Stock futures rose Thursday morning as investors continued to monitor a slew of corporate earnings results and economic data for evidence of the extent of the coronavirus’s impact. …read more […]
Shares in Square Inc. (SQ) depreciated 3.5% in pre-market U.S. trading after the payment processor saw its losses almost triple in the first quarter as the coronavirus pandemic triggered a decline in payment transactions by its business customers.Losses in the first quarter ballooned to $105.89 million, or 24 cents a share, from a loss of $38.15 million, or 9 cents a share, in the year-ago-period. Adjusted net loss per share amounted to 2 cents, versus earnings’ expectations of 13 cents during the same comparative period.Square’s stock slid 3.5% to $65.74 in pre-market U.S. trading after the company said it expected …read more […]
Business jet deliveries are expected to fall this year as the pandemic keeps people under a lockdown, disrupts global travel and slows down economic activity around the world. “Bombardier has begun the gradual resumption of manufacturing operations at both Aviation and Transportation necessary to deliver on our strong rail backlog and to continue the production ramp-up of the Global 7500,” Chief Executive Eric Martel said in a statement. The company said its aviation unit suffered a significant slowdown in orders in March, leading to a $13.6 billion business aircraft backlog at the end of the quarter. …read more […]
U.S. stock index futures jumped on Thursday as a surprise rise in Chinese exports spurred hopes of a faster economic recovery, even as investors braced for data likely to show millions more Americans filed for unemployment benefits last week.
Here’s a fact we bet you haven’t heard.
It’s insane.
In all of World War II, the United States spent $4.7 trillion (in 2019 dollars). It used the money to build some incredible things… tanks, airplanes, monstrous ships and devious bombs.
The money went a long way. The innovations it led to are all around us.
But $4.7 trillion is a lot of money.
To give that amount of cash some context, if we spend $1 million per hour, all day, every day… it would take 576 years to spend what we did to win that war.
But check out this stat from The Washington Post…
All …read more […]
PayPal Holdings Inc said it expects a strong recovery in payments volumes in the second quarter as social distancing drives more people to shop online, even as lockdowns start to ease, sending its shares up 8% in extended trading.
H&M , the world’s second-biggest fashion retailer, said local currency sales had tumbled 57% since the start of March compared with a year ago as the COVID-19 pandemic and lockdowns kept most of its stores closed.
British clothing retailer Next said on Thursday it plans to open its first standalone beauty shops by taking space in five former Debenhams stores, seeking to diversify its offer into faster growing markets.
Global sales of luxury goods are expected to slump by 50% to 60% in the second quarter even as some countries begin to ease coronavirus lockdowns and despite signs of recovery in the Chinese market, consultancy Bain said on Thursday.
Top news and what to watch in the markets on Thursday, May 7, 2020. …read more […]
The owner of British Airways, Iberia, Vueling and Aer Lingus must cut costs across the board to weather the coronavirus crisis as air travel won’t return to normal until at least 2023, its chief executive Willie Walsh said on Thursday.
The chief executive of British Airways-owner IAG Willie Walsh said on Thursday that his personal was that the airline group should continue to have a presence at London’s Gatwick Airport.
Qatar Airways is in talks with banks for loans worth billions of dollars, three sources familiar with the matter said, as the state-owned airline readies to begin rebuilding its network that has been crushed by the coronavirus pandemic.
Italy’s government will inject fresh capital worth at least 3 billion euros ($3.24 billion) in the ailing carrier Alitalia, which is being nationalised following financial problems, Industry Minister Stefano Patuanelli said on Thursday.
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