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Nike warns of fourth-quarter impact in North America business
Nike Inc said on Thursday store closures in North America will hurt its retail and wholesales businesses in the fourth quarter.
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Applied Materials misses on Q2 earnings, says underlying demand remains robust
Applied Materials released its second quarter earnings report after hours on Thursday, missing investors’ expectations on both top and bottom lines. The company offered no guidance for its third quarter, but did acknowledge that the demand for its equipment and services remained ‘robust.’ Yahoo Finance’s Myles Udland breaks down the company’s earnings report on The Final Round. …read more […]
Business News
Equities edge higher, bonds rise on hopes of stimulus
Global equity benchmarks gained late on Thursday, with safe-haven bonds also rising as investors shrugged off disappointing U.S. jobs data and took comfort in the possibility of states re-opening after lockdowns and fueling an economic recovery.
Business News
Wall Street closes with strong gains as recovery hopes offset pandemic fears
Wall Street surged on Thursday as investors weighed the prospect of economic recovery against bellicose remarks from President Donald Trump regarding U.S.-China trade and a whistleblower’s dire warnings about the U.S. response to the coronavirus pandemic.
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Walt Disney World and unions agree on safeguards for returning to work
Walt Disney Co and unions representing workers at Florida’s Walt Disney World have reached an agreement on safeguards to protect employees from coronavirus, a union statement said on Thursday, removing one of the company’s hurdles to reopening its popular theme parks.
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Another 2.98M Americans file for unemployment benefits
Wells Fargo Acting Chief Economist Jay Bryson joins Yahoo Finance’s Seana Smith to discuss how the coronavirus is impacting the economy as another 2.98 million people file for unemployment benefits. …read more […]
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Bank of America’s $1 Billion Virus Bond Breaks New Ground for U.S. Banks
(Bloomberg) — Bank of America Corp. priced a $1 billion bond issue to fund Covid-19 relief efforts. It’s the first sale from a U.S. financial institution that explicitly links all proceeds to tackling the virus, Bloomberg data show.The Charlotte, North Carolina-based lender sold fixed-to-floating rate notes to fund investments addressing social issues related to the pandemic, according to a person with knowledge of the matter. The bonds will yield 1.30 percentage points above Treasuries, said the person, who asked not to be identified as the details are private. Bank of America is sole manager of the bond sale.Borrowers globally have …read more […]
Business News
Trump says doesn’t want to talk to Xi right now, could even cut China ties
U.S. President Donald Trump signaled a further deterioration of his relationship with China over the novel coronavirus, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with the world’s second largest economy.
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Stocks pare losses after dismal jobless claims data
Nuveen Chief Equity Strategist Bob Doll joins Yahoo Finance’s Seana Smith to break down the latest jobless claims as another 2.98 million people file for unemployment benefits amid the coronavirus pandemic. …read more […]
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Business News
S&P gains as investors juggle pandemic fears with recovery prospects
The S&P edged higher on Thursday as investors weighed the prospect of additional stimulus and states reopening for business against bellicose remarks from President Donald Trump about U.S.-China trade negotiations and dire warnings from a whistleblower about the U.S. response to the coronavirus pandemic.
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Lufthansa restores routes, targets 1,800 weekly flights
Lufthansa plans to resume flights to destinations including Los Angeles, Toronto and Mumbai next month as it begins to restore some of the capacity grounded by the coronavirus crisis, the German airline group said on Thursday.
Business News
Seven weeks into coronavirus lockdowns, Fed has a new, darker message
One Thursday morning seven weeks ago, Federal Reserve Chair Jerome Powell made a rare appearance on NBC’s “Today Show” to offer a reassuring message to Americans dealing with economic fallout from measures to contain the coronavirus outbreak.