20E due to operating leverage. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2116340" data-url="https://flo.uri.sh/visualisation/2116340/embed"></div>]]></cdata></div> Even if weddings restart in all their splendour, sales of jewellery will not pick up according to Goldman Sachs equity research. The economic slowdown and the resultant job loss and pay cuts has already hit consumer confidence and discretionary spends will be the worst hit. “We expect the current uncertain macroeconomic environment will lead to lower consumer expenditure on weddings over the next few quarters,” cited the Goldman Sachs report. Goldman Sachs equity research predicts that the discretionary portion of Titan’s jewellery sales which accounts for 65% of the business will be affected for a long time. “Indian jewellery demand has a positive correlation with real GDP growth,” the report said. The research firm forecasts Indian GDP to grow at -0.4% indicating Titan’s sales will remain muted for the next two years. Long-term destruction Titan itself has admitted this. <a href="https://www.businessinsider.in/business/news/titan-says-severe-impact-of-coronavirus-on-q4-revenue/articleshow/75060929.cms">“Consequent to the serious disruptions in operations in March, </a>revenue growth for the quarter and consequently for the year has been impacted severely,” the company said in its quarterly update Titan, which was on a growth path, will have to pull back its plans. “Titan would see a slower store addition across categories due to impact of social distancing, weak demand and potential cashﬂow challenges at franchisee partners during the pandemic,” the report said. “We now expect only 75 new stores in FY21/FY22 combined vs our expectations of 100 earlier in February 2020,” cited the report. SEE ALSO: <a href="https://www.businessinsider.in/india/news/data-of-coronavirus-patients-state-wise-in-india/articleshow/74669748.cms">Coronavirus cases in India state wise</a> <a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a>

Without weddings and fewer Indians in a celebratory mood, Titan’s sales to remain muted for the next 2 years

<ul class="summary-list"><li>Donald <keyword id="6354862" type="UNKNOWN" weightage="60" keywordseo="trump">Trump</keyword> signed an <keyword id="944390" type="PERSON" weightage="60" keywordseo="executive-order">executive order</keyword> on Thursday that calls for "transparency and accountability from online platforms."</li><li>The order represents a remarkable and direct challenge to <keyword id="6354632" type="UNKNOWN" weightage="60" keywordseo="social-media">social media</keyword> companies like <keyword id="6354616" type="UNKNOWN" weightage="60" keywordseo="Twitter">Twitter</keyword> and <keyword id="6354576" type="UNKNOWN" weightage="60" keywordseo="facebook">Facebook</keyword>, and comes two days after Twitter fact-checked two of Trump's tweets pushing false claims about voting by mail.</li><li>Among other things, the order takes aim at Section 230 of the 1996 Communications Decency Act, a foundational law that has shaped today's internet and which shields internet companies from being held liable for content users post on their platforms.</li><li>Trump's order could completely reshape the internet landscape and undermine the business models of social <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">media</keyword> companies, but many legal experts say the order has significant flaws that may not hold up in court.</li><li>The executive order comes at a time when the coronavirus has caused more than 100,000 deaths in the US and the Trump administration's reponse to the pandemic has been criticized, leading some observers to suggest the social media executive order is a convenient way for Trump to change the subject.</li></ul>Here's everything that's happened involving Donald Trump's social media executive order, and all the latest information about what it means:<h2>The big story</h2><ul><li><a href="https://www.businessinsider.com/trump-signs-executive-order-threatening-twitter-facebook-conservative-bias-2020-5?r=eo-landing">Trump signs executive order threatening social-media companies after Twitter fact-checked his tweets</a></li><li><a href="https://www.businessinsider.com/full-text-donald-trump-executive-order-on-social-media-2020-5?r=eo-landing">Read the full executive order about social media companies that President Trump signed</a></li></ul><h2>Latest news</h2><ul><li><a href="https://www.businessinsider.com/trump-administration-hit-with-first-lawsuit-executive-order-social-media-2020-6?r=eo-landing">The Trump administration was just hit with the first lawsuit challenging its executive order targeting social-media companies</a></li><li><a href="https://www.businessinsider.com/trump-biden-want-to-revoke-section-230-for-different-reasons-2020-5?r=eo-landing">Trump and Biden both want to revoke Section 230, but for different reasons</a></li><li><a href="https://www.businessinsider.com/trump-twitter-renew-attack-tag-tweet-glorifying-violence-2020-5?r=eo-landing">Trump attacked Twitter after it restricted his post for 'glorifying violence' and said the company is unfairly targeting him</a></li><li><a href="https://www.businessinsider.com/twitter-warning-trump-tweet-george-floyd-glorifying-violence-2020-5?r=eo-landing">Twitter slapped a 'glorifying violence' label on a Trump tweet that threatened George Floyd protesters in Minneapolis with getting shot</a></li></ul><ul><li><a href="https://www.businessinsider.com/trump-executive-order-social-media-explicitly-cites-personal-twitter-feud-2020-5?r=eo-landing">Trump's executive order specifically calls out his feud with Twitter over its move to add fact-check labels to his misleading tweets about mail-in voting</a></li><li><a href="https://www.businessinsider.com/fcc-commissioner-trumps-social-media-executive-order-does-not-work-2020-5?r=eo-landing">An FCC commissioner slammed Trump's executive order on social media, calling it an attempt to turn the FCC into 'the President's speech police'</a></li><li><a href="https://www.businessinsider.com/fake-headlines-mark-zuckerberg-satire-test-facebook-policies-2020-5?r=eo-landing">Satirical websites are testing Facebook's policy on not being the 'arbiter of truth' by running false headlines claiming Mark Zuckerberg is dead or abusive</a></li></ul><h2>Analysis and important background</h2><ul><li><a href="https://www.businessinsider.com/what-is-section-230-internet-law-communications-decency-act-explained-2020-5?r=eo-landing">What you need to know about Section 230, the controversial part of an internet law Trump targeted in a new executive order</a></li><li><a href="https://www.businessinsider.com/trump-executive-order-twitter-section-230-dead-on-arrival-2020-5?r=eo-landing">Legal and tech policy experts say Trump's draft executive order cracking down on social-media companies is dead on arrival</a></li><li><a href="https://www.businessinsider.com/trump-online-censorship-executive-order-free-speech-first-amendment-2020-5?r=eo-landing">Trump's executive order cracking down on 'online censorship' has nothing to do with free speech</a></li><li><a href="https://www.insider.com/trump-social-media-executive-order-not-crazy-will-probably-work-2020-5?r=eo-landing">Trump's social-media order isn't crazy, and it will probably work</a></li><li><a href="https://www.businessinsider.com/trump-incites-harassment-twitter-employee-over-fact-checking-2020-5?r=eo-landing">Trump is effectively inciting harassment of a Twitter employee in response to its content-policy enforcement. The company is in an impossible position.</a></li><li><a href="https://www.businessinsider.com/trending-the-real-threat-to-facebook-and-twitter-2020-5?r=eo-landing">The real threat to Facebook and Twitter isn't a pandemic or a president</a></li></ul><h2>What it means for Twitter, Facebook, and other internet companies, and how key players are reacting</h2><ul><li><a href="https://www.businessinsider.com/silicon-valley-new-playbook-washington-dc-government-regulation-2020-6?r=eo-landing">The future of Facebook, Twitter and Google is under attack in Washington DC. Internet companies are mapping out a new strategy mixing confrontation and conciliation.</a></li><li><a href="https://www.businessinsider.com/facebook-hit-trump-executive-order-despite-appeasement-conservatives-2020-5?r=eo-landing">Facebook tried to appease its conservative critics for years. It got hit by Trump's executive order on social media anyway.</a> </li><li><a href="https://www.businessinsider.com/critics-trump-clampdown-social-media-hurt-competition-to-facebook-2020-5?r=eo-landing">President Trump's clampdown on social media could hurt startups and cripple competition with Facebook and Twitter</a></li><li><a href="https://www.businessinsider.com/trump-executive-order-facebook-mark-zuckerberg-twitter-free-speech-policies-2020-5?r=eo-landing">Trump's executive order is pushing social media titans Mark Zuckerberg and Jack Dorsey to clash over how they handle free speech</a></li><li><a href="https://www.businessinsider.com/tech-companies-named-in-trump-executive-order-twitter-facebook-google-2020-5?r=eo-landing">Trump's executive order calls out YouTube, Instagram, Twitter, and Facebook — but Google's name curiously disappeared from the final version of the order</a></li><li><a href="https://www.businessinsider.com/trump-twitter-employee-bias-yoel-roth-2020-5?r=eo-landing">Trump is attacking a Twitter employee over the company's decision to fact-check him because the employee criticized Trump in past tweets</a></li></ul>

