Procter & Gamble Co beat Wall Street expectations for quarterly profit on Friday as it reported its best U.S. sales growth in decades thanks to consumers stockpiling cleaning essentials in lockdowns against the coronavirus.
The Chinese-backed owners of Imagination Technologies told the British government on Friday the chip designer would remain headquartered in the United Kingdom, a source with knowledge of the matter said.
A gauge of future U.S. economic activity suffered a record decline in March, suggesting the economy could struggle to pull out of a deep slump caused by the novel coronavirus outbreak.
Wall Street bounced on Friday as Boeing said it would resume production of commercial jets next week, with investors also cheering President Donald Trump’s plan to reopen the economy and on hopes of a potential drug to treat COVID-19.
Ford’s vehicle sales to dealers fell 21% in the first quarter, compared with the same period in 2019. In March, the company shuttered plants in North America and Europe due to the COVID-19 outbreak. Only Ford’s joint ventures in China, where the pandemic has been receding, are currently producing vehicles and dealers have resumed work. …read more […]
Bears looking for a retest of the market lows may soon have egg on their face. …read more […]
Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say.
Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say. Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed a record cut in output from May of 9.7 million barrels per day, or almost 10% of global supply, to help support prices and curb oversupply. At the same time traders have rushed to find storage on land and at sea …read more […]
Nasdaq Inc has applied with the U.S. Securities and Exchange Commission to offer temporary relief to companies listed on its exchange with stock prices and market values that have fallen below required minimums due to disruptions during the coronavirus crisis.
Alex Piré, Head of Client Portfolio Management for Seeyond, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Heidi Chung to discuss how the markets are faring amid the coronavirus outbreak. …read more […]
Vienna Airport launched a savings programme equivalent to a quarter of annual revenue on Friday in response to the travel falloff caused by coronavirus and said state aid will ensure it remains liquid to the end of the year.
Investors will be hunting for companies that can rein in costs, preserve cash and avoid amassing big inventories during the coronavirus crisis as Europe Inc. prepares to report the steepest profit fall since the 2008 global financial meltdown.
Many U.S. airlines are cancelling between 60% and 80% of their flights, and under federal law passengers on those flights are entitled to full refunds, Senators Ed Markey, Elizabeth Warren and Richard Blumenthal said in a statement. “However, many airlines have been obfuscating this right by offering travel vouchers as the default option, requiring passengers to take burdensome steps to request refunds instead,” they said. …read more […]
ConocoPhillips on Thursday announced the biggest drop so far, saying it would slash oil output by 200,000 boepd from earlier forecasts. Along with Chevron , which slashed its Permian output by 20% or 125,000 bpd, and Occidental Petroleum , which reduced 2020 output by 85,000 boepd, the three companies account for 410,000 boepd of the reductions announced by U.S. and Canadian companies. …read more […]
Shares of Gilead Sciences Inc rose 10% in early trading on Friday after a report that patients with COVID-19 treated with the company’s experimental drug, remdesivir, in a clinical trial showed rapid recovery in fever and respiratory symptoms.
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