Year: 2020

Lufthansa on Thursday said it is negotiating a 9 billion euro ($9.71 billion) “stabilisation package” with Germany’s Federal Economic Stabilization Fund, confirming an earlier Reuters report.

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Twilio Inc shares surged 32% to a record high after the cloud communication provider’s quarterly results and forecast smashed Wall Street estimates on increased demand from telehealth and education companies amid widespread lockdowns.

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Wall Street gave a resounding vote of confidence to ride-hailing stocks ahead of Uber’s results on Thursday, after Lyft indicated a slow recovery in demand and lower costs as rising unemployment creates greater supply of drivers.

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Millions more Americans sought unemployment benefits last week, suggesting layoffs broadened from consumer-facing industries to other segments of the economy and could remain elevated even as many parts of the country start to reopen.

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Lufthansa on Thursday said it is negotiating a 9 billion euro ($9.71 billion) “stabilisation package” with Germany’s Federal Economic Stabilization Fund, confirming an earlier Reuters report.

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World shares largely shook off data on Thursday showing millions more Americans sought unemployment benefits, with sentiment sustained by stronger than expected Chinese exports.

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Motorcycle maker Harley-Davidson Inc on Thursday named Jochen Zeitz as chief executive officer. Zeitz has served as acting president and CEO of the company since February 2020.

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Wall Street’s main indexes were set to open sharply higher on Thursday after a surprise rise in Chinese exports and a surge in oil prices spurred hopes of an economic recovery, taking the sting off another gloomy weekly jobless claims report.

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Retailers selling fashion online are emerging as the winners of the coronavirus crisis as consumers are staying home even as stores start to reopen, results from major companies showed on Thursday.

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Kohl’s Corp said on Thursday it plans to reopen a quarter of its stores by next week, as retailers start to get business going again in states where coronavirus-induced lockdown restrictions have eased.

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Wall Street analysts looked past a surprisingly shaky first quarter for payment processors PayPal Holdings Inc and Square Inc hoping that the shift towards more online buying will see their businesses surge this year.

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