Trump has officially declared war on Twitter and Facebook. Here's the latest on the executive order targeting social media and the reaction at internet companies.

<ul class="summary-list"><li>"Totally Under Control" is the new film codirected by the Oscar-winning documentarian Alex Gibney that depicts the Trump administration's hapless early response to the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>.</li><li>From Trump's lies about <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword>'s lethality, to Jared Kushner's ridiculous plan to have young volunteers armed with private laptops and Gmail accounts be in charge of securing the nation's supply of personal protective equipment, Gibney's film depicts each misstep that made the US crisis so distinctly horrible.</li><li>"The result looks more like a true-crime film than purely a film about competence, because the death toll was so high and the crimes of fraud and negligence are so extreme," Gibney told Business Insider's <a href="https://www.businessinsider.com/author/anthony-l-fisher">Anthony L. Fisher</a>.</li><li>This is an <keyword id="6356002" type="UNKNOWN" weightage="100" keywordseo="opinion">opinion</keyword> column. The thoughts expressed are those of the author.</li></ul><a href="http://www.jigsawprods.com/alex-gibney/">Alex Gibney</a>, the Oscar, Emmy, Peabody, and Grammy award-winning documentarian, has directed dozens of acclaimed films.Among the many disparate topics he has tackled on-screen include torture and the "war on terror" ("Taxi to the Dark Side"), the cruel scapegoating of the Chicago Cubs fan Steve Bartman ("Catching Hell"), Scientology ("Going Clear"), corporate corruption ("Enron: The Smartest Guys in the Room"), and last year's hugely popular HBO film about the disgraced Theranos founder, Elizabeth Holmes ("The Inventor: Out for Blood in Silicon Valley").Gibney's latest film, "Totally Under Control" (codirected with Suzanne Hillinger and Ophelia Harutyunyan), documents the slow-moving disaster of the Trump administration's early response to the coronavirus pandemic.From the early warnings that Trump dismissed, to the shockingly ineffective leadership at Centers for Disease Control and Prevention, to Jared Kushner's tragiccomic group of 20-somethings emailing business connections to secure personal protective equipment, "Totally Under Control" uses archival footage as well as new interviews with whistleblowers, medical experts, and doctors on the front lines of the pandemic to contextualize a great many of the reasons the US has had the worst COVID-19 response of any developed nation."<a href="https://www.youtube.com/watch?v=Ut4QjbruS50">Totally Under Control</a>" is available on video-on-demand this week, and it premieres on Hulu on October 20. The Business Insider columnist <a href="https://www.businessinsider.com/author/anthony-l-fisher">Anthony L. Fisher</a> spoke with Gibney via Zoom this week.This interview has been edited for space, style, and clarity.This is the first widely released documentary that's been shot entirely during the <keyword id="8764262" type="UNKNOWN" weightage="60" keywordseo="covid">COVID</keyword> era. What was the process like?It was tough to figure out how to shoot during COVID, both in how to get images that look good and represented the moment and also how to do so in a way that was safe, both for the camera folks but also more importantly for the subjects.The film had two approaches. One was the COVID cam — which was kind of invented by [cinematographer] <a href="https://www.imdb.com/name/nm1304251/">Ben Bloodwell</a>. It's sort of a tray with a handle, it's got a laptop, it's got a DSLR [camera] and a microphone. And we would send it to wherever the interview subject was and an assistant cameraperson would pick it up, put it on that person's porch, connect the internet, and then leave. They'd wait in a nearby car in case there was a problem.Then the person would go outside and pick up the COVID cam. It was already on, so Ben could see the person, talk to them, and actually remotely operate the camera and get a nice-looking image.The other option we had was the Airbnb option. Ben or another cinematographer would go to an Airbnb, kind of scrub it down, and then by themselves set up the lights, set up the sound, set up the chair, and put this big screen in front with shower curtains and everything — a virus barrier. The lens poked out, and on top of the lens was a kind of a teleprompter, and an image of whoever was conducting the interview would be projected. So the interview subjects would look directly into the barrel of the lens, and that had a kind of Zoom aesthetic, but nevertheless was better-lit and had a more cinematic quality.<div type="image" title="trump fl rally" height="804" width="1609" msid="78662071" hostid="261"></div><h2>Unspooling the disaster of Trump's early COVID response</h2>One moment in "Totally Under Control" that leaped out at me was Trump saying on February 28, "<a href="https://www.nbcnews.com/politics/2020-election/democratic-candidates-hit-trump-s-coronavirus-hoax-claim-n1145911">we have lost nobody to coronavirus</a>." It was at a huge rally and drew big cheers. It's chilling, given what we now know was happening at the time he said that. And it's amazing to realize that's not even eight months ago.And the very next day, <a href="https://www.cdc.gov/media/releases/2020/s0229-COVID-19-first-death.html">we did lose somebody</a>.You've gone through all this archival footage and you've contextualized the tick-tock of what the administration knew and when. How does it hit you now, emotionally, after everything that's happened since?We intentionally focused on the early days because that was when a different kind of plan really could have made a difference. What's chilling to me now about those remarks, particularly in light of the interview <a href="https://www.businessinsider.com/listen-trump-tells-woodward-february-covid-19-deadlier-than-flu-2020-9">Trump gave to Bob Woodward on February 7</a>, is that Trump knew very well that he was lying to us all. And worse than lying to us, he knew those very lies were permitting the virus to spread uncontrollably.How deeply cynical and cruel is to intentionally slow-walk testing, and also lie about the threat of a disease that you know is mortally dangerous, which will permit the disease to spread more rapidly and put more people in danger. That's really the dark part of this story.And not too long after that, on March 6, Trump explicitly says on camera that he doesn't want the stranded cruise passengers on the Diamond Princess to be tested because that will make the number of US positive tests go up. We all watched this happen in real time, but Trump's cynicism is astounding.We use another quote later on in the film where Trump said, "Slow testing down, please." He's literally saying he doesn't want to test because he knows the more you test, the more the numbers rise, which looks bad for him. That's like an oncologist seeing a polyp and saying: "You know what, we'll just let that pass and hope that maybe disappears. I'm going to go on a vacation now and I'll see you back in a couple of months." How irresponsible that is, it's really jaw-dropping in its cynicism.One thing I think we're going to look back on is how quickly the pandemic begins right after the impeachment trial ends. And in this period of chaos and unaccountability in government, Trump fires a bunch of inspectors general.He had been doing that for some time. I mean, that's his M.O. It really is all about him. And that's why the tension in making this film was we needed to hold him to account, because he is the commander-in-chief. He's the president of the United States. But we were very cautious about not making the film too Trump-centric because there is, after all, a government to consider. And also the people whose job it was to push back against the president, in this case did not. And then juxtaposed to what Trump was doing, were these poignant stories of the public officials, public-health officials, who were trying desperately to make a difference and to keep people safe. And they're being consistently undermined by Trump himself.So it was a real challenge, because that's the great and terrible skill that Trump has. He keeps us all so distracted by his outrageousness, which is intended to draw attention to him, so that we don't pay attention to things like the sacking of the inspectors general, to the way testing was slow-walked, all the policy issues and all the mechanisms of government that one after another he's filling with sand and glue.