The Chinese-backed owners of Imagination Technologies told the British government on Friday the chip designer would remain headquartered in the United Kingdom and they would consult over any board changes, a source with knowledge of the matter said.
Airbus will furlough some 3,000 French aerospace workers by tapping a government-backed scheme for four weeks starting from Monday, the planemaker said on Friday, in its latest effort to cope with the coronavirus crisis.
Many U.S. airlines are cancelling between 60% and 80% of their flights, and under federal law passengers on those flights are entitled to full refunds, Senators Ed Markey, Elizabeth Warren and Richard Blumenthal said in a statement. “However, many airlines have been obfuscating this right by offering travel vouchers as the default option, requiring passengers to take burdensome steps to request refunds instead,” they said. The Democratic senators had asked Alaska Air Group Inc, Allegiant Air, American Airlines, Delta Air Lines Inc , Frontier Airlines, Hawaiian Airlines, JetBlue Airways Corp , Southwest Airlines Co , Spirit Airlines Inc …read more […]
(Bloomberg) — Shopify Inc. shares are on track for a record high after an executive said the e-commerce company was experiencing traffic similar to peak holiday levels and predicted even more growth.“As we help thousands of businesses to move online, our platform is now handling Black Friday level traffic every day!” Chief Technology Officer Jean-Michel Lemieux said Thursday on Twitter, referring to the day after Thanksgiving that is one of the busiest shopping days of the year. “It won’t be long before traffic has doubled or more.”Shopify gained as much as 11% on Friday, after rising 5.9% on Thursday. During …read more […]
President Trump revealed his three part plan to reopen businesses and restore the economy. Yahoo Finance’s Jessica Smith shares the latest details. …read more […]
Investors fled to safety as worries about the coronavirus outbreak increased, leading to heightened volatility and requiring the Federal Reserve to respond rapidly to stem losses from a “synchronized global selloff” and to help markets function, a senior official at the New York Fed said Friday.
Procter & Gamble Co beat Wall Street expectations for quarterly profit on Friday as it reported its best U.S. sales growth in decades thanks to consumers stockpiling cleaning essentials in lockdowns against the coronavirus.
The Chinese-backed owners of Imagination Technologies told the British government on Friday the chip designer would remain headquartered in the United Kingdom, a source with knowledge of the matter said.
A gauge of future U.S. economic activity suffered a record decline in March, suggesting the economy could struggle to pull out of a deep slump caused by the novel coronavirus outbreak.
Wall Street bounced on Friday as Boeing said it would resume production of commercial jets next week, with investors also cheering President Donald Trump’s plan to reopen the economy and on hopes of a potential drug to treat COVID-19.
Ford’s vehicle sales to dealers fell 21% in the first quarter, compared with the same period in 2019. In March, the company shuttered plants in North America and Europe due to the COVID-19 outbreak. Only Ford’s joint ventures in China, where the pandemic has been receding, are currently producing vehicles and dealers have resumed work. …read more […]
Bears looking for a retest of the market lows may soon have egg on their face. …read more […]
Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say.
Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say. Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed a record cut in output from May of 9.7 million barrels per day, or almost 10% of global supply, to help support prices and curb oversupply. At the same time traders have rushed to find storage on land and at sea …read more […]
Nasdaq Inc has applied with the U.S. Securities and Exchange Commission to offer temporary relief to companies listed on its exchange with stock prices and market values that have fallen below required minimums due to disruptions during the coronavirus crisis.
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