The number of Americans filing claims for unemployment benefits last week shot to a record high for a second week in a row – topping 6 million – as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.
Ukraine has taken to Twitter to ask Elon Musk to send it ventilators after the billionaire chief executive of Tesla Inc offered to ship them across the world during the coronavirus pandemic.
Aerospace suppliers are drawing up plans to lay off workers as coronavirus quarantines cripple their cash balances – but bailout conditions and fears of losing critical skilled labor are forcing managements to juggle survival and future growth.
The Labor Department released fresh data Thursday morning that showed the novel coronavirus’ effect on employment in the U.S. …read more […]
CarMax (KMX), the US’s largest retailer of used cars, today reported record sales and earnings for the fourth quarter and fiscal year ended February 29, 2020.Most notably, fourth quarter GAAP EPS of $1.30 beat estimates by $0.16, while revenue of $4.96B (up 14.9% year-over-year) beat by $250M.Meanwhile, for the fiscal year, net sales and operating revenues increased 11.8% to $20.32 billion. Total used unit sales rose 14.7% in the fourth quarter and 11.2% for the fiscal year.However, CarMax also revealed that since the first week of March, sales have dropped significantly as the coronavirus situation within the US has rapidly …read more […]
Southwest Airlines Co said on Thursday it intends to file an application with the U.S. Treasury department for aid related to the disruption caused by the coronavirus pandemic.
The dollar firmed on Thursday but paused its strong rally of recent weeks after the Federal Reserve helped U.S. currency liquidity in financial markets by making it easier for other central banks to access the greenback.
Satori Fund founder Dan Niles warned his clients about coronavirus before it hit the market. Now, he’s warning we haven’t bottomed. …read more […]
European cities cracking down on short-term rentals of private homes like those on Airbnb got a boost on Thursday after an adviser to Europe’s top court said they have the right to vet such rentals to tackle the shortage of long-term housing.
Small gold coins and bars, most popular among retail investors, are in big shortage due to high demand and supply disruptions amid coronavirus.The post Gold coins and bars in short supply, premiums exploding appeared first on The Block. …read more […]
EU consumers should be able to sue carmakers in their national courts if they have bought cars with emission cheat devices installed, an adviser to the Court of Justice of the European Union said on Thursday.
U.S. stock index futures climbed on Thursday, a day after Wall Street recorded its steepest fall in two weeks on intensifying coronavirus fears, with investors on edge ahead of another expected jump in weekly jobless claims.
Sweden’s H&M said on Thursday it was in talks with tens of thousands of its staff about shortening working hours with the firm among many retailers hit by the coronavirus pandemic and fewer customers in many markets.
The bosses of Volkswagen , BMW and Daimler held a crisis call with German Chancellor Angela Merkel on Wednesday to discuss how to get production restarted, Germany’s Handelsblatt newspaper reported on Thursday.
The use of Zoom and other digital communications have soared with political parties, corporate offices, school districts, organizations and millions across the world working from home after lockdowns were enforced to slow the spread of the coronavirus. “To put this growth in context, as of the end of December last year, the maximum number of daily meeting participants, both free and paid, conducted on Zoom was approximately 10 million,” founder and Chief Executive Officer Eric Yuan wrote in a letter to Zoom users on Wednesday. Yuan said that Zoom usage has taken off over the last few weeks, …read more […]
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