<div type="image" title="Jared Kushner" height="1455" width="2000" msid="78662074" hostid="261"></div><h2>'This administration works outside of the government'</h2>One argument I've been hearing a lot from Trump-sympathetic people is that "Of course, there's political appointees running the Centers for Disease Control and the Food and Drug Administration, that's how it goes." But it seems like this particular CDC leadership is much more beholden politically to the president than would seem normal.Let's not be too cynical. When you're a political appointee and you are appointed to be head of the CDC, for example, in a way you're serving two masters. You're serving the president because you've been appointed by the president, but you're also serving the institution and the ethics and goals of that institution. It's your job to serve both, which is how good governance works. In the Trump administration, there was only one job, which was to serve Trump and to say what he wanted to hear, to do what he wanted to do, and let the institution be damned.What you see with Trump is the corrupting of institutions that it turns out are very valuable. People can talk all they want about the "deep state." Another way of talking about the deep state is to say that institutions have values. And the CDC was known as the gold standard in terms of epidemiology and understanding disease and the production of vaccines. All of that was hugely influential throughout the world, and that has been completely undone by Donald Trump. He's corrupted it.Max Kennedy, one of Jared Kushner's volunteers — <a href="https://www.businessinsider.com/trumps-devotion-cronyism-getting-people-killed-coronavirus-pandemic-covid-2020-5">the 20-somethings he put in charge of securing the nation's PPE supply</a> — says in the film, "This administration works outside of the government." That feels in line with what you're saying. That particular Trump political appointees have hollowed out the government--They have.And that's how you end up with images of volunteers using Gmail accounts and private laptops in a dark room, begging companies for PPE.It's feckless. These were kids — in their early 20s. They so desperately wanted to help that they're volunteering their time to work 80 hours a week in the middle of a pandemic to try to help get valuable PPE — N95 masks, gowns, and gloves — to doctors and nurses.They go in and discover that, actually, they are the plan and that there's no guidance for them except, "Do a Google search on who might have PPE in China." Worse, they're not even permitted to buy materials themselves or to affect the way the government might buy those materials. They're there just to cut deals, so that then a certain small group of selected companies can go in, get that stuff, and then profiteer off it.Not only were [the companies] subsidized by the government, but they were permitted to sell these materials to whoever they wanted, sometimes even foreign countries, and make whatever profit they thought was meaningful to them. That meant the states, as we show in the film, were going on eBay desperately trying to keep up with the soaring prices of stuff that was desperately needed for nurses and doctors. The cynicism of that, the idea of bringing a business approach to government, is really shocking.Can you tell me a little more about who these volunteers were and how they were recruited?There was just a word sent out by some of Kushner's people, "Wouldn't it be great to have some volunteers," and there was an operation out of FEMA where Kushner said he was going to run his PPE task force. So it was a "through the grapevine" kind of thing.Max Kennedy Jr. told us his former employer approached him and said, "I hear that they're looking for volunteers to work really long hours to try to help Jared Kushner's new team find PPE." It was very ad hoc. There was no routine to it. There was no experience needed. Just show up.But the most shocking thing for the volunteers was that they expected they were going to be doing data entry, running for coffee, being support troops for a robust organization that was already running on six cylinders. But to their chagrin and horror, they discovered that they were, in fact, the task force.Did Max Kennedy violate his nondisclosure agreement by speaking with you?He did. But he did so with good legal advice. The NDA was probably not valid, and they weren't being given any classified information. The NDA was purely an afterthought to try to contain the damage that would come from exposing the truth of what was actually happening.I was certainly shocked and surprised with Max Kennedy's testimony, but what was also surprising to me was stumbling on the "<a href="https://www.nytimes.com/2020/03/19/us/politics/trump-coronavirus-outbreak.html">Crimson Contagion</a>" story.In October 2019, the Trump administration published its own report on how to handle a pandemic that arrived in this country from China. It had all the lessons learned about what they did right and wrong in that exercise, and how that would enable them to do better in the future. They had a very detailed playbook on how to handle this properly. And then when the pandemic came, they left that laminated playbook on the shelf. They never opened it. That was a shocker.<h2>The damage wrought by the well-meaning lies of the 'experts'</h2>Early in the pandemic, when PPE was in desperately short supply, the CDC and the surgeon general both told the public, "Don't wear masks." They said they're not effective in preventing coronavirus. We now know they were lying, too, and it was a last-ditch effort to keep N95 masks available for first-responders and hospital workers and prevent bulk panic-buying.But with the levels of trust in institutions already so low in this country, was the lie worth it?I'm not sure it was. That all could have been done a different way. There had to have been a way to give a kind of truthful reckoning and account to the American people, even while safeguarding that supply. But this also goes back to the beginning.<a href="https://www.businessinsider.com/rick-bright-60-minutes-us-coronavirus-response-chaotic-2020-5">Rick Bright</a>, who was running BARDA (Biomedical Advanced Research and Development Authority), which is focused and dedicated to pandemic response inside the government, said in early January that we've got to get it together and gear up on PPE right now. This is even before the first COVID test, just as a way of precaution, and nobody listened. It's like saying "What's the point of finishing the roof because it's sunny today?"<div type="image" title="trump covid tweet economy" height="1418" width="2837" msid="78662081" hostid="261"></div>This film drops three weeks before the election, and it's covering events that are still very fresh. What do you want people to get out of this?Again, to emphasize, this film focuses on the early days. And the reason it focuses on the early days is because those were the days when all of this could have been prevented. I think it's very important that people understand that we don't have to be in the situation that we're in. And that's why we use the comparison with South Korea, because they never had to shut down their economy and country of 51 million people. They now have a total of less than 500 COVID deaths. Even if you multiply that by six, it's a tiny number compared to our titanic death toll.The film is about competence. It's not a political film — it's not designed to be one party attacking another. It was designed to look at an administration, and how did this administration that prides itself on its business approach to governance handle this? That's the bottom line here: Did they do a good job or a bad job?Unfortunately for this administration, the result looks more like a true-crime film than purely a film about competence, because the death toll was so high and the crimes of fraud and negligence are so extreme. I hope people will see that and render a judgment in early November on the complete incompetence of this administration in terms of dealing with public health, which affects all of us.I'm sure the film was totally wrapped up and sealed with a bow when Trump's positive COVID test became public two weeks ago. But what was your reaction to that <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword>? The film was finished, officially, the day before that announcement, and I was sleeping soundly as a result. But at 2 a.m. that Friday morning, I got a call from Tom Quinn, the head of [the film's distributor] <a href="https://watch.neonrated.com/">NEON</a>. He said Trump has tested positive for coronavirus. So I didn't sleep much more that morning. And the team huddled early in the day to reckon with what we were going to do. Were we going to open the film up? Were we going to delay its release?Ultimately we decided the best way would be to both end the film, and then throw it forward. So we put in a card at the end that said, "One day after finishing this film, Trump tested positive for coronavirus."Everything that happens after that is part of the news, but just stating that at the end of the film seemed a way of both throwing it back to the beginning and extending it out into the future.<ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/trump-doesnt-respect-science-american-people-covid-coronavirus-climate-change-2020-10">Trump doesn't respect science, or the American people</a></li><li><a href="https://www.businessinsider.com/andrew-cuomo-memory-hole-covid-nursing-home-coronavirus-new-york-2020-10">Andrew Cuomo is shamelessly trying to memory-hole his coronavirus nursing home fiasco</a></li><li><a href="https://www.businessinsider.com/trump-white-house-covid-hotspot-unsafe-workplace-workers-rights-safety-2020-10">The Trump administration made the White House a COVID hotspot and an unsafe workplace. There isn't much the workers can do about it.</a></li><li><a href="https://www.businessinsider.com/parenting-school-aged-kids-covid-helpless-failed-leaders-2020-10">Being a parent of school-aged kids during COVID is to be helpless in the face of failed 'leaders'</a></li></ul>

