U.S. banks on Monday began another chaotic dash to grab $310 billion in fresh small business aid released by the government, after it changed some of the rules of the first-come-first-served program at the 11th hour.
(Bloomberg) — President Donald Trump questioned whether the federal government should provide financial assistance to “poorly run” states led by Democrats on Monday, again framing the U.S. response to the coronavirus outbreak in partisan terms.Trump appeared to align himself with Senate Majority Leader Mitch McConnell, who has said Congress shouldn’t debate relief to cash-strapped states until legislators reconvene in May. The Kentucky Republican has suggested states with large pension obligations under union contracts should be forced into bankruptcy instead of receiving federal aid.Many Democrats and some Republicans have criticized McConnell’s bankruptcy proposal, arguing such a move would have far-reaching and …read more […]
Apple is set to delay its mass production of flagship iPhones to a later date this year over coronavirus concerns. Yahoo Finance’s Dan Howley shares the details. …read more […]
Airbus will furlough around 3,200 staff at its Broughton factory in Wales, the European planemaker said on Monday after it warned staff that the coronavirus crisis had put its survival at stake.
Boeing Co will need to borrow more money over the next six months and does not expect to pay dividends again for years, as the U.S. planemaker wrestles with industry fallout from the coronavirus and the grounding of its 737 MAX jet, chief executive Dave Calhoun told shareholders on Monday at its annual general meeting.
Fiat Chrysler resumed van production on Monday at its Atessa plant in central Italy, a week before the country plans to start lifting a national lockdown put in place to limit the spread of the coronavirus.
Driven by investors’ clamour for insurance against economic turmoil and the potential devaluation of assets and currencies, some predict a bull run reminiscent of gold’s price rally to record highs just shy of $2,000 in 2011. Bank of America Merrill Lynch has even said it could touch $3,000 by the end of next year. …read more […]
U.S. stock markets jumped more than 1% on Monday as more states prepared to ease stay-at-home orders and investors geared up for one of the busiest weeks of quarterly earnings reports, including from tech titans Apple and Microsoft.
Polish airline LOT is in talks with Boeing to modify its 787 Dreamliner jets into temporary cargo carriers, a LOT spokesman told Reuters, in a move that could help to narrow losses from the coronavirus crisis.
British Prime Minister Boris Johnson heads back to work after contracting coronavirus. Tom Belger joins Yahoo Finance’s On The Move to weigh in. …read more […]
(Bloomberg) — As silent factories and deserted offices hobble demand for electricity worldwide, the biggest loser is coal.In the U.S., coal’s share of power generation has dropped more than 5 percentage points since February on the nation’s biggest grid while output from natural gas plants and wind farms held steady. In Europe, it’s down 2 points. Even in China and India, where coal still dominates, it’s losing market share during the pandemic.It comes down to cost. Coal power is more expensive than gas and renewables in many places and, hence, is the first fuel priced out of the market when …read more […]
Bayer said the economic downturn and the need to preserve cash means it is taking a tougher stance in talks to settle claims over accusations that its glyphosate-based weedkillers cause cancer, even as its earnings rose.
Progress towards coronavirus bailouts buoyed the shares of Lufthansa and Air France-KLM on Monday, as the protracted travel slump turned up the heat on rivals yet to secure financing needed to tide them through the pandemic.
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