Apple Inc will this week reopen more than 25 of its branded stores in the United States, a company spokesman said on Sunday, continuing a gradual process that has unlocked doors at nearly a fifth of its worldwide retail outlets.
Federal Reserve Chairman Jerome Powell told CBS’s 60 Minutes that a recovery is possible in the second half of the year. …read more […]
The most important data for the U.S. economy right now are the “medical metrics” around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks where he outlined the likely need for three to six more months of government financial help for firms and families.
(Bloomberg) — U.S. stock futures advanced as investors weighed further reopening of economies around the world against fresh warnings that the road to recovery will be long. Asian stock futures pointed to a mixed start, while the yen nudged lower. S&P 500 futures climbed 0.8%, following last week’s retreat for global shares. Equity futures edged down in Hong Kong, while those in Japan and Australia rose. Crude oil climbed. The pound dipped after a Bank of England official said the central bank is examining a range of unconventional policy tools, including negative interest rates.On the virus front, New York’s western …read more […]
May.17 — The Trump administration moved to prevent chipmakers using U.S. technology from supplying Huawei Technologies Co. Tom Mackenzie reports on “Bloomberg Daybreak: Australia.” …read more […]
General Motors Co is tentatively planning to restart operations at its auto assembly plant in the Mexican city of Silao on May 20, according to a message to workers seen by Reuters on Sunday, as the car industry prepares to exit the coronavirus lockdown.
The United States needs to quickly revise its coronavirus aid program for small businesses to extend the eight-week period in which the law currently requires companies to spend the money, a key U.S. senator said on Sunday.
Stocks ended a volatile week on a high note, despite more ugly data. …read more […]
General Motors Co signaled that it was tentatively planning to restart operations at its auto assembly plant in the Mexican city of Silao on May 20 after the coronavirus outbreak stalled production, according to a message to workers seen by Reuters.
(Bloomberg) — Royal Caribbean Cruises Ltd. was in a quandary.The company needed to raise money while its ships were docked amid the Covid-19 pandemic, and the bond market was open if Royal Caribbean was willing to mortgage ships as collateral. Similar deals had worked for rivals like Viking Cruises and Norwegian Cruise Line Holdings Ltd.Royal Caribbean had plenty of ships to offer. The problem? S&P Global Ratings had slashed its credit grade to junk, and the cruise company was expecting Moody’s Investors Service to follow. With those downgrades came steep restrictions on how much of its assets could be pledged …read more […]
(Bloomberg) — U.S. coronavirus cases rose 1.5% in the past 24 hours, the third straight daily decline. New York’s western region and the area around Albany are poised to reopen. The Trump administration stepped up attacks on China, accusing the nation — without evidence — of sending airline passengers to spread the virus. A Walt Disney mall in Florida will begin to open this week.The U.K. will be first in line to get an AstraZeneca vaccine. Tesla received permission to reopen its California factory after first defying local officials.Key Developments:Virus Tracker: Cases top 4.6 million; deaths exceed 314,000Pandemic shatters world …read more […]
German ailing conglomerate Thyssenkrupp is in talks with international peers about consolidating its loss-making steel business, a person familiar with the matter said.
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