'Totally Under Control' filmmaker Alex Gibney on Trump's hapless coronavirus response, Jared Kushner's ridiculous PPE strategy, and the breakdown of America's institutions

Reuters<ul class="summary-list"><li>European stocks fell on Wednesday after eurozone ministers failed to reach an agreement on how best to weather the coronavirus storm.</li><li>Japan's Nikkei climbed after the government announced a nearly $1 trillion stimulus package.</li><li>Britain's FTSE 100 fell into the red after supermarket titan Tesco warned it could suffer $1 billion in costs related to the outbreak.</li><li><a href="https://www.insider.com/?hprecirc-bullet">Visit Insider's homepage for more stories</a>.</li></ul>European stocks fell on Wednesday after the continent's ministers failed to settle on a response to the economic impact caused by the novel coronavirus despite 16 hours of talks. "We came close to a deal but we are not there yet," <a href="https://twitter.com/mariofcenteno/status/1247777093573726210">said</a> the Eurogroup chairman, Mario Centeno, after the discussions. The pandemic threat continues to loom large: France became the fourth country to report a coronavirus death toll north of 10,000, and the number of deaths rose again in Spain.Analysts at Rabobank said in a note that inevitably there has been "an increase in finger pointing from politicians this week as they take a step back from their initial panic reactions." They added that the oil market is finding its feet ahead of a Saudi Arabia-Russia deal on output cuts at Thursday's virtual meeting of the Organization of the Petroleum Exporting Countries.US stock futures inched higher, a day after investors <a href="https://markets.businessinsider.com/news/stocks/stocks-surge-fewer-new-coronavirus-cases-signal-lockdowns-work-2020-4-1029070817">reacted positively</a> to signs that lockdowns are effective in slowing the spread of the virus.Japan's benchmark Nikkei index gained ground after authorities <a href="https://www.businessinsider.com/japan-plans-1-trillion-stimulus-combat-coronavirus-downturn-2020-4?r=US&amp;IR=T">confirmed</a> plans to support $240 billion in interest-free loans as part of a nearly $1 trillion economic stimulus. Britain's FTSE 100 slipped into the red after supermarket titan Tesco <a href="https://www.tescoplc.com/news/2020/preliminary-results-announcement-2020/">announced</a> that it expected to stomach $1.1 billion in coronavirus costs. The news sent its shares down 7% in morning trading.Here's the market roundup as of 11:22 a.m. in London (6:22 a.m. ET):<ul><li>European equities fell, with Germany's DAX down 1%, Britain's FTSE 100 down 1.5%, and the Euro Stoxx 50 down 1.5%.</li><li>Asian indexes were mixed with China's Shanghai Composite down 0.2%, Hong Kong's Hang Seng down 1.2%, and Japan's Nikkei up 2.1%.</li><li>US stocks are set to open slightly higher. Futures underlying the Dow Jones Industrial Average, the S&amp;P 500, and the Nasdaq rose as much as 0.2%.</li><li>Oil prices climbed, with West Texas Intermediate up 3.6% at $24.50, and Brent crude up 0.7% at $32.10.</li><li>The benchmark 10-year Treasury yield rose to about 0.73%.</li><li>Gold rose 0.2% to $1,686.</li><li>Bitcoin fell about 1.5% to roughly $7,320.</li></ul><a href="https://www.businessinsider.com/intelligence/10-up-and-coming-fintechs-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=10-up-and-coming-fintechs-2019-2"></a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/federal-reserve-zero-percent-rate-dow-dropped-2020-3">Why the Dow plummeted after the Federal Reserve set interest rates at 0%</a></h3>

