The number of Americans filing claims for unemployment benefits shot to record of more than 3 million last week as strict measures to contain the coronavirus pandemic ground the country to a sudden halt, unleashing a wave of layoffs that likely brought an end to the longest employment boom in U.S. history.
Governments stepped up efforts on Thursday to help airlines hammered by a virus-induced travel slump, with the United States offering $58 billion in aid, Singapore promising to keep its carrier aloft, and Australia easing competition rules.
The world’s biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia.
Pioneer Natural Resources Company (NYSE:PXD) stock is about to trade ex-dividend in 3 days time. If you purchase the… …read more […]
The United States “may well be in recession” but progress in controlling the spread of the coronavirus will dictate when the economy can fully reopen, Federal Reserve chair Jerome Powell said Thursday in an interview on NBC’s Today Show.
Initial jobless claims skyrocketed last week as the U.S. economy feels the pain of the COVID-19 pandemic. …read more […]
Fast-food chain Wendy’s Co said on Thursday it would defer rent and ease royalty and marketing fee payments for franchisees, amid growing pressure in the restaurant industry due to coronavirus-related outlet closures.
Governments stepped up efforts on Thursday to help airlines hammered by a virus-induced travel slump, with the United States offering $58 billion in aid, Singapore promising to keep its carrier aloft, and Australia easing competition rules.
Share markets across the world fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion U.S. stimulus package.
The union representing British pilots has described the government’s scheme to retain jobs through the coronavirus outbreak as confusing, lacking detail and taking too long to help those who are being laid off now.
Federal Reserve Chairman Jerome Powell told the NBC’s Today that the central bank still has plenty of tools left to support a U.S. economy that may already be in recession. …read more […]
Micron Technology Inc (MU) sees solid third-quarter revenue as the need to work from home due to the coronavirus outbreak restrictions is boosting demand for data center and notebook services.The chipmaker forecasts third-quarter revenue to be in the range of $4.6 billion to $5.2 billion, and gross margin to be in the range of 31%, plus or minus 150 basis points. Operating expenses are expected to come in at about $825 million, plus or minus $25 million. EPS is forecast to be around $0.55 based on a share count of about 1.14 billion fully diluted shares.Wall Street analysts are upbeat …read more […]
Ford Motor Co said on Thursday it was aiming to restart production at some plants in North America as early as April 6.
General Motors Co and Ford Motor Co have widely touted their commitment to emission-free electric cars, but their production plans show a growing reliance on ever-larger gas-powered vehicles.
Drivers around the world want more roomy and powerful cars. Rules made under the administration of President Barack Obama make it easier for U.S. automakers to give customers what they want and to keep expanding the size of their vehicles.
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