The Federal Reserve’s program to back emergency government loans to small businesses is “fully operational,” the U.S. central bank said on Thursday, a boost to banks as they await a possible expansion to the total amount of funds they will be allowed to disburse to help companies through the coronavirus crisis.
Abbott Laboratories beat quarterly profit estimates on Thursday as stay-at-home orders prompted customers to stockpile its nutrition products but the company suspended its full-year forecast due to the coronavirus-led uncertainty.
Luxury carmaker Ferrari is producing specialist valves at its Maranello factory to convert snorkel masks into respirators used to treat coronavirus patients, Chairman John Elkann said on Thursday.
Wall Street was set to open higher on Thursday as weekly jobless claims fell slightly from the previous week and on hopes President Donald Trump would push to ease strict stay-at-home restrictions.
BlackRock Inc’s assets under management dipped sharply in the first quarter amid turmoil in global markets caused by concerns about the economic fallout of the coronavirus outbreak.
Google will allow business and education users on Gmail.com to directly take calls on its video conferencing tool Meet starting Thursday, a new feature being offered as the Alphabet Inc unit seeks to capitalize on security and other concerns with rival services. The integration of Meet with e-mail is the first of several features being launched ahead of schedule because of a surge in demand for video conferencing, Google vice president Javier Soltero told Reuters. Meet, which is available only to schools, businesses and governments and is distinct from the consumer-focused Hangouts tool, has added daily users …read more […]
Morgan Stanley posted a 32% fall in quarterly profit on Thursday as the coronavirus pandemic stalled dealmaking and warned that the crisis would continue to weigh on its operations in the coming months.
Europe led world stock markets back to higher ground on Thursday as tentative moves to reopen parts of the some of its larger coronavirus-hit economies and a bounce in oil offset some truly dismal global economic data.
Oil prices rose on Thursday after sharp losses in the previous session, with investors hoping that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.
U.S. stocks index futures jumped on Thursday after weekly U.S. jobless claims fell to 5.2 million last week from an upwardly revised 6.62 million the week before.
Airbus said on Thursday it had received multiple requests from customers to defer deliveries after travel demand collapsed due to the coronavirus epidemic.
Abbott has launched three coronavirus tests in the United States, including an on-site diagnostic kit that can deliver results within minutes and heralded as a game changer by President Donald Trump. Sales at the company’s nutrition products division rose 6.3% to $1.90 billion, benefiting from increased demand for children’s products in late March as U.S. states began to impose shelter-in-place restrictions to curb the spread of the virus. …read more […]
Once upon a time, Chesapeake Energy (CHK) was a rising star of the energy world, snapping up assets and blazing a trail towards a fracking future, in which it would supply oil markets around the world.Sea changes in the prices of oil and natural gas, however, combined with a too-aggressive acquisition spree and the debt loads that came with it have all but destroyed Chesapeake Energy’s equity value. Over the past five years, the stock has tumbled from a split-adjusted high of more than $3,300 a share, to just $16.38 per share as of Wednesday’s close — vaporizing 99.5% of …read more […]
U.S. stock index futures edged higher on Thursday, as hopes President Donald Trump would ease strict stay-at-home restrictions lifted the mood even as investors braced for another staggering jobless claims figure.
Abbott Laboratories beat quarterly profit estimates on Thursday as stay-at-home orders prompted customers to stockpile its nutrition products but the company suspended its full-year forecast due to the coronavirus-fueled uncertainty.
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