"Finger pointing from politicians": Stocks slide after eurozone leaders fail to agree on coronavirus response

<ul class="summary-list"><li>Nutanix CEO Dheeraj Pandey is leading the 11-year-old tech company through another crisis, after the coronavirus caused its new growth strategy to stall.</li><li>Pandey and two other cofounders launched Nutanix a decade ago in the middle of the Great Recession, creating a rising star of enterprise technology.</li><li>Pandey says that his number-one goal is to do the hard work of building a durable company that can weather any storm. He also dismissed persistent rumors that an acquisition is on the table. "What we do is keep building for the long haul," he says.</li><li>He sat down with Business Insider to recall his personal journey as a young man from a lower middle class family in India awed by the "stoic endurance" of his parents to CEO of an emerging powerhouse.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></li></ul>Nutanix CEO Dheeraj Pandey and his cofounders used a software program to suggest a name for their startup before they launched in 2009.They were naturally hoping for a brand that's catchy, searchable and available, but they weren't too thrilled with the top choice: Nutanic."Wow, that's very close to Titanic," was his reaction, Pandey told Business Insider, laughing. But they fixed that problem with a minor tweak, replacing the 'c' with an 'x,' and they even added a play button to the letter on the Nutanix logo, which Pandey says speaks to what the company is about. "It's like playing music," he said. "You can stream infrastructure from anywhere. The play button is extremely emblematic of easy and simple."The irony is that easy and simple is not exactly how one would describe Pandey's own journey as a technology leader. While it makes sense that he wouldn't want a startup name that evokes the memory of a disaster, Nutanix was actually born in the middle of an economic cataclysm, the Great Recession. As Nutanix reels once again from another time of severe crisis, marked by a global pandemic that threatens to plunge the world into another recession, Pandey is drawing from key lessons from his odyssey - from a young man from a lower middle class family in India awed by the "stoic endurance" of his parents to a tech entrepreneur who launched a company at the height of a downturn, that is battling it out with bigger rivals in a fast-changing, highly competitive market."I look at this as just part of the journey," Pandey said of the company's coronavirus-related turbulence. "When you do these big things in the public eye, it's like changing the wings of a plane at 35,000 feet.""You can't be swayed by public markets. You need patience and stability of emotion. What it means is stoic endurance," he also said.<h2>'Stoic endurance'</h2>In fact, "stoic endurance" and "adversity" are two of Pandey's favorite phrases, and used them repeatedly in a recent interview."I very much believe in the opportunity lying behind adversity is very important for any company, any entity, any initiative," he said.He was explaining Nutanix's most recent encounter with adversity: coronavirus. Like most tech companies, Nutanix saw its shares tumble in the wake of the health crisis. But it's been particularly painful for the cloud software company, which reported quarterly financials late last month. Nutanix, whose software makes it easier for businesses to manage their networks in the cloud and in private data centers, beat Wall Street's expectations, but the Silicon Valley company posted a downbeat outlook which Pandey himself attributed to the global health crisis."We're in an environment that is murky due to the impact of the coronavirus," Pandey told analysts on the earnings call. The good news is that Nutanix still has fans on Wall Street. William Blair analyst Jason Ader said the company was "like a box of chocolates." The outlook reduction due to the coronavirus crisis was disappointing, but the company was making "continued progress on multiple fronts," he told clients in a note.The coronavirus crisis hit at a time when Nutanix is in the middle of a major pivot to a subscription-based business model, a transformation closely watched by Wall Street but which has now stalled.<h2>'I look at this as just part of the journey'</h2>The stoic approach is an attitude rooted in his Pandey's own life story.He grew up in northeastern India in a family that wrestled constantly with financial problems. His father was a government employee in one of India's poorest state. "My father used to get paid once every six to nine months, if at all," he said. "So, stoic endurance."His mother was a teacher who had to walk miles to go to school because she couldn't afford public transportation. The family relied on relatives who were also struggling. Things got so bad, her mother was forced to sell her jewellery from her wedding day so he and his siblings could go to school. "My mom had to go through a lot," Pandey said.His parents' sacrifices defined his youth and shaped his journey as an adult: "It's the imagery of my childhood, the stoic endurance of those first 17 years before I stepped out of college."Pandey went to the respected India Institute of Technology and subsequently got a post-graduate fellowship at the University of Texas at Austin. "I didn't have the money to fly to the US," he said. But he secured a $3,000 grant from local foundations for his move. "I bought a ticket for $1,000, then left a thousand dollars to my parents and had $900 in my pocket with two suitcases," he said. Pandey was then 22 and it was his first time to fly. "One of my cousins told me how to tie a seatbelt," he said.He arrived in Texas in 1997 at the height of the dot-com boom. He thrived at the University of Texas, he said. But he also had to worry about "economic pressures back home," including the need to buy a home for his parents.He went on leave to work in what was then a booming tech industry. Pandey ended up dropping out of UT, as he launched a career in tech. He lived through the dot-com bust, and worked for several tech companies, including Oracle.