Some blood tests being marketed to tell people if they have had the new coronavirus are a “disaster”, Roche Chief Executive Severin Schwan said on Wednesday as he prepares to launch the drugmaker’s own antibody test next month.
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative discussions of additional supply cuts from OPEC producers and U.S. inventory builds that were less dire than some anticipated.
Oklahoma’s energy regulator on Wednesday ruled in favor of an oil company’s emergency application to classify unprofitable production as economic waste, enabling producers to maintain leases when output is halted due to low prices.
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Shares of Expedia Group Inc rose 9% on Wednesday after a report that the online travel services company was in advanced talks to sell a stake to private-equity firms Silver Lake Partners and Apollo Global Management Inc for about $1 billion.
Chevron’s assets in Venezuela have been mothballed and the company is not allowed to drill, transport or barter oil there as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said.
Apple Inc is planning to fix a flaw that a security firm said may have left more than half a billion iPhones vulnerable to hackers.
Sycamore said less than one month after entering the deal with L Brands, the company closed nearly all of its about 1,600 Victoria’s Secret and PINK stores globally, including more than a thousand stores in North America. L Brands also furloughed most of its Victoria’s Secret employees and reduced compensation for senior staff and took other actions that could hurt the lingerie business, Sycamore said in the filing. …read more […]
Investment firm Sycamore Partners is seeking to end its deal to buy a stake in L Brands Inc’s lingerie brand Victoria’s Secret, citing business decisions the retailer took during the coronavirus pandemic, a court filing on Wednesday showed, sending the company’s shares down over 20%.
The small-business loans program officially tapped out of funding last week. The Senate passed the $484 billion for small-businesses to receive stimulus relief. John Tobin, Epoch Investment Partners Managing Director and Portfolio Manager & Senior Research Analyst joins Yahoo Finance’s On The Move to discuss. …read more […]
U.S. drugmaker Pfizer Inc. (PFE) and BioNTech SE (BNTX) got the green light from German regulators to conduct the first in-human clinical trial in Germany of a potential coronavirus vaccine.Pfizer and BioNTech said they expected shortly to get regulatory approval to also start clinical trials in the U.S. Pfizer shares rose as much as 10% in early morning trading and were priced at $36.38 around midday. BioNtech stock surged 14% to $48.35.The Phase 1/2 trial comprises 4 vaccine candidates. The trial will include about 200 healthy individuals between the ages of 18 to 55 and aims to test the safety …read more […]
Earning season is officially underway, with Delta Air Lines posting its first quarterly loss in over five years. Yahoo Finance’s Jared Blikre recaps the latest earnings reports from Delta Air Lines, Chipotle, and Snap. …read more […]
Shares of American Eagle Outfitters Inc dropped 14% on Wednesday after the apparel retailer withdrew its full-year forecast and said current-quarter results would be significantly hit by coronavirus-related store closures.
Delta Air Lines Inc has taken steps to halve its cash burn to $50 million per day through June after posting its first quarterly loss in eight years, and is bracing for a two to three year recovery from the coronavirus pandemic.”We should be prepared for a choppy, sluggish recovery even after the virus is contained,” Chief Executive Ed Bastian said in an employee memo on Wednesday.
IKEA, the world’s biggest furniture brand, opened three of its six stores in Israel on Wednesday after the government started to gradually ease its coronavirus lockdown.
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