Earnings per share fell to $3.11 from $5.71 a year earlier. “Our quarterly profitability was inevitably affected by the economic dislocation,” said Goldman Chief Executive Officer David Solomon. Under Solomon, Goldman has been attempting to reduce its reliance on its flagship trading business and build out its consumer bank, although trading made a comeback this quarter. …read more […]
Oil fell 4% towards $28 a barrel on Wednesday, pressured by reports of persistent oversupply and collapsing demand due to global coronavirus-related lockdowns and a lack of coordinated oil purchases for strategic storage.
(Bloomberg) — The world’s richest person is getting richer, even in a pandemic, and perhaps because of it.With consumers stuck at home, they’re relying on Jeff Bezos’s Amazon.com Inc. more than ever. The retailer’s stock climbed 5.3% to a record Tuesday, lifting the founder’s net worth to $138.5 billion.The pandemic has brought the global economy to a near standstill and pushed almost 17 million Americans onto the unemployment rolls in the span of three weeks. JPMorgan Chase & Co. and Wells Fargo & Co. signaled Tuesday that loan losses fueled by the unprecedented job cuts — many of them in …read more […]
Honda Motor Co said it has remodeled 50 of its minivans to transport COVID-19 patients to hospitals and quarantine facilities in Japan, sealing off the rear section of the vehicles to keep drivers safe from infection.
Ukraine, one of world’s top grain exporters, is ready to ban wheat exports if sales exceed limits agreed with traders, the deputy economy minister in charge of agriculture told Reuters on Wednesday.
Brazilian airline Azul SA has hired restructuring firm Galeazzi & Associados to renegotiate its financial and suppliers’ debt, Brazilian newspaper O Estado de S. Paulo reported on Wednesday.
Argentina is braced for the first case of coronavirus to be confirmed among the thousands of port workers and grains handlers involved in the country’s key agricultural export sector, local industry officials said.
U.S. companies are grappling with how best to provide guidance on their earnings outlook as the novel coronavirus takes uncertainty to new heights and exposes them to potential shareholder lawsuits if forecasts prove misplaced.
Bank of America Corp recorded a 48.5% fall in quarterly profit as the bank set aside $3.6 billion for potential loan losses tied to the coronavirus pandemic.
An Apple collaboration with Google will make it quicker to get systems for tracing coronavirus infections up and running, the prime mover behind a European effort to support the smartphone technology says.
Warren Buffett famously said, ‘Volatility is far from synonymous with risk.’ It’s only natural to consider a company’s… …read more […]
U.S. stock index futures retreated on Wednesday for a second time this week, as a slide in oil prices pressured energy stocks ahead of what is expected to be another dismal round of first-quarter earnings reports.
UnitedHealth Group Inc , the largest U.S. health insurer, on Wednesday beat quarterly profit expectations, boosted by strength across its businesses, and maintained its 2020 outlook while it continues to assess the impact of COVID-19.
Those holding ConocoPhillips (NYSE:COP) shares must be pleased that the share price has rebounded 31% in the last… …read more […]
Saudi Aramco has offered oil refineries in Asia and Europe the option to defer payments for crude cargo deliveries by up to 90 days as plants struggle with shrinking demand, refining industry sources said.
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