<h2>A startup born during the Great Recession</h2>In 2009, during another downturn, he and three other technologists - Ajeet Singh, now cofounder of ThoughtSpot, a data visualization startup, and Mohit Aron, now CEO and founder of data management firm Cohesity - launched Nutanix.It was the height of the Great Recession when a severe slump in the tech industry. It was not an ideal time to start a tech company. But Pandey and the Nutanix cofounders decided to go for it."The conditions were worse but if we thought that if we just put our head down and build something from scratch the purse strings would open up because of the pent up demand for new things in innovation and creativity and disruption at large," he said.The gamble paid off. The market did come back. Nutanix became a trailblazer in a new technology called hyperconverged infrastructure which enables businesses to maximize and manage more efficiently key elements of a data center, from compute, storage and networking. This dramatically cuts the cost of data center costs.The technology emerged at a time when cloud computing was taking off in enterprise tech. The cloud lets businesses set up networks on web-based platforms run by the likes of Amazon, Microsoft and Google, allowing them to scale down or even abandon private data centers.Nutanix quickly became a rising star of enterprise tech. The company had a blockbuster IPO in 2016 when its stock more than doubled. It now has more than 6,000 employees and more than 15,000 customers.But being the new kid on the block was also rough for Nutanix and for Pandey. <h2>Feud with VMware</h2>Nutanix found itself competing with VMware, the software giant founded in 1998, whose virtualization platform let businesses tap disparate computer systems in private data centers or the cloud as one network and use that computing capacity based on needs.The competition turned nasty at times. Last year, Pandey wrote a blog post accusing VMware - in particular, Chief Operating Officer Sanjay Poonen in particular - of using bullying tactics in a market where incumbents and the bigger tech companies often partner with, but at times also use their size to gain an advantage over smaller and newer players. The article was titled <a href="https://www.nutanix.com/blog/stop-bully-vmware">"Stop Being a Bully, VMware!"</a>Pandey said the rivalry with VMware eventually compelled Nutanix to expand its arsenal, saying, "When we were pushed to the corner, we said how do we take control of our destiny? So we built our own operating system so that we could then not be at the mercy of VMware."But Pandey also said: "We were also humbled by market forces. We knew that we just couldn't shove this thing down their (customers') throat. So in many places we are actually happy to work on top of VMware."VMware declined to comment on the dispute. But the rivalry has become less toxic and even appeared to morph into a friendly competition. In October, <a href="https://twitter.com/spoonen/status/1186997154088394752">Poonen retweeted a photo</a> of him and Pandey with Poonen flashing a thumbs up sign. His comment read: "We may compete, but I have a ton of respect for what [Pandey] has built!"<h2>The future of Nutanix</h2>Pandey has been at the helm of Nutanix for more than a decade. There have been rumors that Nutanix may be acquired, including by another giant like Google. Pandey dismissed the speculation."What we do is just keep building for the long haul," he said. "I think when you do it from that point of view where you're not thinking of exits, best things happen to you...Every religion, every culture has this thing that you don't worry about the result today. You just keep doing the right things. And if you have the right karma, great things happen. So karma was right now is subscription foundation. Karma right now is taking great care of our customers along the way. And Karma to us is about making sure that our investors known why this transition is important."Pandey said his hope is that they are building a strong company that will last "not just a brand that eventually was acquired by someone else." He has been reflecting on issues on succession and what comes next for the company he launched in the middle of a downturn."I go back to this notion of a company that's bigger than me, which is very important and a very humbling thing to think about," he said. "It's important to think about leaving a legacy that others could also manage and grow. I think it's top of mind for every good founder. Did you have a company that is not tied to you?"The strongest tech companies have CEOs who are "able to look around the corners," he said. That's a tough challenge given that "tech changes so fast." But his hope is that encounters with adversity, including the ongoing one with the coronavirus, hopefully is making his company stronger and more resilient. <h2>Hope for his children</h2>And that's also his hope for his own family, particularly his son and twin daughters. They lead much better lives than the one Pandey had in India, to be sure. And his children would surely never have to witness their parents' "stoic endurance" to provide for them -- as he did. In an odd way, that bugs Pandey."I want to make sure that they actually experience adversity, because that's the way real careers and real characters are molded," he said.He said that's one reason he doesn't sell a lot of his Nutanix stock and is reluctant to flaunt his wealth, thinking his children would be less likely to understand the importance of facing adversity and challenges "if they see money.""If you end up having a lot in life, there's so much to lose," he said. "If you embrace adversity, you will actually do bigger, better things."It's a worldview that sprang from his youth in India, his vivid memories of his parents and what they endured."When I look back at all that the imagery of them enduring I'm like, you know, how do I make my children endure?" he said. "Because it matters. I struggle with that."Got a tip about Nutanix or another tech company? Contact this reporter via email at bpimentel@businessinsider.com, message him on Twitter <a href="https://twitter.com/benpimentel">@benpimentel</a> or send him a secure message through Signal at (510) 731-8429. You can also <a href="https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6">contact Business Insider securely via SecureDrop</a>.

