Boeing Co said on Thursday it will temporarily suspend production at facilities in Ridley Township, Pennsylvania, amid the ongoing coronavirus pandemic, adding that the suspension will last two weeks, with work to resume on April 20.
Airbnb lowered its internal valuation by 16% to $26 billion, as the U.S. home rental firm grapples with a slowdown in bookings due to the global spread of the coronavirus pandemic, a source familiar with the matter told Reuters on Thursday.
Neiman Marcus Group is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, people familiar with the matter said on Thursday.
(Bloomberg) — Boeing Co. expects several thousand workers to retire or accept a buyout offer as the planemaker races to shrink its operations amid a historic unraveling of global travel from the coronavirus pandemic, said a person familiar with the company’s plans.The manufacturer will start by offering the exit package in the U.S., while selectively hiring for critical programs such as defense and space, said the person, who asked not to be named because the discussions are confidential. Boeing is also weighing a production cut for wide-body jets as demand falls, although no changes have been made as yet, the …read more […]
Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production. U.S. West Texas Intermediate (WTI) crude futures fell 5.2%, or $1.32, to $23.98 a barrel, after having surged 24.7% on Thursday. Trump told reporters at the White House late on Thursday he had made no offer to cut U.S. output. …read more […]
Oil prices fell on Friday, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production.
Benchmark U.S. crude fell more than 1% in early trade on Friday, coming off its biggest one-day gain in the previous session after U.S. President Donald Trump said he expected Saudi Arabia and Russia to announce a major oil production cut.
Uber Technologies Inc will begin shipping disinfecting car spray to selected drivers in areas most affected by the coronavirus outbreak, an executive said on Thursday.
The coronavirus pandemic is throwing a spotlight on stocks in the U.S. healthcare sector, home to the companies that could develop treatments, vaccines and improved diagnostics needed to tackle the greatest public health crisis in a century.
Airbnb lowered its internal valuation by 16% to $26 billion, as the home rental firm deals with a sharp drop in bookings due to the global spread of the coronavirus pandemic, the Financial Times reported on Thursday.
The dollar edged toward an almost 2% weekly rise on Friday, boosted by a surge in the oil price and as investors sought safety amid the worsening economic fallout from the coronavirus pandemic.
Amid confusion over a $349 billion rescue program for small businesses struggling to survive the coronavirus pandemic, the U.S. Treasury released guidelines it hopes will pave the way to getting the spigots flowing on Friday, as promised.
(Bloomberg) — Oil slipped below $25 a barrel following a record surge as doubts crept in over U.S. President Donald Trump’s claim he had brokered a deal that would see deep supply cuts from Saudi Arabia and Russia.Futures advanced almost 25% in New York on Thursday after Trump tweeted that he expected the two leading producers to slash output by 10 million barrels or more. However, the Kremlin later said that President Vladimir Putin had not spoken to his Saudi counterpart and hasn’t agreed to reduce production. Citigroup Inc. said any deal was too little, too late.See also: Trump’s Push …read more […]
U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses despite confusion over last-minute final rules and lenders unprepared to approve applications.
Recent negotiations involving leaders from OPEC nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil’s Petrobras said on Thursday evening.
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