$3.4 billion cloud company Nutanix was founded in the midst of the Great Recession. Here's how its CEO plans to steer it through another crisis as coronavirus takes its toll on its business.

Reuters / Richard DrewHere's what you need to know before the markets open.1. <a href="https://markets.businessinsider.com/news/stocks/stocks-plunge-oil-price-17-year-low-coronavirus-fears-rock-markets-2020-3-1029007568">'We're heading for recession': US futures plunge and oil plummets to 17-year low as coronavirus fears outweigh stimulus hopes</a>. "It is not a question of if, but a matter of how bad and how long the coronavirus-induced recession will be."2. <a href="https://markets.businessinsider.com/news/stocks/dr-doom-nouriel-roubini-give-americans-1000-dollars-great-depression-2020-3-1029008090">'Everybody needs $1,000 or we'll end up in the Great Depression': 'Dr. Doom' economist calls for huge fiscal stimulus to stop a historic recession</a>. "What we can hope is if there's going to be the right stimulus - and it has to be at least 3% of GDP - this is going to be a very severe, but short recession."3. <a href="https://markets.businessinsider.com/news/stocks/coronavirus-bernanke-and-yellen-argue-for-fed-action-on-covid-19-2020-3-1029007940">Janet Yellen and Ben Bernanke call on the Fed to avoid long-term economic damage from coronavirus pandemic. 'The economy may take a very long time to recover.'</a> The pair indicated that the Fed's immediate reaction to coronavirus, a $700 billion package to buy US Treasuries and mortgage-backed securities (MBS) and a 50-basis-point reduction to its short-term policy rate, might not be sufficient. 4. <a href="https://www.businessinsider.com/samsung-expects-chip-demand-growth-despite-coronavirus-turmoil-2020-3?r=US&amp;IR=T">Samsung expects chip demand growth despite coronavirus turmoil</a>. The South Korean technology titan expects higher demand for a limited supply of computer chips.5. <a href="https://www.businessinsider.com/coronavirus-empties-airlines-cash-drawers-knocks-157-billion-off-share-values-2020-3?r=US&amp;IR=T">Coronavirus empties airlines' cash drawers, knocks $157 billion off share values</a>. Global airlines are quickly running out of cash after cutting capacity by 90% or even grounding entire fleets due to coronavirus-related travel restrictions.6. <a href="https://www.businessinsider.com/goldman-tells-staff-in-americas-emea-to-work-from-home-after-two-coronavirus-cases-found-2020-3?r=US&amp;IR=T">Goldman Sachs tells staff in Americas, EMEA to work from home after two coronavirus cases found</a>. The banking giant made the call after two employees at one of its offices in Salt Lake City, Utah, tested positive for COVID-19.7. <a href="https://www.businessinsider.com/chairman-of-santanders-portuguese-unit-dies-from-coronavirus-2020-3?r=US&amp;IR=T">Chairman of Santander's Portuguese unit dies from coronavirus</a>. Antonio Vieira Monteiro, a top executive at Spain's largest bank, is Portugal's second casualty from the disease, Reuters reported.8. <a href="https://markets.businessinsider.com/news/stocks/stocks-plunge-oil-price-17-year-low-coronavirus-fears-rock-markets-2020-3-1029007568">Stocks are tumbling</a>. In Europe, Germany's DAX fell 5.7%, Britain's FTSE 100 fell 5.3%, and the Euro Stoxx 50 fell 6.1%. In Asia, China's Shanghai Composite fell 1.8%, Hong Kong's Hang Seng fell 4.2%, and Japan's Nikkei fell 1.7%. US stocks are set to open lower. Futures underlying the Dow Jones Industrial Average, the S&amp;P 500, and the Nasdaq fell between 3.7% and 4.5%.9. <a href="https://markets.businessinsider.com/earnings-calendar?p=1#date=03/18/2020&amp;name=&amp;countries=&amp;eventtypes=103,99&amp;tab=ALL">There are some big earnings out</a>. General Mills, Inditex, and Tencent are highlights.10. <a href="https://markets.businessinsider.com/economic-calendar?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest#date=03/18/2020&amp;name=&amp;countries=us&amp;eventtypes=&amp;tab=1,2,3">It's a big day for data</a>. Investors will be looking for updates from the Federal Reserve. <h3>NOW WATCH: <a href="https://www.businessinsider.com/economist-weighted-voting-could-help-save-us-democracy-2018-5">A top economist has a radical plan to change the way Americans vote: weighted voting</a></h3>

10 things you need to know before the opening bell

New Delhi, Apr 5 () "It's not a party," "It's not Diwali," netizens vented their ire on social media, as people switched off lights at their homes at 9 pm on Sunday and instead of lighting candles, burst firecrackers in response to Prime Minister Narendra Modi's call for a nine-minute candlelight vigil.Modi had called for a nine-minute candlelight vigil on Sunday as a means to dispel the darkness spread by the coronavirus pandemic. He had asked people to switch off the lights at their homes and light a candle or a diya at their doorsteps or in their balconies at 9 pm on Sunday.While many put up video clips and pictures of themselves lighting candles, most social media posts came down heavily against those bursting crackers.Netizens put up video clips and pictures of people bursting crackers and shouting slogans as 9 pm approached."Corona ke Bharat aagman par deshwaasi khushi manate hue. Well done (people welcoming the entry of corona to India)," tweeted Arun Arora, taking a dig at those bursting crackers.Twitter user Sparsh Oberoi, however, attributed the celebrations to boredom."I find that we are getting crazier by every activity. Is this due to being bored of the lockdown or just no idea of what's going on around us. The PM never asked to burst crackers. We are not celebrating anything ppl," he tweeted.Disability rights activist Nipun Malhotra urged people not to burst crackers and reminded them that this was not a joyous moment. "Light a diya. Be united. But crackers? Really? This ain't a party!" he tweeted.Standup comic Vir Das indicated that he had preempted this reaction to the PM's call two days in advance."Repeat: Sunday is an INDOORS show of solidarity. It is NOT diwali," he said, re-tweeting an April 3 tweet of his with a solitary "sigh".Many wondered how people procured firecrackers during a nationwide shutdown."Who declared crackers as essential service?" wrote Anivar Aravind.Tweeting from the handle @_NairFYI, one user saw the bursting of crackers during a pandemic as an ominous sign and said, "Before the Titanic went down they did fire rockets to alert nearby ships."Some Twitter users also said slogans were raised as 9 pm approached."This is so incredible &amp; mesmerising, to my surprise ppl even shouted slogans "Bharat Mata Ki Jay" &amp; "Vande Mataram"... #9pm9minute," tweeted Amol Siddham.However, there were some who found humour even in the mass voluntary blackout."Itna andhera ho gaya hai poore India main, Corona ne rasta bhatak kar wapas China chale jana hai (there is so much darkness in India that corona has lost its way and gone back to China)," tweeted a user from the handle @swatic12.Another user, Rangjogi, said, "Well, right after the first 2 quaint minutes, there were rockets in the sky. Mithai anyone??" tweeting with the hashtag #DiwaliAgainstCorona.According to the Health Ministry, the number of coronavirus cases climbed to 3,374 in the country on Sunday, while the death toll rose to 77.Of these, the number of active COVID-19 cases stood at 3,030, while 266 people were cured and one had migrated, it said. ASG GJS RC

Social media comes down on those who burst crackers in response to PM's candlelight vigil call

<ul><li>US <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> climbed on Wednesday, ending a three-day sell-off that saw the <keyword id="6357328" type="UNKNOWN" weightage="60" keywordseo="nasdaq">Nasdaq</keyword> composite decline more than 10%.</li><li>Technology stocks led the market higher, just as they led the it lower during the tumultuous three-day period.</li><li>Wednesday's big gainers included Tesla, Apple, Microsoft, and Amazon, which all climbed roughly 4%.</li><li><a href="https://markets.businessinsider.com/indices?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Watch major indexes update live here</a>.</li></ul>US stocks staged a strong rally on Wednesday after a three-day sell-off driven by tech shares led to a more than 10% decline in the Nasdaq composite index.Leading the <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> higher on Wednesday were the same stocks that led the it lower over the past week. Shares of <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple,</a> <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a>, <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a> climbed roughly 4%, while <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> closed 11% higher. Apple's three-day decline ultimately amounted to a 14% skid that pushed its market capitalization below $2 trillion for the first time since August 20, according to data from YCharts.com. By mid-afternoon traded on Wednesday, the tech titan had reclaimed the $2 trillion market cap threshold.Here's where US indexes stood at at the 4 p.m. ET market close on Wednesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500_500" target="_blank" rel="noopener">S&amp;P 500</a>: 3,398.96, up 2%</li><li><a href="https://markets.businessinsider.com/index/dow_jones" target="_blank" rel="noopener">Dow Jones industrial average</a>: 27,940.47, up 1.6% (440 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite" target="_blank" rel="noopener">Nasdaq composite</a>: 11,141.56, up 2.7%</li></ul>Read more: <a href="https://www.businessinsider.com/investing-strategy-us-championship-oliver-kell-shares-secret-to-returns-2020-9" target="_blank" rel="noopener">US Investing Championship contender Oliver Kell raked in a 359.4% return through July. Here's the strategy he's using to crush the competition — and 3 stocks he's holding right now.</a>On the COVID-19 vaccine front, <a href="https://markets.businessinsider.com/news/stocks/astrazeneca-coronavirus-vaccine-trial-pause-causes-shares-to-drop-2020-9-1029572801#">AstraZeneca suffered a setback</a> when <a href="https://www.statnews.com/2020/09/08/astrazeneca-covid-19-vaccine-study-put-on-hold-due-to-suspected-adverse-reaction-in-participant-in-the-u-k/">it paused its trial</a> because of a suspected adverse reaction in a participant. Shares fell as much as 3% on Wednesday. It served as a reminder to investors that developing a vaccine for the novel coronavirus will take time and cannot be rushed.Many companies developing other experimental COVID-19 vaccines rallied after AstraZeneca paused its trial. <a href="https://markets.businessinsider.com/stocks/mrna-stock">Moderna</a> led all gainers, while shares of <a href="https://markets.businessinsider.com/stocks/pfe-stock">Pfizer</a>, <a href="https://markets.businessinsider.com/stocks/sny-stock">Sanofi</a>, and <a href="https://markets.businessinsider.com/stocks/gsk-stock">GlaxoSmithKline</a> also climbed.In the mergers-and-acquisitions space, <a href="https://markets.businessinsider.com/news/stocks/tiffany-stock-price-louis-vuitton-lvmh-scraps-takeover-deal-lawsuit-2020-9-1029573748#">Tiffany plunged</a> after LVMH called off its proposed $16 billion acquisition of the jewelry retailer, citing potential trade-war tariffs on US goods as the main reason.Read more: <a href="https://www.businessinsider.com/how-to-invest-quality-value-stocks-avoid-risky-names-bernstein-2020-9" target="_blank" rel="noopener">Bernstein breaks down why value investing is not dead — and shares its 3-part strategy for buying cheap stocks before they break out higher</a>In an <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-stanley-druckenmiller-absolute-raging-mania-fed-hangover-2020-9-1029574974#">interview with CNBC on Wednesday,</a> billionaire investor Stanley Druckenmiller said the <keyword id="6357440" type="DEFINITION" weightage="60" keywordseo="Stock-Market">stock market</keyword> is in a fed-fueled "raging mania" that could lead to a five-year hangover.US job openings increased by 617,000, to 6.6 million, through the month, according to <a href="https://www.bls.gov/news.release/pdf/jolts.pdf">Job Openings and Labor Turnover Survey</a> The data signaled a continued labor-market recovery after the COVID-19 pandemic resulted in economic shutdowns across the country.An <a href="https://markets.businessinsider.com/news/stocks/warre-buffett-berkshire-hathaway-570-million-snowflake-ipo-rare-unicorn-2020-9-1029574925">investment raising eyebrows on Wall Street</a> is one to be made by Warren Buffett's Berkshire Hathaway. The conglomerate plans to participate in the upcoming IPO of cloud company Snowflake. Berkshire is set to buy 2.5% of the company for $570 million.Read more: <a href="https://www.businessinsider.com/stock-market-investing-outlook-day-trading-risks-threats-peter-tchir-2020-9" target="_blank" rel="noopener">'More fragile than people think': A Wall Street expert says the emerging 'species' of risk-loving day traders is threatening to upend an already vulnerable stock market</a><a href="https://markets.businessinsider.com/commodities/gold-price">Spot gold</a> climbed 0.8%, to $1,947.99 per ounce. The precious metal held above the $1,900-per-ounce threshold after failing to retake $2,000 at the start of the month.<a href="https://markets.businessinsider.com/commodities/news/oil-price-producers-cut-market-demand-weakness-crude-wti-brent-2020-9-1029571106">Oil</a> recovered some of Tuesday's losses spurred by industry giants that <a href="https://www.bloomberg.com/news/articles/2020-09-07/oil-extends-drop-after-saudi-price-cuts-highlight-demand-concern?srnd=markets-vp">continued to slash prices</a> because of demand weakness. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">West Texas Intermediate crude</a> rose as much as 4.6%, to $38.45 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Brent crude</a>, oil's international benchmark, rose 3.6%, to $41.20 per barrel, at intraday highs.Read more: <a href="https://www.businessinsider.com/stock-market-nasdaq-sell-off-explained-investing-advice-portfolio-positioning-2020-9" target="_blank" rel="noopener">4 experts break down the drivers behind the sudden plunge in tech stocks that's dragging the entire market lower — and share their best recommendations for what investors should do as the election approaches</a>

You Searched For "Titan reaction to coronavirus" and got 8 results

Without weddings and fewer Indians in a celebratory mood, Titan’s sales to remain muted for the next 2 years

Navdeep Yadav

Trump has officially declared war on Twitter and Facebook. Here's the latest on the executive order targeting social media and the reaction at internet companies.

Business Insider

'Totally Under Control' filmmaker Alex Gibney on Trump's hapless coronavirus response, Jared Kushner's ridiculous PPE strategy, and the breakdown of America's institutions

Anthony L. Fisher

"Finger pointing from politicians": Stocks slide after eurozone leaders fail to agree on coronavirus response

Shalini Nagarajan

$3.4 billion cloud company Nutanix was founded in the midst of the Great Recession. Here's how its CEO plans to steer it through another crisis as coronavirus takes its toll on its business.

Benjamin Pimentel

10 things you need to know before the opening bell

Theron Mohamed

Social media comes down on those who burst crackers in response to PM's candlelight vigil call

PTI

Dow soars 440 points as sharp tech turnaround leads market-wide rebound

Matthew Fox

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